Risk Management Determinants Affecting Firms' Values in the Gold Mining Industry: New Empirical Results
Georges Dionne and
Ecole des Hautes Etudes Commerciales de Montreal- from Ecole des Hautes Etudes Commerciales de Montreal-Chaire de gestion des risques.
The goal of this article is to isolate the significant determinants that affect the decision of non-financial firms to hedge their risks. Our application is for the North American gold mining industry. The random variable considered is the selling price of an ounce of gold. We show that several factors related to maximizing the firm's value significantly affect the decision to hedge the price of gold.
Keywords: RISK; TAXES; MINES (search for similar items in EconPapers)
JEL-codes: L71 L72 G24 (search for similar items in EconPapers)
Pages: 16 pages
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Journal Article: Risk management determinants affecting firms' values in the gold mining industry: new empirical results (2003)
Working Paper: Risk Management Determinants Affecting Firms' Values in the Gold Mining Industry: New Empirical Results (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:etcori:00-11
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