Does the type of derivative instrument used by companies impact firm value?

被引：20

作者：

Nguyen, Hoa ^{[2
]}

Faff, Robert ^{[1
]}

机构：

[1] Monash Univ, Fac Business & Econ, Dept Accounting & Finance, Clayton, Vic 3800, Australia

[2] Deakin Univ, Fac Business & Law, Sch Accounting Econ & Finance, Burwood, Vic 3125, Australia

来源：

APPLIED ECONOMICS LETTERS | 2010年 / 17卷 / 07期

关键词：

D O I：

10.1080/13504850802297822

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We explore the relationship between the type of derivative instrument used and firm value, in a sample of Australian firms. Specifically, we examine the impact of the corporate use of swaps, futures, forwards and options, and the extent of such usage, on firm value. Our findings suggest that a 'discount' is most severely imposed on users of swaps.

引用

页码：681 / 683

页数：3

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