Antisipasi Rencana Pembayaran Hutang Dagang Melalui Pengukuran Translation Exposure dengan Metode Current Rate dan Penggunaan Forward Contract Hedging

Aan Soelehan; Annaria Magdalena Marpaung; Shanty Dewi K.

doi:10.37641/jimkes.v1i2.261

Authors

Aan Soelehan STIE Kesatuan
Annaria Magdalena Marpaung STIE Kesatuan
Shanty Dewi K. STIE Kesatuan

DOI:

https://doi.org/10.37641/jimkes.v1i2.261

Keywords:

hedging, debt

Abstract

Translation exposure is the exposure of profit and loss balance sheet at a multinational company on nominal exchange rate. The potential of risk translation is used to measure change of foreign currencies exchange rate on domestic currency value of assets and foreign currencies owned by the company. Translation exposure is measured by current rate method and business debt is anticipated by forward contact hedging.

The purpose of this research is to find out the risk level of translation exposure by current rate method, the management of current rate method itself, and the management of forward contract to business debt anticipation. The analysis method used is current rate measurement method, forward contract hedging calculation, and relevant variables management.

The results show that for current rate measurement at PT Panasia Filament Inti Tbk., viewed from 2005 – 2009, YEN currency has the highest translation exposure percentage value and gets loss in translation exposure; for forward contract hedging calculation, viewed from 2005 – 2009, all currencies namely GBP, EURO, USD, CHF, SGD, and YEN have various profit and loss from forward contract itself.

Keywords: translation exposure; current rate method; forward contract hedging; business debt

Downloads

Download data is not yet available.

References

Andusari, Yustina 2007, Analisis Pencatatan Selisih Kurs dalam Mengurangi Resiko Kerugian atas Transaksi Valuta Asing. 21 November 2007. Website: www.adln.lib.unair.ac.id
Catatan atas Laporan Keuangan PT. Panasia Filament Inti Tbk 2005 dan 2009. Website: www.idx.co.id.
Hady, Hamdy 1999, Valas untuk Manager : Forex for Manager, Ghalia Indonesia. Jakarta.
Ilyas, Meifida dan Karunia, R. Luki, Dkk 2008, Akuntansi Internasional, Universitas Mercu Buana. Jakarta.
Journal. Forward hedge. Website: www.vibizmanagement.com
Kountur, Ronny 2004, Manajemen Resiko Operasional, Edisi ke-6, PPM. Jakarta.
Kuhlemeyer, A. Gregory 2001, International Financial Management, 11 edition, Prentice-Hall, Inc. Waukesha, WI.
Kuncoro, Mudrajad, Manajemen Keuangan Internasional, Pengantar Ekonomi dan Bisnis Global, Edisi ke-2, BPFE. Yogyakarta.
Madura, Jeff 1989, International Financial Management and Multinational Financial Management, Edisi ke-2, West Publishing Company. St. Paul.
Nasution, Barizi 1980, Metode Statistika, Edisi ke-4, Gramedia. Jakarta.
Nopirin1997, Ekonomi Internasional, Edisi ke-3, BPFE. Yogyakarta.
Putri, Rinella 2009, Manajemen Resiko Valas. 07 Juli 2004. Website: www.vibiznews.com
Santosa, Hamdani 2008, Statistika Deskriptif dalam Bidang Ekonomi dan Niaga, Erlangga. Jakarta.
Shapiro, C. Alan 1992, Multinasional Financial Management, Edisi ke-4, Allyn and Bacon. Boston.
Sugiyono 2006, Metode Penelitian Bisnis, Edisi ke-9, Alfabeta. Bandung.
Surhayadi, Purwanto 2004, Statistika untuk Ekonomi dan Keuangan Modern, Buku 2, Edisi ke-1, Salemba. Jakarta.
Zhida 2008, Latar Belakang Ketentuan Akuntansi untuk Bisnis Internasional. 10 Maret 2008. Website: www.one.indoskripsi.com.