haku: @indexterm EXPORTS / yhteensä: 963
viite: 280 / 963
| Tekijä: | Adam-Müller, A. F. A. |
| Otsikko: | Export and hedging decisions under revenue and exchange rate risk: A note |
| Lehti: | European Economic Review
1997 : JUL, VOL. 41:7, p. 1421-1426 |
| Asiasana: | EXPORTS EXCHANGE RATES RISK HEDGING REVENUE DECISION MAKING |
| Kieli: | eng |
| Tiivistelmä: | The note analyzes optimal export and hedging decisions taken by a risk-averse exporting firm which at the same time faces hedgeable exchange rate risk and non-hedgeable revenue risk abroad. The separation property does not hold, exports depend on expectations and preferences. The firm is caused to export less due to revenue uncertainty. The optimal currency forward position can be divided into three components: a speculative component, an expected revenue one and a revenue uncertainty component. |
SCIMA