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"Natural hedging" of exchange rate risk: The role of imported input prices
Fauceglia, Dario; Shingal, Anirudh; Wermelinger, Martin - Volkswirtschaftliche Fakultät, … - 2012
) into imported intermediate input prices and its role in the price setting behaviour of exporters. We explicitly include … disaggregated proxies for imported input prices in our analyses to investigate whether Swiss ex-porters may have “naturally hedged … high ERPT into imported input prices in all sectors and strong sectoral ERPT heterogeneity on the export side in both the …
Persistent link: https://www.econbiz.de/10011257878
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Changes in the DOW effects in the Romanian foreign exchange market
Dumitriu, Ramona; Stefanescu, Razvan - Volkswirtschaftliche Fakultät, … - 2010
2010. Our investigation employs data from the prices in the Romanian national currency, of the two main currencies used in …
Persistent link: https://www.econbiz.de/10011258901
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Some thoughts on accurate characterization of stock market indexes trends in conditions of nonlinear capital flows during electronic trading at stock exchanges in global capital ma...
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - Volkswirtschaftliche Fakultät, … - 2013
valuation, foreign exchange rates, interest rates, prices of strategic commodities over the specified time period. We found that …
Persistent link: https://www.econbiz.de/10011259405
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IAS 21 The Effects of Changes in Foreign Exchange Rates - A Closer Look
Muthupandian, K S - Volkswirtschaftliche Fakultät, … - 2009
The International Accounting Standards Committee issued the the International Accounting Standard 21, The Effects of Changes in Foreign Exchange Rates. An entity may carry on foreign activities in two ways. It may have transactions in foreign currencies or it may have foreign operations. In...
Persistent link: https://www.econbiz.de/10009322645
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What Lies Beneath: Foreign Exchange Rate Exposure, Hedging and Cash Flows
Bartram, Söhnke M. - Volkswirtschaftliche Fakultät, … - 2007
This paper presents results from an in-depth analysis of the foreign exchange rate exposure of a large nonfinancial firm based on proprietary internal data including cash flows, derivatives and foreign currency debt, as well as external capital market data. While the operations of the...
Persistent link: https://www.econbiz.de/10005789336
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Corporate Hedging and Shareholder Value
Aretz, Kevin; Bartram, Söhnke M. - Volkswirtschaftliche Fakultät, … - 2009
According to financial theory, corporate hedging can increase shareholder value in the presence of capital market imperfections such as direct and indirect costs of financial distress, costly external financing, and taxes. This paper presents a comprehensive review of the extensive existing...
Persistent link: https://www.econbiz.de/10005835392
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Corporate Cash Flow and Stock Price Exposures to Foreign Exchange Rate Risk
Bartram, Söhnke M. - Volkswirtschaftliche Fakultät, … - 2007
This paper estimates the foreign exchange rate exposure of 6,917 U.S. nonfinancial firms on the basis of stock prices … increases with time horizon. Overall, the impact of exchange rate risk on stock prices and cash flows is similar and determined …
Persistent link: https://www.econbiz.de/10005836323
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Bretton-Woodský měnový systém: Systém fixních nebo de-facto plovoucích kurzů?
Bednarik, Radek - Volkswirtschaftliche Fakultät, … - 2009
International monetary system made by agreement in Bretton – Woods, is widely known to be the system of fixed exchange rates with allowed +/- 1% band of oscillation. As such, it is viewed as the period of exchange rates stability. However, our analysis of Reinhart – Rogoff’s (2004)...
Persistent link: https://www.econbiz.de/10005042697
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La place du contrôle des mouvements de capitaux dans la politique économique française et les perspectives liées à son allégement
Galy, Michel - Volkswirtschaftliche Fakultät, … - 1986
This paper reviews the central features of France’s capital controls in the 70's and 80's and strives to assess their ability, in the context of various exchange rate mechanisms, to regulate capital flows and to stabilize the exchange rate while allowing France to preserve a measure of...
Persistent link: https://www.econbiz.de/10011170135
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Time Path of Price Adjustment in Domestic Markets of Non-tradable Staples to Changes in World Market Prices
Badiane, Ousmane; Goudan, Anatole; Tankari, Mahamadou … - Volkswirtschaftliche Fakultät, … - 2013
The paper presents a model to analyze the adjustment of prices of non-traded food staples to changes in global food … prices via the response of traded commodities in domestic markets. It shows that the impact on local prices of shocks … interconnectedness, the model used here allows us to trace the future impact of shocks on local prices over time and thus helps policy …
Persistent link: https://www.econbiz.de/10011258871