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Hedging-Verhalten deutscher Unternehmen

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Springer Nature
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9783824476879
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Auf dem Forschungsgebiet der finanzwirtschaftlichen Bewertung einzelner derivater Instrumente wurden in den vergangenen 25 Jahren erhebliche Fortschritte erzielt, die schnell von der Praxis adaptiert wurden. Auch gab es in letzter Zeit groe Erkenntnisgewinne auf dem Gebiet des Risikomanagements von Banken. ber die konomischen Bestimmungsfaktoren des Einsatzes von Whrungsderivaten bei Handels-, Dienstleistungs- und Industrieunternehmen - vor allem ber die Hedging-Motive - ist dagegen relativ wenig bekannt. Oliver Ru untersucht, inwieweit die theoretischen Erklrungsanstze des Risikomanagements die unterschiedliche Praxis deutscher Unternehmen erklren knnen. Ausgehend von der Hedging-Theorie werden Unternehmenscharakteristika identifiziert, die mit hoher Wahrscheinlichkeit einen Derivateeinsatz erwarten lassen, und Hypothesen ber die Einflussrichtung postuliert. Im Rahmen von multivariaten Logit-Analysen erfolgt die berprfung der Hypothesen.

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