The DOI matches its Crossref record; 44 of the 44 references it cites were found in a registry or an index.
Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers
Abstract
This paper studies the hedging policies of oil and gas producers between 1992 and 1994. My evidence shows that the extent of hedging is related to financing costs. In particular, companies with greater financial leverage manage price risks more extensively. My evidence also shows that the likelihood of hedging is related to economies of scale in hedging costs and to the basis risk associated with hedging instruments. Larger companies and companies whose production is located primarily in regions where prices have a high correlation with the prices on which exchange‐traded derivatives are based are more likely to manage risks.
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Citations
Cites
Theory of the firm: Managerial behavior, agency costs and ownership structure
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Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers
Jensen, M. C. (1986) · Cited by 17,275
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Agency costs of free cash flow, corporate finance, and takeovers
Jensen, M. C. (1996) · Corporate Bankruptcy · doi:10.1017/cbo9780511609435.005 · Cited by 9,306
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Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?
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Financing Constraints and Corporate Investment
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Financing Constraints and Corporate Investment
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Cited by
Is cash negative debt? A hedging perspective on corporate financial policies
Acharya, V. V., Almeida, H., & Campello, M. (2007) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2007.04.001 · Cited by 893
How much do firms hedge with derivatives?
Guay, W., & Kothari, S. P. (2003) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00179-x · Cited by 607
The Dynamics of Commodity Spot and Futures Markets: A Primer
Pindyck, R. S. (2001) · The Energy Journal · doi:10.5547/issn0195-6574-ej-vol22-no3-1 · Cited by 591
The Effects of Derivatives on Firm Risk and Value
Bartram, S. M., Brown, G. W., & Conrad, J. (2011) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109011000275 · Cited by 429
Does Enterprise Risk Management Increase Firm Value?
McShane, M. K., Nair, A., & Rustambekov, E. (2011) · Journal of Accounting, Auditing & Finance · doi:10.1177/0148558x11409160 · Cited by 417
Metadata
- Authors
- Haushalter, G. D.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2000-02
- Volume
- 55
- Issue
- 1
- Pages
- 107-152
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2094283948
- Cited by
- 745
- References
- 44
- FWCI
- 89.09
- Type
- journal article
- Language
- en
- Open access
- closed
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- Haushalter, G. D. (2000). Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers. The Journal of Finance. https://doi.org/10.1111/0022-1082.00202
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.