Determination of Export Volume and Hedging Strategy: A Survey Of Exporter's Transaction At The Makassar Industrial Estate (Kima)  

Oleh:

Rakhman, Abdul

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Journal of Economics, Business, & Accountancy: ventura vol. 15 no. 3 (Dec. 2012), page 389-402.
Topik: Hedging; Inflation; Interest Rate; Spot Rate; Volume of Report
Fulltext: 109-389-1-SM_dv.pdf (75.87KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: VV5.9 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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The study aims to determine factois which influence the export volume of leading commodities in South Sulaw esi and investigate which hedging stiategy has been implemented by the exportéis. Tlie survey was undertaken for 13 manageis ananging 250 sales conn-acts in thirteen companies. Ttiey were asked to describe wltat type of hedging strategy was implemented in protecting their revenue with US dollar as denominated cwrency to their contract. Seveial literatuies suggested that hedging strategy needs to consist of hedging theory, but in South Sulawesi, the international traders' belief is in piagmatism way by relying on money market instrument especially for interest mte orientation. Although export import activities for cocoa, cement, lobster, seaweed, box and marbles used USS for denomination, the respondents were aware of Rupiah fluctuation to foreign cunency which also beats tiansaction exposure. Multiple regression analysis was used to determine variaNes which affected the volume and export, while hedging strategy was identified using qualitative approach It was found that the inciease on cost of hedging, inflation leferences and inteiest late refeiences affected significantly the increase of the expo/i volume, while the inciease of USS spot late to Indonesian Rupiah did not significantly affect in reducing export volume. Most of exportéis rely on hedging in money mai-ket, longforward conn-act to protect their transactions.

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