Understanding the nature of risk -- Principles of risk, return, and financial decision making -- Basic concepts of financial risk management -- The financial risk management environment -- The value of financial risk management -- Measuring market risk -- Managing market risk with forward and...

Using a unique and extremely granular data set of complete currency spot and derivatives positions for 101 large non-financial corporations, we compare the stated currency risk management policies with the actual strategies executed by these companies. We identify a notable discord between their...