Risk Management Determinants Affecting Firms' Values in the Gold Mining Industry: New Empirical Results

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

No 00-11, 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 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 management; non-financial companies; Tobit; panel; tax-save (search for similar items in EconPapers)
JEL-codes: D80 G10 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2000-11-01
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Related works:
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)
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:ris:crcrmw:2000_011

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