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Derivatives usage : value-adding or value destroying?

by Naito, Jack

Abstract

This thesis analyses a sample of 434 non-financial firms from the Standard and Poor 500 to investigate the relationship between derivative usage and firm value. The empirical tests do not produce any statistically significant results that suggest a negative relationship between the fair value of derivative instruments and firm value. These results, although not a part of a the original purpose of this thesis, suggest that investors value predictable non-extreme outcomes of risk exposures regardless of the firm's position in its derivative contracts hedging the same exposures.

Note

bachelor

Bachelor of Arts

Includes bibliographical references.

Administrative Notes

None

Copyright
Copyright restrictions apply.
Publisher
Colorado College
PID
coccc:3410
Digital Origin
born digital
Extent
90 pages : illustrations
Thesis
Senior Thesis -- Colorado College
Thesis Advisor
Laux, Judy
Department/Program
Department of Economics and Business
Degree Name
bachelor
Degree Type
Bachelor of Arts
Degree Grantor
Colorado College
Date Issued
2011