Derivatives Usage: Value-Adding Or Destroying?

Derivatives Usage: Value-Adding Or Destroying?

The following article tests the wealth-building nature of derivatives usage in non-financial firms. Investigating 434 firms and employing univariate and multivariate tests, it uses both the fair values and notional values of firms derivatives contracts to determine whether derivatives usage enhances...

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Veröffentlicht in:Journal of business & economics research (Littleton, Colo.) Colo.), 2011-11, Vol.9 (11), p.41
Hauptverfasser: Naito, John, Laux, Judy
Format: Artikel
Sprache:eng
Schlagworte:
Bankruptcy
Capital expenditures
Capital structure
Contracts
Derivatives
Economic statistics
Economic theory
Efficient markets
Fair value
Hedging
Hypotheses
Prices
R&D
Research & development
Risk management
Securities analysis
Shareholders wealth
Stockholders
Studies
Values
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Beschreibung
Zusammenfassung:The following article tests the wealth-building nature of derivatives usage in non-financial firms. Investigating 434 firms and employing univariate and multivariate tests, it uses both the fair values and notional values of firms derivatives contracts to determine whether derivatives usage enhances or destroys firm value.
ISSN:1542-4448
2157-8893
DOI:10.19030/jber.v9i11.6499