Ein Analyseraster zur Bestimmung langfristiger Wechselkursrisiken von Unternehmen dargestellt am Beispiel der US-Dollar-Abwertung
Abstract
The US-Dollar has depreciated noticeably since the beginning of the year 2006. This depreciation changes the competitiveness of nations and corporations. This paper briefly presents the related exchange rate risks. Subsequently, the operating exposure is discussed, as this is the relevant foreign exchange risk in the long-term. A related issue in corporate risk management is to identify and quantify exchange rate risks. In this context a short guideline proposes an applied 3-step analysis. This DIR-Analysis investigates: direct exposures, indirect exposures and enterprise responses to changed fx-rates.Download Info
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Paper provided by Duesseldorf University of Applied Sciences in its series Duesseldorf Working Papers in Applied Management and Economics with number fobe02.Length: 19 pages
Date of creation: Mar 2008
Date of revision:
Publication status: Published in Forschungsberichte des Fachbereichs Wirtschaft der Fachhochschule Duesseldorf ; 2008,2 ; ISSN 1866-2722
Handle: RePEc:ddf:wpaper:fobe02
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Related research
Keywords: ökonomisches Wechselkursrisiko; ökonomisches Währungsrisiko; Unternehmensplanung; Risikomanagement; Euro; operating exporsure; foreign exchange risk; corporate planning; hedging; simulation;Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-01-10 (All new papers)
- NEP-MAC-2009-01-10 (Macroeconomics)
- NEP-RMG-2009-01-10 (Risk Management)
References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John J. Pringle, 1991. "Managing Foreign Exchange Exposure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 3(4), pages 73-82.
- John J. Pringle & Robert A. Connolly, 1993. "The Nature And Causes Of Foreign Currency Exposure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(3), pages 61-72.
- Bartram, Söhnke M. & Brown, Gregory W. & Minton, Bernadette A., 2010.
"Resolving the exposure puzzle: The many facets of exchange rate exposure,"
Journal of Financial Economics,
Elsevier, vol. 95(2), pages 148-173, February.
- Bartram, Söhnke M. & Brown, Gregory W. & Minton, Bernadette, 2009. "Resolving the Exposure Puzzle: The Many Facets of Exchange Rate Exposure," MPRA Paper 14041, University Library of Munich, Germany.
- Richard Friberg & Mattias Ganslandt, 2007. "Exchange Rates and Cash Flows in Differentiated Product Industries: A Simulation Approach," Journal of Finance, American Finance Association, vol. 62(5), pages 2475-2502, October.
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