Global Journal of Economic and Finance Research Vol. 01(01): 01-08, March 2024 Home Page: https://gjefr.com/index.php/gjefr ISSN(e): Applied ISSN (p): Applied pg. 1 Corporate Risk Management Strategies and Market Value of Quoted Manufacturing Firms in Nigeria Dr. Marshal Iwedi Department of Finance, Faculty of Administration and Management Rivers State University, Nkpolu-Oroworukwo, Port Harcourt. KEYWORDS: Corporate risk management, quoted companies, hedging instruments, market value, hedging theory Corresponding Author: Dr. Marshal Iwedi License: This is an open access article under the CC BY 4.0 license: https://creativecommons.org/licenses/by/4.0/ ABSTRACT This study investigates the impact of corporate risk management strategies on quoted companies in Nigeria, focusing on hedging instruments such as forward contracts, futures contracts, options contracts, and swap contracts. The research aims to analyze how these tools influence a company's market value, contributing to our understanding of their role in shaping financial stability and market perception. Grounded in established hedging theory, the study utilizes a robust data analysis methodology, including fixed effects, random effects, Hausman test, and ordinary least squares (OLS) estimation. Various statistical tests, such as T-statistic, F-test, Durbin Watson test, and corrected R-square, assess variable significance and overall regression validity. The analysis reveals a noteworthy negative correlation between forward contracts and market value, suggesting that an increased reliance on forward contracts is associated with a decrease in market valuation, prompting questions about their efficacy in enhancing market value. In contrast, futures contracts show no significant relationship with market value, emphasizing their role in managing price volatility and ensuring supply chain stability. Options contracts yield mixed results, indicating their complex nature and the need for comprehensive investigation. Conversely, swap contracts consistently demonstrate a significant positive relationship with market value, highlighting their potential as highly effective risk management tools. Based on the findings, the study recommends that firms adopt diversified hedging strategies, conduct thorough risk assessments, strategically employ options contracts, maximize the use of swap contracts, engage in continuous monitoring and adaptation, implement integrated risk management frameworks, collaborate with experts, and maintain a long-term perspective in their risk management strategies. 1. INTRODUCTION Effective business management involves navigating various risks, stemming from both internal and external factors such as socio- economic shifts, political unrest, and technological disruptions. Non-financial firms, especially those in the manufacturing sector, are increasingly exposed to risks like foreign exchange fluctuations, interest rate changes, market uncertainties, liquidity challenges, and price volatility. While it's impossible to eliminate these risks entirely, firms can reduce the probability of losses by implementing strategic changes related to risk factors. In the contemporary environment, the need for business entities to effectively manage these risks has become paramount. Corporate hedging has emerged as a critical aspect of risk management, particularly for non-financial firms. Scholars like Pandey (2004) emphasize that the essence of risk management isn't to eradicate inherent risks but to mitigate them.