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Interaction between real options and financial hedging: Fact or fiction in managerial decision-making

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  • Aabo, Tom
  • Simkins, Betty J.

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  • Aabo, Tom & Simkins, Betty J., 2005. "Interaction between real options and financial hedging: Fact or fiction in managerial decision-making," Review of Financial Economics, Elsevier, vol. 14(3-4), pages 353-369.
  • Handle: RePEc:eee:revfin:v:14:y:2005:i:3-4:p:353-369
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    References listed on IDEAS

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    1. Linda Allen & Christos Pantzalis, 1996. "Valuation of the operating Flexibility of Multinational Corporations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 27(4), pages 633-653, December.
    2. Martha Amram & Nalin Kulatilaka, 2000. "Strategy And Shareholder Value Creation: The Real Options Frontier," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(2), pages 15-28.
    3. Bengtsson, Jens & Olhager, Jan, 2002. "The impact of the product mix on the value of flexibility," Omega, Elsevier, vol. 30(4), pages 265-273, August.
    4. Bhagwan Chowdhry & Jonathan T. B. Howe, 1999. "Corporate Risk Management for Multinational Corporations: Financial and Operational Hedging Policies," Review of Finance, European Finance Association, vol. 2(2), pages 229-246.
    5. Dennis E. Logue, 1995. "When Theory Fails: Globalization As A Response To The (Hostile) Market For Foreign Exchange," Journal of Applied Corporate Finance, Morgan Stanley, vol. 8(3), pages 39-48.
    6. Lenos Trigeorgis, 1993. "Real Options and Interactions With Financial Flexibility," Financial Management, Financial Management Association, vol. 22(3), Fall.
    7. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
    8. Bodnar, Gordan M. & Marston, Richard C., 2000. "A Simple Model of Foreign Exchange Exposure," Working Papers 00-3, University of Pennsylvania, Wharton School, Weiss Center.
    9. Joseph, Nathan Lael & Hewins, Robin David, 1997. "The Motives for Corporate Hedging among UK Multinationals," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 2(2), pages 151-171, April.
    10. Steven R. Grenadier, 2000. "Option Exercise Games: The Intersection Of Real Options And Game Theory," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(2), pages 99-107.
    11. Bruce Kogut & Nalin Kulatilaka, 1994. "Operating Flexibility, Global Manufacturing, and the Option Value of a Multinational Network," Management Science, INFORMS, vol. 40(1), pages 123-139, January.
    12. Alexander J. Triantis, 2000. "Real Options And Corporate Risk Management," Journal of Applied Corporate Finance, Morgan Stanley, vol. 13(2), pages 64-73.
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    Citations

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    Cited by:

    1. Brian Lucey & Britta Berghöfer, 2013. "Fuel Hedging, Operational Hedging and Risk Exposure– Evidence from the Global Airline Industry," The Institute for International Integration Studies Discussion Paper Series iiisdp433, IIIS.
    2. Zhao, Lima & Huchzermeier, Arnd, 2017. "Integrated operational and financial hedging with capacity reshoring," European Journal of Operational Research, Elsevier, vol. 260(2), pages 557-570.
    3. Song, Sangcheol & Lee, Seung-Hyun & Makhija, Mona, 2015. "Operational hedging in foreign direct investments under volatile and divergent exchange rates across countries," Journal of World Business, Elsevier, vol. 50(3), pages 548-557.
    4. Al-Shboul, Mohammad & Anwar, Sajid, 2014. "Foreign exchange rate exposure: Evidence from Canada," Review of Financial Economics, Elsevier, vol. 23(1), pages 18-29.
    5. repec:spr:manint:v:54:y:2014:i:1:d:10.1007_s11575-013-0198-8 is not listed on IDEAS
    6. repec:spr:manint:v:55:y:2015:i:1:d:10.1007_s11575-014-0233-4 is not listed on IDEAS
    7. repec:eee:corfin:v:46:y:2017:i:c:p:77-96 is not listed on IDEAS
    8. Aabo, Tom & Høg, Esben & Kuhn, Jochen, 2010. "Integrated foreign exchange risk management: The role of import in medium-sized manufacturing firms," Journal of Multinational Financial Management, Elsevier, vol. 20(4-5), pages 235-250, December.
    9. Aabo, Tom & Pantzalis, Christos & Sørensen, Helle & Toustrup, Malene Teilmann, 2016. "Corporate risk and external sourcing: A study of Scandinavian multinational firms," International Business Review, Elsevier, vol. 25(6), pages 1297-1308.
    10. Aabo, Tom & Ploeen, Rasmus, 2014. "The German humpback: Internationalization and foreign exchange hedging," Journal of Multinational Financial Management, Elsevier, vol. 27(C), pages 114-129.
    11. Aabo, Tom & Pantzalis, Christos & Park, Jung Chul, 2016. "Multinationality as real option facilitator — Illusion or reality?," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 1-17.
    12. repec:eee:jbfina:v:86:y:2018:i:c:p:70-86 is not listed on IDEAS
    13. repec:eee:eneeco:v:68:y:2017:i:c:p:515-521 is not listed on IDEAS
    14. Driouchi, Tarik & Bennett, David, 2011. "Real options in multinational decision-making: Managerial awareness and risk implications," Journal of World Business, Elsevier, vol. 46(2), pages 205-219, April.
    15. Berghöfer, Britta & Lucey, Brian, 2014. "Fuel hedging, operational hedging and risk exposure — Evidence from the global airline industry," International Review of Financial Analysis, Elsevier, vol. 34(C), pages 124-139.

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