Why Uk non-financial firms hedge fx risk
Abstract This paper aims to investigate the determinants of hedging by UK non-financial firms. It uses disclosures from annual reports of 221 UK firms and data from the database ‘data stream’. The data collected from the annual reports span over four years (2016-2019) and the key word approach is...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2021
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| Online Access: | https://eprints.nottingham.ac.uk/66319/ |
| _version_ | 1848800315730558976 |
|---|---|
| author | Adenuga, Prince |
| author_facet | Adenuga, Prince |
| author_sort | Adenuga, Prince |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | Abstract
This paper aims to investigate the determinants of hedging by UK non-financial firms. It uses disclosures from annual reports of 221 UK firms and data from the database ‘data stream’. The data collected from the annual reports span over four years (2016-2019) and the key word approach is used to find relevant information pertaining to the hedging activities of firms. The logit regressions show that larger firms and those that are exposed to FX risk are more likely to hedge FX risk. This thesis goes on further to demonstrate the bias that exists when FX debt hedgers are included in the non-hedger sample. It is found that its inclusion can prevent the discovery of links between important firm specific factors and the decision to hedge. |
| first_indexed | 2025-11-14T20:49:37Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-66319 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:49:37Z |
| publishDate | 2021 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-663192023-04-19T15:18:10Z https://eprints.nottingham.ac.uk/66319/ Why Uk non-financial firms hedge fx risk Adenuga, Prince Abstract This paper aims to investigate the determinants of hedging by UK non-financial firms. It uses disclosures from annual reports of 221 UK firms and data from the database ‘data stream’. The data collected from the annual reports span over four years (2016-2019) and the key word approach is used to find relevant information pertaining to the hedging activities of firms. The logit regressions show that larger firms and those that are exposed to FX risk are more likely to hedge FX risk. This thesis goes on further to demonstrate the bias that exists when FX debt hedgers are included in the non-hedger sample. It is found that its inclusion can prevent the discovery of links between important firm specific factors and the decision to hedge. 2021-12-01 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/66319/1/Why%20UK%20firms%20hedge%20fx%20risk%20.pdf Adenuga, Prince (2021) Why Uk non-financial firms hedge fx risk. [Dissertation (University of Nottingham only)] |
| spellingShingle | Adenuga, Prince Why Uk non-financial firms hedge fx risk |
| title | Why Uk non-financial firms hedge fx risk |
| title_full | Why Uk non-financial firms hedge fx risk |
| title_fullStr | Why Uk non-financial firms hedge fx risk |
| title_full_unstemmed | Why Uk non-financial firms hedge fx risk |
| title_short | Why Uk non-financial firms hedge fx risk |
| title_sort | why uk non-financial firms hedge fx risk |
| url | https://eprints.nottingham.ac.uk/66319/ |