期刊
FINANCE RESEARCH LETTERS
卷 47, 期 -, 页码 -出版社
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.frl.2021.102580
关键词
Dual class; Risk management; Foreign exchange hedging
This study highlights the risk management activities of dual class firms, specifically focusing on their use of foreign exchange derivatives. Compared to single class firms, dual class firms engage in lower levels of FX hedging activities due to their long-term orientation and insulation from short-term market pressures. Additionally, the research finds that these firms are more reluctant to use futures contracts for FX hedging, preferring opacity and hesitating to divert resources from their long-term goals.
We highlight the risk management activities of dual class firms by focusing on their use of foreign exchange (FX) derivatives. As opposed to single class firms, dual class firms engage in lower levels of FX hedging activities which may be driven by their long-term orientation and insulation from short-term market pressures. Furthermore, we document that these firms have a stronger reluctance to using futures contracts for FX hedging due to their preference for opacity and hesitancy to divert resources away from their long-term goals. Overall, we underscore the influence of a firm's share structure on its FX hedging decisions.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据