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    Does ownership structure matter in explaining derivatives’ use policy in French listed firms

    Access Status
    Fulltext not available
    Authors
    Boubaker, S.
    Salma, M.
    Shaikh, Junaid
    Date
    2010
    Type
    Journal Article
    
    Metadata
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    Citation
    Boubaker,S. and Salma, M. and Shaikh, J. 2010. Does ownership structure matter in explaining derivatives’ use policy in French listed firms. International Journal of Managerial and Financial Accounting. 2 (2): pp. 196-212.
    Source Title
    International Journal of Managerial and Financial Accounting .
    DOI
    10.1504/IJMFA.2010.033291
    ISSN
    1753-6715
    School
    Curtin Sarawak
    URI
    http://hdl.handle.net/20.500.11937/14828
    Collection
    • Curtin Research Publications
    Abstract

    The purpose of this study is to investigate the effect of ownership structure on derivatives' use policy. Using data for 262 French non-financial listed firms, the results show that the two decisions of whether to use derivatives or not and the extent of derivatives use are not affected by the same variables. CEO ownership has a negative effect on the decision to use derivatives, whereas CEO tenure length influences negatively the extent of derivative use. CEO age impacts positively both decisions, whereas firms that grant stock options to their CEOs do not rely too much on derivatives. However, the presence of outside blockholders seems not to affect the firms' hedging policy.

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