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1 BIBLIOGRAPHY Alkebäck, P. and N. Hagelin, 1999, Derivatives Usage by Non-financial Firms in Sweden with an International Comparison, Journal of International Financial Management and Accounting, Vol. 10, pp Alkebäck, P., N. Hagelin, and B. Pramborg, 2006, Derivatives Usage by Nonfinancial Firms in Sweden 1996 and 2003: What has Changed?, Managerial Finance, forthcoming. Allayannis, G. and E. Ofek, 2001, Exchange Rate Exposure, Hedging, and the Use of Foreign Currency Derivatives, Journal of International Money and Finance, Vol. 20, pp Allayannis, G. and A. Mozumdar, 2000, Cash Flow, Investment, and Hedging, Working Paper, University of Virginia. Allen, F., and A.M. Santomero, 1998, The Theory of Financial Intermediation, Journal of Banking and Finance, Vol. 21, pp Altman, E.L., 1968, Financial Ratios, Discriminant Analysis, and the Prediction of Corporate Bankruptcy, Journal of Finance, Vol. 23, pp Arrow, K.J., 1964, The Role of Securities in the Optimal Allocation of Risk- Bearing, Reprinted in: Essays in the Theory of Risk Bearing, Markham Publishing Co., Baillie, R.T., and T. Bollerslev, 2000, The Forward Premium Anomaly Is Not as Bad as You Think, Journal of International Money and Finance, Vol. 19, pp

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5 Franke, G., R.C. Stapleton, and M.G. Subrahmanyam, 1998, Who Buys and Who Sells Options: The Role and Pricing of Options in an Economy with Background Risk, Journal of Economic Theory, Vol. 82, pp Friend, I., and M. Blume, 1975, The Demand for Risky Assets, American Economic Review, Vol. 5, pp Froot, K.A., D.S. Scharfstein, and J.C. Stein, 1993, Risk Management: Coordinating Corporate Investment and Financing Policies, Journal of Finance, Vol. 48, pp Gay, G.D., and J. Nam, 1998, The Underinvestment Problem and Corporate Derivatives Use, Financial Management, Vol. 27, pp Géckzy, C., B.A. Minton, and C. Schrand, 1997, Why Firms Use Currency Derivatives, Journal of Finance, Vol. 52, pp Graham, J.R., and C. Harvey, 2001, The Theory and Practice of Corporate Finance: Evidence from the Field, Journal of Financial Economics, Vol. 60, pp Graham, J.R., M. Lemmon, and J. Schallheim, 1998, Debt, Leases, Taxes, and the Endogeneity of Corporate Tax Status, Journal of Finance, Vol. 53, pp Graham, J.R. and D.A. Rogers, 2002, Do Firms Hedge in Response to Tax Incentives?, Journal of Finance, Vol. 57, pp Graham, J.R., and C.W. Smith, 1999, Tax Incentives to Hedge, Journal of Finance, Vol. 54, pp Grant, K., and A.P. Marshall, 1997, Large UK Companies and Derivatives, European Financial Management, Vol. 3, pp

6 Hakkarainen, A., N. Joseph, E. Kasanen, and V. Puttonen, 1998, The Foreign Exchange Exposure Management Practices of Finnish Industrial Firms, Journal of International Financial Management and Accounting, Vol. 9, pp Hall, B.J., 2002, Six Challenges of Equity-Based Pay Design, Presentation at HBS Executive Compensation Workshop. Hall, B.J., and K.J. Murphy, 2000, Optimal Exercise Prices for Risk Averse Executives, American Economic Review, Vol. 90, pp Hall, B.J., and K.J. Murphy, 2002, Stock Options for Undiversified Executives, Journal of Accounting and Finance, Vol. 33, pp Haushalter, D.G., 2000, Financing Policy, Basis Risk and Corporate Hedging: Evidence from Oil and Gas Exporters, Journal of Finance, Vol. 55, pp Hentschel, L., and S.P. Kothari, 2001, Are Corporations Reducing or Taking Risks with Derivatives?, Journal of Financial and Quantitative Analysis, Vol. 36, pp Holthausen, D.M., 1979, Hedging and the Competitive Firm under Price Uncertainty, American Economic Review, Vol. 69, pp Jensen, M.C., and W.H. Meckling, 1976, Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics, Vol. 3, pp Jensen, M.C., and K.J. Murphy, 1990, Performance Pay and Top Management Incentives, Journal of Political Economy, Vol. 98, pp

7 Kahneman, D., and A. Tversky, 1979, Prospect Theory: An Analysis of Decision under Risk, Econometrica, Vol. 47, pp Lapan, H., and G. Moschini, 1994, Futures Hedging under Price, Basis, and Production Risk, American Journal of Agricultural Economics, Vol. 76, pp Lapan, H., G. Moschini, and S.D. Hanson, 1991, Production, Hedging, and Speculative Decisions with Options and Futures Markets, American Journal of Agricultural Economics, Vol. 73, pp Loderer, C., and K. Pichler, 2000, Firms: Do You Know Your Currency Risk Exposure? Survey Results, Journal of Empirical Finance, Vol. 7, pp MacKie-Mason, J., 1990, Do Taxes Affect Corporate Finance Decisions?, Journal of Finance, Vol. 45, pp Mallin, C., K. Ow-Yong, and M. Reynolds, 2001, Derivatives Usage in UK Non- Financial Listed Companies, European Journal of Finance, Vol. XX, pp Mason, R., 1995, The Allocation of Risk, in: The Global Financial System: A Functional Perspective, Harvard Business School, Boston. Mayers, D. and C.W. Smith, 1982, On the Corporate Demand for Insurance, Journal of Business, Vol. 55, pp McKinnon, R.I., 1967, Futures Markets, Buffer Stocks, and Income Stability for Primary Producers, Journal of Political Economy, Vol. 75, pp

8 Merton, R.C., 1989, On the Applications of the Continuous-Time Theory of Finance to Financial Intermediation, Geneva Papers on Risk and Insurance, Vol. 14, pp Meulbroek, L.K., 2000, The Effect of Equity-Linked Compensation: Understanding the Full Costs of Awarding Executive Stock Options, Working paper, Harvard Business School. Mian, S.L., 1996, Evidence on Corporate Hedging Policy, Journal of Financial and Quantitative Analysis, Vol. 31, pp Miller, M.H., and F. Modigliani, 1961, Dividend Policy, Growth and the Valuation of Shares, Journal of Business, Vol. 34, pp Minton, B.A., and C. Schrand, 1999, The Impact of Cash Flow Volatility on Discretionary Investments and the Cost of Debt and Equity Financing, Journal of Financial Economics, Vol. 54, pp Modigliani, F., and M.H. Miller, 1958, The Cost of Capital, Corporation Finance and the Theory of Investment, American Economic Review, Vol. 48, pp Moschini, G., and H. Lapan, 1995, The Hedging Role of Options and Futures under Joint Price, Basis, and Production Risk, International Economic Review, Vol. 36, pp Myers, S.C., 1977, Determinants of Corporate Borrowing, Journal of Economics, Vol. 5, pp Nance, D.R., C.W. Smith, and C.W. Smithson, 1993, On the Determinants of Corporate Hedging, Journal of Finance, Vol. 48, pp Oosterhof, C.M., 2001, An Overview of the Literature on Corporate Risk Management, SOM Research Report Nr. 01E06, University of Groningen. 160

9 Petersen, M., and R. Thiagarajan, 2000, Risk Measurement and Hedging: With and Without Derivatives, Financial Management, Vol. 29, pp Phillips, A.L., 1995, 1995 Derivatives Practices and Instruments Survey, Financial Management, Vol. 24, pp Pramborg, B., 2005, Foreign Exchange Risk Management by Swedish and Korean Nonfinancial Firms: A Comparative Survey, Pacific-Basis Finance Journal, Vol. 13, pp Pratt, J.W., 1964, Risk Aversion in the Small and in the Large, Econometrica, Vol. 32, pp Rawls, S.W., and C.W. Smithson, 1990, Strategic Risk Management, Journal of Applied Corporate Finance, Vol. 3, pp Saito, R., and R.F. Schiozer, 2005, Derivatives Usage and Risk Management by Non-financial Firms: A Comparison between Brazilian and International Evidence, Working paper, Getulio Vargas Foundation. Sandmo, A., On the Theory of the Competitive Firm under Price Uncertainty, American Economic Review, Vol. 61, pp Saunders, A., 1997, Financial Institutions Management, A Modern Perspective, Irwin. Smith, C.W., 1995, Corporate Risk Management: Theory and Practice, Journal of Derivatives, Vol. 2, pp Smith, C.W., C.W. Smithson, and D.S. Wilford, 1990, Managing Financial Risk, New York: Harper Business. Smith, C.W., and R.M. Stulz, 1985, The Determinants of Firms Hedging Policies, Journal of Financial and Quantitative Analysis, Vol. 20, pp Smithson, C.W., 1998, Managing Financial Risk, Irwin. 161

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