A carregar...
Publicação
Steel futures and company characteristics: which companies use steel futures?
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 775.39 KB | Adobe PDF | |||
| 1.15 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
My thesis examines the link between firm characteristics and the usage of steel futures working
with annual data from 1,536 steel-related companies’ between 2003 and 2015. I use fixed
effects regression with binary response to estimate a firm’s likelihood of using steel futures.
The chance of using steel futures for firms with a high degree of steel exposure relative to less
steel exposed ones, is significantly positively affected by firm size, leverage, debt structure,
return on assets and investment grade.
Descrição
Palavras-chave
Risk management Steel exposure Steel futures Company characteristics