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Does Hedging Affect Firm Value? Evidence from the US Airline Industry

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Cited by:

  1. Jiao Wang & Lima Zhao & Arnd Huchzermeier, 2021. "Operations‐Finance Interface in Risk Management: Research Evolution and Opportunities," Production and Operations Management, Production and Operations Management Society, vol. 30(2), pages 355-389, February.
  2. Sung C. Bae & Taek Ho Kwon, 2021. "Hedging operating and financing risk with financial derivatives during the global financial crisis," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(3), pages 384-405, March.
  3. Mariana Vila Nova & António Melo Cerqueira & Elísio Brandão, 2015. "Hedging with Derivatives and Firm Value," FEP Working Papers 568, Universidade do Porto, Faculdade de Economia do Porto.
  4. Malik, Muhammad Farhan & Nowland, John & Buckby, Sherrena, 2021. "Voluntary adoption of board risk committees and financial constraints risk," International Review of Financial Analysis, Elsevier, vol. 73(C).
  5. Markus Hang & Jerome Geyer-Klingeberg & Andreas W. Rathgeber & Clémence Alasseur & Lena Wichmann, 2021. "Interaction effects of corporate hedging activities for a multi-risk exposure: evidence from a quasi-natural experiment," Review of Quantitative Finance and Accounting, Springer, vol. 56(2), pages 789-818, February.
  6. Massimo Massa & Lei Zhang, 2018. "Does corporate hedging attract foreign institutional investors? Evidence from international firms," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(5), pages 605-632, July.
  7. Chowdhury, Rajib & Doukas, John A. & Mandal, Sonik, 2023. "CEO risk preferences, hedging intensity, and firm value," Journal of International Money and Finance, Elsevier, vol. 130(C).
  8. Maria João Jorge & Mário Gomes Augusto, 2011. "The Value Of Hedging Through Corporate Governance: A Literature Review And Directions For Future Research," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(2), pages 113-130.
  9. Merkert, Rico & Swidan, Hassan, 2019. "Flying with(out) a safety net: Financial hedging in the airline industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 127(C), pages 206-219.
  10. Léautier, Thomas-Olivier & Rochet, Jean-Charles, 2014. "On the strategic value of risk management," International Journal of Industrial Organization, Elsevier, vol. 37(C), pages 153-169.
  11. Sheng‐Syan Chen & Robin K. Chou & Shu‐Fen Chou, 2009. "The Impact of Investment Opportunities and Free Cash Flow on Financial Liberalization:A Cross‐Firm Analysis of Emerging Economies," Financial Management, Financial Management Association International, vol. 38(3), pages 543-566, September.
  12. Nikolai Mouraviev & Nada K. Kakabadse, 2014. "Risk allocation in a public-private partnership: a case study of construction and operation of kindergartens in Kazakhstan," Journal of Risk Research, Taylor & Francis Journals, vol. 17(5), pages 621-640, May.
  13. Dionne, Georges & El Hraiki, Rayane & Mnasri, Mohamed, 2023. "Determinants and real effects of joint hedging: An empirical analysis of US oil and gas producers," Energy Economics, Elsevier, vol. 124(C).
  14. Fauver, Larry & Naranjo, Andy, 2010. "Derivative usage and firm value: The influence of agency costs and monitoring problems," Journal of Corporate Finance, Elsevier, vol. 16(5), pages 719-735, December.
  15. Geyer-Klingeberg, Jerome & Hang, Markus & Rathgeber, Andreas W., 2019. "What drives financial hedging? A meta-regression analysis of corporate hedging determinants," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 203-221.
  16. Thomas Kiptanui Tarus & Joel K Tenai & Joyce Komen, 2020. "Does Ownership Structure Affect Risk Management? Evidence from an Emerging Economy, Kenya," Journal of Accounting, Business and Finance Research, Scientific Publishing Institute, vol. 8(1), pages 1-10.
  17. Alexandridis, George & Chen, Zhong & Zeng, Yeqin, 2021. "Financial hedging and corporate investment," Journal of Corporate Finance, Elsevier, vol. 67(C).
  18. Bessler, Wolfgang & Conlon, Thomas & Huan, Xing, 2019. "Does corporate hedging enhance shareholder value? A meta-analysis," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 222-232.
  19. Kevin Aretz & Söhnke M. Bartram, 2010. "Corporate Hedging And Shareholder Value," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 33(4), pages 317-371, December.
  20. McCarthy, Scott & Oliver, Barry & Song, Sizhe, 2017. "Corporate social responsibility and CEO confidence," Journal of Banking & Finance, Elsevier, vol. 75(C), pages 280-291.
  21. César Augusto Giraldo-Prietoa & Gabriel Jaime González Uribe & Cristhian Vesga Bermejo & Diana Carolina Ferreira Herrera, 2017. "Coberturas financieras con derivados y su incidencia enel valor de mercado en empresas colombianas quecotizan en Bolsa," Contaduría y Administración, Accounting and Management, vol. 62(5), pages 17-18, Diciembre.
  22. Hansen, Erwin & Wagner, Rodrigo, 2017. "Stockpiling cash when it takes time to build: Exploring price differentials in a commodity boom," Journal of Banking & Finance, Elsevier, vol. 77(C), pages 197-212.
  23. J. Barry Lin & Christos Pantzalis & Jung Chul Park, 2017. "Corporate derivatives use policy and information environment," Review of Quantitative Finance and Accounting, Springer, vol. 49(1), pages 159-194, July.
  24. Turner, Peter A. & Lim, Siew Hoon, 2015. "Hedging jet fuel price risk: The case of U.S. passenger airlines," Journal of Air Transport Management, Elsevier, vol. 44, pages 54-64.
  25. Tai, Vivian W. & Lai, Yi-Hsun & Yang, Tung-Hsiao, 2020. "The role of the board and the audit committee in corporate risk management," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
  26. Chen, Yu-Lun & Chuang, Yi-Wei & Huang, Hong-Gia & Shih, Jhuan-Yu, 2020. "The value of implementing enterprise risk management: Evidence from Taiwan’s financial industry," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
  27. Lookman, Aziz A., 2009. "Bank borrowing and corporate risk management," Journal of Financial Intermediation, Elsevier, vol. 18(4), pages 632-649, October.
  28. Johnson Kolawole OLOWOOKERE & Bolarinwa R. FERUKE, 2021. "Value Relevance Of Risk Management Disclosure Among Listed Deposit Money Banks In Nigeria," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(4), pages 64-79, December.
  29. Yaghoub Abdi & Xiaoni Li & Xavier Càmara-Turull, 2023. "Firm value in the airline industry: perspectives on the impact of sustainability and Covid-19," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-24, December.
  30. Hofmann, Erik & Solakivi, Tomi & Töyli, Juuso & Zinn, Martin, 2018. "Oil price shocks and the financial performance patterns of logistics service providers," Energy Economics, Elsevier, vol. 72(C), pages 290-306.
  31. Mohamed Mnasri & Georges Dionne & Jean-Pierre Gueyie, 2013. "The Maturity Structure of Corporate Hedging: the Case of the U.S. Oil and Gas Industry," Cahiers de recherche 1337, CIRPEE.
  32. Elshandidy, Tamer & Acheampong, Albert, 2021. "Does hedge disclosure influence cost of capital for European banks?," International Review of Financial Analysis, Elsevier, vol. 78(C).
  33. Phan, Dinh & Nguyen, Hoa & Faff, Robert, 2014. "Uncovering the asymmetric linkage between financial derivatives and firm value — The case of oil and gas exploration and production companies," Energy Economics, Elsevier, vol. 45(C), pages 340-352.
  34. Hege, Ulrich & Hutson, Elaine & Laing, Elaine, 2021. "Mandatory governance reform and corporate risk management," Journal of Corporate Finance, Elsevier, vol. 68(C).
  35. Mine Ertugrul & Özcan Sezer & C. Sirmans, 2008. "Financial Leverage, CEO Compensation,and Corporate Hedging: Evidence from Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 36(1), pages 53-80, January.
  36. Zheng Qiao & Chongwu Xia & Lei Zhang, 2020. "Does corporate hedging affect firm valuation? Evidence from the IPO market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(6), pages 895-927, June.
  37. Jankensgård, Håkan & Moursli, Reda M., 2020. "Derivative cash flows and corporate investment," Journal of Banking & Finance, Elsevier, vol. 119(C).
  38. Francesco Corielli & Stefano Gatti & Alessandro Steffanoni, 2010. "Risk Shifting through Nonfinancial Contracts: Effects on Loan Spreads and Capital Structure of Project Finance Deals," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(7), pages 1295-1320, October.
  39. Sanghak Choi & Hyeonung Jang & Daejin Kim & Byoung Ki Seo, 2021. "Derivatives use and the value of cash holdings: Evidence from the U.S. oil and gas industry," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(3), pages 361-383, March.
  40. Chung Y. Peter & Zhou Zhong-guo, 2012. "The Pricing of Time-Varying Exchange Rate Risk in the Stock Market: A Nonparametric Approach," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(1), pages 1-33, January.
  41. Håkan Jankensgård, 2015. "Does Centralisation of FX Derivative Usage Impact Firm Value?," European Financial Management, European Financial Management Association, vol. 21(2), pages 309-332, March.
  42. Ekaterina E. Emm & Gerald D. Gay & Honglin Ren, 2019. "Corporate risk exposures, disclosure, and derivatives use: A longitudinal study," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 39(7), pages 838-864, July.
  43. Philip G. Gayle & Ying Lin, 2021. "Cost Pass‐Through In Commercial Aviation: Theory And Evidence," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 803-828, April.
  44. Franziska Wolf & Terry Boulter & Sukanto Bhattacharya, 2017. "Derivative Practices in Australian and Canadian Industries," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(04), pages 1-39, December.
  45. Zero Deng & J. Jimmy Yang, 2023. "Corporate reputation and hedging activities," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(S1), pages 1223-1247, April.
  46. Murillo Campello & Chen Lin & Yue Ma & Hong Zou, 2011. "The Real and Financial Implications of Corporate Hedging," Journal of Finance, American Finance Association, vol. 66(5), pages 1615-1647, October.
  47. Dionne, Georges & Gueyie, Jean-Pierre & Mnasri, Mohamed, 2018. "Dynamic corporate risk management: Motivations and real implications," Journal of Banking & Finance, Elsevier, vol. 95(C), pages 97-111.
  48. Cornaggia, Jess, 2013. "Does risk management matter? Evidence from the U.S. agricultural industry," Journal of Financial Economics, Elsevier, vol. 109(2), pages 419-440.
  49. Sabri Boubaker & Riadh Manita & Salma Mefteh-Wali, 2022. "Foreign currency hedging and firm productive efficiency," Annals of Operations Research, Springer, vol. 313(2), pages 833-854, June.
  50. Kang, Wensheng & Perez de Gracia, Fernando & Ratti, Ronald A., 2021. "Economic uncertainty, oil prices, hedging and U.S. stock returns of the airline industry," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
  51. Treanor, Stephen D. & Rogers, Daniel A. & Carter, David A. & Simkins, Betty J., 2014. "Exposure, hedging, and value: New evidence from the U.S. airline industry," International Review of Financial Analysis, Elsevier, vol. 34(C), pages 200-211.
  52. Cao, Min & Conlon, Thomas, 2023. "Composite jet fuel cross-hedging," Journal of Commodity Markets, Elsevier, vol. 30(C).
  53. Boubaker, Sabri & Clark, Ephraim & Mefteh-Wali, Salma, 2020. "Does the CEO elite education affect firm hedging policies?," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 340-354.
  54. Barbara Gaudenzi & Alessandro Bucciol, 2016. "Jet fuel price variations and market value: a focus on low-cost and regular airline companies," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 17(6), pages 977-991, November.
  55. Lau, Chee Kwong, 2016. "How corporate derivatives use impact firm performance?," Pacific-Basin Finance Journal, Elsevier, vol. 40(PA), pages 102-114.
  56. Sa, Constantijn A.A. & Santos, Bruno F. & Clarke, John-Paul B., 2020. "Portfolio-based airline fleet planning under stochastic demand," Omega, Elsevier, vol. 97(C).
  57. Limpaphayom, Piman & Rogers, Daniel A. & Yanase, Noriyoshi, 2019. "Bank equity ownership and corporate hedging: Evidence from Japan," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 765-783.
  58. Markus Hang & Jerome Geyer‐Klingeberg & Andreas W. Rathgeber & Stefan Stöckl, 2021. "Rather complements than substitutes: Firm value effects of capital structure and financial hedging decisions," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 4895-4917, October.
  59. Hyeyoon Jung, 2021. "Real Consequences of Shocks to Intermediaries Supplying Corporate Hedging Instruments," Staff Reports 989, Federal Reserve Bank of New York.
  60. Mnasri, Mohamed & Dionne, Georges & Gueyie, Jean-Pierre, 2013. "How do firms hedge risks? Empirical evidence from U.S. oil and gas producers," Working Papers 13-3, HEC Montreal, Canada Research Chair in Risk Management.
  61. Samunderu, E. & Perret, J.K. & Geller, G., 2023. "The economic value rationale of fuel hedging: An empirical perspective from the global airline industry," Journal of Air Transport Management, Elsevier, vol. 106(C).
  62. Laing, Elaine & Lucey, Brian M. & Lütkemeyer, Tobias, 2020. "Which form of hedging matters — Operational or financial? Evidence from the US oil and gas sector," Research in International Business and Finance, Elsevier, vol. 51(C).
  63. Söhnke M. Bartram & Gregory W. Brown & Frank R. Fehle, 2009. "International Evidence on Financial Derivatives Usage," Financial Management, Financial Management Association International, vol. 38(1), pages 185-206, March.
  64. Giorgio Stefano Bertinetti & Elisa Cavezzali & Gloria Gardenal, 2013. "The effect of the enterprise risk management implementation on the firm value of European companies," Working Papers 10, Department of Management, Università Ca' Foscari Venezia.
  65. Matthias Pelster & Annette Hofmann & Nina Klocke & Sonja Warkulat, 2023. "Dark Triad Personality Traits and Selective Hedging," Journal of Business Ethics, Springer, vol. 182(1), pages 261-286, January.
  66. Doga Bilgin & Reinhard Ellwanger, 2019. "The Simple Economics of Global Fuel Consumption," Staff Working Papers 19-35, Bank of Canada.
  67. Huang, Winifred & Mazouz, Khelifa, 2018. "Excess cash, trading continuity, and liquidity risk," Journal of Corporate Finance, Elsevier, vol. 48(C), pages 275-291.
  68. César Augusto Giraldo-Prietoa & Gabriel Jaime González Uribe & Cristhian Vesga Bermejo & Diana Carolina Ferreira Herrera, 2017. "Financial hedging with derivatives and its impact on the Colombian market value for listed companies," Contaduría y Administración, Accounting and Management, vol. 62(5), pages 19-20, Diciembre.
  69. Hoa Nguyen & Robert Faff, 2010. "Does the type of derivative instrument used by companies impact firm value?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(7), pages 681-683.
  70. Sung C. Bae & Hyeon Sook Kim & Taek Ho Kwon, 2018. "Currency derivatives for hedging: New evidence on determinants, firm risk, and performance," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 38(4), pages 446-467, April.
  71. Doukas, John A. & Mandal, Sonik, 2018. "CEO risk preferences and hedging decisions: A multiyear analysis," Journal of International Money and Finance, Elsevier, vol. 86(C), pages 131-153.
  72. Allayannis, George & Lel, Ugur & Miller, Darius P., 2012. "The use of foreign currency derivatives, corporate governance, and firm value around the world," Journal of International Economics, Elsevier, vol. 87(1), pages 65-79.
  73. 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.
  74. Ahmet Duran & Mahmut Sami Gungor, 2017. "Aviation Fuel Hedging and Firm Value Analysis using Dynamic Panel Data Methodology: Evidence from the U.S. Major Passenger Airlines," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 10(3), pages 67-72, September.
  75. Jeffrey(Jun) Chen & Yun(Yuang) Guan, 2018. "Determinants of Financial Derivative Usage: Empirical Evidence from the Perspective of Governance Structure," Review of Economics & Finance, Better Advances Press, Canada, vol. 13, pages 14-28, August.
  76. Akhigbe, Aigbe & Makar, Stephen & Wang, Li & Whyte, Ann Marie, 2018. "Interest rate derivatives use in banking: Market pricing implications of cash flow hedges," Journal of Banking & Finance, Elsevier, vol. 86(C), pages 113-126.
  77. Les Coleman, 2010. "The price gold shareholders place on market risks," Applied Financial Economics, Taylor & Francis Journals, vol. 20(10), pages 795-802.
  78. Chaudhry, Dr. Naveed Iqbal & Mehmood, Mian Saqib & Mehmood, Asif, 2014. "Determinants of corporate hedging policies and derivatives usage in risk management practices of non-financial firms," MPRA Paper 57562, University Library of Munich, Germany, revised 26 Jul 2014.
  79. Haar, Lawrence & Gregoriou, Andros, 2021. "Risk management and market conditions," International Review of Financial Analysis, Elsevier, vol. 78(C).
  80. Iatridis, George, 2012. "Hedging and earnings management in the light of IFRS implementation: Evidence from the UK stock market," The British Accounting Review, Elsevier, vol. 44(1), pages 21-35.
  81. Güntner, Jochen & Öhlinger, Peter, 2022. "Oil price shocks and the hedging benefit of airline investments," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
  82. Affaf Asghar Butt & Main Sajid Nazir & Hamera Arshad & Aamer Shahzad, 2018. "Corporate Derivatives and Ownership Concentration: Empirical Evidence of Non-Financial Firms Listed on Pakistan Stock Exchange," JRFM, MDPI, vol. 11(3), pages 1-15, June.
  83. Zhong Chen & Bo Han & Yeqin Zeng, 2017. "Financial Hedging and Firm Performance: Evidence from Cross†border Mergers and Acquisitions," European Financial Management, European Financial Management Association, vol. 23(3), pages 415-458, June.
  84. Alberto Manconi & Massimo Massa & Lei Zhang, 2018. "The Informational Role of Corporate Hedging," Management Science, INFORMS, vol. 64(8), pages 3843-3867, August.
  85. Gay, Gerald D. & Lin, Chen-Miao & Smith, Stephen D., 2011. "Corporate derivatives use and the cost of equity," Journal of Banking & Finance, Elsevier, vol. 35(6), pages 1491-1506, June.
  86. Ahmed, Shamim & Judge, Amrit & Mahmud, Syed Ehsan, 2018. "Does derivatives use reduce the cost of equity?," International Review of Financial Analysis, Elsevier, vol. 60(C), pages 1-16.
  87. Monda, Barbara & Giorgino, Marco & Modolin, Ileana, 2013. "Rationales for Corporate Risk Management - A Critical Literature Review," MPRA Paper 45420, University Library of Munich, Germany.
  88. Faccio, Mara & Morck, Randall & Deniz Yavuz, M., 2021. "Business groups and the incorporation of firm-specific shocks into stock prices," Journal of Financial Economics, Elsevier, vol. 139(3), pages 852-871.
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  90. Bahram Adrangi & Richard D. Gritta & Kambiz Raffiee, 2013. "Volatility Spillovers and Nonlinear Dynamics between Jet Fuel Prices and Air Carrier Revenue Passenger Miles in the US," Review of Economics & Finance, Better Advances Press, Canada, vol. 3, pages 01-18, August.
  91. Swidan, Hassan & Merkert, Rico, 2019. "The relative effect of operational hedging on airline operating costs," Transport Policy, Elsevier, vol. 80(C), pages 70-77.
  92. ŞENOL, Zekai & KARACA, Süleyman Serdar & ERDOĞAN, Seda, 2017. "The Effects Of Financial Risk Management On Firm’S Value: An Empirical Evidence From Borsa Istanbul Stock Exchange," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 21(4), pages 27-45.
  93. Jiaqi Jiang & Yun Feng, 2023. "Optimal hedging in the presence of internal flexibility," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4557-4571, October.
  94. Thowayeb H. Hassan & Abu Elnasr E. Sobaih & Amany E. Salem, 2021. "Factors Affecting the Rate of Fuel Consumption in Aircrafts," Sustainability, MDPI, vol. 13(14), pages 1-16, July.
  95. Chaudhry, Neeru & Gupta, Aastha, 2023. "Do derivatives benefit shareholders? Evidence from India," Finance Research Letters, Elsevier, vol. 55(PB).
  96. Biguri, Kizkitza & Brownlees, Christian & Ippolito, Filippo, 2022. "Corporate hedging and the variance of stock returns," Journal of Corporate Finance, Elsevier, vol. 72(C).
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  99. Shao, Lili & Shao, Jun & Sun, Zheng & Xu, Huaxin, 2019. "Hedging, speculation, and risk management effect of commodity futures: Evidence from firm voluntary disclosures," Pacific-Basin Finance Journal, Elsevier, vol. 57(C).
  100. Kim, Yohan & Lee, Joosung & Ahn, Jaemyung, 2019. "Innovation towards sustainable technologies: A socio-technical perspective on accelerating transition to aviation biofuel," Technological Forecasting and Social Change, Elsevier, vol. 145(C), pages 317-329.
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  103. Avanidhar Subrahmanyam, 2008. "Social Networks and Corporate Governance," European Financial Management, European Financial Management Association, vol. 14(4), pages 633-662, September.
  104. Dionne, Georges & El Hraiki, Rayane & Mnasri, Mohamed, 2022. "Determinants and real effects of joint hedging: An empirical analysis of the US petroleum industry," Working Papers 22-4, HEC Montreal, Canada Research Chair in Risk Management.
  105. Himanshu Joshi, 2018. "Corporate Risk Management, Firms’ Characteristics and Capital Structure: Evidence from Bombay Stock Exchange (BSE) Sensex Companies," Vision, , vol. 22(4), pages 395-404, December.
  106. Liu Hong & Yongjia Li & Kangzhen Xie & Claire J. Yan, 2020. "On the Market Timing of Hedging: Evidence from U.S. Oil and Gas Producers," Review of Quantitative Finance and Accounting, Springer, vol. 54(1), pages 297-334, January.
  107. Korn, Olaf & Merz, Alexander, 2016. "How to hedge if the payment date is uncertain?," CFR Working Papers 07-14 [rev.], University of Cologne, Centre for Financial Research (CFR).
  108. Adams, Zeno & Gerner, Mathias, 2012. "Cross hedging jet-fuel price exposure," Energy Economics, Elsevier, vol. 34(5), pages 1301-1309.
  109. Gamze Ozturk Danisman & Pelin Demirel, 2019. "Corporate risk management practices and firm value in an emerging market: a mixed methods approach," Risk Management, Palgrave Macmillan, vol. 21(1), pages 19-47, March.
  110. Ephraim Clark & Amrit Judge, 2009. "Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium," European Financial Management, European Financial Management Association, vol. 15(3), pages 606-642, June.
  111. Swidan, Hassan & Merkert, Rico & Kwon, Oh Kang, 2019. "Designing optimal jet fuel hedging strategies for airlines – Why hedging will not always reduce risk exposure," Transportation Research Part A: Policy and Practice, Elsevier, vol. 130(C), pages 20-36.
  112. Hege, Ulrich & Hutson, Elaine & Laing, Elaine, 2018. "The impact of mandatory governance changes on financial risk management," TSE Working Papers 18-889, Toulouse School of Economics (TSE).
  113. Carter, David A. & Rogers, Daniel A. & Simkins, Betty J. & Treanor, Stephen D., 2017. "A review of the literature on commodity risk management," Journal of Commodity Markets, Elsevier, vol. 8(C), pages 1-17.
  114. Zhen-Jia-Liu, 2021. "Effect Of Fuel Price Volatility On Real Activities Earnings Management In Airlines Related To Fuel Price Hedging," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 18(1), pages 33-53.
  115. Han, Xu & Laing, Elaine & Lucey, Brian M. & Vigne, Samuel, 2023. "Corporate commodity exposure: A multi-country longitudinal study," Journal of Commodity Markets, Elsevier, vol. 30(C).
  116. Panos Markou & Daniel Corsten, 2021. "Financial and Operational Risk Management: Inventory Effects in the Gold Mining Industry," Production and Operations Management, Production and Operations Management Society, vol. 30(12), pages 4635-4655, December.
  117. Lee, Seoki & Seo, Kwanglim & Sharma, Amit, 2013. "Corporate social responsibility and firm performance in the airline industry: The moderating role of oil prices," Tourism Management, Elsevier, vol. 38(C), pages 20-30.
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  119. George E. Halkos & Apostolos S. Tsirivis, 2019. "Energy Commodities: A Review of Optimal Hedging Strategies," Energies, MDPI, vol. 12(20), pages 1-19, October.
  120. Tharindra Ranasinghe & Konduru Sivaramakrishnan & Lin Yi, 2022. "Hedging, hedge accounting, and earnings predictability," Review of Accounting Studies, Springer, vol. 27(1), pages 35-75, March.
  121. Chen, Jun & King, Tao-Hsien Dolly, 2014. "Corporate hedging and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 221-245.
  122. Gunratan Lonare & Ahmet Nart & Ahmet M. Tuncez, 2022. "Industry tournament incentives and corporate hedging policies," Financial Management, Financial Management Association International, vol. 51(2), pages 399-453, June.
  123. Rampini, Adriano A. & Sufi, Amir & Viswanathan, S., 2014. "Dynamic risk management," Journal of Financial Economics, Elsevier, vol. 111(2), pages 271-296.
  124. Saud Althaqeb, 2017. "Survey of Energy Finance on the Corporate World," International Journal of Energy Economics and Policy, Econjournals, vol. 7(6), pages 153-158.
  125. Dionne, Georges & Mnasri, Mohamed, 2018. "Real implications of corporate risk management: Evidence from U.S. oil producers," Working Papers 18-5, HEC Montreal, Canada Research Chair in Risk Management.
  126. Eckles, David L. & Hoyt, Robert E. & Miller, Steve M., 2014. "Reprint of: The impact of enterprise risk management on the marginal cost of reducing risk: Evidence from the insurance industry," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 409-423.
  127. Chongwu Xia & Chuyi Yang & Lei Zhang, 2021. "The real effect of foreign exchange hedging on corporate innovation," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 41(12), pages 2046-2078, December.
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