1 Currency Hedging and Corporate Governance : A Cross-country Analysis

@inproceedings{Lel20061CH,
  title={1 Currency Hedging and Corporate Governance : A Cross-country Analysis},
  author={Ugur Lel},
  year={2006}
}
  • Ugur Lel
  • Published 2006
Corporate governance can provide mechanisms to effectively monitor the use of derivatives. Using a sample of firms from 34 countries over the period 1990 to 1999, I find that firms with strong governance use currency derivatives for value-maximizing reasons as established by theory. On the other hand, firms with weak governance use such derivatives mostly… CONTINUE READING