Long-term investors face a common problem - how to maintain the purchasing power of their assets over time and achieve a level of real returns consistent with their investment objectives. While inflation-linked bonds and derivatives have been developed to hedge the effects of inflation, their...

Financial derivatives are considered efficient risk management instruments that help firms avoid financial risks and improve firm value. Yet, based on a sample of publicly traded firms with foreign sales in China, we find that state-owned enterprises (SOEs) conduct derivative hedging both at a...

Long-term investors face a common problem-how to maintain the purchasing power of their assets over time and achieve a level of real returns consistent with their investment objectives. While inflation-linked bonds and derivatives have been developed to hedge the effects of inflation, their...