... difference in terms of the extent decision. Thus, founder family firms tend not only to hedge but also to speculate more extensively than other firms. Research limitations/implications The findings are based on medium‐sized manufacturing firms in Denmark. Originality/value This study provides...

... Emerald Group Publishing Limited 2008 Earnings Financial forecasting Denmark The notion of stock market efficiency, first introduced by Fama (1965) , has played a central role in both theoretical and empirical work on the reflection of information in stock prices. As defined...

... options Risk management Denmark Gambling has long held a certain fascination for most people. The earliest known form of gambling was a kind of dice game played with an astragalus (knucklebone). Egyptian tomb paintings dating from 3500 BC picture games played with astragali (Bernstein, 1996...