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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.

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  • Hoa Nguyen & Robert Faff, 2007. "Does the Type of Derivative Instrument Used by Companies Impact Firm Value?," Accounting, Finance, Financial Planning and Insurance Series 2007_15, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  • Handle: RePEc:dkn:acctwp:aef_2007_15

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    1. repec:tei:journl:v:10:y:2017:i:3:p:67-72 is not listed on IDEAS
    2. Kim, Huong Trang & Papanastassiou, Marina & Nguyen, Quang, 2017. "Multinationals and the impact of corruption on financial derivatives use and firm value: Evidence from East Asia," Journal of Multinational Financial Management, Elsevier, vol. 39(C), pages 39-59.
    3. Lau, Chee Kwong, 2016. "How corporate derivatives use impact firm performance?," Pacific-Basin Finance Journal, Elsevier, vol. 40(PA), pages 102-114.

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