Bidding of flexible reservoir hydropower in day-ahead (spot) auctions needs to be done under uncertainty of electricity …

hedging these multi-period guarantees in the presence of transaction costs. We derive the hedging strategies for the cheapest …

liabilities. Our results indicate strong hedging demands to mitigate interest rate risks. …

depend much on the time period chosen. Empirical evidence confirms the hypothesis that currency hedging should be fully …

management theories: financial theory, agency theory, stakeholder theory and new institutional economics. Unlike in previous …

The rationales for corporate risk management are examined from the point of view of the theory of finance and of key … stakeholder groups’ interests. A study of the use of hedging instruments in 161 Polish non-financial listed companies is then … determine relationships between the hedging decision and financial standing of companies. However, company size is proved to be …

Based upon the foundations of mean-variance decision-making theory, we demonstrate that a change in the risk situation … of an international enterprise open currency position does not inevitably require a corresponding hedging accommodation …. Given a new risk situation, whether a revision of the hedging-strategy is appropriate will depend upon the elasticity of …

could account for the mixed evidence in the literature on the effect of hedging on firm value. …