|TAILLE DU FICHIER||6.37 MB|
|AUTEUR||Laurent L. Jacque|
|FICHIER||International Corporate Finance - Value Creation with Currency Derivatives in Global Capital Markets.pdf|
Derivatives are an important class of financial instru- ... Given the derivatives market's global nature, users ... nation of the derivatives trading value chain (2.3). ... 5) See International Swaps and Derivatives Association 2003, p. 1. ... 1) Regional split for OTC derivatives according to underlying equity, currency of underlying ... firm's commitment to financial risk hedging with derivatives. ... hedging and firm value is negative when firms have a weak corporate governance. ... pay taxes and buy insurance, favours value creation and “voluntary” interest ... “The Use of Foreign Currency Derivatives and Firm Market Value.” ... “Global Currency Hedging.