Companies that submit bids denominated in foreign currency but will not be informed of the winner of the bid for some time are exposed to foreign exchange gains or losses during the bid to award period. This paper explores the use of currency put options to hedge such a bid in euros, and...

Purpose –The purpose of this paper is to ascertain whether religions parables are relevant to finance. Design/methodology/approach - In the Gospel, one may find parallels to the capital asset pricing model in the context of the parables of the kingdom of God. For instance, the duality in the...

Purpose – The purpose of this paper is to ascertain whether religions parables are relevant to finance. Design/methodology/approach – In the Gospel, one may find parallels to the capital asset pricing model in the context of the parables of the kingdom of God. For instance, the duality in...

Cash managers and other investors with excess Japanese yen could choose to invest in dollars and to use zero-cost currency options collars (or risk reversals) to limit fluctuations in the dollar-yen exchange rate (as illustrated by VanderLinden and Gramlich, 2005). However, traders know that...