Derivatives Usage by Australian Industrial Firms: Pre-, during and post-GFC
Hassan Tanha (),
Michael Dempsey and
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Hassan Tanha: Finance and Financial Services Discipline, College of Business, Victoria University, Ballarat Rd, Footscray VIC 3011, AUSTRALIA
Michael Dempsey: Tan Duc Thang University, Ho Chi Minh City, VIETNAM
Mena Labeb: Victoria University, Ballarat Rd, Footscray VIC 3011, AUSTRALIA
Review of Economics & Finance, 2018, vol. 11, 31-39
We avail of International Accounting Standards IFRS 7 to investigate the usage and motivation of hedging by non-financial Australian firms. We examine the usage of derivative instruments in relation to features such as firm size, the firm¡¯s return on equity, leverage, and growth characteristics. The results of our panel data logistic regression indicate that the use of hedging instruments in Australia is influenced positively by the firm¡¯s gearing ratio and negatively by its propensity to growth.
Keywords: Derivatives; Hedging; Risk management; Panel data; Logit analysis (search for similar items in EconPapers)
JEL-codes: G32 G15 C33 G41 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:bap:journl:180103
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