2017
DOI: 10.15611/aoe.2017.1.08
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Impact of derivative usage on firm’s risk and value: a comparative analysis of Pakistan and Malaysia

Abstract: This study empirically examines the effect of derivative usage on firm's risk and value by employing sample data of Pakistani and Malaysian listed companies for the period of 2004-2010. Supporting the risk management use of derivative instruments, the study finds that the usage of derivative instruments significantly minimizes firm's risk, with respect to operating cash flow variability in both Pakistan and Malaysia, although the extent of risk reduction is higher in Malaysian firms. While considering variabil… Show more

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