results show that foreign exchange exposure is negatively related to derivatives usage, and support the hedging explanation of … past 10 years, and relate this to higher derivatives market participation. Our methodology follows a three stage approach …-Dumas (1984) model. Next, we use an indirect approach to estimate the derivatives market participation at the firm level. Finally …

effectiveness of such hedges depends on the hedge horizon, they might affect a firm's usage of foreign exchange derivatives and lead …

effectiveness of such hedges depends on the hedge horizon, they might affect a firm's usage of foreign exchange derivatives and lead … ; hedging ; cointegrated VAR model …

, I show that it causes a reduction in the supply of FX derivatives (FXD) and results in a substantial decline in exports … for the firms that were heavily relying on FXD hedging. I offer a mechanism in which imbalances in hedging demand, banks …

the optimal hedge ratio for a multi-national corporate that aims to minimize the cost of hedging at a given tolerance … of hedges, and condensation of the parameters governing hedging decision into a single, intuitively-appealing number. The …

products for hedging purposes. The article at first presents and explains the guidelines. Then the derivatives have also been … dispositions du Règlement relatives à la couverture du risque de change et de prix dans l'UEMOA ont été présentées et expliquées … utilisations en de couverture de risque illustrées par de cas concrets. Les résultats de ces couvertures ont permis d …

investigate whether hedging facilitates outbound income shifting. Consistent with hedging lowering costs associated with exchange … rate volatility, I find that U.S. firms that use more currency derivatives tend to shift more income to low-tax foreign …