Why hedge? Extent, nature, and determinants of derivative usage in U.S. municipalities

• المؤلفون الرئيسيون: Khumawala, Saleha, RANASINGHE, Tharindra, YAN, Claire J.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2016
• الموضوعات: Accounting; Portfolio and Security Analysis
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soa_research/1460; https://ink.library.smu.edu.sg/context/soa_research/article/2459/viewcontent/why_hedge.pdf
• المؤسسة: Singapore Management University

Using a hand-collected dataset of over 300 observations of large U.S. cities and counties, this paper investigates the extent, nature and determinants of derivatives usage in the municipal sector. Over half of our sample entities engage in derivative transactions and a vast majority of these transac...