Exchange rate risk management: What can we learn from financial crises?

Li Huei Lan, Chang Chih Chen, Shuang Shii Chuang

研究成果: Article同行評審

6 引文 斯高帕斯(Scopus)

摘要

Since most present studies on exchange rate risk have pointed out that it does exist, firms need to hedge all currencies in use. However, by examining the discrepancy between cost-side and revenue-side exposures across two major financial crises for Taiwanese firms, we find that the exposure mainly comes from the revenue side during the subprime crisis, while that comes from the cost side during the Asian crisis. Our results offer an applicable implication that as long as the cost-based or revenue-based hedging strategy can acquire same hedging benefit and effectively reduce hedging cost.

原文English
頁(從 - 到)187-192
頁數6
期刊Economic Modelling
45
DOIs
出版狀態Published - 2015 二月 1

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

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