both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of … German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage …

We present two methods based on functional principal component analysis (FPCA) for the estimation of smooth derivatives … decomposition to a) the dual covariance matrix of the derivatives, and b) the dual covariance matrix of the observed curves. To …

combine the philosophical understanding of the nature and logic of the derivatives market with an analysis of the entirely …’s understanding of the fundamental logic of derivatives with Jonathan Nitzan and Shimshon Bichler’s account of capital as power. Such … a ‘power theory of finance’ answers both to Ayache’s claims as to the singular importance of derivatives for an …

derivatives including all firms based in the European Union. On average, we find that around 75% of market gross notional relates …