Risk analysis: an analysis of financial derivative usage by farming cooperatives in Parana State
DOI:
https://doi.org/10.11606/rco.v2i4.34719Keywords:
Cooperativism, Risk Management, Derivatives, AgribusinessAbstract
This article investigates risk management for a sample of farming cooperatives in the state of Paraná. In the past decade, studies related to the use of risk management tools, such as derivatives, became recurrent although there are still a number of doubts with respect to the costs and benefits of such use. Cooperatives are within an environment where uncertainty is present, together with risk, and the farming commodity production and price variation stand out. The need for effective risk management in pursuit of an optimal hedge strategy so as to maximize the tradeoff between risk and return rises from that. With respect to the methodology approach, procedures from a descriptive research by applying a questionnaire to the financial managers from the farming cooperative samples constituting this study were used. Evidences suggest that financial managers from farming cooperatives manage their exchange rate exposure with derivatives, followed by the interest rate of commodities and patrimony, being mostly concern on institutional factors rather than the financial-economic in spite of the Brazilian market volatility.Downloads
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