, we consider the joint determination of output and hedging in the case of flexibility in production. We show that the risk …We extend the analysis on hedging with price and output uncertainty by endogenizing the output decision. Specifically … context of an example, we show that the presence of production flexibility reduces the incentive to hedge for all risk averse …

This paper investigates the effect of corporate risk management on dividend policy. We extend the signaling framework … of Bhattacharya (1979) by including the possibility of hedging the future cash flow. We find that the higher the hedging … asymmetry and dividend policy (e.g., Miller and Rock, 1985) and the assertion that risk management alleviates the information …

Book -- Acknowledgments -- General References -- Chapter 1 Risk Management: Definition and Historical Development -- 1 ….1 History of Risk Management -- 1.2 Milestones in Financial Risk Management -- 1.3 Current Definition of Corporate Risk … Management -- 1.4 Conclusion -- References -- Chapter 2 Theoretical Determinants of Risk Management in Non‐Financial Firms -- 2 …

the optimal form of retention must be proportional to the pool default loss even in the absence of systemic risk when the …