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Effective derivative hedging and initial public offering long-run performance

Nguyen,H and Liu,M-H 2014, Effective derivative hedging and initial public offering long-run performance, Accounting and Finance, vol. 54, no. 4, pp. 1263-1294, doi: 10.1111/acfi.12036.

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Title Effective derivative hedging and initial public offering long-run performance
Author(s) Nguyen,H
Liu,M-H
Journal name Accounting and Finance
Volume number 54
Issue number 4
Start page 1263
End page 1294
Total pages 32
Publisher Wiley-Blackwell
Place of publication Richmond, Vic
Publication date 2014-12-01
ISSN 0810-5391
1467-629X
Keyword(s) Australian resources firms
Financial derivatives
Initial public offering
Long-run performance
Summary 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.
Language eng
DOI 10.1111/acfi.12036
Field of Research 140207 Financial Economics
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2014, Wiley-Blackwell
Persistent URL http://hdl.handle.net/10536/DRO/DU:30069009

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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