Does the type of derivative instrument used by companies impact firm value?
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.
Volume (Year): 17 (2010)
Issue (Month): 7 ()
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