search query: @author Godfrey, J. / total: 4
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| Author: | Godfrey, J. Yee, B. |
| Title: | Mining sector currency risk management strategies: responses to foreign currency accounting regulation |
| Journal: | Accounting and Business Research
1996 : SPRING, VOL. 26:3, p. 200-214 |
| Index terms: | RISK MANAGEMENT ACCOUNTING CURRENCY |
| Language: | eng |
| Abstract: | This study investigates the impact of Approved Accounting Standard ASRB 1012, Foreign Currency Translation, on the currency risk management strategies of firms in the Australian mining industry. ASRB 1012 increased the responsiveness of most mining companies' reported earnings to exchange rate movements, and it was predicted that firms would alter their capital structures in response to the increased accounting exposure. The results suggest that mining companies decreased their proportionate levels of long-term foreign debt and increased their share capital and/or reserves to mitigate the effects of the standard on their contracts. |
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