.png){kind=icon}
返回
Hedging with regret
.png){kind=icon}
PRE
AI
DOI：10.1016/j.jbef.2019.03.002.png)
.png){kind=icon}
原文求助.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
This paper investigates corporate hedging under regret aversion. Regret-averse firms try to avoid deviations of their hedging policy from the ex post best policy. The study presents a model of a firm that faces uncertain prices and seeks to hedge both profit risk and regret risk with derivatives. It characterizes optimal hedge positions and shows that regret aversion leads to stronger incentives to hedge downside price risk than standard expected utility theory. Regret aversion has a strong effect on the choice of the hedging instrument and provides a preference-based explanation for the use of options in corporate risk management. (C) 2019 Elsevier B.V. All rights reserved.
Keyword:
Regret aversion
Risk management
Hedging
Derivatives
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
4.7
论文数:
719
被引数:
3.3K
机构
引用论文
Evaluation of Fruit and Vegetable Consumption Estimated from the NCI 7-Item Screener基于NCI 7项筛查问卷的水果和蔬菜消费量评估
PREAI
分享收藏doublecortin, a Brain-Specific Gene Mutated in Human X-Linked Lissencephaly and Double Cortex Syndrome, Encodes a Putative Signaling Protein.png)
Cell
OAAI
CellIF0
OAAI分享收藏
查看更多内容