Analisa Perbandingan Penggunaan Open Position, Forward Contract Dan Money Market Hedging Terhadap Utang Ekspedisi Luar Negeri (Studi Kasus:Pada Perusahaan Jasa PT.X Di Bandung)

Anthonius, - (2011) Analisa Perbandingan Penggunaan Open Position, Forward Contract Dan Money Market Hedging Terhadap Utang Ekspedisi Luar Negeri (Studi Kasus:Pada Perusahaan Jasa PT.X Di Bandung). In: Seminar Nasional Ke 3 Forum Manajemen Indonesia, 9-10 November 2011.

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Abstract

A company that has cash flow in form of foreign exchange market will have a risk with exchange rate fluctuation. One of the methods that can be used is applying hedging strategy. This strategy uses in order to know which hedging technique that gives efficiency to PT.X especially for their abroad expedition debt which its deadline is 30 days during 2009 period, comparing to strategy application of forward contract hedging and money market hedging. The result shows without applying hedging PT.X pay all abroad expedition debt IDR 67.159.981.310. While with using forward contract PT.X abroad expedition debt becomes IDR 68.292.222.919. If we compare to without applying hedging technique or open position inefficiency as IDR 1.132.241.610 or 1.69 % happens. Whereas by using money market PT.X abroad expedition debt is IDR 68.906.681.113, where 2.60% (IDR 1.746.699.804) inefficiency happen, compare to without using hedging technique or open position. Therefore, both forward contract and money market basically cannot minimalize fluctuation risk IDR to US dollar as PT X’s managerial expected, because average transaction in deadline time IDR is received apresiation during 2009 period, even though based on production of efficiency value, forward contract hedging produce lower inefficiency than money market hedging. Hedging strategy which is applied will give certainty to company’s cash flow, even it is not always give profit to the company. Thus, the company have to make hedging regulation, like which technique that will be applied. For 2009 period the company should use forward hedging technique.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: foreign exchange market, open position, forward contract hedging, money market hedging, abroad expedition debt.
Subjects: H Social Sciences > HG Finance
Depositing User: Perpustakaan Maranatha
Date Deposited: 17 Jul 2014 10:00
Last Modified: 17 Jul 2014 10:05
URI: http://repository.maranatha.edu/id/eprint/6382

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