Of three methods examined for determining hedge ratios-using yields, option-adjusted modified durations, or non-option-adjusted modified durations-combination hedge ratios derived from option-adjusted modified durations performed best.Lawrence Morgan
(year 0 to year + 1) where real capital expenditure is the reported capital expenditure adjusted by the CPI inflation rate), Loss (equal to one if the firm experiences a loss in the year, and zero otherwise), and Coverage (the number analysts used to calculate the mean consensus ...
Hedges cutting deviceThe hedges cutting device consists of a movable support (g), a vertical guide rod (i), and a pivotable support plate (a), for the hedge shears. This may be achieved by means of a sliding guide (j), on the guide rod (i) are adjusted in height. In addition, ...
(7) can be adjusted in height on the base frame (1) is arranged, as a result of which the cutting tool (2) transversely to the direction of travel of the base frame in a virtually constant height can be guided horizontally,and that the cutting tool (2) via a detachable holder (3)...