essential in analyzing optimal hedging and export decisions. When the spot exchange rate and the futures exchange rate are …

Based upon the foundations of mean-variance decision-making theory, we demonstrate that a change in the risk situation … of an international enterprise open currency position does not inevitably require a corresponding hedging accommodation …. Given a new risk situation, whether a revision of the hedging-strategy is appropriate will depend upon the elasticity of …

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. …