000 02172nam a2200217 4500
999 _c383036
_d383036
003 APU
005 20200305010617.0
008 200304b2019 xxu||||| |||| 00| 0 eng d
050 _aPG-24-0096
100 0 _aCHEONG XIN HOI (TP038910)
_945545
245 1 0 _aIMPACT OF DERIVATIVE USAGE ON THE VALUE OF NON-FINANCIAL FIRMS IN MALAYSIA /
_cCHEONG XIN HOI.
260 _aKuala Lumpur :
_bAsia Pacific University,
_c2019.
300 _a113 pages :
_billustrations ;
_c30 cm.
502 _aA project submitted in partial fulfillment of the requirements of Asia Pacific University of Technology and Innovation for the degree of B.A. (Hons) in Banking and Finance with specialism in Investment and Risk Management (UC3F1802BAF(IRM)).
520 _aOver the recent decade, firms increasingly using derivatives to hedge their position. Derivative usage is one of the hedging techniques used in protecting firms from different kind of risks. There has been considerable discussion in the academia of whether derivative can be value relevant or not. This is related to both risk management and value maximization perspectives in terms of theory including Modigliani and Miller Theory and Arbitrage Pricing Theory. The main purpose of this research is to investigate the impact of derivative usage in non-financial firms and to identify whether the use of financial derivative for hedging purpose is a value increasingly strategy for firms with exposure to financial risks. Secondary data and quantitative approach were used and a sample of 20 non-financial firms in terms of market capitalization form year 2012 to 2017 is included in this study. TO carry out the analysis, ordinary least square and panel data techniques are used in estimating the model. this research concluded that he usage of derivative could not improve the firm value. All interest rate, foreign currency and commodity derivatives are found to be insignificantly related to firm value.
650 0 _aDerivative securites
_zMalaysia.
_945546
650 0 _aHedging (Finance)
_945547
650 0 _aRisk management.
_945548
700 0 _aMs. Nalini Gebril
_eSupervisor.
_945550
942 _2lcc
_cUndergraduate Theses