Derivative Practices in Australian and Canadian Industries

Franziska Wolf, Terry Boulter () and Sukanto Bhattacharya ()
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Franziska Wolf: Deakin Business School, Deakin University, Australia
Terry Boulter: Graduate School of Business and Law, RMIT University, Australia
Sukanto Bhattacharya: Deakin Business School, Deakin University, Australia

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2017, vol. 20, issue 04, 1-39

Abstract: This study examines derivative practices of Australian and Canadian firms from 2009 to 2013 in a post-global financial crisis environment. Our results show significant differences in the level of derivative usage between both countries, in contrast to earlier hedging studies. We also observe that Canadian firms have a higher propensity to use financial derivatives. We find similarities in derivative usage for firms operating in the industrials, materials, consumer discretionary, and healthcare industries. However, corporate derivative practices seem to be significantly different for energy and IT firms during the sample period.

Keywords: Financial risk management; derivatives; industry hedging (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1142/S0219091517500278

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