Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

    We have a manual that explains all the features 

Record number 327789
Title The Motivation for Hedging Revisited
Author(s) Pennings, J.M.E.; Leuthold, R.M.
Source Journal of Futures Markets 20 (2000)9. - ISSN 0270-7314 - p. 865 - 885.
Department(s) Marketing and Consumer Behaviour
Publication type Refereed Article in a scientific journal
Publication year 2000
Keyword(s) futures markets - developing-country - shareholder value - channel - power - prices - uncertainty - dependence - conflict - firm
Abstract This article develops an alternative view on the motivation to hedge. A conceptual model shows how hedging facilitates contract relationships between firms and can solve conflicts between firms. In this model, the contract preferences, level of power, and conflicts in contractual relationships of firms are driving the usage of futures contracts. The model shows how using futures markets can provide a jointly preferred contracting arrangement, enhancing relationships between firms. The robust nature of the conceptual model is empirically examined through a computer-guided study of various firms. (C) 2000 John Wiley & Sons, Inc.
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