HOW DOES THE USE OF DERIVATIVES AFFECT FIRMS’ FINANCIAL PERFORMANCE IN TURKISH NON-LIFE INSURANCE INDUSTRY?

However, due to the ever-changing conditions in financial markets, these instruments have further been used for speculative purposes and arbitrage opportunities. Nevertheless, this paper focuses on influence of derivative usage hedging profitability firms Turkish nonlife insurance industry. The data consists 25 non-life companies operating Turkey from 2009 2019, inclusive. findings based panel analysis reveal that contributes firms’ performance measured by return assets (ROA) use derivatives demonstrate a 5% higher ROA figure comparison non-users.