University of Twente Student Theses
Derivative usage in low and high tech industries
Lansink, L.H.J. (2019) Derivative usage in low and high tech industries.
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| Abstract: | This research examines 141 companies from the United Kingdom in high and low tech industries. It is the first study that analyses the impact of firm factors on derivatives in comparison with high and low tech industries. The study finds that companies in low tech industries make more use of derivatives than companies in high tech industries. It might be the result of the negative impact of ownership concentration. Another finding is that companies in low tech industries are more impacted by debt maturity on derivatives usage than companies in high tech industries. Also, for general derivatives, foreign exchange derivatives and interest rate derivatives, companies in high and low tech industries are equally minimally impacted by size. According to the sample size used by this research, a difference in impact of growth opportunity (market-to-book ratio) on derivative usage cannot be predicted, a priori. Moreover, this thesis finds that companies in low tech industries are more impacted on derivative usage by international operation than are companies in high tech industries. It seems that companies in high tech industries are positively related on general derivative usage from international operations and companies in low tech industries negatively. |
| Item Type: | Essay (Master) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Business Administration MSc (60644) |
| Link to this item: | https://purl.utwente.nl/essays/78250 |
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