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Derivatives and Financial Crisis : The Costs of Speculation in Brazil (Aracruz and Sadia)

Perera, Luiz C. J. - 2012

This study aimed to verify the speculation costs incurred by Aracruz and Sadia due to their high degree of leverage … with derivative instruments. The main results evidenced agency problems, with disproportionate investments in hedge … witnessed Sadia and Aracruz shares end 2008 down about 70% against 28% of the market index …

Persistent link: https://www.econbiz.de/10013101040

Hedge or Speculation? Evidence of the Use of Derivatives by Brazilian Firms During the Financial Crisis

Rossi Júnior, José - 2012

This paper analyzes the use of foreign exchange derivatives by non-financial publicly traded Brazilian companies from 2007 to 2009. Using balance-sheet data on firms' positions in derivatives and their foreign exchange exposure, this study finds that a significant number of companies speculated...

Persistent link: https://www.econbiz.de/10013109132

Margin trade, short sales and financial stability

Sng, Hui Ying; Zhang, Yang; Zheng, Huanhuan - In: Journal of economic interaction and coordination 15 (2020) 3, pp. 673-702

Persistent link: https://www.econbiz.de/10012296956

Kernschmelze im Finanzsystem

Münchau, Wolfgang - 2008 - Komplett überarb. und aktualisierte Aufl. des Buches "Vorbeben"

Die schwerste Finanzkrise seit 80 Jahren hat die Welt in den Fugen erschüttert. Es droht eine Kernschmelze des globalen … absehbar.Wolfgang Münchau hat als einer der Ersten die Finanzkrise präzise vorhergesehen und in seinem preisgekrönten Buch …