@article{GKWP2017,
title = {How does hedge accounting influence firm value?},
author = {Gerrit Köchling and Peter N Posch},
url = {https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3128333},
year = {2017},
date = {2017-01-01},
abstract = {We study the relation between hedge accounting and firm value. We propose an easily replicable procedure to generate a dataset directly from company’s annual reports. Using our algorithm we are able to classify, for the first time, firms into cash flow, fair value, or foreign net investment hedge accounting. Our approach allows us to give an overview of hedge accounting use over industries and time. We find significantly positive effects of fair value and foreign net investment hedges on firm value. However cash flow hedge accounting, which makes up the majority of observations, appears to have no substantial influence.},
keywords = {hedge accounting},
pubstate = {published},
tppubtype = {article}
}