haku: @author Allayannis, G. / yhteensä: 2
viite: 2 / 2
« edellinen | seuraava »
| Tekijä: | Allayannis, G. Weston, J.P. |
| Otsikko: | The use of foreign currency derivatives and firm market value |
| Lehti: | Review of Financial Studies
2001 : SPRING, VOL. 14:1, p. 243-276 |
| Asiasana: | COMPANY VALUE DERIVATIVE SECURITIES FOREIGN EXCHANGE USA |
| Kieli: | eng |
| Tiivistelmä: | This article examines the use of foreign currency derivatives (FCDs) in a sample of 720 large U.S. nonfinancial firms between 1990 and 1995 and its potential impact on firm value. Using Tobin's Q as a proxy for firm value, the authors find a positive relation between firm value and the use of FCDs. The hedging premium is statistically and economically significant for firms with exposure to exchange rates and is on average 4,87% of firm value. |
« edellinen | seuraava »
SCIMA