Download Free Derivatives Usage In Risk Management By Us And German Non Financial Firms Book in PDF and EPUB Free Download. You can read online Derivatives Usage In Risk Management By Us And German Non Financial Firms and write the review.

This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non-financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies, but a comparative study, drawing a comparable subsample of firms from the US study to match the sample of German firms on both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of usage across industry and size groupings is comparable across the two countries. In both countries, foreign currency derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. In contrast to the similarities, firms in the two countries differ notably on issues such as the primary goal of hedging, their choice of instruments, and the influence of their market view when taking derivative positions. These differences appear to be driven by the greater importance of financial accounting statements in Germany than the US and stricter German corporate policies of control over derivative activities within the firm.
This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non- financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies, but a comparative study, drawing a comparable subsample of firms from the US study to match the sample of German firms on both size and industry composition.
This paper presents evidence on derivatives usage by Brazilian non-financial firms, using a sample of 74 companies. The proportion of firms using derivatives in Brazil is comparable to that of other countries already researched. There are economies of scale for derivatives usage, and managers use derivatives for risk management purposes rather than speculation. Derivatives usage across risk classes in Brazil follows patterns observed internationally: companies use derivatives primarily to manage foreign exchange risk, followed by interest rates and commodities exposures. The main concerns of Brazilian managers are linked to taxation and accounting issues rather than to financial and economic aspects.
Der schlechte Ruf der Derivative gründet sich auf Mißbrauch und das hohe Risiko, das mit diesem oft exotisch wirkenden Finanzinstrument verbunden ist. Sie wollen sich unvoreingenommen, besser informieren? Anhand signifikanter Fallstudien führt dieses Buch Sie unter anderem in Techniken des Risikomanagement und Kontrollstrukturen ein.