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Financial Risk Management, Usage of Derivatives and Corporate Governance

Table 1:

Panel A
Variables Observations Mean Std. Dev. Min Max
Directors, Remuneration (RM’) 100 12,888,342 23,786,187 63,000 156,400,000
CEO shareholdings (%) 100 4.96309 13.45788 0 68.5
Board Independence 100 .4669375 .1022057 .3 .75
Family Ownership (%) 100 6.03834 14.91121 0 68.5
Direct Shareholdings of D Directors 100 2.17543 7.71394 0 57
Indirect Shareholdings of Directors 100 6.95704 15.7892 0 68.5
Return on Assets 100 .093924 .0986136 -.1042 .6959
Firm size (Total assets) (RM) 100 11,132,632.85 17,193,765.9329 139,777 110,650,200
Debt Ratio 100 24.46997 17.07878 0 63.01888
Growth Opportunities 100 3.9327 7.204319 .46 56.2
Panel B
Variables Observations Dummy = 1 Dummy = 0
Derivatives Usage 100 56 44
Audit Quality (1= Big4) 100 90 10
Presence of Female Directors 100 67 33
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