This study examines the relation between bank equity ownership and corporate hedging in Japan, an economy where banks … ownership is positively related to the corporate usage of derivatives. We also find very little evidence that firm …-level financial constraints affect derivatives usage. We further analyze the relation between derivatives usage and firm value to …

Firms commonly engage in a practice known as ‘selective hedging', i.e. adjusting the timing and size of hedging … hedging using hand-collected data from the oil and gas industry. The most robust finding is that selective hedging increases … confident. Another set of findings suggests over-confidence, however, since selective hedging is associated with lower realized …

This study examines the managerial power-hypothesis of selective hedging, which holds that selective hedging is … observed more frequently in companies where managers have greater latitude to execute hedging proposals without serious … from the oil and gas industry. The results support the view that managerial power increases selective hedging. The main …

We explore how corporate hedging decisions are affected by family ownership and control in Thailand. One crucial … advantage of investigating this issue in Thailand is that hedging instruments became available only recently, long after … presence on the board of directors, the firm is significantly more likely to engage in hedging activities. Furthermore, we find …