Une mesure empirique des déterminants qui affectent la gestion des risques des entreprises non financières

Georges Dionne () and Martin Garand
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Martin Garand: HEC Montreal, Canada Research Chair in Risk Management

No 00-9, Working Papers from HEC Montreal, Canada Research Chair in Risk Management

Abstract: 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 gold mining industry in North America. We show that many factors related to the objective of firm value maximization are significant, contrary to other studies in the literature who obtained that, practically, only managerial risk aversion factors were the most significant.

Keywords: Empirical measure; determinants; risk management; non-financial firms; Tobit; panel; mining enterprises; gold (search for similar items in EconPapers)
JEL-codes: D80 G10 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2000-10-01
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Related works:
Working Paper: Une mesure empirique des diterminants qui affectent la gestion des risques des entreprises non financieres (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:crcrmw:2000_009

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