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 … strength to withstand the additional risk from market timing. We study the practice of selective hedging in a 10-year sample of …

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 are believed to possess an information advantage. In contrast, we find …

hedging decision, while executive shareholdings has a negative association. However, we do not find any support for the …

We explore how corporate hedging decisions are affected by family ownership and control in Thailand. One crucial … advantage of investigating this issue in Thailand is that hedging instruments became available only recently, long after … presence on the board of directors, the firm is significantly more likely to engage in hedging activities. Furthermore, we find …