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Article: A Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Case

TitleA Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Case
Authors
Issue Date2013
PublisherJohn Wiley & Sons, Inc. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0270-7314/
Citation
Journal Of Futures Markets, 2013, v. 33 n. 12, p. 1191-1196 How to Cite?
AbstractThis study examines the behavior of an exporting firm that exports to two foreign countries, each of which has its own currency. Hedging is imperfect in that the firm can only trade one of the two foreign currencies forward. Compared to the case wherein hedging is perfect in that both foreign currencies can be traded forward, the firm is shown to produce less in the home country. Furthermore, the firm is shown to export more (less) to the foreign country whose currency can (cannot) be traded forward. The firm's optimal forward position is an over-hedge or an under-hedge, depending on whether the spot exchange rates are positively or negatively correlated in the sense of expectation dependence, respectively. © 2012 Wiley Periodicals, Inc.
Persistent Identifierhttp://hdl.handle.net/10722/177812
ISSN
2015 Impact Factor: 0.698
2015 SCImago Journal Rankings: 0.520
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorWong, KPen_US
dc.date.accessioned2012-12-19T09:39:59Z-
dc.date.available2012-12-19T09:39:59Z-
dc.date.issued2013en_US
dc.identifier.citationJournal Of Futures Markets, 2013, v. 33 n. 12, p. 1191-1196en_US
dc.identifier.issn0270-7314en_US
dc.identifier.urihttp://hdl.handle.net/10722/177812-
dc.description.abstractThis study examines the behavior of an exporting firm that exports to two foreign countries, each of which has its own currency. Hedging is imperfect in that the firm can only trade one of the two foreign currencies forward. Compared to the case wherein hedging is perfect in that both foreign currencies can be traded forward, the firm is shown to produce less in the home country. Furthermore, the firm is shown to export more (less) to the foreign country whose currency can (cannot) be traded forward. The firm's optimal forward position is an over-hedge or an under-hedge, depending on whether the spot exchange rates are positively or negatively correlated in the sense of expectation dependence, respectively. © 2012 Wiley Periodicals, Inc.en_US
dc.languageengen_US
dc.publisherJohn Wiley & Sons, Inc. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0270-7314/en_US
dc.relation.ispartofJournal of Futures Marketsen_US
dc.titleA Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Caseen_US
dc.typeArticleen_US
dc.identifier.emailWong, KP: kpwongc@hkucc.hku.hken_US
dc.identifier.authorityWong, KP=rp01112en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.1002/fut.21584en_US
dc.identifier.scopuseid_2-s2.0-84885172875en_US
dc.identifier.hkuros226663-
dc.identifier.isiWOS:000325349600005-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridWong, KP=7404759417en_US

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