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Firm value is influenced in many direct and indirect ways by financial risks, which consist of unexpected changes of foreign exchange rates, interest rates and commodity prices. The fact that a significant number of corporations are committing resources to risk management activi-ties is,...
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Firm-level fixed investment expenses are analysed using a large panel of US manufacturing firms from 1971 to 2007. Integrating the user cost of capital, q and accelerator theories of investment to one econometric specification, we estimate the impacts of sales growth, cash flow, the cost of...
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Risikomanagement gehört zu den Grundaufgaben moderner Unternehmensführung. Seine Bedeutung im Lichte von Globalisierung … betriebswirtschaftliche Schrifttum und die universitäre Lehre tragen dem in Gestalt von Hedging-Modellen für risikoaverse Entscheider Rechnung … Risikomanagement bei aktionärsorientierter Unternehmenssteuerung mehr Fragen als Antworten. …
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In this article, we address the problem of developing a hedging strategy for managing a portfolio of longevity risk … threaten the provider's solvency. With a choice of newly emerging hedging instruments, such as mortality bonds, survivor swaps …
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This paper structures ten effective implications/lessons of the most recent bank bailouts of 2007-2009 in the Western economy model when analysing actual shareholders' value retrenchment or growth opportunities. The author finds that recent bank bailouts relate to: global bailout...
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We suggest a joint optimization model for a firm’s hedging and leverage decisions that helps to establish an integrated …
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