Capital expenditures, corporate hedging and firm value
(2021)
Journal Article
Ullah, S., Irfan, M., Kim, J. R., & Ullah, F. (2022). Capital expenditures, corporate hedging and firm value. Quarterly Review of Economics and Finance, 87, 360-366. https://doi.org/10.1016/j.qref.2021.06.008
Despite the well-documented mixed results of hedging on firm value, empirical evidence of why hedging reduces firm value is rare. Theory suggests that hedging can increase firm value by reducing bankruptcy cost and volatility, although it can also de... Read More about Capital expenditures, corporate hedging and firm value.