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Corporate Risk Management and Hedge Accounting*
Open accessAbstract
Motivated by the debate about the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS), this study investigates the effect of hedge accounting under IFRS on corporate risk management. Using a sample of large UK non-financial firms from 2003 to 2008, we show that the implementation of the new standards reduces the level of asymmetric information faced by derivative users. Specifically, for firms that hedge under IFRS we find that analysts’ forecast error and dispersion are significantly lower. The paper contributes to prior research on the effects of hedge accounting and on the adoption of IFRS.
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References 60 · Cited by 78
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Metadata
- Authors
- Panaretou, A., Shackleton, M. B., & Taylor, P. A.
- Affiliations
- Lancaster University (GB)
- Venue
- Contemporary Accounting Research
- Publisher
- Wiley
- Published
- 2012-03-08
- Volume
- 30
- Issue
- 1
- Pages
- 116-139
- ISSN
- 0823-9150 (ISSN-L)
- 1911-3846
- OpenAlex
- W2157162274
- Cited by
- 78
- References
- 60
- Citations by year
- 2026: 4 · 2025: 10 · 2024: 6 · 2023: 5 · 2022: 5 · 2021: 5 · 2020: 8 · 2019: 4 · 2018: 6 · 2017: 2 · 2016: 6 · 2015: 3 · 2014: 8 · 2013: 3 · 2012: 1
- FWCI
- 12.77
- Type
- journal article
- Language
- en
- Open access
- green
- eprints.lancs.ac.uk
- Locations
- Contemporary Accounting Research (publishedVersion)
- Lancaster EPrints (Lancaster University) (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Risk Management in Financial Firms
- Social Sciences › Business, Management and Accounting › Accounting › Auditing, Earnings Management, Governance
- Social Sciences › Business, Management and Accounting › Accounting › Accounting Theory and Financial Reporting
- Keywords
- hedge accounting, IFRS, IFRS adoption, corporate risk management, derivatives, information asymmetry, analyst forecast errors, forecast dispersion, non-financial firms
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