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. …

). Although financial theory strongly supports that exchange rate movement should affect the value of a multinational corporation …

over the period 1995 to 2017. I find strong evidence that the after-hedging exposures of potential exporters are affected …