profit oriented. They may be well insulated from shareholder pressure by poison pill anti takeover defenses, for example. As Geczy notes, companies that speculate seem to be ones where shareholders don have as much power. It basically stronger managers stronger, confident management that thinks it can make money. However, this in no way means they are successful. As to whether there is more speculation going on now than in years past, is quite hard to say, notes Geczy. actually did a follow up survey of respondents from the first survey and found that some firms moved from speculating to not speculating at all and, in fact, remarked that they didn feel speculation added much value net of its risk. Others went from not speculating to speculating with the expectation of making a profit. So we see transitions in both directions. What is clear, however, is that shareholders are generally in the dark about derivatives speculation. important aspect of this study is that we are able to assess whether investors, using
Football fans warm up for Fifa U Hamiltonians had a taste of what’s to come in the Fifa Under 20 World Cup by turning out to watchNew Zealand’s top young footballers take on their Qatar counterparts at Waikato Stadium. The free Fifa Under 20 World Cup warm up match attracted a crowd of several hundred of young football fans and their parents, filling a quarter of the seats in the Brian Perry stand. About a dozen eager children lined either side of the player’s entrance for a chance to catch a glimpse, and perhaps a high five, of the teams as they ran onto the field. Many squealed in excitement as
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