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Derivatives and the Non-executive Director

Listed author(s):
  • Buckley, Adrian
  • van der Nat, Mattheus
Registered author(s):

    Do non-executive directors have the wherewithal to overview a corporation's integrity, quality of performance and management in the area of derivatives policy? In a survey of the understanding and monitoring of derivatives in a small sample of quoted companies, we found disturbing levels of ignorance among independent directors. Whilst three quarters of non-executive directors surveyed favoured the use of derivatives in appropriate circumstances, namely hedging, over two-thirds confessed to an inadequate knowledge on the topic of derivatives. Also, we found a series of naïve and dangerous views expressed by many participants in our survey of derivatives and the non-executive director.

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    Article provided by Elsevier in its journal European Management Journal.

    Volume (Year): 21 (2003)
    Issue (Month): 3 (June)
    Pages: 389-397

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    Handle: RePEc:eee:eurman:v:21:y:2003:i:3:p:389-397
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