There has been little research on the applicability and utility of private sector financial risk management practices within public or non-profit institutions and in particular the Canadian Department of National Defence. We examine the historical magnitude of the DND's USD foreign exchange...

We study the impact of exchange rate risk on an exporting firm in a developing country when there is no forward market in the foreign currency. However there exists a forward traded asset in this country the price of which is highly correlated to the foreign currency. By indirectly hedging its...