-movement of export and import related exchange rates. I find that operational hedging requires firms to intentionally choose … export and import regions with comoving currencies. Analyzing the locational choice of firms confirms that the co-movement of … move together. Appreciations of the domestic currency, raising foreign currency export prices, then also reduce marginal …

evidence that is consistent with this prediction. Over a fifteen year period between 1995 and 2009, the rise in import …

We analyze time-varying exchange rate co-movements and volatility spillovers between the Czech koruna, the Polish zloty … increase but hedging costs rise as well. Based on the spillover index we document that during calm periods most of the … volatilities are due to each currency's own history. However, during the distress periods volatility spillovers among currencies …

and exchange rate volatility and that importand opportunity cost of reserves holding have insignificant impact on Nigeria … rate volatility, oil price volatility and global macroeconomic imbalances. …

-denominated trade, in turn, exposes these firms to exchange rate or “FX” risk. Despite this, there is no systematic study of hedging … hedging and hedging instruments from the perspective of SMEs …

spot prices and US equity prices following the 2007 Global Financial Crisis. It also aims at estimating hedging …,870 daily observations of US financial market during 2007-2017. Findings-The results suggest that the hedging effectiveness of … investors, policy makers and portfolio managers. The key findings of this study are critical in formulating optimal hedging …