This article analyzes the importance of supply-side fluctuations for corporate hedging. To establish a causal link, we … Safe Harbor Reform of 2005. Following the reform-induced expansion in the availability of derivatives, fuel hedging by … financially sound airlines. Similarly, we find that the hedging propensity increased in a general sample of non-financial firms …

and financial hedging. We find that contrary to a rational and frictionless benchmark, performance in previous derivatives …

This paper investigates corporate hedging under regret aversion. Regret-averse firms try to avoid deviations of their … hedging policy from the ex post best policy, an intuitive consideration if one has to justify one's decisions afterward. The … aversion reduces the hedging of price risk to avoid large regret in the case of increasing prices. The results show that regret …

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry … face costly external finance increase hedging after staggered state-level financial reform that reduces the costs of … hedging. Post reform impacted firms have lower risk and fewer negative income shocks. Product market competition is also …

optimal hedge ratio given the outcome of past hedging decisions and future expectations. The model implies that the optimal … 2015 and find strong evidence for the model's predictions. By adding a dynamic regret approach to the hedging and FX … literature we shed further light on the rationale behind selective hedging. …