| Tekijä: | Schnabel, J. |
| Otsikko: | Real exposure to foreign currency risk |
| Lehti: | Managerial Finance
1994 : VOL. 20:8, p. 69-77 |
| Asiasana: | RISK CURRENCY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | The Adler-Dumas regression approach to foreign currency exposure measurement and hedging is examined in the presence of an uncertain domestic inflation rate. The assumption made here is that the investor is primarily concerned with the real, and not the nominal, value of the domestic currency value of his foreign currency cash flow. A revised measure of exposure, real exposure, is developed and shown to exhibit a numerical value less than that of the Adler-Dumas measure. |
SCIMA