. Furthermore we find that no separation result can be stated. -- Exchange Rate risk ; hedging ; exports ; duopoly …This paper studies a Cournot duopoly in international trade so that the firms are exposed to exchange rate risk. A … hedging opportunity is introduced by a forward market where the foreign currency can be traded on. We investigate two settings …

This paper studies a Cournot duopoly in international trade so that the firms are exposed to exchange rate risk. A … hedging opportunity is introduced by a forward market where the foreign currency can be traded on. We investigate two settings …: First we assume that hedging and output decisions are taken simultaneously. We show that hedging is just done for risk …

This paper examines the optimal production, export allocation and hedging decisions of a risk-averse international firm … each currency. Then, both production and export allocation are separable. Hedging with forward contracts depends on risk … decisions are analyzed under two scenarios. In the first, there is a forward market for one currency only. Then, the export …

Abstracting from self-protection and self-insurance e ects of export produc-tion choices, exporting rms usually have … achieved from the existence of risk sharing markets are the separationtheorem and the and full-hedging theorem. This note … examines the optimalproduction for exports and hedging decisions of a risk-averse rm facing bothhedgeable exchange rate risk …

This paper studies a simple duopoly model of price competition under exchange rate uncertainty with pre-set prices and …

interpreted as an option. An enterprise will opt to export if the profits obtained from exporting under given exchange rate …, an enterprise will choose not to export. By virtue of a favorable exchange rate situation it may be more advantageous to … may still lead to greater export trade volumes. -- Export ; Exchange Rate Volatility ; Risk Aversion ; Real Option …