Le Burkina Faso des années 2000 a connu un véritable boom du secteur minier, aussi bien dans l'exploitation industrielle que celle artisanale. L'orpaillage traditionnelle présente une caractéristique clé de l'exploitation de l'or au Burkina Faso. Malgré ses effets environnementaux et...

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 could enhance the value of firms that possess an information...

We show that managerial overconfidence, which has been found to influence a number of corporate financial decisions, also affects corporate risk management. We find that managers increase their speculative activities using derivatives following speculative gains, while they do not reduce their...