Rachunkowość zabezpieczeń – remedium na „toksyczne opcje”?
Hedge accounting – the remedy for „toxic options”?

Summary/Abstract: The article raises the issue of the option crisis in 2008/2009 and the ability to mitigate its effects with hedge accounting. The first aim of the article is to examine if the companies facing the option crisis started to have more interest in hedge accounting. The second aim was to determine if the companies which in the year 2007 had already used hedge accounting protected themselves against purchasing „toxic” financial instruments. The research was carried out for companies from Warsaw Stock Market and the collected data were analyzed using the logit model. The results confirmed that companies that use hedge accounting buy financial instruments more carefully. Furthermore, it was proved that the number of companies using hedge accounting increased significantly at the end of the year 2008 and the main reason for this was possession of range forward contracts that did not discriminate the company.

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