Publicação
The value of hedging through corporate governance : a literature review and directions for future research
| Resumo: | Previous empirical studies concerning corporate hedging have investigated several arguments that have been suggested to explain why corporate hedging is value-enhancing. Another stream of research examined the direct impact of hedging on firm value. Also in line with this, recent studies show that the corporate governance environment could be an important factor in understanding the value of hedging activities. This paper aims to present a comprehensive overview of the theoretical and empirical literature on these issues. We draw three main conclusions. First, it is necessary to identify appropriate measures of hedging activity beyond the use of derivatives. Second, it is essential to get more evidence on the effect of corporate governance in the value of hedging, not disregarding the possibility that these decisions can be undertaken simultaneously. Finally, it is important to expand empirical evidence to non-US firms. |
|---|---|
| Autores principais: | Jorge, Maria João |
| Outros Autores: | Augusto, Mário Gomes |
| Assunto: | corporate governance firm value hedging financial risks |
| Ano: | 2011 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1866811603553353728 |
|---|---|
| author | Jorge, Maria João |
| author2 | Augusto, Mário Gomes |
| author2_role | author |
| author_facet | Jorge, Maria João Augusto, Mário Gomes |
| author_role | author |
| contributor_name_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Jorge, Maria João\"},{\"Person.name\":\"Augusto, Mário Gomes\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Jorge, Maria João Augusto, Mário Gomes |
| datacite.date.Accepted.fl_str_mv | 2011-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2015-11-06T15:21:45Z |
| datacite.date.embargoed.fl_str_mv | 2015-11-06T15:21:45Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | corporate governance firm value hedging financial risks |
| datacite.titles.title.fl_str_mv | The value of hedging through corporate governance : a literature review and directions for future research |
| dc.contributor.none.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Jorge, Maria João Augusto, Mário Gomes |
| dc.date.Accepted.fl_str_mv | 2011-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2015-11-06T15:21:45Z |
| dc.date.embargoed.fl_str_mv | 2015-11-06T15:21:45Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/10084 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | corporate governance firm value hedging financial risks |
| dc.title.fl_str_mv | The value of hedging through corporate governance : a literature review and directions for future research |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| description | Previous empirical studies concerning corporate hedging have investigated several arguments that have been suggested to explain why corporate hedging is value-enhancing. Another stream of research examined the direct impact of hedging on firm value. Also in line with this, recent studies show that the corporate governance environment could be an important factor in understanding the value of hedging activities. This paper aims to present a comprehensive overview of the theoretical and empirical literature on these issues. We draw three main conclusions. First, it is necessary to identify appropriate measures of hedging activity beyond the use of derivatives. Second, it is essential to get more evidence on the effect of corporate governance in the value of hedging, not disregarding the possibility that these decisions can be undertaken simultaneously. Finally, it is important to expand empirical evidence to non-US firms. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | article |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/2c573159-83c6-4a26-8cde-259804b8c93a/download |
| id | ul_7bbb9044bfc134fc198c8f81bbcb8db7 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/10084 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/10084 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Jorge, Maria João Augusto, Mário Gomes |
| publishDate | 2011 |
| publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engInstituto Superior de Economia e Gestãopt_PTPrevious empirical studies concerning corporate hedging have investigated several arguments that have been suggested to explain why corporate hedging is value-enhancing. Another stream of research examined the direct impact of hedging on firm value. Also in line with this, recent studies show that the corporate governance environment could be an important factor in understanding the value of hedging activities. This paper aims to present a comprehensive overview of the theoretical and empirical literature on these issues. We draw three main conclusions. First, it is necessary to identify appropriate measures of hedging activity beyond the use of derivatives. Second, it is essential to get more evidence on the effect of corporate governance in the value of hedging, not disregarding the possibility that these decisions can be undertaken simultaneously. Finally, it is important to expand empirical evidence to non-US firms.application/pdfpt_PTThe value of hedging through corporate governance : a literature review and directions for future researchJorge, Maria JoãoAugusto, Mário GomesHostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.pt2015-11-06T15:21:45Z20112011-01-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/10084http://purl.org/coar/access_right/c_abf2open accesscorporate governancefirm valuehedgingfinancial risks328863 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal articlehttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/2c573159-83c6-4a26-8cde-259804b8c93a/downloadPortuguese Journal of Management StudiesXVI2113130Lisboa |
| spellingShingle | The value of hedging through corporate governance : a literature review and directions for future research Jorge, Maria João corporate governance firm value hedging financial risks |
| status | SINGLETON |
| subject.fl_str_mv | corporate governance firm value hedging financial risks |
| title | The value of hedging through corporate governance : a literature review and directions for future research |
| title_full | The value of hedging through corporate governance : a literature review and directions for future research |
| title_fullStr | The value of hedging through corporate governance : a literature review and directions for future research |
| title_full_unstemmed | The value of hedging through corporate governance : a literature review and directions for future research |
| title_short | The value of hedging through corporate governance : a literature review and directions for future research |
| title_sort | The value of hedging through corporate governance : a literature review and directions for future research |
| topic | corporate governance firm value hedging financial risks |
| topic_facet | corporate governance firm value hedging financial risks |
| url | http://hdl.handle.net/10400.5/10084 |
| visible | 1 |