GLOBAL JOURNAL OF BUSINESS RESEARCH ♦ VOLUME 6 ♦ NUMBER 3 ♦ 2012 HEDGING, HEDGE ACCOUNTING AND SPECULATION: EVIDENCE FROM CANADIAN OIL AND GAS COMPANIES Rikard Smistad, Mount Royal University ...
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...Global journal of business research volume number hedging hedge accounting and speculation evidence from canadian oil gas companies rikard smistad mount royal university igor pustylnick smc abstract using archival data this paper presents the results analyzing a sample twelve primarily western energy firms their use financial derivatives to manage commodity price risk range in size small large based on total assets all document disclose strategies derivative products they regardless make common are more likely utilize than mid sized peers except for largest ones claim do not speculate however by clarifying definition attempt different extent jel g m keywords introduction ased taken association petroleum producers website canada ranks as world s third producer natural seventh crude capp being fifth b industry invested cdn billion into economy making it private sector investor comprising market value toronto stock exchange directly indirectly employs nearly half million people geographic...