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Indirect hedging of foreign currency exposure

Wahl, Jack E.; Broll, Udo; Zilcha, Itzhak - 1994

Persistent link: https://www.econbiz.de/10000885071

Der Einfluß von nicht-hedgebaren Risiken auf Exportproduktion und Risikopolitik

Broll, Udo - 1993

Persistent link: https://www.econbiz.de/10000374381

Value at risk, equity and diversification

Broll, Udo (contributor); Wahl, Jack E. (contributor) - 2006

The value at risk measure attempts to summarize in a single number market value risk of a portfolio of financial assets.The paper focuses on the interaction between the solvency probability of a bank, on one hand, and the diversification potential of its portfolio, on the other hand, when...

Persistent link: https://www.econbiz.de/10003326661

Optimum invoicing in foreign trade

Broll, Udo; Wahl, Jack E. - 2006

Persistent link: https://www.econbiz.de/10003406930

The firm under uncertainty : capital structure and background risk

Broll, Udo; Wong, Keith K.P. - 2010

This paper examines the interplay between the real and financial decisions of the competitive firm under output price uncertainty. The firm faces additional sources of uncertainty that are aggregated into a background risk. We show that the firm always chooses its optimal debt-equity ratio to...

Persistent link: https://www.econbiz.de/10003971039

Prospect theory and hedging risks

Broll, Udo; Egozcue, Martín; Wong, Wing Keung; … - 2010

The prospect theory is one of the most popular decision-making theories. It is based on the S-shaped utility function …, unlike the von Neumann and Morgenstern (NM) theory, which is based on the concave utility function. The S-shape brings in … mathematical challenges: simple extensions and generalizations of NM theory into the prospect theory cannot be frequently achieved …

Persistent link: https://www.econbiz.de/10003980000

Liquidity constrained exporters : trade and futures hedging

Broll, Udo; Wahl, Jack E. - 2009

We present a model of risk averse exporting firm subject to liquidity constraints. The firm enters an unbiased futuresmarket to hedge exchange rate risk and may not be able to satisfy high margin calls. Then the firm is forced toprematurely liquidate the futures position. We show that...

Persistent link: https://www.econbiz.de/10003941169

How international trade is affected by the financial crisis : the gravity trade equation

Broll, Udo; Jauer, Julia - 2014

The study examines the effect of financial crises on international trade with a gravity approach and a large data set covering almost 70 importing and 200 exporting countries from 1950 to 2009. Thus it is possible to put the "Great Trade Collapse" witnessed during the financial crisis 2008/2009,...

Persistent link: https://www.econbiz.de/10011521734

Constant relative risk aversion and form equivalence classes

Battermann, Harald L.; Broll, Udo; Wahl, Jack E. - 1997

We derive a class of utility functions that are equivalent with respect to a well-defined functional form. We apply a general view of constant relative risk aversion to investigate on different equivalence relations. Then we compare our results with standard applications in economics and finance.

Persistent link: https://www.econbiz.de/10009675762

Regional investment under uncertain costs of location

Broll, Udo; Roldán-Ponce, Antonio; Wahl, Jack E. - 2012

Due to globalization competitive firms face increasing economic opportunities for locating their activities in countries, regions and cities that provide the best business environment for their specific needs. In our study we focus on the impact of economic risk and risk preferences upon...

Persistent link: https://www.econbiz.de/10009512741