We consider the hedging problem where a futures position can be automatically liquidated by theexchange without notice …. We derive a semi-closed form for an optimal hedging strategy with dualobjectives -- to minimise both the variance of the … direct and inverse hedging instruments traded on five different exchanges, based on minute-level data. We also link this …

and the double hedging theorems are derived. The behavior of the same firm with and without complete markets is compared …

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry … face costly external finance increase hedging after staggered state-level financial reform that reduces the costs of … hedging. Post reform impacted firms have lower risk and fewer negative income shocks. Product market competition is also …

derivatives for hedging activities. Based on a sample of 300 Malaysian listed companies, we found that only 162 companies (54 …