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    Rights statement: This is a pre-print of an article published in Contemporary Accounting Research, 30 (1), 2013. (c) Wiley.

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Corporate risk management and hedge accounting

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Corporate risk management and hedge accounting. / Panaretou, A.; Shackleton, M. B.; Taylor, P. A.

In: Contemporary Accounting Research, Vol. 30, No. 1, 03.2013, p. 116-139.

Research output: Contribution to journalJournal article

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Panaretou, A. ; Shackleton, M. B. ; Taylor, P. A. / Corporate risk management and hedge accounting. In: Contemporary Accounting Research. 2013 ; Vol. 30, No. 1. pp. 116-139.

Bibtex

@article{99ed81e8ecfb4cee85954173b99147f5,
title = "Corporate risk management and hedge accounting",
abstract = "Motivated by the debate about the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS), this study investigates the effect of hedge accounting under IFRS on corporate risk management. Using a sample of large UK non-financial firms from 2003 to 2008, we show that the implementation of the new standards reduces the level of asymmetric information faced by derivative users. Specifically, for firms that hedge under IFRS we find that analysts{\textquoteright} forecast error and dispersion are significantly lower. The paper contributes to prior research on the effects of hedge accounting and on the adoption of IFRS.",
keywords = "derivatives, hedging , asymmetric information , hedge accounting",
author = "A. Panaretou and Shackleton, {M. B.} and Taylor, {P. A.}",
note = "This is a pre-print of an article published in Contemporary Accounting Research, 30 (1), 2013. (c) Wiley.",
year = "2013",
month = mar
doi = "10.1111/j.1911-3846.2011.01143.x",
language = "English",
volume = "30",
pages = "116--139",
journal = "Contemporary Accounting Research",
issn = "0823-9150",
publisher = "Wiley-Blackwell",
number = "1",

}

RIS

TY - JOUR

T1 - Corporate risk management and hedge accounting

AU - Panaretou, A.

AU - Shackleton, M. B.

AU - Taylor, P. A.

N1 - This is a pre-print of an article published in Contemporary Accounting Research, 30 (1), 2013. (c) Wiley.

PY - 2013/3

Y1 - 2013/3

N2 - Motivated by the debate about the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS), this study investigates the effect of hedge accounting under IFRS on corporate risk management. Using a sample of large UK non-financial firms from 2003 to 2008, we show that the implementation of the new standards reduces the level of asymmetric information faced by derivative users. Specifically, for firms that hedge under IFRS we find that analysts’ forecast error and dispersion are significantly lower. The paper contributes to prior research on the effects of hedge accounting and on the adoption of IFRS.

AB - Motivated by the debate about the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS), this study investigates the effect of hedge accounting under IFRS on corporate risk management. Using a sample of large UK non-financial firms from 2003 to 2008, we show that the implementation of the new standards reduces the level of asymmetric information faced by derivative users. Specifically, for firms that hedge under IFRS we find that analysts’ forecast error and dispersion are significantly lower. The paper contributes to prior research on the effects of hedge accounting and on the adoption of IFRS.

KW - derivatives

KW - hedging

KW - asymmetric information

KW - hedge accounting

U2 - 10.1111/j.1911-3846.2011.01143.x

DO - 10.1111/j.1911-3846.2011.01143.x

M3 - Journal article

VL - 30

SP - 116

EP - 139

JO - Contemporary Accounting Research

JF - Contemporary Accounting Research

SN - 0823-9150

IS - 1

ER -