Please use this identifier to cite or link to this item:
http://hdl.handle.net/10397/94424
DC Field | Value | Language |
---|---|---|
dc.contributor | School of Accounting and Finance | en_US |
dc.contributor | Department of Logistics and Maritime Studies | en_US |
dc.creator | Qiu, L | en_US |
dc.creator | Liu, R | en_US |
dc.creator | Jin, Y | en_US |
dc.creator | Ding, C | en_US |
dc.creator | Fan, Y | en_US |
dc.creator | Yeung, ACL | en_US |
dc.date.accessioned | 2022-08-17T10:01:11Z | - |
dc.date.available | 2022-08-17T10:01:11Z | - |
dc.identifier.issn | 1059-1478 | en_US |
dc.identifier.uri | http://hdl.handle.net/10397/94424 | - |
dc.language.iso | en | en_US |
dc.publisher | Wiley-Blackwell | en_US |
dc.rights | © 2022 Production and Operations Management Society. | en_US |
dc.rights | This is the peer reviewed version of the following article: Qiu, L., Liu, R., Jin, Y., Ding, C., Fan, Y., & Yeung, A. C. L. (2022). Impact of credit default swaps on firms’ operational efficiency. Production and Operations Management, 31, 3611– 3631, which has been published in final form at https://doi.org/10.1111/poms.13788. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited. | en_US |
dc.subject | Credit default swaps | en_US |
dc.subject | Financial innovations | en_US |
dc.subject | Institutional monitoring | en_US |
dc.subject | Operational efficiency | en_US |
dc.subject | Supply chain finance | en_US |
dc.title | Impact of credit default swaps on firms’ operational efficiency | en_US |
dc.type | Journal/Magazine Article | en_US |
dc.identifier.spage | 3611 | en_US |
dc.identifier.epage | 3631 | en_US |
dc.identifier.volume | 31 | en_US |
dc.identifier.issue | 9 | en_US |
dc.identifier.doi | 10.1111/poms.13788 | en_US |
dcterms.abstract | As one of the most important financial innovations in the last two decades, credit default swap (CDS) contracts have been initiated and actively traded in the market to hedge against credit risks. However, little is known about how these financial innovations affect an underlying firm’s operations. In this empirical study, we find that an underlying firm’s operational efficiency is significantly improved with the inception of CDS trading. Our results are robust to multiple causal identification strategies. Further analysis suggests that the inception of CDS tends to enhance the operational efficiency of a firm through the supply chain financing capability and trade credit. We also postulate that CDS leads to enhanced efficiency through institutional monitoring and improvements in management effectiveness. We then obtain suggestive evidence. Our findings have direct implications concerning the ongoing policy debate surrounding CDS. We contribute to operations management research by exploring how innovations in the financial market would, in turn, affect the operational performance of firms. | en_US |
dcterms.accessRights | open access | en_US |
dcterms.bibliographicCitation | Production and operations management, Sept. 2022, v. 31, no. 9, p. 3611-3631 | en_US |
dcterms.isPartOf | Production and operations management | en_US |
dcterms.issued | 2022-09 | - |
dc.identifier.scopus | 2-s2.0-85135504891 | - |
dc.identifier.eissn | 1937-5956 | en_US |
dc.description.validate | 202208 bckw | en_US |
dc.description.oa | Accepted Manuscript | en_US |
dc.identifier.FolderNumber | a1488 | - |
dc.identifier.SubFormID | 45138 | - |
dc.description.fundingSource | RGC | en_US |
dc.description.fundingSource | Others | en_US |
dc.description.fundingText | The Hong Kong Polytechnic University | en_US |
dc.description.pubStatus | Published | en_US |
dc.description.oaCategory | Green (AAM) | en_US |
Appears in Collections: | Journal/Magazine Article |
Files in This Item:
File | Description | Size | Format | |
---|---|---|---|---|
Qiu_Credit_Firms_Operational.pdf | Pre-Published version | 1.14 MB | Adobe PDF | View/Open |
Page views
227
Last Week
0
0
Last month
19
19
Citations as of Dec 28, 2022
Google ScholarTM
Check
Altmetric
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.