Major airlines rely on fuel hedging to manage risk of volatile fuel prices. We show that fuel hedging leads to lump sum … airline fuel costs. Our estimation results suggest that differences in reported fuel costs across airlines (due to … heterogeneous fuel hedging outcomes) lead to significant differences in ticket prices. In particular, a 10% reduction in the …

Purpose: Investigation of the relation between firms' values and aviation fuel hedging activities via a dynamic panel … data from nine U.S. major passenger airlines representing 77.2 per cent of the U.S. domestic airline industry, in terms of … statistically significant long run relationship between firms' values and aviation fuel hedging activities for the U.S. major …

Purpose: Investigation of the relation between firms' values and aviation fuel hedging activities via a dynamic panel … data from nine U.S. major passenger airlines representing 77.2 per cent of the U.S. domestic airline industry, in terms of … statistically significant long run relationship between firms' values and aviation fuel hedging activities for the U.S. major …

Purpose: Investigation of the relation between firms’ values and aviation fuel hedging activities via a dynamic panel … data from nine U.S. major passenger airlines representing 77.2 per cent of the U.S. domestic airline industry, in terms of … statistically significant long run relationship between firms’ values and aviation fuel hedging activities for the U.S. major …

spot prices and US equity prices following the 2007 Global Financial Crisis. It also aims at estimating hedging …,870 daily observations of US financial market during 2007-2017. Findings-The results suggest that the hedging effectiveness of … investors, policy makers and portfolio managers. The key findings of this study are critical in formulating optimal hedging …

Surveys of corporate risk management document that selective hedging, where managers incorporate their market views … into firms’ hedging programs, is widespread in the U.S. and other countries. Stulz (1996) argues that selective hedging … strength to withstand the additional risk from market timing. We study the practice of selective hedging in a 10-year sample of …

inside debt holdings have a positive effect on the extent to which a bank uses interest rate derivatives for hedging purposes …

This paper investigates the determinants of hedging strategy choice. We introduce different dynamic discrete choice … frameworks with random effects to mitigate unobserved heterogeneity and state dependence. Using a new dataset on the hedging … activities of 150 US oil and gas producers, we find strong evidence that hedging strategy is influenced by investment …

Using a hand-collected data, we provide evidence of extensive use of commodity derivative in hedging among U.S oil and … gas producers. We find large variations in hedging intensity and hedging profits while on average they generate … significant positive profits. The profits relate positively to the intensity of hedging. We further decompose the hedge ratio into …