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Stakeholder Versus Shareholder Satisfaction in Corporate Risk Management

Aabo, Tom - 2005

is to satisfy stakeholders in general (quot;stakeholder satisfaction companiesquot;) pursue a more extensive hedging … particular (quot;shareholder satisfaction companiesquot;). The extensive hedging strategy of stakeholder satisfaction companies … cannot be explained by company characteristics normally identified in the literature as being decisive for hedging behaviour …

Persistent link: https://www.econbiz.de/10012737466

Management Motivations for Use of Foreign Currency Derivatives in India

Anand, Manoj - 2008

Persistent link: https://www.econbiz.de/10012773509

Exchange Rate Risk Measurement and Management : Issues and Approaches for Firms

Papaioannou, Michael G. - 2006

use of financial derivatives instruments, and hedging practices by U.S. firms … passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and … presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the …

Persistent link: https://www.econbiz.de/10012779037

Why Do Emerging Market Economies Borrow in Foreign Currency?

Jeanne, Olivier - 2006

This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing...

Persistent link: https://www.econbiz.de/10012782655

Multinational Capital Structure and Financial Flexibility

Hodder, James E. - 2000

We address multinational capital structure decisions when firms have varying degrees of financial flexibility for shifting income and/or tax shields between subsidiaries. We find: a) Firms can use leverage to dramatically reduce negative valuation effects from operating in a high-tax country. b)...

Persistent link: https://www.econbiz.de/10012788774

Managing Financial Risk by Using Derivatives : A Study of United Arab Emirate Listed Companies

Said, Ali - 2017

risk with the use of derivatives. By examining the companies' annual reports and financial reviews for the year 2015. The … studied revealed that low use of the financial derivatives within Investment and the real estate industries. The use of the … derivatives was only 25% while is consider to be below due to the high risk associated with the industry. The risk management …

Persistent link: https://www.econbiz.de/10012951436

Managing Financial Risk by Using Derivatives : A Study of United Arab Emirate Listed Companies

Said, Ali - 2017

Persistent link: https://www.econbiz.de/10012951444

Time-Variation in the Exchange Rate Exposure of Swiss Firms

Kabitz, Lars - 2017

least partly. I further show that volatility in exposures reduces the hedging effectiveness and leads thus to wrong … decisions with regard to hedging activities. Trying to hedge an asset exposed to exchange rate movements can increase the …

Persistent link: https://www.econbiz.de/10012957296

(Un)Competitive Devaluations and Firm Dynamics

Rodnyansky, Alexander - 2019

This paper studies monetary and exchange rate policy in a world of global value chains. Using recent microdata from Japan and Russia, devaluations are shown to negatively affect exporters in terms of employment, domestic revenue and profitability relative to nonexporting firms. Given their...

Persistent link: https://www.econbiz.de/10012900331

Internal Capital Markets and the Transmission of Exchange-Rate Shocks : Micro Evidence from Chinese Customs Data

Shi, Kang - 2019

Liquidity-constrained large shareholders often reallocate capital within business groups to finance their own projects, imposing credit constraints on other group members. Using microdata from Chinese customs, we study the impact of this negative externality on the transmission of exchange-rate...

Persistent link: https://www.econbiz.de/10012903508