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characteristics which proxy for corporate hedging are not significant. Further, using a portfolio approach, it is demonstrated that … currency depreciation and appreciation. -- Foreign exchange ; exposure ; stock returns ; international finance ; hedging …
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We see a contrast between the importance of the currency risk factor in modern investment management and its treatment in portfolio analytics like performance attribution and risk budgeting. Part of this can be explained by conceptual complexities: currencies are not just another asset class,...
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