Does the type of derivative instrument used by companies impact firm value?
Nguyen, Hoa and Faff, Robert 2010, Does the type of derivative instrument used by companies impact firm value?, Applied economics letters, vol. 17, no. 7, pp. 681-683.
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Title
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.
Notes
This article has now been published in Applied Economic Letter, volume 17 issue 7, May 2010 pages 681-683.