| Titre : |
Commodity price hedging and value creation for copper producing companies |
| Type de document : |
Mémoire |
| Auteurs : |
Thibault KAPFER, Auteur |
| Année de publication : |
2020 |
| Importance : |
23 p. |
| Note générale : |
Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. |
| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
CHAINE DE VALEUR ; EVALUATION D'UNE ENTREPRISE ; CREATION DE VALEUR ; MATIERE PREMIERE
|
| Résumé : |
This paper focuses on commodity price hedging of firms producing copper and the impact on the value of producing firms. Commodities are very volatile and copper, as a thermometer of the global economy and as part many industrial production cycles, is an interesting commodity to analyze.
This study focuses on the link between the fraction of production hedged by producing companies, which is calculated according to the data provided by companies financial reports, and Tobin’s Q as well as other control variables that are copper price, leverage, liquidity, firm performance, firm size and price to book ratio. Dummy variables have also been used.
We proceeded to a two steps analysis : a bivariate analysis to put forward ceteris paribus effects and a multivariate analysis. The results of our regressions tend to show no significant link between a higher fraction of production hedged and Tobin’s Q but a further analysis with a more important dataset should be interesting to run in order to confirm these results. |
| Programme : |
PGE-Rouen |
| Spécialisation : |
Finance d’Entreprise - Corporate Finance |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=531026 |
|  |
Commodity price hedging and value creation for copper producing companies / 2020 
