Tujuan dari penelitian ini adalah untuk mengetahui dan menganalisis faktor-faktor yang dapat mempengaruhi terhadap keputusan hedging instrumen derivatif studi kasus pada perusahaan manufaktur yang terdaftar di ISSI tahun 2014 – 2018 baik secara simultan maupun secara parsial. Variabel dependen yang digunakan dalam penelitian ini adalah keputusan hedging instrumen derivatif, sedangkan variabel independen dalam penelitian ini adalah Likuiditas yang diproksikan dengan Current Ratio, Leverage yang diproksikan dengan Debt to Equity Ratio (DER), Profitabilitas yang diproksikan dengan Ratio On Assets (ROA), Firm Size, dan Growth Opportunity. Penelitian ini dilakukan pada perusahaan manufaktur yang terdaftar di ISSI untuk periode tahun 2014 sampai dengan 2018. Populasi dalam penelitian ini berjumlah 79 perusahaan sektor manufaktur. Setelah dilakukan teknik pengambilan sampel metode purposive sampling, diperoleh 30 perusahaan sektor manufaktur yang akan dijadikan sebagai sampel dalam penelitian. Sedangkan untuk melihat pengaruh antara variabel independen terhadap variabel dependen digunakan metode analisis regresi logistik. Berdasarkan hasil penelitian diketahui bahwa secara simultan, Likuiditas (Current ratio), Leverage (Debt to Equity Ratio), Profitabilitas (Ratio on Assets), Firm Size, dan Growth Opportunity berpengaruh terhadap keputusan hedging instrumen derivatif. Sedangkan secara parsial, hanya variabel likuiditas (Current ratio), Profitabilitas (Return on Assets), dan Firm Size yang berpengaruh terhadap keputusan hedging instrumen derivatif pada perusahaan manufaktur yang terdaftar di Indek Saham Syariah Indonesia (ISSI). Kata Kunci: Likuiditas, Leverage, Profitabilitas, Firm Size, Growth Opportunity, Hedging Instrumen Derivatif.

The purpose of the study is to know and analyze the factors that can affect the hedging decision of case study derivative instruments at manufacturing companies listed in ISSI year 2014 – 2018 both simultaneously and partially. The dependent variables used in this research are the decision on hedging derivative instruments, while independent variables in this research are liquidity that is provable with Current Ratio, Leverage that is provable with DEBT to Equity Ratio (DER), the profitability that is provable with Ratio On Assets (ROA), Firm Size, and Growth Opportunity. The research was conducted on a manufacturing company registered in ISSI for the period from 2014 to 2018. The population in this study amounted to 79 manufacturing sector companies. After the sampling technique purposive sampling method, obtained 30 companies in the manufacturing sector that will be used as a sample in the research. While to see the influence between independent variables against dependent variables used methods of logistic regression analysis. Based on the results of the research known that simultaneously, Liquidity (Current ratio), Leverage (Debt to Equity Ratio), Profitability (Ratio on Assets), Firm Size, and Growth Opportunity affect the hedging decision of derivative instruments. As for the partial, only the liquidity variables (Current ratio), profitability (Return on Assets), and Firm Size are influential on the decision hedging derivative instruments in manufacturing companies listed on the Indonesian Syariah Stocks index (ISSI). Keywords: Liquidity, Leverage, profitability, Firm Size, Growth Opportunity, Hedging derivative instruments.

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