Effective derivative hedging and initial public offering long-run performance
Nguyen,Hoa1; Liu,Ming Hua2
2014-12-01
Source PublicationAccounting and Finance
ABS Journal Level2
ISSN1467629X 08105391
Volume54Issue:4Pages:1263-1294
Abstract

We investigate the role of corporate currency risk management through the use of financial derivatives in influencing the long-run performance of a sample of Australian resources companies. We find that derivative users generally outperformed nonderivative users in the 5-year period following listing. Effective derivative users consistently outperformed the nonhedgers. Furthermore, within the population of derivative users, effective derivative users tended to perform better than ineffective hedgers. Our results indicate that effective financial risk management plays a role in long-run IPO performance.

KeywordAustralian Resources Firms Financial Derivatives Initial Public Offering Long-run Performance
DOI10.1111/acfi.12036
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectBusiness, Finance
WOS IDWOS:000346490100009
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Cited Times [WOS]:2   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Affiliation1.School of Accounting, Economics and Finance, Deakin University,,Burwood,Australia
2.Faculty of Business Administration, University of Macau,,Macao
Recommended Citation
GB/T 7714
Nguyen,Hoa,Liu,Ming Hua. Effective derivative hedging and initial public offering long-run performance[J]. Accounting and Finance,2014,54(4):1263-1294.
APA Nguyen,Hoa,&Liu,Ming Hua.(2014).Effective derivative hedging and initial public offering long-run performance.Accounting and Finance,54(4),1263-1294.
MLA Nguyen,Hoa,et al."Effective derivative hedging and initial public offering long-run performance".Accounting and Finance 54.4(2014):1263-1294.
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