Gold loans: capital structure and hedging incentives

Wai, Nicholas (1993). Gold loans: capital structure and hedging incentives Honours Thesis, , The University of Queensland.

       
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Author Wai, Nicholas
Thesis Title Gold loans: capital structure and hedging incentives
Institution The University of Queensland
Publication date 1993
Thesis type Honours Thesis
Total pages 73
Language eng
Subjects 14 Economics
Formatted abstract Gold loan was a popular form of project financing for gold mining firms in Australia during the late 1980s. Its attractiveness lied in its• natural hedging capability. This unique combination of debt and hedge provided a unique opportunity in combining capital structure and hedging theories. The main hypothesis proposed in this thesis was that gold loans enabled firms to maintain a higher level of leverage than that predicted by the capital structure theory. Empirical results found by comparing gold loan firms and non gold loan firms confirmed the hypothesised effect.

 
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Created: Tue, 04 Jan 2011, 10:02:53 EST by Ning Jing on behalf of Social Sciences and Humanities Library Service