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A survey into the use of derivatives by large non‐financial firms operating in Belgium

Author

Listed:
  • Marc J. K. De Ceuster
  • Edward Durinck
  • Eddy Laveren
  • Jozef Lodewyckx

Abstract

Empirical evidence on the use of derivatives for risk management on the European continent is virtually non‐existent. To fill this gap, our survey documents the usage of derivatives by non‐financial large firms operating in Belgium. This paper provides descriptive evidence with respect to several questions that are raised in the literature. Why do firms hedge? Which financial risks are being managed? How widespread is the use of derivatives? Which derivatives are used for which purposes? How is a risk management policy implemented? How are performance measurement and reporting structured?

Suggested Citation

  • Marc J. K. De Ceuster & Edward Durinck & Eddy Laveren & Jozef Lodewyckx, 2000. "A survey into the use of derivatives by large non‐financial firms operating in Belgium," European Financial Management, European Financial Management Association, vol. 6(3), pages 301-318, September.
    • Handle: RePEc:bla:eufman:v:6:y:2000:i:3:p:301-318
    DOI: 10.1111/1468-036X.00126
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    Cited by:

    1. Gordon M. Bodnar & Abe de Jong & Victor Macrae, 2003. "The Impact of Institutional Differences on Derivatives Usage: a Comparative Study of US and Dutch Firms," European Financial Management, European Financial Management Association, vol. 9(3), pages 271-297, September.
    2. Richard Fabling & Arthur Grimes, 2015. "Over the Hedge: Do Exporters Practice Selective Hedging?," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 35(4), pages 321-338, April.
    3. Hassan Tanha & Michael Dempsey & Mena Labeb, 2018. "Derivatives Usage by Australian Industrial Firms: Pre-, during and post-GFC," Review of Economics & Finance, Better Advances Press, Canada, vol. 11, pages 31-39, February.
    4. Bodnar, G.M. & de Jong, A. & Macrae, V., 2001. "The Impact of Institutional Differences on Derivatives Usage," ERIM Report Series Research in Management ERS-2001-89-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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