Hedging w zarządzaniu ryzykiem finansowym w korporacjach transnarodowych przemysłu wydobywczego
Hedging in the Financial Risk Management of Transnational Corporation in Mining Industry

Summary/Abstract: The high changeability of natural resources market prices and their high production cost caused that the transnational companies which exploited and processed them generally use different secured means against risk, which is connected with it i.e. financial risk. This risk consists of commodity price risk, exchange rate risk, interest risk, credit risk, liquidity risk and capital risk. Three first mentioned risks are called market riska are most often secured with the help of the hedge and non‑hedge instruments and a natural hedge. An attitude to them was based on their effectiveness and costs and was substantially diverse in the individual corporations of the mining industry, what had influence on the extent of their compliance. It was the general tendency that in the period of a bad economic situation and low market prices penchant for the use of hedging and it’s extent were significantly greater than in a period of a boom in the market.

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