지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
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This study attempts to analyze the effect of the financial hedging on the value of the corporation, which are non-banking KSE-listed companies and have been export sales during 5 years. This research deals with the panel data for five years of the 315 exporting companies. The research methodology is to use the Fixed Effect Model of the Panel Study with the Hausman Test as well as the Panel Logit Regression Model. The dependent variable is a Tobin's Q measuring the corporate value. According to the empirical result, the financial hedging is negatively related with the value of the exporting companies. This research also finds that the more companies export, the more incentives the companies have through using the financial hedging. This phenomena can be explained by the fact that the worldwide financial risk and economic depression since 2008 decrease the exporter's usage of the financial hedging.
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참고문헌 (32)
참고문헌 신청
/ / 금융감독원 전자공시시스템
/ / 한국거래소
Allayannis G / 2001 / Exchange-Rate Hedging : Financial versus Operational Strategies / The American Economic Review 91 (2)
Allayannis George / 2001 / The Use of Foreign Currency Derivatives and Firm Market Value / Review of Financial Studies 14 (1)
Bartram, M. S / 2009 / International Evidence on Financial Derivatives Usage / Financial management 38
/ / 한국거래소
Allayannis G / 2001 / Exchange-Rate Hedging : Financial versus Operational Strategies / The American Economic Review 91 (2)
Allayannis George / 2001 / The Use of Foreign Currency Derivatives and Firm Market Value / Review of Financial Studies 14 (1)
Bartram, M. S / 2009 / International Evidence on Financial Derivatives Usage / Financial management 38
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