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Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium
European Financial Management, 2009Abstract This paper compares the effect on firm value of different foreign currency (FC) financial hedging strategies identified by type of exposure (short‐ or long‐term) and type of instrument (forwards, options, swaps and foreign currency debt). We find that hedging instruments depend on the type of exposure.
Ephraim Clark
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2018
Foreign currency translation is used to convert the results of a parent company’s foreign subsidiaries to its reporting currency. This is a key step in the consolidation of financial statement. The functional currency in which a business reports its financial results should rarely change.
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Foreign currency translation is used to convert the results of a parent company’s foreign subsidiaries to its reporting currency. This is a key step in the consolidation of financial statement. The functional currency in which a business reports its financial results should rarely change.
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SSRN Electronic Journal, 2010
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Jarrow, Robert A., Protter, Philip
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zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Jarrow, Robert A., Protter, Philip
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Foreign Currency Pricing [PDF]
Journal of Money, Credit, and Banking, 2006 A special case of dollarization is analyzed: quotation of prices in dollars. The proposed explanation is price stickiness: when price adjustment is costly, firms prefer to fix their prices in a stable foreign currency in order to avoid frequent price changes.The proposed model demonstrates that there are often two Nash equilibria in an economy ...
Levina, Irina, Zamulin, Oleg
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Local Currency or Foreign Currency Debt?
Revue économique, 2003Nous nous demandons s’il est avantageux pour un pays emergent que sa dette (publique et privee, domestique et exterieure) soit en devises (en dollars) et non en monnaie nationale. Nous introduisons la possibilite que les autorites choisissent de devaluer si la situation economique se degrade.
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Harnessing the Global Foreign Currency Market: Proposal for a Foreign Currency Exchange
Review of International Political Economy, 1995Abstract The global foreign exchange market, with a turnover of over $1 trillion daily, is the world's largest and most liquid financial market. It has certain inefficiencies, however, being actually a two‐tier market ‐ a competitive interbank market and a publicly quoted captive market of end users. Creating a foreign currency exchange (EXE), to serve
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Foreign Currency Debt and Disagreement
The Economic JournalAbstract This paper highlights the disagreement channel of corporate foreign currency borrowing. In our model, if domestic agents have better information than foreign lenders on the state of the economy, foreign currency borrowing might arise if the fundamentals are strong relative to what public signals suggest to foreigners.
Merrouche, Ouarda +2 more
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The hedging performance of foreign currency options and foreign currency futures: a comparison
1984This paper is concerned with an empirical comparison of the hedging effectiveness of currency options and currency futures contracts, when each instrument is used to hedge against variations in the exchange rate o f the spot currency. The results of the paper indicate that if the hedger were interested in minimizing risk alone, futures con tracts ...
Shanker, Latha +2 more
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1984
The rising level of international trade and investment in recent years means that companies are becoming increasingly exposed to foreign exchange risks, arising from two distinct sources:- (a) foreign currency transactions (such as sales and purchases giving rise to debtors and creditors, or the lending and borrowing of funds), whose home ...
S. J. Gray, L. G. Campbell, J. C. Shaw
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The rising level of international trade and investment in recent years means that companies are becoming increasingly exposed to foreign exchange risks, arising from two distinct sources:- (a) foreign currency transactions (such as sales and purchases giving rise to debtors and creditors, or the lending and borrowing of funds), whose home ...
S. J. Gray, L. G. Campbell, J. C. Shaw
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1999
A company may enter into foreign currency activities in two main ways: (a) it may enter directly into transactions denominated in a foreign currency; and (b) it may operate through an investment in a foreign enterprise which maintains its accounting records in a foreign currency.
Ken Wild, Brian Creighton
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A company may enter into foreign currency activities in two main ways: (a) it may enter directly into transactions denominated in a foreign currency; and (b) it may operate through an investment in a foreign enterprise which maintains its accounting records in a foreign currency.
Ken Wild, Brian Creighton
openaire +1 more source