Hedging, hedge accounting, and speculation in a rational expectations equilibrium

Barnes, R., 2001. Accounting for derivatives and corporate risk management policies. Working Paper, London Business School. Bodnar, 1998, 1998 Wharton survey of financial risk management by US non-financial firms, Financial Management, 70, 10.2307/3666414 Christensen, P., Feltham, G., 2003. Economics of Accounting, vol. I, Information in Markets, Kluwer, Bosten et al. Campbell, 1987, Optimal managerial incentive contracts and the value of corporate insurance, Journal of Financial and Quantitative Analysis, 22, 315, 10.2307/2330966 DeMarzo, 1995, Corporate incentives for hedging and hedge accounting, The Review of Financial Studies, 8, 743, 10.1093/rfs/8.3.743 Ewert, 2005, Economic effects of tightening accounting standards to restrict earnings management, The Accounting Review, 80, 1101, 10.2308/accr.2005.80.4.1101 Feltham, 2001, Incentive efficiency of stock versus options, Review of Accounting Studies, 6, 7, 10.1023/A:1011377902967 Fischer, 1999, Managing employee compensation risk, Review of Accounting Studies, 4, 45, 10.1023/A:1009685921612 Fischer, 2000, Reporting bias, The Accounting Review, 75, 229, 10.2308/accr.2000.75.2.229 Hentschel, 2001, Are corporations reducing or taking risks with derivatives?, Journal of Financial and Quantitative Analysis, 36, 93, 10.2307/2676199 Melumad, 1999, Comparing alternative hedge accounting standards: Shareholder’s perspective, Review of Accounting Studies, 4, 265, 10.1023/A:1009638302403 Smith, 1985, The determinants of firm’s hedging policies, Journal of Financial and Quantitative Analysis, 20, 391, 10.2307/2330757 Verrecchia, 2001, Essays on disclosure, Journal of Accounting and Economics, 32, 97, 10.1016/S0165-4101(01)00025-8