strategy has two elements: First, for low leverage values, the firm fully hedges its operating cash flow exposure, due to the … hedging Second, the firm manages its capital structure through dividend distributions and investment. When leverage is low …

to higher delinquencies and interest rates, while exports are unaffected. Natural and financial hedging successfully mute …

risk – hedging use of firm's debt – or to increase their return and risk – speculative use of firm's debt. Modigliani and …

mediates the relation between corporate financial hedging and firm value. In this regard, active risk management positively …, capital structure and financial hedging decisions appear rather as complements instead of substitutes. This implies that … management to carry out profitable projects and research and development activities. Overall, corporate hedging is especially …

This paper provides a theory of debt and hedging based on human capital. We distinguish human capital from physical … information concerning costs, the only viable solution has the firm issuing debt to outsiders and hedging …

Using a large panel of UK public firms, we examine the relationship between the financial risk hedging and the cost of … is priced in investors’ expectations. While financial risk hedging serves as a vehicle for firms to alleviate cash flows … addition, we hypothesize and test whether the nature of relation between financial risk hedging and cost of equity capital …