asymmetric. We find that derivatives are effective in reducing overall FC exposure but there is no evidence of value creation …

asymmetric. We find that derivatives are effective in reducing overall FC exposure but there is no evidence of value creation …

The paper deals with the use of derivatives by Italian non-financial firms, in order to analyse existing theories of … hedging behaviour, and provides empirical evidence on a potential differentiation of determinants of derivative use over time …

-94 on American petroleum markets. According to a specific definition of hedging, and on the basis of a detailed survey of …

distress costs and the foreign currency hedging decision and more significantly the foreign currency only hedging decision … the fact that several U.S. studies include in their non-hedging sample other hedging firms, such as firms using non …-derivative methods for currency hedging and interest rate only hedgers, which might bias the results against the a priori expectations …

which the risk management and hedging needs of investors may be effectively met through the derivative instruments. However …. And yet, more and more companies are using(or being forced to use) futures and derivatives to stay competitive in a fast …

use of foreign currency hedging derivatives or through offsetting foreign currency asset and liability positions. Even … before taking into account the use of hedging derivatives, Australian entities as a whole have a net foreign currency asset … position with the rest of the world. After accounting for hedging derivatives, this overall net foreign currency asset position …

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 …

hedging strategies that lead to hefty losses in the aftermath of the financial crisis. The sample is comprised of 346 …$18.9 billion. An event study shows that most companies that present losses in derivatives experience negative abnormal … indicate that the lack of a formal hedging policy, no monitoring to the CFOs, and considerations of hubris and remuneration …