to higher delinquencies and interest rates, while exports are unaffected. Natural and financial hedging successfully mute …

to higher delinquencies and interest rates, while exports are unaffected. Natural and financial hedging successfully mute …

paper examines the available evidence on the nature and extent of this hedging behaviour. Related to this, Australia’s net …

optimal hedge ratio given the outcome of past hedging decisions and future expectations. The model implies that the optimal … 2015 and find strong evidence for the model's predictions. By adding a dynamic regret approach to the hedging and FX … literature we shed further light on the rationale behind selective hedging. …

optimal hedge ratio given the outcome of past hedging decisions and future expectations. The model implies that the optimal … 2015 and find strong evidence for the model's predictions. By adding a dynamic regret approach to the hedging and FX … literature we shed further light on the rationale behind selective hedging. …

variations. This paper argues that domestic-currency invoicing and hedging with exchange rate derivatives allow a fairly …Domestic-currency invoicing and hedging allow internationally active firms to reduce their exposure to exchange rate … exchange rate on competitiveness) is by its very nature harder to manage, but the paper argues that natural hedging provides …

funds. Most mutual funds using derivatives do so to a very limited extent that has little discernable impact on returns …. However, there exist two types of funds that make more extensive use of derivatives, global funds and specialized domestic … employing derivatives sparingly or not at all. We find evidence that fund managers time their use of derivatives in response to …

results show that foreign exchange exposure is negatively related to derivatives usage, and support the hedging explanation of … past 10 years, and relate this to higher derivatives market participation. Our methodology follows a three stage approach …-Dumas (1984) model. Next, we use an indirect approach to estimate the derivatives market participation at the firm level. Finally …

effectiveness of such hedges depends on the hedge horizon, they might affect a firm's usage of foreign exchange derivatives and lead …