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Disclosures and reporting of financial derivatives : Evidence from Australia’s S&P/ASX 50 listed firms
Ciro, Tony Terzioglu, Bulend
Ciro, Tony
Terzioglu, Bulend
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Abstract
In the immediate aftermath of the global financial crisis (GFC) the use of complex financial derivatives in the form of residential mortgage backed securities and collaterised debt obligation securities attracted widespread regulatory attention. The link between the genesis of the crisis and complex financial instruments was established through a number of important inquiries both in the US and elsewhere, including in Australia. The use of financial derivatives by Australian entities had also become quite prominent during the GFC. This article presents an empirical snapshot of the use of financial derivatives by the top 50 listed entities on the Australian Securities Exchange in the immediate aftermath of the GFC. It also provides a time comparison from 2007 through to 2016 with the aim of shedding light on the different types, nature, scope and risks attached to the use of financial derivatives by Australia's S&P/ASX 50 listed entities by market capitalisation.
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Date
2018
Type
Journal article
Journal
Journal of Banking and Finance: Law and Practice
Book
Volume
29
Issue
Page Range
92-108
Article Number
ACU Department
Thomas More Law School
Faculty of Law and Business
Peter Faber Business School
Faculty of Law and Business
Peter Faber Business School
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All rights reserved
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