Does the Use of Foreign Currency Derivatives Affect Colombian Firms’ Market Value?

Citation data:

Banco de la Republica de Colombia, Borradores de Economia, No: 562

Publication Year:
2009
Usage 421
Abstract Views 338
Downloads 83
Citations 2
Citation Indexes 2
Repository URL:
http://repositorio.banrep.gov.co/handle/20.500.12134/5579
RePec URLs:
https://ideas.repec.org/p/bdr/borrec/562.html
Author(s):
Gómez-González, José Eduardo; León-Rincón, Carlos Eduardo; Leiton-Rodríguez, Karen Juliet
Publisher(s):
Banco de la República
Tags:
G30 - Corporate Finance and Governance: General; G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill; Modigliani-Miller; Risk management; Hedging; Firm value; Emerging market; Tobin's Q; Riesgo cambiario -- Colombia; Riesgo (Economía) -- Colombia; Mercados emergentes -- Colombia; Teoría económica; G32 - Política de financiación; riesgo financiero y gestión de riesgos; Estructura del capital y de la propiedad; Valor de empresa; fondo de comercio; G30 - Gobierno y financiación de la empresa: Generalidades; Modigliani-Miller, risk management, hedging, firm value, emerging market, Tobin´s Q.
paper description
Classic financial theory relies on the absolute perfection of capital markets, which results in one of the milestones of theoretical corporate finance: the firm's value is invariant to the choice of capital structure. As an extension to the aforementioned