The effects of the derivative instruments' usage on financial performances of commercial enterprises

All evolutions and mutations in financial markets have changed paralelly with global economic and financial arrangements throughout the history. Easyness, speedness and accessibility have created borderless economies. With this globalization, arbitrage and speculation opportinuties created an accessible global economy. Further more, this wideness has also created some risky positions for financial actors. Therefore, the risk management acts got more importance with every passing day. Today the risk management process named "hedging'' became one of the most important financial issue for many investors and academicians. The main aim of this research is measuring effects of using derivatives on financial performances of commercial enterprieses. For further analysis the Panel Analysis method which is suitable for analyzing both of time and section datas has been chosen. Chosen data set for statistical analysis includes datas from the year 2010 to 2014. This data set has taken from Borsa Istanbul Food Beverage Index. Findings, results and discussions are presented at the end of the paper.