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2007-01-01Zeitschriftenartikel DOI: 10.1111/j.1540-6261.2007.01280.x
Financial Constraints, Competition, andHedging in Industry Equilibrium
dc.contributor.authorAdam, Tim
dc.contributor.authorDasgupta, Sudipto
dc.contributor.authorTitman, Sheridan
dc.date.accessioned2017-06-17T01:10:05Z
dc.date.available2017-06-17T01:10:05Z
dc.date.created2009-07-23
dc.date.issued2007-01-01
dc.identifier.urihttp://edoc.hu-berlin.de/18452/10114
dc.description.abstractWe analyze the hedging decisions of firms, within an equilibrium setting that allows us to examine how a firm’s hedging choice depends on the hedging choices of its competitors. Within this equilibrium some firms hedge while others do not, even though all firms are ex ante identical. The fraction of firms that hedge depends on industry characteristics, such as the number of firms in the industry, the elasticity of demand, and the convexity of production costs. Consistent with prior empirical findings, the model predicts that there is more heterogeneity in the decision to hedge in the most competitive industries.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.subjectFinancial Constraints Competitioneng
dc.subjectHedgingeng
dc.subjectIndustry Equilibriumeng
dc.subject.ddc330 Wirtschaft
dc.titleFinancial Constraints, Competition, andHedging in Industry Equilibrium
dc.typearticle
dc.identifier.urnurn:nbn:de:kobv:11-10099727
dc.identifier.doi10.1111/j.1540-6261.2007.01280.x
dc.identifier.doihttp://dx.doi.org/10.18452/9462
local.edoc.container-titleJournal of Finance
local.edoc.type-nameZeitschriftenartikel
local.edoc.institutionWirtschaftswissenschaftliche Fakultät
local.edoc.container-typeperiodical
local.edoc.container-type-nameZeitschrift
local.edoc.container-urlhttp://www.afajof.org/
local.edoc.container-volume62
local.edoc.container-issue5
local.edoc.container-year2007
local.edoc.container-firstpage2445
local.edoc.container-lastpage2473
dc.description.versionPeer Reviewed

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