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| Author: | Pirchegger, B. |
| Title: | Hedge accounting incentives for cash flow hedges or forecasted transactions |
| Journal: | European Accounting Review
2006 : VOL. 15:1, p. 115-135 |
| Index terms: | accounting standards financial accounting hedging moral hazard |
| Language: | eng |
| Abstract: | This article examines corporate incentives for hedge accounting in the presence of a moral hazard problem. The authors set up a two-period LEN-type agency model where the agent is risk averse, and the principal is risk neutral. The authors find that the principal prefers hedging as opposed to not hedging. |
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