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...

The widespread practice of managers speculating by incorporating their market views into firms' hedging programs (“selective hedging”) remains a puzzle. Using a 10-year sample of North American gold mining firms, we find no evidence that selective hedging is more prevalent among firms that...

The implementation of Corporate Social Responsibility (CSR) programmes in Indonesia still largely involves charity to the community or efforts to earn a good name in the wider sphere. This is most especially the case in gold mining, where both large companies and community mining use hazardous...