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Published in Energy Economics - The use of nonlinear h


by Mohamed Mnasri, Georges Dionne, Jean-Pierre Gueyie

Highlights

  • We study the motivations and real implications of nonlinear hedging strategies

  • Sensitivities of investments and revenues to oil prices influence derivative choice

  • Financial constraints have a non-monotonic relationship with the use of nonlinear hedges

  • Oil production specificities and oil market conditions influence derivative choice

  • The use of pure nonlinear hedges induces higher marginal firm value

http://www.sciencedirect.com/science/article/pii/S0140988317300415

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