Marek Klimczak, Karol - In: The Journal of Risk Finance 9 (2008) 1, pp. 20-39
Purpose – This paper aims to provide a comprehensive empirical assessment of major contemporary corporate hedging … theories, i.e. financial theory, agency theory, stakeholder theory and new institutional economics. Design …/methodology/approach – Hypotheses regarding the determinants of hedging are tested on a sample of 150 companies listed on the Warsaw Stock Exchange. The …