Islamic financial institutions have relied for decades on margin-based contracts to provide financing for the business sector, despite the basic idea that Islamic finance is expected to provide an equity-based or a profit and loss sharing (PLS) contract. This fact raises the need to encourage...

This study aims to determine whether the use of derivatives in non-financial companies in Indonesia as a hedging instrument affects firms' exchange rate risk exposure. The study's sample is 164 non-financial companies listed on the Indonesia Stock Exchange in 2019. We used the multiple...