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Identifying, Measuring, And Hedging Currency Risk At Merck

Author

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  • Judy C. Lewent
  • A. John Kearney

Abstract

The authors would like to thank Francis H. Spiegel, Jr., Senior Vice President and CFO of Merck & Co., Inc., and Professors Donald Lessard of M.I.T. and Darrell Duaffie of Stanford for their guidance throughout.

Suggested Citation

  • Judy C. Lewent & A. John Kearney, 1990. "Identifying, Measuring, And Hedging Currency Risk At Merck," Journal of Applied Corporate Finance, Morgan Stanley, vol. 2(4), pages 19-28, January.
  • Handle: RePEc:bla:jacrfn:v:2:y:1990:i:4:p:19-28
    DOI: 10.1111/j.1745-6622.1990.tb00184.x
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    File URL: https://doi.org/10.1111/j.1745-6622.1990.tb00184.x
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    Cited by:

    1. Lin, Chen-Miao & Phillips, Richard D. & Smith, Stephen D., 2008. "Hedging, financing, and investment decisions: Theory and empirical tests," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1566-1582, August.
    2. Brown, Gregory W., 2001. "Managing foreign exchange risk with derivatives," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 401-448, May.
    3. Froot, Kenneth A & Scharfstein, David S & Stein, Jeremy C, 1993. "Risk Management: Coordinating Corporate Investment and Financing Policies," Journal of Finance, American Finance Association, vol. 48(5), pages 1629-1658, December.
    4. Joseph, Nathan Lael, 2000. "The choice of hedging techniques and the characteristics of UK industrial firms," Journal of Multinational Financial Management, Elsevier, vol. 10(2), pages 161-184, June.
    5. Ammon, Norbert, 1998. "Why Hedge? - A Critical Review of Theory and Empirical Evidence -," ZEW Discussion Papers 98-18, ZEW - Leibniz Centre for European Economic Research.
    6. Hong NGUYEN & Michael O. MENSAH, "undated". "An Empirical Study of the Impact of Finance on Production and Growth," EcoMod2004 330600104, EcoMod.
    7. J. Eric Bickel, 2006. "Some Determinants of Corporate Risk Aversion," Decision Analysis, INFORMS, vol. 3(4), pages 233-251, December.
    8. Bergbrant, Mikael C. & Hunter, Delroy M., 2018. "(How) do credit market conditions affect firms' post-hedging outcomes? Evidence from bank lending standards and firms' currency exposure," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 203-222.
    9. Gautier, Antoine & Granot, Frieda & Levi, Maurice, 2002. "Alternative foreign exchange management protocols: an application of sensitivity analysis," Journal of Multinational Financial Management, Elsevier, vol. 12(1), pages 1-19, February.
    10. Monda, Barbara & Giorgino, Marco & Modolin, Ileana, 2013. "Rationales for Corporate Risk Management - A Critical Literature Review," MPRA Paper 45420, University Library of Munich, Germany.
    11. repec:dau:papers:123456789/3019 is not listed on IDEAS

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