Abstract This paper provides a review of research on financial derivatives, with an emphasis on and comprehensive coverage of research published in 15 top accounting journals from 1996 to 2017. We begin with some brief institutional details about derivatives and then summarize studies explaining when and why firms use derivatives. We then discuss the evolution of the accounting rules related to derivatives (and associated disclosure requirements) and studies that examine changes in these requirements over the years. Next, we review the literature that examines the consequences of firms’ derivative use to various capital market participants (i.e., managers, analysts, investors, boards of directors, etc.), with an emphasis on the role that the accounting and disclosure rules play in such consequences. Finally, we discuss the importance of industry affiliation on firms’ derivative use and the role that industry affiliation plays in derivatives research. Overall, our review suggests that, perhaps due to their inherent complexity and data limitations, derivatives are relatively understudied in accounting, and we highlight several areas where future research is needed.

中文翻译：

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会计衍生研究综述及对未来工作的建议

摘要本文概述了金融衍生产品的研究，重点是对1996年至2017年在15种顶级会计期刊上发表的研究进行了全面报道。我们首先简要介绍了有关衍生工具的机构详细信息，然后总结了解释何时，为什么公司的研究。使用衍生工具。然后，我们讨论与衍生工具（和相关的披露要求）有关的会计规则的演变，并研究这些年来这些要求的变化。接下来，我们回顾一下文献，这些文献研究了企业对衍生品的使用对各种资本市场参与者（即经理，分析师，投资者，董事会等）的影响，并着重于会计和披露规则的作用。在这样的后果。最后，我们讨论行业从属关系对公司衍生产品使用的重要性以及行业从属关系在衍生产品研究中的作用。总体而言，我们的评论表明，也许由于其固有的复杂性和数据局限性，对会计衍生工具的研究相对较少，因此我们重点介绍了需要进一步研究的几个领域。