Currency and Interest-Rate Derivatives Use in US Firms
基于451家财富500强/标普500公司和461家随机公司样本，发现超过61%的FSP公司和36%的随机公司使用衍生品，其中掉期是最常用的利率合约，远期和期货是最常用的货币合约，且使用决定因素与理论基本一致。
This study examines derivatives use in samples of 451 Fortune 500/S&P 500 (FSP) firms and 461 randomly selected firms. We find that over 61% of the FSP firms and 36% of the random firms use derivatives. In both samples, swaps are the most often used interest-rate contract, and forwards and futures the most often used currency contract. The determinants of derivatives use differ across samples and definitions of derivatives use, and are largely consistent with theory. One exception is that the random firms' derivatives use and the theoretical determinants are not strongly related.