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- Title
Working Capital Management, the Credit Crisis, and Hedging Strategies: Canadian Evidence.
- Authors
Kieschnick, Robert; Rotenberg, Wendy
- Abstract
This study uses a sample of Canadian natural resource firms during the global financial crisis ( GFC) of 2007-2008 to examine the influence of firm hedging strategies on their working capital management. Our evidence implies that increased cash holdings and derivatives are alternative ways of hedging risk, and also provides another perspective on the U.S. 'trapped cash' controversy as our sample firms are not R&D intensive and do not face the same tax regime as U.S. multinationals.
- Subjects
CAPITAL budget; CAPITAL shortages; MARGINAL efficiency of investment; CAPITAL investments; MANAGEMENT turnover
- Publication
Journal of International Financial Management & Accounting, 2016, Vol 27, Issue 2, p208
- ISSN
0954-1314
- Publication type
Article
- DOI
10.1111/jifm.12049