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Journal articles on the topic 'Derivatives usage'

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Author: Grafiati

Published: 10 December 2022

Last updated: 29 January 2023

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1

Kamau, Philip, Eno L. Inanga, and Kami Rwegasira. "Size and currency derivatives usage by multilateral banks." Journal of Advances in Management Research 11, no. 3 (October 28, 2014): 257–72. http://dx.doi.org/10.1108/jamr-10-2013-0061.

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Purpose – The purpose of this paper is to investigate the extent to which the size of multilateral banks (MBs) influences their usage of currency derivatives to manage currency risk. It provides an empirical assessment of whether economies of scale and scope found in other studies apply to MBs. Design/methodology/approach – A quantitative hypothesis regarding the relationship of the size of MBs to their usage of currency derivatives was tested using regression, correlation and analysis of variance. Findings – The results show that there is a significant positive relationship between size (as measured by total assets) of MBs and the total principal amounts of currency derivatives used. These results suggest that MBs are enjoying economies of scale and scope in using currency derivatives in managing currency risk. Research limitations/implications – The data used were obtained from annual reports that may not fully provide relevant information that could influence the usage and size of currency derivatives. Future studies may therefore use surveys to obtain data to conduct multivariate regression analysis to provide further insights on other determinants of currency derivatives usage. Originality/value – The study is of value to those interested in multilateral banking. It breaks new ground by using non-survey method for the first time in investigating the relationship between size and currency derivatives used by MBs. The results are also useful for financial institutions selling currency derivative products to MBs in identifying which to target. For managers of small MBs it may be cost effective for them to use internal hedging techniques as economies of scale applies in currency derivative markets. The results of the study are also useful to policy and regulation of MBs.

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2

Kwon, Taek Ho, Rae Soo Park, and Uk Chang. "Derivatives Use, Firm Value, Risk and Determinants: Evidence of Korean Firms." Journal of Derivatives and Quantitative Studies 19, no. 4 (November 30, 2011): 335–62. http://dx.doi.org/10.1108/jdqs-04-2011-b0001.

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In this paper we analyze the incentives of derivatives usage and its effect on the risk management and value of firms in Korea. We find that Korean non-financial firms use derivatives not only by the economic incentives to hedge risks but also by the irrational incentives such as the profitability of derivative usage in the previous year. Further results show that the usage of derivatives has a negative effect on the risk management of the firm, which results in the decrease of the firm value. These results show that investors have doubt about the incentives and the effects of derivatives usage in Korea.

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3

Kropienė, Rūta, and Gžegož Jurgo. "Weather Derivatives: Usage Possibilities for the Lithuanian Economy." Lietuvos statistikos darbai 49, no. 1 (December 20, 2010): 62–68. http://dx.doi.org/10.15388/ljs.2010.13949.

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The impact of weather on many commercial and recreational activities is significant and varies both geographically and seasonally. Many industries, including agriculture, energy, utility, construction, tourism and other businesses, are either favourably or adversely affected by “bad” weather. For this reason, financial markets have devised a relatively new class of instruments, the so-called “weather derivatives”, the first of which were launched in 1996 in the United States. There is a number of factors behind the growth in the weather derivatives market. One of these is the deregulation of energy markets. Another one is that capital and insurance markets have come closer to each other. A weather derivative is the newest product of the financial derivatives market. It allows a market participant to minimise a risk from daily weather fluctuations, while insurance companies sell insurance against catastrophic events. The main aim of this article is to explore possibilities to use weather derivatives for the Lithuanian economy. To reach the aim, the following goals were set: to describe products of weather derivatives and their features and to present the possibilities to use these derivatives in the Lithuanian economy on the basis of an example of temperature derivatives. A hypothesis is made that Lithuanian companies could discover new possibilities for business management through the use of weather derivatives. The methods used in the paper are as follows: comparative analysis, indexes, regression and correlation analysis.

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4

Naito, John, and Judy Laux. "Derivatives Usage: Value-Adding Or Destroying?" Journal of Business & Economics Research (JBER) 9, no. 11 (October 28, 2011): 41. http://dx.doi.org/10.19030/jber.v9i11.6499.

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The following article tests the wealth-building nature of derivatives usage in non-financial firms. Investigating 434 firms and employing univariate and multivariate tests, it uses both the fair values and notional values of firms derivatives contracts to determine whether derivatives usage enhances or destroys firm value.

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5

Oktavia, Oktavia, Sylvia Veronica Siregar, Ratna Wardhani, and Ning Rahayu. "The role of country tax environment on the relationship between financial derivatives and tax avoidance." Asian Journal of Accounting Research 4, no. 1 (August 5, 2019): 70–94. http://dx.doi.org/10.1108/ajar-01-2019-0009.

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Purpose The purpose of this paper is to examine the effect of financial derivatives usage and country’s tax environment characteristics on the relationship between financial derivatives and tax avoidance. Design/methodology/approach This study uses a cross-country analysis with the scope of ASEAN (Association of Southeast Asian Nations) countries which consists of the Philippines, Indonesia, Malaysia, and Singapore. Findings The level of financial derivatives usage positively affects the level of tax avoidance. This finding indicates that financial derivatives can be used as tax avoidance tool. Furthermore, the positive effect of the level of financial derivatives usage on the level of tax avoidance is lower in countries with a competitive tax environment than in countries with an uncompetitive tax environment. This finding indicates that in country with a competitive tax environment, the use of financial derivatives as a tax avoidance tool can be replaced by the tax facilities provided by that country. Research limitations/implications This study uses four countries in the Association of Southeast Asian Nations region and does not test the sample based on the financial derivative types. Practical implications Tax authorities need to establish a clear tax regulation in regard to the tax treatment of financial derivatives transactions, e.g. define the definition of financial derivatives for hedging purposes and financial derivatives for speculative purposes; and define specific criteria to separate financial derivatives for hedging purposes from financial derivatives for speculative purposes. It is necessary to determine whether losses arising from derivative transactions are classified as deductible expenses or non-deductible expenses. Originality/value To the best of the authors’ knowledge, this study is also the first that provide empirical evidence that the relationship between financial derivatives and tax avoidance activities depends on a country’s tax environment.

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6

Wolf, Franziska, Terry Boulter, and Sukanto Bhattacharya. "Derivative Practices in Australian and Canadian Industries." Review of Pacific Basin Financial Markets and Policies 20, no. 04 (November 2, 2017): 1750027. http://dx.doi.org/10.1142/s0219091517500278.

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This study examines derivative practices of Australian and Canadian firms from 2009 to 2013 in a post-global financial crisis environment. Our results show significant differences in the level of derivative usage between both countries, in contrast to earlier hedging studies. We also observe that Canadian firms have a higher propensity to use financial derivatives. We find similarities in derivative usage for firms operating in the industrials, materials, consumer discretionary, and healthcare industries. However, corporate derivative practices seem to be significantly different for energy and IT firms during the sample period.

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7

Majewska, Agnieszka. "Real estate derivatives as financial instrument – possibility prospects of usage in Poland." Investment Management and Financial Innovations 17, no. 3 (September 18, 2020): 148–59. http://dx.doi.org/10.21511/imfi.17(3).2020.12.

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The article refers to the theoretical framework of the possibility of using real estate derivatives in the Polish financial market. Although the Polish property market is well developed, and Poland is the leader in the Central and Eastern Europe region, there is a gap in the use of financial instruments concerning the property market. Given the lack of a property derivatives market in Poland, conditions and opportunities for this market development are presented. The experience of the United Kingdom and the United States in this field shows that one of the most important aspects is stable and a well-functioning financial market. Therefore, the macroeconomic data and the data of the Polish financial market are examined.The analysis carried out indicates sufficient conditions and opportunities for the development of real estate derivatives in Poland. The macroeconomic data and data from the capital market have shown the economic environment’s stability and balance. One of the limitations is the existence of a clear and respectable index used as an underlying asset in derivatives on the Polish market. Only WIG real estate index is listed on the Polish Exchange. Although there are sufficient conditions for introducing the real estate derivatives in Poland, the success of all financial innovations depends on the willingness of potential users to use them.

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8

Bartram, Söhnke M., Gregory W. Brown, and Frank R. Fehle. "International Evidence on Financial Derivatives Usage." Financial Management 38, no. 1 (March 2009): 185–206. http://dx.doi.org/10.1111/j.1755-053x.2009.01033.x.

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9

Vashisht, Anil. "Usage of rainfall derivatives to hedge rainfall risk: A feasibility study of Gwalior Chambal region." Indian Journal of Science and Technology 13, no. 42 (November 14, 2020): 4369–73. http://dx.doi.org/10.17485/ijst/v13i42.1771.

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Objectives: To check the awareness level of farmers towards crop insurance schemes available so far and their satisfaction level with those schemes. To check the acceptability of farmers towards rainfall derivatives Methods: To achieve the objective of study, we have conducted a survey among the farmers of Gwalior Chambal region in India. The sample size of survey was 470 farmers; we have selected 5 villages per tehsil and 2 farmers per village. We have used cross tabulation to analyse the collected data. Findings: This study shows that only few farmers were aware about the previously launched crop insurance schemes by government and out the farmers who were aware and used the previous schemes were not satisfied with them. This study also shows the positive response by farmers towards rainfall derivative products. The study shows that most of the farmers believed that rainfall derivative can be a very effective tool for hedging the rainfall risk. Novelty: This study is very much helpful to understand the acceptability of rainfall derivatives among the farmers of Gwalior-Chambal region. This study can be used as a recommendation to launch the rainfall derivatives in India. Keywords: Rainfall risk; rainfall derivatives; crop insurance; hedging; weather index-based insurance; crop damage

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10

De Ceuster, Marc, Liam Flanagan, Allan Hodgson, and Mohammad I. Tahir. "Determinants of Derivative Usage in the Life and General Insurance Industry: The Australian Evidence." Review of Pacific Basin Financial Markets and Policies 06, no. 04 (December 2003): 405–31. http://dx.doi.org/10.1142/s0219091503001146.

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Core business and financial market risks are not easily reduced by standard operating procedures in insurance companies. Derivatives theoretically provide a cost effective vehicle to hedge these risks. This paper provides an empirical analysis of the determinants of derivative usage as well as the extent of derivative usage in the Australian insurance industry in both life and general insurance companies for the period 1997–1999. Empirical results for the Australian life insurance industry in general confirm the findings of UK and US based research. However, the Australian general insurance industry does not appear to follow the conclusions of previous literature. Our results indicate that for life insurers, the determinants of derivative usage were size, leverage and reinsurance. For the general insurance industry the determinants were size and the extent of long tail lines of business written. As regards the determinants of the extent of derivative usage, these were size and asset-liability duration mismatches for life insurers. For the general insurance industry the determinants of the extent of derivative usage were size, the extent of long tail lines of business written, and the reporting year.

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11

Zhou, Sheunesu. "ANALYZING THE RELATIONSHIP BETWEEN DERIVATIVE USAGE AND SYSTEMIC RISK IN SOUTH AFRICA." EURASIAN JOURNAL OF ECONOMICS AND FINANCE 9, no. 4 (2021): 217–34. http://dx.doi.org/10.15604/ejef.2021.09.04.002.

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This paper analyzes the relationship between derivative usage and systemic risk in South Africa. We employ expected shortfall as a measure of systemic risk for the banking sector. The more flexible Toda-Yamamoto Granger non-causality test is used to find the direction of causality between the variables, and the ARDL estimation technique is employed to estimate the specified model. We also test for the existence of a long-run relationship amongst the variables using the Bounds test approach. We find that credit derivatives and bank credit extensions increase systemic risk in the long run. Moreover, the systemic risk decreases in bank liquidity and usage of equity derivatives. However, in the short run, we find that increases in bank liquidity tend to increase systemic risk. We interpret this to imply that improvements in liquidity cause banks to undertake riskier transactions. Furthermore, the market can also perceive central bank interventions to increase liquidity as a sign of worsening financial conditions. On the backdrop of these results, we recommend continuous monitoring of derivatives markets to avoid risk excesses that could pose threat to the whole financial system.

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12

Alam, Atia, and Talat Afza. "Corporate Derivatives and Risk Management: A Moderated Mediation Test." Pakistan Journal of Social Research 03, no. 04 (December 31, 2021): 179–90. http://dx.doi.org/10.52567/pjsr.v3i4.133.

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The present study contributes to existing literature by empirically testing the moderated mediating role of firm’s risk on the relationship between derivative usage and firm value by gathering sample data of Pakistani and Malaysian non-financial firms. By using Bootstrap technique of Hayes (2015), study finds that the use of derivative has both direct and indirect effect on firm value in Pakistan, contrary to Malaysia, as derivative usage significantly enhances firm value by reducing firm’s risk. Findings remain same for both foreign currency and interest rate derivative usage that firm’s risk significantly mediates the relationship between derivative usage and firm value in Pakistani non-financial corporations. Keywords: Derivative Usage, Firm Value, Firm's Risk, Moderated Mediation, Pakistan, Malaysia

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13

M., Praveen Bhagawan, and Jijo Lukose P.J. "The determinants of currency derivatives usage among Indian non-financial firms." Studies in Economics and Finance 34, no. 3 (August 7, 2017): 363–82. http://dx.doi.org/10.1108/sef-09-2014-0172.

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Purpose Theoretical studies suggest that hedging helps firms to reduce their financial distress costs and underinvestment problem especially if the markets are imperfect. Hence hedging, through the use of currency derivatives, is one of the important financial policies for firms. The purpose of this paper is to empirically examine the determinants of derivatives usage by Indian firms using financial disclosures on currency derivatives by non-financial constituents of S&P CNX 500 for 2009. Design/methodology/approach We manually collect the data on foreign currency derivatives from firms’ annual reports for 2009 and then follow Haushalter’s (2000) approach to examine the determinants of firms’ decision to hedge. A firm can make its hedging decision at once, deciding whether to hedge and how much to hedge. Given the nature of dependent variable that is censored, it is appropriate to use Tobit regression. A firm can also decide its hedging decision in two steps by deciding first on whether to hedge and later how much to hedge. The former is modelled by probit regression and later by conditional regression. Findings Our empirical evidence suggests that forwards are the main instruments for managing currency risk followed by options and swaps. The objectives, in the order of priority, are reduction in exposure associated with foreign currency receivables, foreign currency long-term loans and foreign currency payables. Firm’s decision to hedge is positively related to size, foreign exchange exposure and leverage, while negatively related to liquidity and investment opportunities. We find evidence of higher derivative usage by firms with both higher currency risk and higher financial distress costs. Practical implications The findings of this paper will help corporates, researchers and regulators to understand firms’ motives behind hedging. Originality/value This is the first empirical study that examines the determinants of firm’s decision to hedge and the extent of hedging in the context of emerging economies like India.

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14

Fan, Zhaoqian, Yukun Qin, Song Liu, Ronge Xing, Huahua Yu, and Pengcheng Li. "Chitosan Oligosaccharide Fluorinated Derivative Control Root-Knot Nematode (Meloidogyne incognita) Disease Based on the Multi-Efficacy Strategy." Marine Drugs 18, no. 5 (May 22, 2020): 273. http://dx.doi.org/10.3390/md18050273.

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Plant root-knot nematode disease is a great agricultural problem and commercially available nematicides have the disadvantages of high toxicity and limited usage; thus, it is urgent to develop new nematicides derived from nature substances. In this study, a novel fluorinated derivative was synthesized by modifying chitosan oligosaccharide (COS) using the strategy of multiple functions. The derivatives were characterized by FTIR, NMR, elemental analysis, and TG/DTG. The activity assays show that the derivatives can effectively kill the second instar larvae of Meloidogyne incognita in vitro, among them, chitosan-thiadiazole-trifluorobutene (COSSZFB) perform high eggs hatching inhibitory activity. The derivatives can regulate plant growth (photosynthetic pigment), improve immunity (chitinase and β-1,3-glucanase), and show low cytotoxicity and phytotoxicity. According to the multi-functional activity, the derivatives exhibit a good control effect on plant root-knot nematode disease in vivo. The results demonstrate that the COS derivatives (especially fluorinated derivative) perform multiple activities and show the potential to be further evaluated as nematicides.

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15

Waswa, Mercelline Nafula, and Dr Joshua Matanda Wepukhulu. "EFFECT OF USAGE OF DERIVATIVE FINANCIAL INSTRUMENTS ON FINANCIAL PERFORMANCE OF NON-FINANCIAL FIRMS." International Journal of Finance and Accounting 3, no. 2 (October 2, 2018): 1. http://dx.doi.org/10.47604/ijfa.724.

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Purpose: The purpose of this study is to examine the effect of derivative financial instrument utilization on the financial performance of non-financial firms recorded at the Nairobi Securities Exchange. The objectives that guided this study are to assess the impact of use of derivatives in risk management on financial performance of non-financial firms listed on the Nairobi Securities Exchange (NSE). Methodology: The study embraced the regression model. A census of all the 47 non-financial firms listed at the NSE as at December 2017 constituted the target population where only 11 listed non-financial firms were financial derivative instruments users. The study utilized qualitative and quantitative research techniques especially the utilization of descriptive research design. The data for this study was collected using questionnaires, audited financial statements and annual reports of individual firms for the multi year time frame covering 2013-2017 (the two years comprehensive). Results: The study discovered that greater part of the firms (66.67%) utilizes Forwards, 22.22% utilize Swaps and 11.11% utilize Futures and Options for financial risk management. From the study the outcomes were as per the following: presence of debt in the financial structure of the non-financial firms listed at the NSE does not influence its financial performance as estimated by return on assets (ROA), use of derivatives in efficiency in trading influences the financial performance of the firms, use of derivatives in price stabilization is statistically significant and utilization of derivatives in price discovery does not influence the financial performance of the firms. By and large, the performance of the recorded non-financial firms at the NSE amid the time of study was 8.13 with a standard deviation of 10.67. Unique contribution to Theory, Practice and Policy: The study recommended that firms should combine both debt and equity in their financial structure. It is therefore incumbent on firms’ managers and financial advisors to continuously study the market and advice on the appropriateness of the proportions of the various sources of finance based on market circumstances at any given time.

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16

Sangani, Karan. "The Use of Financial Derivatives to Acquire ‘Control’ of the Target Company: Locating the Indian Regulatory Approach vis-à-vis the European Discourse." Business Law Review 41, Issue 3 (May 1, 2020): 103–7. http://dx.doi.org/10.54648/bula2020103.

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The question of what amounts to ‘acquisition of control’ under the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations) remains a vexatious issue, academically as well as judicially. The controversy is further compounded in case of usage of financial derivatives to acquire creeping control of the target company. This article, while providing a theoretical account for the disclosure and inclusion of financial derivatives in the determination of an open offer trigger on a qualitative basis, traces the responses of the regulators in the jurisdictions of the United Kingdom, Italy, and Germany to the usage of financial derivatives for the purposes of acquisition of de facto control of the target company. In this light, this article critiques the approach adopted by the SEBI in its determination of the trigger of the mandatory offer in the matter of New Delhi Television Limited (NDTV) in June 2018, which involved the use of financial derivatives. This article further proposes that the SEBI takeover regime ought to be overhauled to incorporate exclusive provisions regarding the disclosure and inclusion of financial derivatives in the determination of a mandatory offer trigger, if the use of derivative instruments enables the acquirer to gain effective control of the target company, in order to ensure that the Indian takeover regulations are in accordance with the regulatory practices developed by mature jurisdictions. Acquisition of control, financial derivatives, takeover regime, minority shareholders, decoupling

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17

Mallin, Chris, Kean Ow-Yong, and Martin Reynolds. "Derivatives usage in UK non-financial listed companies." European Journal of Finance 7, no. 1 (March 2001): 63–91. http://dx.doi.org/10.1080/13518470121892.

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18

KAMAU, PHILIP, ENO L. INANGA, and KAMI RWEGASIRA. "The usage of currency derivatives in multilateral banks." Management Research Review 38, no. 5 (May 18, 2015): 482–504. http://dx.doi.org/10.1108/mrr-10-2013-0248.

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Purpose – The purpose of this paper is to investigate the extent to which multilateral banks (MBs) use currency derivatives (CDs) to hedge and speculate in managing currency risk. It aims to provide an empirical assessment of CDs products used by MBs as a group not studied before. Design/methodology/approach – Quantitative hypothesis regarding the usage of CDs to minimize adverse impact of currency risk was tested using z test about population proportion. Findings – The results show that MBs are using CDs in the following order of importance: currency swaps, currency forwards, currency options and currency futures primarily to hedge currency risk. Research limitations/implications – The results of the study can be generalized only for MBs, given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed in the stock exchanges. Originality/value – The study is of value to those interested in the multilateral banking industry. The authors acknowledge that it is the first study providing empirical evidence on CDs’ usage by MBs as a group. The results are particularly useful to managers of MBs in terms of helping them to make choices in usage of CDs. The paper has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs, as they do not speculate with CDs.

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Shringi, M., and C. Baregama. "1,3,7,8-SUBSTITUTED XANTHINE DERIVATIVES AS POTENTIAL ANTIASTHMATIC AGENTS WHICH ACT ON ADENOSINE RECEPTOR." INDIAN DRUGS 56, no. 07 (July 28, 2019): 84–87. http://dx.doi.org/10.53879/id.56.07.11436.

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Asthma is one of the most common chronic diseases in modern society. There is a high prevalence of usage of complementary medicine for asthma. Xanthine derivatives which act on adenosine receptor have been cited as a most popular complementary treatment. This studys was undertaken to determine if there is any evidence for the clinical efficacy of xanthine derivatives for the treatment of asthma symptoms. This review highlights the more recent developments in the design and optimization of xanthine derivatives which act on A2A and A2B adenosine receptor. 1,3,8 and 1,3,7,8-substituted xanthine derivatives were found to be effetive. 1,3,7,8 Substituted xanthine derivative possess good affinity on A2A and A2B AR and are not selective for one particular receptor. This is benefitical for decreasing the side effects related to CVS.

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20

Martin, Miguel Ángel, Wolfgang Rojas, José Luis Eráusquin, Dayana Yupanqui, and Édgar Vera. "Derivatives usage by non-financial firms in emerging markets: the peruvian case." Cuadernos de difusión 14, no. 27 (December 30, 2009): 73–86. http://dx.doi.org/10.46631/jefas.2009.v14n27.05.

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Financial derivatives markets have reached a remarkable development in recent years, but this pattern has not attained the same strength in developing countries. In consequence, an important question arises: what is the development degree of financial derivatives markets in emerging countries and which variables influence the use of derivatives in the top companies? To analyze this topic, Peru has been chosen as a reference and the Non-Financial Firms as well. In order to enhance objectivity, an empirical study has been conducted through a structured survey directed to chief financial managers of companies classified among the TOP 1000 in the country. This information was collected in order to explain the effect of the determinants that influence the development of financial derivatives in Peru. The results show that the use of derivatives in Peru is low and the relevant factors affecting its development are the degree of training in derivatives and the market regulation. This outcome suggests that there should be patterns of behaviour for market agents and government entities to promote the use of derivatives, as well as provide information for future research that might contribute to establish the most adequate mechanisms for market-development purposes.

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Kwon, Taek Ho, Rae Soo Park, and Uk Chang. "The Effect of Derivatives Usage of Korean Commercial Banks on Their Firm Value." Journal of Derivatives and Quantitative Studies 21, no. 3 (August 31, 2013): 331–51. http://dx.doi.org/10.1108/jdqs-03-2013-b0004.

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In this study, we would be interested in knowing how commercial banks use derivatives and analyze its effect on the firm vale in Korea. We find that the derivatives transaction by banks increases during the analysis period and that banks use the derivatives mostly for speculation rather than hedging. Foreign exchange risk is mostly concerned for the purpose of risk hedging, and forward and/or futures are preferred to other derivatives such as option or swap. We also find that the usage of derivatives has a positive effect on the firm value of Korean commercial banks.

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Vasylyeva, N. "“SLUZHBOVTSI” (OFFICIALS) IN THE 1920-30’s UKRAINIAN LITERARY TRANSLATIONS (based on the abridged and free translations by E. Zbars’ka)." PROBLEMS OF SEMANTICS, PRAGMATICS AND COGNITIVE LINGUISTICS, no. 33 (2018): 184–98. http://dx.doi.org/10.17721/2663-6530.2018.33.13.

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The article pioneers introduction of the noun “sluzhba” (job, service) and its derivative “sluzhbovets’” (an official) into the free and abridged translations by E.Zbars’ka of James Oliver Curwood’s works “Kazan” and “Baree, son of Kazan”. The noun “sluzhba” is introduced into the translation by means of paraphrase, its derivative “sluzhbovets’” is introduced into the translation by means of translation transformation of concretization. The introduction of the noun “sluzhba” into the translations by E.Zbars’ka of James Oliver Curwood’s works could be caused by some peculiarities of E.Zbars’ka individual translating style. Also it could be caused by the then tendency for the domestication of translations, which, in its turn, might be caused by the then so called “iron curtain”. The usage of the noun “sluzhba” and the derivatives in the works of the then translated literature (free and abridged translations by E.Zbars’ka) is being compared to the usage of the noun “sluzhba” and its derivatives in the works of the then national literature (the works of Valeriyan Pidmohylnyi, Mike Yohansen and Mikhail Zoshchenko). An attempt is being made to explain the introduction of the noun “sluzhbovets’” into E.Zbars’ka’s translation by the then professional and social composition of the population in the country of the source language. Also an attempt is being made to explain the usage of the noun “sluzhba” and its derivatives in the works of the then translated literature as well as in the works of the then national literature from the point of view of literary polysystem theory by Itamar Even-Zohar. Prospects for research are to continue the study of the 1920-30’s Ukrainian translation heritage, namely the study of Ukrainian literary free and abridged translations of the 1920-30’s, the study of their similarities and of their connection with the then Ukrainian national literature.

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Vaskelienė, Jolanta. "On Common Root Nouns of the Lithuanian Language with the Suffixes -(i)acija and -imas." Respectus Philologicus, no. 41(46) (April 15, 2022): 94–106. http://dx.doi.org/10.15388/respectus.2022.41.46.111.

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The article discusses common root nouns of the Lithuanian language with the ending of foreign origin -(i)acija and the suffix of Lithuanian origin -imas. The study, which was based on the analysis of 406 Lithuanian words, revealed that some of the words with -(i)acija form a derivational opposition with verbs; therefore, they should be considered derivatives and that quite often, the -(i)acija derivatives form pairs of derivative synonyms with the -imas(is) verb abstracts. The meanings of nouns, and especially the examples of usage found in the corpora, have shown that in many cases, common root derivatives with -(i)acija and -imas(is) are partial synonyms: they have semantic and valency differences that are neutralized only in certain word combinations; hence, it is impossible to talk about the possibilities of substitution without restrictions. Sometimes the members of pairs of derivative synonyms differ stylistically (for example, the -(i)acija derivatives are terms); often, the frequency of use of common root derivatives also differs. It is believed that in the sources of the lexicography of the current Lithuanian language, some used derivatives or their new meanings should appear (for example, komunikavimas ‘communication’, mutavimas ‘mutation’, vulgarizavimas ‘vulgarization’ and their base verbs).

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Šimaitė, Gabija, and Greta Keliuotytė-Staniulėnienė. "Assessment of the impact of the usage of derivatives on the company’s value." Financial Markets, Institutions and Risks 6, no. 4 (2022): 60–69. http://dx.doi.org/10.21272/fmir.6(4).60-69.2022.

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During periods of increased uncertainty, financial market participants are looking for ways to manage risk. The derivatives can be considered as one of the potential instruments for hedging risk. There is no consensus in the scientific literature on whether the application of derivatives has an impact on a value of a company. Thus, the main purpose of this paper is to quantitatively assess the impact of the application of derivatives on the value of a company. The research hypothesis is formulated as follows: the use of derivatives increases the company’s value, i.e. the application of derivatives has a statistically significant positive impact on the value of the company. Seeking to achieve the main purpose and test the hypothesis, besides the analysis of relevant academic literature, the method of panel data analysis (linear multiple regression) is used to quantitatively assess the effect the application of derivatives has made on the company’s value. 28 companies (constituents of EURO STOXX 50 ESG Index) are analyzed in the period of 2005-2020. The results of the research allow stating the effect of derivatives on the value of companies has proven to be statistically significant and positive.

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Laws, Jacqueline. "Profiling complex word usage in the speech of preschool children: Frequency patterns and transparency characteristics." First Language 39, no. 6 (September 12, 2019): 593–617. http://dx.doi.org/10.1177/0142723719872669.

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This corpus-based study provides a baseline of complex word usage patterns in the spontaneous speech of English preschool children to ascertain the characteristics of their derivative vocabulary before literacy development affects language skills. Frequencies of suffixed derivatives produced by ( N = 243) children aged 2–5 and their caregivers were extracted for 58 suffix variants, yielding 558 types from the former and 1,364 from the latter. Between the youngest and oldest groups, 11 suffix categories increased significantly in type frequency, compared with 22 in the caregiver dataset. All derivative types were classified for transparency of meaning and simplicity of form on a five-point analysability scale. Around 59% of both the child and caregiver derivative vocabulary sets were classified as transparent regardless of age, suggesting that the potential analysability of the preschool child’s input remains surprisingly invariant over time. The study provides baseline data for future studies on the development of morphological awareness in English-speaking schoolchildren.

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Goldberg, Stephen R., Joseph H. Godwin, Myung-Sun Kim, and Charles A. Tritschler. "On the Determinants of Corporate Usage of Financial Derivatives." Journal of International Financial Management & Accounting 9, no. 2 (June 1998): 132–66. http://dx.doi.org/10.1111/1467-646x.00034.

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Sikarwar, Ekta. "Exchange rate fluctuations and firm value: impact of global financial crisis." Journal of Economic Studies 45, no. 6 (November 12, 2018): 1145–58. http://dx.doi.org/10.1108/jes-02-2017-0048.

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Purpose The purpose of this paper is to examine the presence of exchange rate exposure and its relationship with currency derivatives usage in the dynamic environment of the global financial crisis of 2008. Design/methodology/approach Using a sample of 624 Indian firms over the period of April 2001–March 2016, this paper investigates the linear and asymmetric exposure by dividing the full sample period into different sub-periods around the crisis. Findings The evidence presented in the paper suggests that the firms are more exposed to the exchange rate changes since the onset of the financial crisis. However, there is a lack of evidence that the usage of currency derivatives is more effective in reducing exposure during the crisis/post-crisis period as opposed to the pre-crisis period. Practical implications The findings are important to investors and managers for a better understanding of firm behaviours in relation to their risk management policies during the period of external shocks like crisis. Originality/value There is a paucity of research to explore whether the effect of currency derivatives usage on exchange rate exposure varies during external shocks such as crisis periods. The paper provides novel evidence that the effectiveness of derivatives usage in alleviating exposure becomes less during the dynamic environment of crisis.

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Zhao, Fang, and James Moser. "Bank Lending and Interest- Rate Derivatives." International Journal of Financial Research 8, no. 4 (September 14, 2017): 23. http://dx.doi.org/10.5430/ijfr.v8n4p23.

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Using data that cover a full business cycle, this paper documents a direct relationship between interest-rate derivative usage by U.S. banks and growth in their commercial and industrial (C&I) loan portfolios. This positive association holds for interest-rate options contracts, forward contracts, and futures contracts. This result is consistent with the implication of Diamond’s model (1984) that predicts that a bank’s use of derivatives permits better management of systematic risk exposure, thereby lowering the cost of delegated monitoring, and generates net benefits of intermediation services. The paper’s sample consists of all FDIC-insured commercial banks between 1996 and 2004 having total assets greater than $300 million and having a portfolio of C&I loans. The main results remain after a robustness check.

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Petkova, Pavlina. "Derivation Field of the Lexeme Wind." Chuzhdoezikovo Obuchenie-Foreign Language Teaching 49, no. 4 (August 20, 2022): 366–78. http://dx.doi.org/10.53656/for22.405deri.

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This paper outlines the most productive ways of word formation in the English language, focusing on the derivational field of the lexeme “wind”. Derivaties are also clustered according to different thematic groups, connotative meanings, American English usage, constituents of compound words and similarity in meaning. Special attention is paid to differences in theories and approaches to word-formation processes, to using the terms and inconsistencies in spelling of some of the derivatives according to different dictionaries and grammars.

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Kiss, Robert M., and Dennis R. Valenti. "Derivatives Usage and Computer Risk Management Practices of Money Managers." Journal of Investing 6, no. 1 (February 28, 1997): 62–72. http://dx.doi.org/10.3905/joi.6.1.62.

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31

Kang, Hyung Cheol, and Hee Sub Byun. "Financial Characteristics and Derivatives Usage in the Life Insurance Industry." Korean Corporation Management Review 24, no. 2 (April 30, 2017): 1–30. http://dx.doi.org/10.21052/kcmr.2017.24.2.01.

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32

Bodnar, Gordon M., Gregory S. Hayt, Richard C. Marston, and Charles W. Smithson. "Wharton Survey of Derivatives Usage by U.S. Non-Financial Firms." Financial Management 24, no. 2 (1995): 104. http://dx.doi.org/10.2307/3665538.

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Kim, Young Sang, Jouahn Nam, and John H. Thornton. "The effect of managerial bonus plans on corporate derivatives usage." Journal of Multinational Financial Management 18, no. 3 (July 2008): 229–43. http://dx.doi.org/10.1016/j.mulfin.2007.10.001.

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34

Ekinci, Deniz, Murat Şentürk, and Ömer İrfan Küfrevioğlu. "Salicylic acid derivatives: synthesis, features and usage as therapeutic tools." Expert Opinion on Therapeutic Patents 21, no. 12 (November 20, 2011): 1831–41. http://dx.doi.org/10.1517/13543776.2011.636354.

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35

Nguyen, Hoa, Robert Faff, and Allan Hodgson. "Corporate usage of financial derivatives, information asymmetry, and insider trading." Journal of Futures Markets 30, no. 1 (January 2010): 25–47. http://dx.doi.org/10.1002/fut.20402.

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36

Huang, Jingjing, Chen Su, Nathan L. Joseph, and Dudley Gilder. "Monitoring mechanisms, managerial incentives, investment distortion costs, and derivatives usage." British Accounting Review 50, no. 1 (January 2018): 93–141. http://dx.doi.org/10.1016/j.bar.2017.11.004.

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37

Chang, Chuang-Chang, Keng-Yu Ho, and Yu-Jen Hsiao. "Derivatives usage for banking industry: evidence from the European markets." Review of Quantitative Finance and Accounting 51, no. 4 (January 6, 2018): 921–41. http://dx.doi.org/10.1007/s11156-017-0692-3.

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38

Trapp, Rouven, and Gregor N. F. Weiß. "Derivatives usage, securitization, and the crash sensitivity of bank stocks." Journal of Banking & Finance 71 (October 2016): 183–205. http://dx.doi.org/10.1016/j.jbankfin.2016.07.001.

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39

Shanker, Latha. "Derivatives usage and interest rate risk of large banking firms." Journal of Futures Markets 16, no. 4 (June 1996): 459–74. http://dx.doi.org/10.1002/(sici)1096-9934(199606)16:4<459::aid-fut6>3.0.co;2-h.

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40

Miloș, Marius Cristian, and Laura Raisa Miloș. "Use of Derivatives and Market Valuation of the Banking Sector: Evidence from the European Union." Journal of Risk and Financial Management 15, no. 11 (October 27, 2022): 501. http://dx.doi.org/10.3390/jrfm15110501.

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(1) Background: This paper aims to investigate whether the derivatives usage by the banking sector in the European Union has impacted its market valuation in the aftermath of the financial crisis. (2) Methods: Our analysis takes 120 European financial institutions listed on the European Union stock exchange over a period of 14 years into account (2008–2021). We use the generalized method of moments (GMM) to assess whether the use of derivatives allows financial intermediaries to increase their market value. Control variables, such as size, profitability, expectations of the market, bank risk, liquidity performance, and financial condition, are also taken into consideration. (3) Results: Our main findings suggest that market value is affected negatively by derivative asset accumulation. (4) Conclusions: The results are in line with the studies that investigated the impact of financial derivatives on the market value and found a negative connection between the two, justified by the suboptimal hedging or the higher volatility of the earnings.

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Güller, Pınar, Ufuk Atmaca, Uğur Güller, Ulaş Çalışır, and Feray Dursun. "Antibacterial properties and carbonic anhydrase inhibition profiles of azido sulfonyl carbamate derivatives." Future Medicinal Chemistry 13, no. 15 (August 2021): 1285–99. http://dx.doi.org/10.4155/fmc-2020-0387.

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Aim: The aim of this study was to identify inhibition of carbonic anhydrase I and II (CA I and II) isozymes by azido sulfonyl carbamates through both in vitro and in silico approaches and also to determine the drug-likeness properties and antibacterial activities of azido sulfonyl carbamates. Methods & Results: In vitro inhibition and molecular docking studies of azido sulfonyl carbamate derivatives (1–4) on isozymes were performed. Except for derivative 4, all derivatives inhibited human CA I and II. Almost all compounds had antibacterial effects. The docking results showed that compound 3 had the best results, with binding energy of -8.20 kcal/mol for human CA I and -8.24 kcal/mol for human CA II. Conclusion: Molecule 4 inhibited only CA I. Its usage as a potential chemotherapeutic agent specific to the CA I isozyme may be considered.

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42

Lundengård, Karl, Milica Rancic, Vesna Javor, and Sergei Silvestrov. "Novel approach to modelling of lightning current derivative." Facta universitatis - series: Electronics and Energetics 30, no. 2 (2017): 245–56. http://dx.doi.org/10.2298/fuee1702245l.

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A new approach to mathematical modelling of lightning current derivative is proposed in this paper. It builds on the methodology, previously developed by the authors, for representing lightning currents and electrostatic discharge (ESD) currents waveshapes. It considers usage of a multi-peaked form of the analytically extended function (AEF) for approximation of current derivative waveshapes. The AEF function parameters are estimated using the Marquardt least-squares method (MLSM), and the framework for fitting the multi-peaked AEF to a waveshape with an arbitrary number of peaks is briefly described. This procedure is validated performing a few numerical experiments, including fitting the AEF to single- and multi-peaked waveshapes corresponding to measured current derivatives.

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Chernenko, Sergey, and Michael Faulkender. "The Two Sides of Derivatives Usage: Hedging and Speculating with Interest Rate Swaps." Journal of Financial and Quantitative Analysis 46, no. 6 (June 1, 2011): 1727–54. http://dx.doi.org/10.1017/s0022109011000391.

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AbstractExisting cross-sectional findings on nonfinancial firms’ use of derivatives that are usually interpreted as the result of hedging may alternatively be due to speculation. Panel data examinations can distinguish between derivatives practices that endure over time and are therefore more likely to result from hedging, and those that are more transient, thus more consistent with speculation. Our decomposition results indicate that hedging of interest rate risk is concentrated among high-investment firms, consistent with costly external finance. Simultaneously, firms appear to use interest rate swaps to manage earnings and to speculate when their executive compensation contracts are more performance sensitive.

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Philip, Rose Mary, G. S. Susan Treesa, Salim Saranya, and Gopinathan Anilkumar. "Applications of aryl-sulfinamides in the synthesis of N-heterocycles." RSC Advances 11, no. 33 (2021): 20591–600. http://dx.doi.org/10.1039/d1ra04099e.

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45

Vengesai, Edson, and Collin Chikwara. "Derivatives usage and firm value : evidence from South African listed firms." African Journal of Business and Economic Research 15, no. 2 (June 10, 2020): 199–218. http://dx.doi.org/10.31920/1750-4562/2020/v15n2a10.

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46

Kumar, Dilip. "Factors Impacting the Interest Rate Derivatives Usage in Indian Commercial Banks." Theoretical Economics Letters 07, no. 03 (2017): 596–614. http://dx.doi.org/10.4236/tel.2017.73045.

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47

Bodnar, Gordon M., Gregory S. Hayt, and Richard C. Marston. "1995 Wharton Survey of Derivatives Usage by US Non-Financial Firms." Financial Management 25, no. 4 (1996): 113. http://dx.doi.org/10.2307/3665595.

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48

AGGARWAL, RAJ, and BETTY J. SIMKINS. "EVIDENCE ON VOLUNTARY DISCLOSURES OF DERIVATIVES USAGE BY LARGE US COMPANIES." Journal of Derivatives Accounting 01, no. 01 (March 2004): 61–81. http://dx.doi.org/10.1142/s0219868104000063.

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49

Bank, Matthias, and Robert Wiesner. "Determinants of weather derivatives usage in the Austrian winter tourism industry." Tourism Management 32, no. 1 (February 2011): 62–68. http://dx.doi.org/10.1016/j.tourman.2009.11.005.

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Aragon, George O., and J. Spencer Martin. "A unique view of hedge fund derivatives usage: Safeguard or speculation?" Journal of Financial Economics 105, no. 2 (August 2012): 436–56. http://dx.doi.org/10.1016/j.jfineco.2012.02.004.

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