The Association between SFAS No. 119 derivatives disclosures and the foreign exchange risk exposure of manufacturing firms

被引：62

作者：

Wong, MHF ^{[1
]}

机构：

[1] Univ Calif Berkeley, Berkeley, CA 94720 USA

来源：

JOURNAL OF ACCOUNTING RESEARCH | 2000年 / 38卷 / 02期

关键词：

D O I：

10.2307/2672939

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

[No abstract available]

引用

页码：387 / 417

页数：31

共 8 条

[1] Exchange Rate Exposure and Usage of Foreign Currency Derivatives by Indian Nonfinancial Firms
Prasad, Krishna
Suprabha, K. R.
[J]. IMPACT OF GLOBALIZATION ON INTERNATIONAL FINANCE AND ACCOUNTING, 2018, : 71 - 80
[2] The Impact of Excluding Nonfinancial Exposure on the Usefulness of Foreign Exchange Sensitivity-Analysis Risk Disclosures
Sribunnak, Visarut
Wong, M.
[J]. JOURNAL OF ACCOUNTING AUDITING AND FINANCE, 2006, 21 (01): : 1 - 25
[3] Managing foreign exchange risk with derivatives in UK non-financial firms
Zhou, Victoria Yun
Wang, Peijie
[J]. INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 2013, 29 : 294 - 302
[4] The Association between SFAS No. 157 Fair Value Hierarchy Information and Conditional Accounting Conservatism (vol 93, pg 119, 2018)
Black, Johnathan
Chen, Jeff Zeyun
Cussatt, Marc
[J]. ACCOUNTING REVIEW, 2019, 94 (01): : 361 - 361
[5] Integrated foreign exchange risk management: The role of import in medium-sized manufacturing firms
Aabo, Tom
Hog, Esben
Kuhn, Jochen
[J]. JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT, 2010, 20 (4-5) : 235 - 250
[6] Macroeconomic News and Risk Exposure to Foreign Exchange Rate Evidence from Chinese Listed Firms
Li, Dongxu
Liu, Erzhuo
Li, Yunwei
[J]. EMERGING MARKETS FINANCE AND TRADE, 2022, 58 (10) : 2783 - 2802
[7] Corporate derivatives and foreign exchange risk management A case study of non-financial firms of Pakistan
Afza, Talat
Alam, Atia
[J]. JOURNAL OF RISK FINANCE, 2011, 12 (05) : 409 - +
[8] To examine the role of climate risk exposure in corporate capital structure decisions, we use a large sample of firms across 35 countries from 2001 to 2021 and show a significantly positive association between firms' climate risk exposure and speed of leverage adjustment based on a two-step partial leverage adjustment model. A one- standard-deviation increase in climate risk exposure increases firms' SOA by 5.59%. A plausible explanation is that climate risk exposure mitigates agency conflicts and improves information efficiency. The positive rela- tionship is stronger in firms from countries with better climate governance, lower bank financing support, and higher policy quality. Overall, our study demonstrates the critical role of climate risk in capital structure de- cisions in the global context.
Zhou, Zihan
Wu, Kai
[J]. JOURNAL OF CLEANER PRODUCTION, 2023, 389

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