pension to executives is significantly related to the higher likelihood and intensity of currency hedging strategies in MNCs … contribution of currency hedging induced by pension incentives to shareholder value. Supporting the hypothesis of optimal …

This paper analyzes optimal hedging of a tradable risk (e.g. price risk or exchange rate risk) with forward contracts … noise, cross hedging and speculating on the real risk premium are conflicting objectives; the level of relative risk …

This paper investigates corporate hedging under regret aversion. Regret-averse firms try to avoid deviations of their … hedging policy from the ex post best policy, an intuitive consideration if one has to justify one's decisions afterward. The … downside price risk than standard expected utility theory. In the profit region of the price distribution, however, regret …