Does the Type of Derivative Instrument Used by Companies Impact Firm Value?
Hoa Nguyen () and
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Hoa Nguyen: Deakin University
No 2007_15, Accounting, Finance, Financial Planning and Insurance Series from Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance
We explore the relationship between the type of derivative instrument used and firm value, in a sample of Australian firms. Specifically, we examine the impact of the corporate use of swaps, futures, forwards and options, and the extent of such usage, on firm value. Our findings suggest that a ‘discount’ is most severely imposed on users of swaps.
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Journal Article: Does the type of derivative instrument used by companies impact firm value? (2010)
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Persistent link: http://EconPapers.repec.org/RePEc:dkn:acctwp:aef_2007_15
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