la copertura dei rischi finanziari nelle imprese non finanziarie italiane attraverso gli strumenti derivati (the hedging of financial risks using derivatives by italian non-financial firms)
Article Quality & Performance Metrics
Readership in this journal
PopularRanked #76 of 184 articles by views in journal of plant resources and environment
Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 184 in total.
Mint this article as an NFT
Not yet mintedCreate a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.
Abstract
The paper deals with the use of derivatives by Italian non-financial firms, in order to analyse existing theories of hedging behaviour, and provides empirical evidence on a potential differentiation of determinants of derivative use over time. Univariate and multivariate analyses show that the determinants of derivative use reveal marked differences when compared in the different years, so they may change over time. In general, we find that the most determinant variable is foreign sales, and analysis therefore suggests the hypothesis that exposure to exchange rate risk is the strongest determinant in derivative use. Interest rate risk exposure seems to be less relevant. Moreover, from 1997, another variable proves determinant, firm size, which suggests that economies of scale could also be a key variable in derivative use. With respect to financial distress cost models, tax and agency cost theories, the results are mixed.
JEL Codes: G11, G31, G32, F31
Keywords: Financial Risk, Firm, Hedging
| Reference Key |
bison2012monetala
Use this key to autocite in the manuscript while using
SciMatic Manuscript Manager or Thesis Manager
|
|---|---|
| Authors | ;Gianluca Bison;Loriana Pellizzon;Domenico Sartore |
| Journal | journal of plant resources and environment |
| Year | 2012 |
| DOI |
DOI not found
|
| URL | |
| Keywords |
Citations
No citations found. To add a citation, contact the admin at info@scimatic.org
Comments
No comments yet. Be the first to comment on this article.