Effect of the Use of Derivative Instruments on Stock Returns : Evidence from Banks in Emerging and Recently Developed Countries
The purpose of the paper is to examine the impact of derivatives usage on bank performance. Four derivatives are used: forward, futures, options, and swaps. The bank performance is measured by daily stock returns during the period 2003-2009. The sample is composed of 74 banks from both emerging and “recently developed” countries. The findings reject usual hypothesis by showing a negative effect of derivatives on performance in such countries. The main conclusion rejects the thesis stipulating that derivatives are beneficial for banks, as for developed countries
Year of publication: |
2014
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Authors: | Keffala, Mohamed Rochdi |
Other Persons: | de Peretti, Christian (contributor) ; Chan, Chia Ying (contributor) |
Publisher: |
[2014]: [S.l.] : SSRN |
Subject: | Derivat | Derivative | Kapitaleinkommen | Capital income | Schwellenländer | Emerging economies | Industrieländer | Industrialized countries | Kreditrisiko | Credit risk | Terminmarkt | Derivatives market |
Saved in:
freely available
Extent: | 1 Online-Ressource (21 p) |
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Series: | |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 1, 2013 erstellt |
Other identifiers: | 10.2139/ssrn.2480419 [DOI] |
Classification: | G21 - Banks; Other Depository Institutions; Mortgages ; G32 - Financing Policy; Capital and Ownership Structure |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013049144