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Thai Hedging Practices Post-Asian Financial Crisis

Author

Listed:
  • Terry Boulter

    (Deakin Graduate School of Business, Deakin University, Australia)

  • Vanlapa Wongchan

    (Department of Finance and Banking, Payap University, Chiang Mai 50000, Thailand)

Abstract

This paper provides survey evidence captured from a sample of 113 respondents to a 2008 questionnaire sent to 344 companies in Thailand. The study examines Thai hedging practices following the Asian Financial Crisis of 1997. Thai companies, like their international counterparts, rely predominantly on matching and forward contracts to hedge transaction exposure. Thai companies, however, appear to be less rigorous when it comes to internal control and supervision of derivative activity. It is recommended that Thai companies improve their risk management practices by putting into place a documented hedging policy, which includes a requirement that senior staff be actively engaged in the risk management activities of the firm.

Suggested Citation

  • Terry Boulter & Vanlapa Wongchan, 2013. "Thai Hedging Practices Post-Asian Financial Crisis," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 16(01), pages 1-21.
    • Handle: RePEc:wsi:rpbfmp:v:16:y:2013:i:01:n:s0219091513500033
    DOI: 10.1142/S0219091513500033
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    Citations

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    Cited by:

    1. Benjamin Mögel & Benjamin R. Auer, 2018. "How accurate are modern Value-at-Risk estimators derived from extreme value theory?," Review of Quantitative Finance and Accounting, Springer, vol. 50(4), pages 979-1030, May.

    More about this item

    Keywords

    Foreign exchange; multinational firms; international business; financial risk and risk management; F31; F23; G32;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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