{"id":"https://openalex.org/W2071655166","doi":"https://doi.org/10.1108/18347640710837344","title":"An examination of Australian gold mining firms\u2019 exposure over the collapse of gold price in the late 1990s","display_name":"An examination of Australian gold mining firms\u2019 exposure over the collapse of gold price in the late 1990s","publication_year":2007,"publication_date":"2007-05-31","ids":{"openalex":"https://openalex.org/W2071655166","doi":"https://doi.org/10.1108/18347640710837344","mag":"2071655166"},"language":"en","primary_location":{"id":"doi:10.1108/18347640710837344","doi":"https://doi.org/10.1108/18347640710837344","is_oa":false,"landing_page_url":"https://doi.org/10.1108/18347640710837344","pdf_url":null,"source":{"id":"https://openalex.org/S86375777","display_name":"International Journal of Accounting and Information Management","issn_l":"1758-9037","issn":["1758-9037","1834-7649"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Accounting &amp; Information Management","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5058738700","display_name":"Victor Fang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I56590836","display_name":"Monash University","ror":"https://ror.org/02bfwt286","country_code":"AU","type":"education","lineage":["https://openalex.org/I56590836"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Victor Fang","raw_affiliation_strings":["Department of Accounting and Finance, Monash University, Caulfield, Australia","Dept of Accounting and Finance, Monash University, Caulfield, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting and Finance, Monash University, Caulfield, Australia","institution_ids":["https://openalex.org/I56590836"]},{"raw_affiliation_string":"Dept of Accounting and Finance, Monash University, Caulfield, Australia","institution_ids":["https://openalex.org/I56590836"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5111423009","display_name":"Chien\u2010Ting Lin","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I170239107","display_name":"University of South Australia","ror":"https://ror.org/01p93h210","country_code":"AU","type":"education","lineage":["https://openalex.org/I170239107","https://openalex.org/I4405259444"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Chien\u2010Ting Lin","raw_affiliation_strings":["","International Graduate School of Management, Division of Business and Enterprise, University of South Australia, Adelaide, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"","institution_ids":[]},{"raw_affiliation_string":"International Graduate School of Management, Division of Business and Enterprise, University of South Australia, Adelaide, Australia","institution_ids":["https://openalex.org/I170239107"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5013318388","display_name":"Warren Poon","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I56590836","display_name":"Monash University","ror":"https://ror.org/02bfwt286","country_code":"AU","type":"education","lineage":["https://openalex.org/I56590836"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Warren Poon","raw_affiliation_strings":["Department of Accounting and Finance, Monash University, Caulfield, Australia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting and Finance, Monash University, Caulfield, Australia","institution_ids":["https://openalex.org/I56590836"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.1543,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.91209225,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"15","issue":"2","first_page":"37","last_page":"49"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.7914999723434448,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.7914999723434448,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.13210000097751617,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.04010000079870224,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/hedging-behavior","display_name":"hedging behavior","score":0.7829999923706055},{"id":"https://openalex.org/keywords/gold-reserves","display_name":"gold reserves","score":0.7699999809265137},{"id":"https://openalex.org/keywords/gold-price-volatility","display_name":"gold price volatility","score":0.5630000233650208},{"id":"https://openalex.org/keywords/foreign-exchange-risk","display_name":"exchange rate risk","score":0.6610000133514404},{"id":"https://openalex.org/keywords/risk-management","display_name":"risk management","score":0.5600000023841858}],"concepts":[{"id":"https://openalex.org/C109168655","wikidata":"https://www.wikidata.org/wiki/Q242988","display_name":"Liberian dollar","level":2,"score":0.6079234480857849},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.580231249332428},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.5317113995552063},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5183054804801941},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5163499116897583},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4850413203239441},{"id":"https://openalex.org/C11039479","wikidata":"https://www.wikidata.org/wiki/Q791975","display_name":"Gold as an investment","level":2,"score":0.4532836079597473},{"id":"https://openalex.org/C3019931467","wikidata":"https://www.wikidata.org/wiki/Q4917","display_name":"Us dollar","level":3,"score":0.4215571880340576},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.36351296305656433},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.3291657567024231},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.18546953797340393},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/18347640710837344","doi":"https://doi.org/10.1108/18347640710837344","is_oa":false,"landing_page_url":"https://doi.org/10.1108/18347640710837344","pdf_url":null,"source":{"id":"https://openalex.org/S86375777","display_name":"International Journal of Accounting and Information Management","issn_l":"1758-9037","issn":["1758-9037","1834-7649"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Accounting &amp; Information Management","raw_type":"journal-article"},{"id":"pmh:oai:digital.library.adelaide.edu.au:2440/45597","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/2440/45597","pdf_url":null,"source":{"id":"https://openalex.org/S4306401835","display_name":"Adelaide Research & Scholarship (AR&S) (University of Adelaide)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I5681781","host_organization_name":"The University of Adelaide","host_organization_lineage":["https://openalex.org/I5681781"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.emeraldinsight.com/10.1108/18347640710837344","raw_type":"Journal article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":17,"referenced_works":["https://openalex.org/W1567560599","https://openalex.org/W1984272629","https://openalex.org/W1989254678","https://openalex.org/W2020295374","https://openalex.org/W2023223129","https://openalex.org/W2043619364","https://openalex.org/W2053882581","https://openalex.org/W2083522249","https://openalex.org/W2096318361","https://openalex.org/W2126258480","https://openalex.org/W2136582490","https://openalex.org/W2142908655","https://openalex.org/W2165940340","https://openalex.org/W2169289906","https://openalex.org/W2170554748","https://openalex.org/W3145359916","https://openalex.org/W4206322087"],"related_works":["https://openalex.org/W2117956395","https://openalex.org/W3123063490","https://openalex.org/W2143782047","https://openalex.org/W2169289906","https://openalex.org/W134720053","https://openalex.org/W4247207381","https://openalex.org/W2054431931","https://openalex.org/W2253433410","https://openalex.org/W2774000268","https://openalex.org/W2096318361"],"abstract_inverted_index":{"Purpose":[0],"The":[1,152,225,273],"purpose":[2],"of":[3,11,40,122,127,158,170,237,261,295,315,329,332,340],"this":[4],"study":[5,313],"is":[6,92,104,117,134,143,234,247,314],"to":[7,23,37,50,58,174,205,268,299,307,319],"examine":[8],"the":[9,17,47,72,93,96,105,118,135,144,156,167,235,277,293,304,320,327,330,337],"exposures":[10],"Australian":[12,123],"gold":[13,34,41,63,68,97,106,159,175,184,200,208,222,244,263,271,296,308,333,341],"mining":[14,185,322,342],"firms":[15,351],"in":[16,33,110,125,192,199,221,270,355],"highly":[18],"volatile":[19],"period":[20,26],"from":[21,195],"1995":[22],"2000.":[24],"This":[25,178,246,312],"has":[27,344],"been":[28],"characterized":[29],"by":[30,42],"significant":[31,219,345],"changes":[32,220],"price":[35,107,176,201,223,309,334],"due":[36],"bulk":[38],"sale":[39],"collective":[43],"central":[44],"banks.":[45],"Specifically,":[46],"paper":[48,153],"aims":[49],"investigate":[51],"several":[52],"firm\u2010specific":[53],"factors":[54],"that":[55,155,181,231,254,281],"are":[56,161,265],"hypothesized":[57],"carry":[59],"substantial":[60],"influence":[61,300],"on":[62,95,241,303,336,347],"beta.":[64],"Design/methodology/approach":[65],"To":[66],"estimate":[67],"beta,":[69],"we":[70,232],"use":[71],"following":[73],"multifactor":[74],"model:":[75],"Rg,t":[76,91],"=":[77],"\u03b1":[78],"+":[79,82,85,88],"\u03b2g":[80],"GPRt":[81,103],"\u03b2x":[83],"FXRt":[84,116],"\u03b2m":[86],"Rm,t":[87,133],"\u03b5t,":[89],"where":[90],"return":[94,108,121,137],"stock":[98,172,186,193,321,338],"Index":[99],"at":[100,113,130,138,148],"time":[101,114,131,139,149,217],"t,":[102,115,132,140],"denominated":[109],"US":[111,128],"dollar":[112,124,129],"foreign":[119],"exchange":[120],"terms":[126],"market":[136],"and":[141,228,292,317,324,352,359],"\u03b5t":[142],"random":[145],"error":[146],"term":[147],"t.":[150],"Findings":[151],"finds":[154],"values":[157,212],"beta":[160],"consistently":[162],"greater":[163,259],"than":[164],"one,":[165],"implying":[166],"sensitive":[168,267],"nature":[169],"firms\u2019":[171,238,305],"returns":[173,194,339,348],"changes.":[177,310],"also":[179],"suggests":[180],"investors":[182,206,325,353],"holding":[183,207],"would":[187],"receive":[188],"higher":[189],"percentage":[190,197],"increases":[191,283],"a":[196,258],"increase":[198],"returns,":[202],"as":[203],"opposed":[204],"bullion.":[209],"Furthermore,":[210],"these":[211],"have":[213],"changed":[214],"substantially":[215],"over":[216],"with":[218,249],"volatility.":[224],"most":[226],"important":[227,318],"consistent":[229,248],"relationship":[230],"find":[233],"impact":[236],"hedging":[239,282],"behavior":[240],"their":[242,262,356],"respective":[243],"betas.":[245],"Tufano's":[250],"study.":[251],"It":[252],"implies":[253],"firms,":[255],"which":[256],"hedge":[257],"proportion":[260],"reserves,":[264],"less":[266],"movements":[269,335],"prices.":[272],"finding":[274],"therefore":[275],"supports":[276],"risk":[278,357],"management":[279,358],"theory":[280],"shareholder's":[284],"wealth.":[285],"However,":[286],"cash":[287,290],"operating":[288],"costs,":[289],"reserves":[291],"level":[294],"production":[297],"seem":[298],"very":[301],"little":[302],"exposure":[306],"Originality/value":[311],"interest":[316],"companies":[323,343],"because":[326],"extent":[328],"effect":[331],"impacts":[346],"for":[349],"both":[350],"especially":[354],"investment":[360],"decisions,":[361],"respectively.":[362]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-09-21T07:43:02.447757","created_date":"2016-06-24T00:00:00"}
