haku: @author Brealey, R. / yhteensä: 2
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| Tekijä: | Brealey, R. Kaplanis, E. |
| Otsikko: | Discrete exchange rate hedging strategies |
| Lehti: | Journal of Banking and Finance
1995 : AUG, VOL. 19:5, p. 765-784 |
| Asiasana: | EXCHANGE RATES HEDGING STRATEGY |
| Kieli: | eng |
| Tiivistelmä: | In this paper the authors compare the effect of alternative currency hedging strategies on the variance of the terminal value of the firm. The main focus is on the time at which the hedge is put down and the frequency with which it is adjusted. They show that commonly used strategies, such as one-period cash flow hedges and long-term fixed hedges may leave the firm very exposed to foreign exchange risk. One possible explanation for the popularity of one-period cash flow hedges is that the firm may shift its operations in response to an exchange rate change. |
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