Laboratoire d'Economie et de Finance Appliquée (LEFA), IHEC Carthage, Tunisia, Laboratory of Actuarial and Financial Sciences (SAF, EA2429), Institute of Financial and Insurance Sciences, University Claude Bernard Lyon 1, University of Lyon, France. mrkeffala@yahoo.fr
Online published on 15 February, 2019.
Considering banks from both emerging and recently developed countries -during the period 2003-Received 19.2.2014 2009 -we aim to investigate the effect of derivatives use on stock returns. Our finding rejects usual Accepted 24.3.2014 hypothesis by showing a negative effect of derivatives on performance. The main conclusion rejects the thesis stipulating that derivatives are beneficial for banks
Derivatives Banks Stock Returns Emerging Countries Panel Econometrics
