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. …

We study the effect of derivatives use for both trading and hedging on firm value and financial and market performance … interest rate risk hedging enhances value, and that hedging with derivatives erodes financial and market performance. We also …