resources to risk management activi-ties is, however, only an indication of the potential of corporate risk management to … the contribution of corporate risk management to shareholder value. It is argued that because of realistic capital market … imperfections, such as agency costs, transac-tion costs, taxes, and increasing costs of external financing, risk management at the …

study uses survey data, which enables us to differentiate between hedging aimed at translation exposure and transaction … increasing with firm size and exposure and that liquidity constraints are important in explaining transaction exposure hedging …. Importantly, we find that the existence of loan covenants explains translation exposure hedging. This suggests that firms hedge …

, forecasting and hedging can contribute to price risk management improvement for risk-averse producers. Consistent with previous …The paper assesses the usefulness of selective hedging strategies when combined with forecast techniques in the live … hog contract. The use of routine futures and options hedging is not attractive relative to a cash-only strategy. However …

provide also an explicit way to compute the hedging ratio (Delta) to hedge the option with its underlying. …

position in the stock. For example, delta-hedging involves two deltas, one corresponding to the stock and the other to the …

-varying minimum variance hedge ratios for corn and nickel spot and futures prices. Out-of-sample point estimates of hedging portfolio … variance show that compared to the state-independent BEKK-GARCH model, the RS-BEKK-GARCH model improves out-of-sample hedging …

composition. We provide explicit formulas within the HJM one-factor models with deterministic volatility together with hedging …

draw four major conclusions from the results. First, hedging effectiveness using the new crop yield contract depends … critically on yield basis risk which presumably can be reduced considerably by covering large geographical areas. Second, crop … yield futures can be used in conjunction with price futures to derive risk management benefits significantly higher than …