both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of … German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage …

2007 to 2009. Using balance-sheet data on firms’ positions in derivatives and their foreign exchange exposure, the paper … the volume of derivatives used during this period, but used them in line with their currency exposure – and active … explain the use of derivatives and hedging by firms but market timing in the derivative markets is explained solely by firms …

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 … derivatives. It characterizes optimal hedge positions and shows that regret aversion leads to stronger incentives to hedge …

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 … derivatives. It characterizes optimal hedge positions and shows that regret aversion leads to stronger incentives to hedge …

hedging strategies that lead to hefty losses in the aftermath of the financial crisis. The sample is comprised of 346 …$18.9 billion. An event study shows that most companies that present losses in derivatives experience negative abnormal … indicate that the lack of a formal hedging policy, no monitoring to the CFOs, and considerations of hubris and remuneration …

This paper provides empirical evidence of firm-specific factors determining the decision to use derivatives and the … level of usage for the case of Indonesia. The findings show that the participation rate in the use of derivatives is 15 … that the use of derivatives is positively associated with firm size, market-to-book value, bank-firm relationship, and the …

stakeholder groups’ interests. A study of the use of hedging instruments in 161 Polish non-financial listed companies is then … determine relationships between the hedging decision and financial standing of companies. However, company size is proved to be … the only significant factor for a hedging decision. The implications of these findings and new research questions are …

investigated derivatives usage for risk management purposes in the US (see, among others, Bodnar, Hayt, Marston and Smithson, 1995 … foreign exchange exposure and hedge more currency risk.US firms have more concerns regarding derivative usage, which may be … tend to rely on OTC-transactions, US firms use exchange-traded derivatives and therefore require a higher counter party …

optimal hedge ratio given the outcome of past hedging decisions and future expectations. The model implies that the optimal … 2015 and find strong evidence for the model's predictions. By adding a dynamic regret approach to the hedging and FX … literature we shed further light on the rationale behind selective hedging. …