The Effects of Derivatives on Firm Risk and Value

No abstract is available for this paper.

• Publication year

  2011

• Venue

  Journal of Financial and Quantitative Analysis

• Publication date

  2011-05-17

• Fields of study

  Business, Economics

• Identifiers
  DOI 10.1017/S0022109011000275
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

• Why Are U.S. Stocks More Volatile

  2012cited by this paper
• ユーロの国際化の現状について--国際決済銀行『Triennial Central Bank Survey: Report on global foreign exchange market activity』2010年版および欧州中央銀行『The International Role of The Euro』2010年版を参考にしながら (短期共同研究プロジェクト 国際経済の法と経済学)

  2011cited by this paper
• CORPORATE HEDGING AND SHAREHOLDER VALUE

  2010cited by this paper
• Do investors value smooth performance

  2008cited by this paper
• The Value of Corporate Risk Management

  2007cited by this paper
• Taking a View: Corporate Speculation, Governance, and Compensation

  2007cited by this paper
• Firm Value and Hedging: Evidence from U.S. Oil and Gas Producers

  2006cited by this paper
• Hedging and Value in the U.S. Airline Industry

  2006cited by this paper
• Are Firms Successful at Selective Hedging?

  2005cited by this paper
• Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt

  2005cited by this paper
• Using Matching to Estimate Treatment Effects: Data Requirements, Matching Metrics, and Monte Carlo Evidence

  2004cited by this paper
• 7. Assessing Bias in the Estimation of Causal Effects: Rosenbaum Bounds on Matching Estimators and Instrumental Variables Estimation with Imperfect Instruments

  2004cited by this paper
• How Much Do Firms Hedge with Derivatives

  2003influential reference
• International Evidence on Financial Derivatives Usage

  2003cited by this paper
• The Impact of Institutional Differences on Derivatives Usage: A Comparative Study of US and Dutch Firms

  2003cited by this paper
• Risk management and the credit risk premium

  2002cited by this paper
• Corporate Use of Derivatives in Hong Kong and Singapore: A Survey

  2001influential reference
• The Impact of Institutional Differences on Derivatives Usage

  2001cited by this paper
• Exchange Rate Exposure, Hedging, and the Use of Foreign Currency Derivatives

  2001cited by this paper
• Do Firms Hedge in Response to Tax Incentives ?

  2001cited by this paper
• Are Corporations Reducing or Taking Risks with Derivatives?

  2001influential reference
• A survey into the use of derivatives by large non‐financial firms operating in Belgium

  2000cited by this paper
• Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers

  2000influential reference
• Corporate Risk Management as a Lever for Shareholder Value Creation

  2000cited by this paper
• Firms, Do You Know Your Currency Risk Exposure? Survey Results

  2000influential reference
• The impact of derivatives on firm risk: An empirical examination of new derivative users 1 I gratefu

  1999influential reference
• Derivative Usage by Nonfinancial Firms in Sweden with an International Comparison

  1999influential reference
• How Are Derivatives Used? Evidence from the Mutual Fund Industry

  1999cited by this paper
• Tax Incentives to Hedge

  1999cited by this paper
• 1998 Wharton Survey of Financial Risk Management by US Non-Financial Firms

  1998cited by this paper
• The Use of Foreign Currency Derivatives and Firm Market Value

  1998influential reference
• The Determinants of Stock Price Exposure: Financial Engineering and the Gold Mining Industry

  1998cited by this paper
• Agency Costs, Risk Management, and Capital Structure

  1998cited by this paper
• An international comparison of derivatives use

  1997influential reference
• Why Firms Use Currency Derivatives

  1997cited by this paper
• Large UK Companies and Derivatives

  1997influential reference
• Evidence on Corporate Hedging Policy

  1996influential reference
• Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry

  1996cited by this paper
• Corporate Incentives for Hedging and Hedge Accounting

  1995cited by this paper
• 1995 Wharton Survey of Derivatives Usage by US Non-Financial Firms

  1995cited by this paper
• On the Determinants of Corporate Hedging

  1993cited by this paper
• Risk Management: Coordinating Corporate Investment and Financing Policies

  1992cited by this paper
• Managing Financial Risk.

  1989cited by this paper
• The Determinants of Firms' Hedging Policies

  1985cited by this paper
• Optimal Hedging Policies

  1984cited by this paper
• The central role of the propensity score in observational studies for causal effects

  1983influential reference
• Sample Selection Bias as a Specification Error: Comment

  1981cited by this paper
• Sample selection bias as a specification error

  1979cited by this paper
• The Cost of Capital, Corporation Finance and the Theory of Investment

  1958cited by this paper

• Derivative Gains/Losses: Quantity Risk, Corporate Hedge Effectiveness and Earnings

  2026cites this paper
• Comparative analysis of derivatives usage patterns among Fortune 500 companies during the market volatility periods

  2026cites this paper
• Top management’s financial experience, backgrounds in regulatory and non-regulatory financial institutions, and corporate tax aggressiveness

  2026cites this paper
• Estrategias de cobertura con instrumentos financieros derivados: análisis de su tratamiento fiscal en el Perú

  2026cites this paper
• CEOs’ Early-Life Disaster Experiences and Corporate Hedging Activities

  2026cites this paper
• Dynamic Agency, financial hedging and optimal investment

  2026cites this paper
• The Impact of Financial Derivatives on European Bank Value and Performance

  2026cites this paper
• CEO compensation–corporate hedging: does CSR matter? Evidence from South Asia

  2025cites this paper
• Friendly Juridical Representative Directors and Managerial Investment Decisions—Yes, the Derivatives Hedging Matter*

  2025cites this paper
• The risk effects of corporate digitalization: exacerbate or mitigate?

  2025cites this paper
• Managerial ownership and financial performance: empirical evidence of the application of sharia principles in Indonesia

  2025influential citation
• Derivatives Use, Internal Control and Firm Risk Hedging Effect

  2025cites this paper
• Exchange Rate Volatility and Its Impact on the Cash Flows of Non-Financial Firms: A Comprehensive Literature Review with Special Reference to the MENA Region

  2025cites this paper
• The strategic implications of financial derivatives in hedging corporate exposure to global economic volatility

  2025influential citation
• Derivative Complexity and the Stock Price Crash Risk: Evidence from China

  2025cites this paper
• The Effect of Fuel Hedging in the Airline Industry on Returns, Volatility, and on the Return-to-risk Relationship Analysis

  2025influential citation
• Firm performance and (foreign) debt financing before and during the global financial crisis: evidence from firm-level data

  2025cites this paper
• Firm Size and Firm Value in Manufacturing Companies Listed on The Indonesia Stock Exchange: Does Profitability Mediate The Relationship?

  2025cites this paper
• Green Innovation Under Financial and Policy Uncertainty: Evidence from China

  2025cites this paper
• Financial derivatives usage dynamics in Asia Pacific region

  2025cites this paper
• Derivatives in the Gulf Market: An Empirical Analysis of Usage, Impact, and Risk Management

  2025cites this paper
• How Do Financial Asset Holdings Affect Firm Value? Evidence from China

  2025cites this paper
• Enterprise risk management and foreign currency derivatives usage

  2025cites this paper
• Hedging vs. Speculation: The Role of Derivative Instruments in Risk Management

  2025cites this paper
• The Impact of Derivative Use on Default Probability Among Nonfinancial Firms: Evidence From European Firms

  2025cites this paper
• Shareholders' political hierarchy and regulatory enforcement: Evidence from corporate risk management

  2024cites this paper
• Impact of using derivatives on stock market liquidity

  2024cites this paper
• Explaining the diversity in findings on derivatives and firm value: Insights from firms' commodity futures use

  2024cites this paper
• Economic Policy Uncertainty and Options Market Participation: Hedge or Speculation?

  2024cites this paper
• Foreign Exchange Exposure and Hedging Strategies: A Case-Based Analysis of MNCs

  2024cites this paper
• Does internal control affect firms' use of derivatives? Evidence from China

  2024cites this paper
• Effects of incomplete information on risk management

  2024cites this paper
• Financial Hedging of Operational Risk Constraints: A General Framework

  2024cites this paper
• Risk management and private debt contracts: The role of weather derivatives

  2024cites this paper
• Does derivative usage boost firm value in an economy with controls? Evidence from India

  2024influential citation
• Hedging Strategy to Mitigate Exchange Rate Risk in Cross-Border Transactions: Literature Review

  2024influential citation
• Managing Risk Concerns with Ordered Backlogs in the Semiconductor Industry: An Empirical Study

  2024cites this paper
• Informational Efficiency of Cryptocurrency Markets

  2024influential citation
• Strategy of Derivatives Hedging: Maintaining and Increasing Firm Value amidst Market Volatility in Indonesia

  2024cites this paper
• Macroeconomic and financial dimensions influences on Indonesia's property and real estate companies value (2017-2022)

  2023cites this paper
• Corporate Hedging and Stock Market Dynamics: Evidence from PSX

  2023cites this paper
• Introduction to Financial Derivatives

  2023cites this paper
• Large-scale sports events, sports gambling market and promotion risk management: Theoretical model and case analysis based on option hedging theory

  2023cites this paper
• Fund flow-induced volatility and the cost of debt

  2023cites this paper
• Causality in Empirical Analyses With Emphasis on Asymmetric Information and Risk Management

  2023cites this paper
• Digesting FOREXS: Information Transmission Across Asset Classes and Return Predictability

  2023cites this paper
• Determinants and Real Effects of Joint Hedging: An Empirical Analysis of Us Oil and Gas Producers

  2023cites this paper
• Does the Derivatives Usage Affect Corporate Capital Expenditure? Evidence from China

  2023cites this paper
• Firm performance & effective mitigation of adverse business scenarios

  2023cites this paper
• Does D&O insurance mislead creditors' lending decisions? Evidence from corporate debt maturity structure

  2023cites this paper
• How Do Women on Board Reduce a Firm’s Risks to Ensure Sustainable Performance during a Crisis?

  2023cites this paper
• Derivative disclosures and managerial opportunism

  2023cites this paper
• Precautionary motive or private benefit motive for holding cash: Evidence from CEO ownership

  2023cites this paper
• The derivatives debate: do derivatives disclosures add value during difficult times?

  2023cites this paper
• Arbitrage opportunities in the energy equity futures - A study from Indian perspective

  2023cites this paper
• Currency Carry Trades, Risk Management, and Firm Value: Evidence from Korean Banking Industry

  2023cites this paper
• Exploring Risk Management Issues in the Technological Sector: The Effect of the Use of Derivatives Hedging on Technology Firms’ Value

  2023cites this paper
• DO MANAGER POLICIES LEAD TO CORPORATE IDIOSYNCRATIC RISK?

  2023cites this paper
• Effects of Fair Value Reporting of Derivatives on Liquidity Management Policies and Firm Value: Evidence From SFAS No. 133

  2023cites this paper
• How to balance economic profits and environmental protection: The impacts of cash hedging on remanufacturing supply chain

  2023cites this paper
• Why do banks use credit default swaps (CDS)? A systematic review

  2023cites this paper
• Exploring Commonality in Liquidity and Volatility Risk Pricing in Indian Stock Markets

  2023cites this paper
• Do Derivatives Benefit Shareholders? Evidence from India

  2023cites this paper
• The risk of SIN or socially irresponsible stocks

  2023cites this paper
• Connectedness between Currency Risk Hedging and Firm Value: A Deep Neural Network-based Evaluation

  2023influential citation
• How does the Paris Agreement affect firm productivity? International evidence

  2023cites this paper
• Determinants and Real Effects of Joint Hedging an Empirical Analysis of the Us Petroleum Industry

  2022influential citation
• Corporate social responsibility and internationalisation in mitigating risk

  2022cites this paper
• CEO Risk Preferences, Hedging Intensity, and Firm Value

  2022cites this paper
• Valuing real options with endogenous payoff

  2022cites this paper
• Internationalization, foreign exchange exposure and firm risk

  2022cites this paper
• Effect of Liquidity and Managerial Ownership on the Usage of Derivative Instruments and Company Risk

  2022cites this paper
• Exchange Rate Risk Management using Currency Derivatives: The Case of Exposures to Japanese Yen

  2022cites this paper
• International evidence for the substitution effect of FX derivatives usage on bank capital buffer

  2022cites this paper
• Corporate hedging fragility in the over-the-counter market

  2022cites this paper
• IAES International Journal of Artificial Intelligence (IJ-AI)

  2022cites this paper
• The Impact Of Thin Trading Adjustments On Exchange Rate Exposure

  2022cites this paper
• DERIVATIVOS, VALOR DA FIRMA E GOVERNANÇA CORPORATIVA NO BRASIL

  2022cites this paper
• Do Nonfinancial Firms Use Financial Assets to Take Risk?

  2022influential citation
• Impact of Foreign Currency Derivatives on Firm Performance: Evidence on Shari’ah and non-Shari’ah Compliant Firms

  2022influential citation
• Corporate derivatives use and firm value: conditional role of corporate governance

  2022cites this paper
• Spot asset carry cost rates and futures hedge ratios

  2022cites this paper
• Is there a dark side of managerial ability? Evidence from the use of derivatives and firm risk in China

  2021cites this paper
• Risk management and the cost of equity: evidence from the United Kingdom’s non-life insurance market

  2021cites this paper
• Hedging on the Hill: Does Political Hedging Reduce Firm Risk?

  2021cites this paper
• Hedging, managerial ownership and firm value

  2021cites this paper
• Non-linear relationship between foreign currency derivatives and firm value: evidence on Sharīʿah compliant firms

  2021influential citation
• Deriving value or risk? Determinants and the impact of emerging market banks’ derivative usage

  2021cites this paper
• Financial distress and commodity hedging: Evidence from Canadian oil firms

  2021cites this paper
• Use of Derivative and Firm Performance: Evidence from the Chinese Shenzhen Stock Exchange

  2021cites this paper
• Navigating the factor zoo around the world: an institutional investor perspective

  2021cites this paper
• Securitisation special purpose entities, bank sponsors and derivatives

  2021cites this paper
• Corporate Derivatives and Risk Management: A Moderated Mediation Test

  2021cites this paper
• Financial Derivatives and Their Application in Enterprises

  2021cites this paper
• Production Suspension, Corporate Governance, and Firm Value

  2021cites this paper
• Mandatory governance reform and corporate risk management

  2021cites this paper
• Corporate social activities and stock price crash risk in the banking industry: International evidence

  2021cites this paper
• Does hedge disclosure influence cost of capital for European banks?

  2021cites this paper
• Do enhanced derivative disclosures work? An informational perspective

  2021cites this paper
• Value Creation of Enterprise Risk Management: Evidence from Malaysian Shariah-Compliant Firms

  2021cites this paper