This paper examines the foreign exchange (FX) hedging by firms listed on the Alternative Investment Market (AIM) in the UK to contribute to the empirical debate on the determinants of the FX hedging. Despite our selection criteria that all our firms have exposure to FX risk, we find that only...

Recently there have been a number of differing findings in the empirical evidence on fund performance. In this paper we suggest this difference could be explained by the treatment of the regression assumptions. The crucial question in this paper for investors is whether the presence of...