THE EFFECT OF HEDGING, EXCHANGE RATE RISK, PROFITABILITY, AND CAPITAL STRUCTURE ON FIRM VALUE IN ENERGY SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD 2021-2024

Amandha Oktadhianti(1*), Jaka Waskito(2), Ira Maya Hapsari(3)


(1) Faculty of Economics and Business, Universitas Pancasakti, Tegal, Indonesia
(2) Faculty of Economics and Business, Universitas Pancasakti, Tegal, Indonesia
(3) Faculty of Economics and Business, Universitas Pancasakti, Tegal, Indonesia
(*) Corresponding Author

Abstract


This study aims to examine how capital structure, firm value in energy sector businesses listed on the Indonesia Stock Exchange between 2021 and 2024 is influenced by profitability, exchange rate risk, and hedging.

The analytical method used is multiple regression analysis using a quantitative approach. Secondary data from corporate financial reports released by the Indonesia Stock Exchange between 2021 and 2024 served as the study's data source. Ninety-one businesses in the energy industry make up the whole subject of this study. 34 energy sector industries that satisfied the research criteria over the course of the four years were found using purposeful sampling, so the total research data amounted to 136 data points. SPSS 22 was used for hypothesis testing.

The outcomes of the study show that partially Hedging affects Exchange rate risk has no bearing on a company's worth; capital structure and profitability do. Concurrently, the firm value of energy sector businesses listed on the Indonesia Stock Exchange for the years 2021–2024, exchange rate risk (X2), and hedging (X1) is concurrently impacted by profitability (X3) and capital structure (X4).

 

Keywords: Hedging, Exchange Rate Risk, Profitability, Capital Structure, Firm Value


Keywords


Hedging; Exchange Rate Risk; Profitability; Capital Structure; Firm Value

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References


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DOI: https://doi.org/10.26714/vameb.v22i2.21437

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