EFFECT OF USING DERIVATIVES ON RISK MANAGEMENT, FINANCIAL PERFORMANCE AND FIRM VALUE

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dc.contributor.authorAydın, Esra
dc.contributor.authorTanrıoven, Cıhan
dc.date.accessioned2025-03-20T09:41:34Z
dc.date.available2025-03-20T09:41:34Z
dc.date.issued2024
dc.departmentİzmir Bakırçay Üniversitesi
dc.description.abstractThis study investigates the impact of derivatives on risk management, financial performance, and firm value in non-financial firms from 2016-2021, spanning pre-pandemic and pandemic periods. It first examines firms' derivatives usage intensity through annual reports, then assesses the direct effects using panel data analysis. According to derivatives usage intensity observations, it is seen that the approach of firms to use derivatives hasn't changed based on the pandemic. Approximately %30 of firms stated that they use derivatives in risk management while other firms stated they use in-house methods in risk management. Moreover, according to the results of the panel data analysis, this study, which is based on limited data and examines the impact of the pandemic period, finds that the use of derivative instruments increases risk and negatively affects financial performance. On the other hand, any relationship between derivatives usage and firm value hasn't been found to be statistically significant. These results suggest that derivatives are not an effective risk management tool for the sector, prompting firms to reconsider their risk management strategies and explore why derivatives fail to mitigate risk effectively.
dc.identifier.doi10.17130/ijmeb.1366745
dc.identifier.endpage107
dc.identifier.issn2147-9208
dc.identifier.issn2147-9194
dc.identifier.issue1
dc.identifier.startpage86
dc.identifier.trdizinid1229832
dc.identifier.urihttps://doi.org/10.17130/ijmeb.1366745
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1229832
dc.identifier.urihttps://hdl.handle.net/20.500.14034/1997
dc.identifier.volume20
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.relation.ispartofUluslararası Yönetim İktisat ve İşletme Dergisi
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_TR_20250319
dc.subjectRisk Management
dc.subjectFinancial Performance
dc.subjectDerivatives
dc.subjectFirm Value
dc.titleEFFECT OF USING DERIVATIVES ON RISK MANAGEMENT, FINANCIAL PERFORMANCE AND FIRM VALUE
dc.typeArticle

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