, we conclude that swap positions are not economically significant in hedging the interest rate risk of bank assets …

We study a firm that justifies its novel use of equity derivatives as a cash-flow hedging strategy. Our purpose is to … hedging concepts articulated by Froot, Scharfstein and Stein (1993). In applying the theory to practice, there are lessons for …

relatively understudied. We study firms' currency risk exposure and their hedging choices by employing a unique dataset covering …, international trade, trade credits and foreign currency debt. We uncover four novel facts: (i) natural hedging of currency risk is … limited, (ii) financial hedging is more likely to be used by larger firms and for larger amounts, (iii) firms in international …

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry … face costly external finance increase hedging after staggered state-level financial reform that reduces the costs of … hedging. Post reform impacted firms have lower risk and fewer negative income shocks. Product market competition is also …

. We show that this approach yields parsimonious and industry-balanced portfolios that perform well in hedging innovations … in climate news both in-sample and out-of-sample. The resulting hedge portfolios outperform alternative hedging …