Moreover, the incentive structure appears to be such that the decision to hedge when not necessary is much more forgivable than not hedging when one should have.

• 公司发现依靠增加生产能力，提高客户服务等，有效的增加利润非常困难，但企业高管们不愿意在货币方面冒看上去无异于赌博的险来增加收益。