Tujuan penelitian ini adalah untuk menguji pengaruh dari firm size, leverage dan financial distress terhadap keputusan hedging pada perusahaan pertambangan subsektor batubara yang terdaftar di Bursa Efek Indonesia periode 2019-2023 sebanyak 220 data pengamatan. Sampel penelitian terdiri darI 30 perusahaan yang dipilih menggunakan teknik purposive sampling sebanyak 210 data pengamatan. Teknik pengumpulan data dilakukan dengan menggunakan metode observasi non partisipan. Metode penelitian yang digunakan yaitu deskriptif verifikatif dengan jenis data kuantitatif. Hipotesis diuji menggunakan analisis regresi logistik dengan SPSS 27. Hasil penelitian menunjukkan bahwa secara simultan, firm size, leverage, dan financial distress berpengaruh signifikan terhadap keputusan hedging, yang ditunjukkan oleh nilai signifikansi omnibus test sebesar 0,000. Secara parsial, firm size berpengaruh positif dan signifikan terhadap keputusan hedging, leverage berpengaruh negatif dan signifikan terhadap keputusan hedging, sedangkan financial distress tidak berpengaruh signifikan terhadap keputusan hedging.
Kata Kunci: Keputusan Hedging, Firm Size, Leverage, Financial Distress.

This study aims to examine the effect of firm size, leverage, and financial distress on hedging decisions in coal mining subsector companies listed on the Indonesia Stock Exchange for the 2019–2023 period, using a total of 220 observations. The sample consists of 30 companies selected through purposive sampling, resulting in 210 valid observations. Data were collected using a non-participant observation method. The research method employed is descriptive-verificative with a quantitative data approach. The hypotheses were tested using logistic regression analysis through SPSS version 27. The results show that simultaneously, firm size, leverage, and financial distress have a significant effect on hedging decisions, as indicated by the omnibus test significance value of 0.000. Partially, firm size has a positive and significant effect on hedging decisions, leverage has a negative and significant effect, while financial distress has no significant effect on hedging decisions.
Keywords: Hedging Decision, Firm Size, Leverage, Financial Distress.