What determines exporters' exchange rate hedging decisions and do exporters attempt to “time the market”? We use a … hedging choices. Determinants include financial fragility, prior hedging experience, and natural hedge opportunities. In … addition, firms alter their hedging ratios when the currency has recently trended in one direction. We test whether such …

. Secondly, we employ the presenting models to investigate the hedging performance for five East Asian spot and futures stock … markets: Hong Kong, Japan, Korea, Singapore and Taiwan. Compared with conventional hedging strategies, including Engle … returns on a hedging portfolio over the sample period …