The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Why Firms Use Currency Derivatives
Abstract
We examine the use of currency derivatives in order to differentiate among existing theories of hedging behavior. Firms with greater growth opportunities and tighter financial constraints are more likely to use currency derivatives. This result suggests that firms might use derivatives to reduce cash flow variation that might otherwise preclude firms from investing in valuable growth opportunities. Firms with extensive foreign exchange‐rate exposure and economies of scale in hedging activities are also more likely to use currency derivatives. Finally, the source of foreign exchange‐rate exposure is an important factor in the choice among types of currency derivatives.
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Citations
Cites
Determinants of corporate borrowing
Myers, S. C. (1977) · Journal of Financial Economics · doi:10.1016/0304-405x(77)90015-0 · Cited by 13,169
The Determinants of Capital Structure Choice
TITMAN, S., & WESSELS, R. (1988) · The Journal of Finance · doi:10.1111/j.1540-6261.1988.tb02585.x · Cited by 6,112
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
The Foreign Exchange Exposure of Japanese Multinational Corporations
He, J., & Ng, L. K. (1998) · The Journal of Finance · doi:10.1111/0022-1082.295575 · Cited by 601
Does the Use of Financial Derivatives Affect Earnings Management Decisions?
Barton, J. (2001) · The Accounting Review · doi:10.2308/accr.2001.76.1.1 · Cited by 412
Does hedging affect firm value? Evidence from the US airline industry
Carter, D. A., Rogers, D. A., & Simkins, B. J. (2006) · Financial Management · doi:10.1111/j.1755-053x.2006.tb00131.x · Cited by 389
Metadata
- Authors
- GÉCZY, C., MINTON, B. A., & SCHRAND, C.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1997-09
- Volume
- 52
- Issue
- 4
- Pages
- 1323-1354
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3124314758
- Cited by
- 1,156
- References
- 2
- FWCI
- 98.21
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
