Working Capital Management, the Credit Crisis, and Hedging Strategies: Canadian Evidence

25 Pages Posted: 20 Apr 2016

See all articles by Robert L. Kieschnick

Robert L. Kieschnick

University of Texas at Dallas

Wendy Rotenberg

University of Toronto - Rotman School of Management

Multiple version iconThere are 2 versions of this paper

Date Written: June 2016

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.

Suggested Citation

Kieschnick, Robert L. and Rotenberg, Wendy, Working Capital Management, the Credit Crisis, and Hedging Strategies: Canadian Evidence (June 2016). Journal of International Financial Management & Accounting, Vol. 27, Issue 2, pp. 208-232, 2016, Available at SSRN: https://ssrn.com/abstract=2767230 or http://dx.doi.org/10.1111/jifm.12049

Robert L. Kieschnick (Contact Author)

University of Texas at Dallas ( email )

800 W. Campbell Rd, SM31
Richardson, TX 75080
United States
972-883-6273 (Phone)

HOME PAGE: http://www.utdallas.edu/~rkiesch/

Wendy Rotenberg

University of Toronto - Rotman School of Management ( email )

105 St. George Street
Toronto, Ontario M5S 3E6 M5S1S4
Canada

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