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AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY
Finansal Araştırmalar ve Çalışmalar Dergisi
This study examines the factors related to the use of derivative instruments by non-financial firms in Turkey. The analysis is based on a sample of 115 firms listed on the Borsa İstanbul Industrial Index (XUSIN) between the years 2009 and 2014. Generally, it is found that derivative instruments are used by 35 percent of the sample. The results from univariate tests and logistic regression analysis show that the use of derivatives is positively associated with leverage and firm size. Indoi:10.14784/jfrs.23358 fatcat:xuyo2vwzxnetflmjhrkvlnnn4e