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Derivatives Usage In Risk Management By Turkish Non-Financial Firms And Banks: A Comparative Study


  • Yakup Selvi

    (Istanbul University School of Business)

  • Aslı Türel

    (Istanbul University School of Business)


The purpose of this study to compare the previous research about how the non-finan cial companies listed in the Istanbul Stock Exchange (ISE) and deposit banks in Turkey havedisclosed information regarding the usage of derivatives, and the accounting treatment of thesederivatives. The results of these studies indicate that banks and the non-financial companies listedin the ISE-100 Indices, which represent 86 % of the market capitalization, use derivatives mainlyfor hedging purposes. However, the evidence that they usually prefer reporting their gains/lossesarising from these transactions as held for trading instead of applying hedge accounting ,since they could not meet the compulsory criterions described in the IAS 39.

Suggested Citation

  • Yakup Selvi & Aslı Türel, 2010. "Derivatives Usage In Risk Management By Turkish Non-Financial Firms And Banks: A Comparative Study," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 2(12), pages 1-19.
  • Handle: RePEc:alu:journl:v:2:y:2010:i:12:p:19

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    References listed on IDEAS

    1. Gordon M. Bodnar & Gregory S. Hayt & Richard C. Marston, 1998. "1998 Wharton Survey of Financial Risk Management by US Non-Financial Firms," Financial Management, Financial Management Association, vol. 27(4), Winter.
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    More about this item


    Derivative Instruments; IAS 39; IFRS 7; Hedge Accounting;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting


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