haku: @author Haushalter, D. / yhteensä: 2
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| Tekijä: | Haushalter, D. |
| Otsikko: | Financing policy, basis risk, and corporate hedging: evidence from oil and gas products |
| Lehti: | Journal of Finance
2000 : FEB, VOL. 55:1, p. 107-152 |
| Asiasana: | FINANCE POLICY RISK |
| Kieli: | eng |
| Tiivistelmä: | This paper studies the hedging policies of oil and gas producers between 1992 and 1994. The author's evidence shows that the extent of hedging is related to financial costs. In particular, companies with greater financial leverage manage price risks more extensively. The likelihood of hedging is related to economies of scale in hedging costs and to the basis risk associated with hedging instruments. |
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