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Les opérations de Metallgesellschaft sur les marchés à terme de produits pétroliers:spéculation ou couverture ?
Lautier, Delphine - In: Revue Finance Contrôle Stratégie 1 (1998) 3, pp. 107-129
An analysis focusing on the financial aspects is proposed for the strategy initiated by Metallgesellschaft (MG) in 1993 …-94 on American petroleum markets. According to a specific definition of hedging, and on the basis of a detailed survey of …
Persistent link: https://www.econbiz.de/10005263542
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Les opérations de metallgesellschaft sur les marchés à terme de produits pétroliers : spéculation ou couverture ?
Lautier, Delphine - Université Paris-Dauphine (Paris IX) - 1998
An analysis focusing on the financial aspects is proposed for the strategy initiated by Metallgesellschaft (MG) in 1993 …-94 on American petroleum markets. According to a specific definition of hedging, and on the basis of a detailed survey of …
Persistent link: https://www.econbiz.de/10011072448
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The exchange rate effect of multi-currency risk arbitrage
Hau, Harald - In: Journal of International Money and Finance 47 (2014) C, pp. 304-331
paper uses a natural experiment to identify a particular global arbitrage opportunity and shows that arbitrage risk hedging …
Persistent link: https://www.econbiz.de/10010906598
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Herding, Information Cascades and Volatility Spillovers in Futures Markets
McAleer, Michael; Radalj, Kim - Department of Economics and Finance, College of … - 2013
Economists and financial analysts have begun to recognise the importance of the actions of other agents in the decision-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of mimicry range from the choice of restaurant, fash-ion and financial market...
Persistent link: https://www.econbiz.de/10010907422
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Treatment of Hedging in Commodity Market Regulation
Paul, Allen B. - Economic Research Service, Department of Agriculture - 1976
The study analyzes the reasons for defining bona fide hedging for regulatory purposes, deficiencies of the current … legal definitions, means for sidestepping the need to define hedging, how these means might work in practice, some problems …
Persistent link: https://www.econbiz.de/10010923010
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Position Limits, Hedging, and Excessive Speculation
Peterson, Paul - Department of Agricultural and Consumer Economics, …
Persistent link: https://www.econbiz.de/10011250461
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Informational efficiency: ranking markets
Palomino, Frederic - In: Economic Theory 18 (2001) 3, pp. 683-700
market (JA market), agents have joint activities: they trade for both speculative and hedging purposes. It is shown that (i …
Persistent link: https://www.econbiz.de/10005155320
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Asymmetric Information and Corporate Risk Management by Using Foreign Currency Derivatives
Lin, Bingxuan; Lin, Chen-Miao - In: Review of Pacific Basin Financial Markets and Policies … 15 (2012) 01, pp. 1250004-1
We examine how information asymmetry affects a firm's incentive to hedge versus speculate by using foreign currency derivatives. We find a quadratic relation between asymmetric information and a firm's risk management activities. In particular, we find that the firms facing medium level of...
Persistent link: https://www.econbiz.de/10010540996
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Herding, Information Cascades and Volatility Spillovers in Futures Markets
McAleer, Michael; Radalj, Radalj, K. - Faculteit der Economische Wetenschappen, Erasmus … - 2013
Economists and financial analysts have begun to recognise the importance of the actions of other agents in the decision-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of mimicry range from the choice of restaurant, fashion and financial market...
Persistent link: https://www.econbiz.de/10010731573
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Do banks use credit default swaps to hedge or speculate? An agency theoretic perspective
Dias, Roshanthi; Mroczkowski, Nicholas A. - In: International Journal of Critical Accounting 4 (2012) 3, pp. 283-299
speculative/trading purpose indicates a risk taking motive, whereas the use of CDS for hedging purposes suggests that the …
Persistent link: https://www.econbiz.de/10010669131