Hedging and Managing Exchange Rate and Related Macroeconomic Exposure
AbstractHedging transaction and translation exposures to exchange rate changes may increase the economic exposure of the firm and reduce the information value of firms' quarterly statements. In this paper hedging macroeconomic exposures, of which exchange rate exposure is one type, is discussed in terms of choice of macroeconomic variables for which exposures could be measured, choice of strategy for managing exposures, and choice of financial instruments for hedging different exposures.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 177.
Length: 46 pages
Date of creation: Aug 1987
Date of revision:
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Hedging; macroeconomic schocks firm strategy; financial instruments;
Find related papers by JEL classification:
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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