Exchange rate risk management: evidence fron East Asia
In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth oppo...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
World Bank, Development Research Group, Finance
2001
|
| Schriftenreihe: | Policy research working paper
2606 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth opportunities hedged more. Firms appeared to use foreign earnings as a substitute for hedging with derivatives, and to engage in "selective" hedging. There was no evidence that East Asian firms eliminated their foreign exchange exposure by using derivatives. And firms using derivatives before the crisis performed just as poorly as nonhedgers during the crisis |
| Beschreibung: | "May 2001"--Cover. - Includes bibliographical references (p. 30-32) Erscheinungsjahr in Vorlageform:[2001] Weitere Ausgabe: Allayannis, George: Exchange rate risk management |
| Beschreibung: | 1 Online-Ressource (35, 1, 8 Seiten) Illustrationen 28 cm |
Internformat
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| 500 | |a Weitere Ausgabe: Allayannis, George: Exchange rate risk management | ||
| 520 | 1 | |a In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth opportunities hedged more. Firms appeared to use foreign earnings as a substitute for hedging with derivatives, and to engage in "selective" hedging. There was no evidence that East Asian firms eliminated their foreign exchange exposure by using derivatives. And firms using derivatives before the crisis performed just as poorly as nonhedgers during the crisis | |
| 534 | |c 2001 | ||
| 651 | 4 | |a Ostasien | |
| 653 | |a Debts, External |a East Asia | ||
| 653 | |a Derivative securities |a East Asia | ||
| 653 | |a Foreign exchange |a East Asia | ||
| 653 | |a Hedging (Finance) | ||
| 653 | |a Risk management |a East Asia | ||
| 700 | 1 | |a Brown, Gregory W. |e Verfasser |0 (DE-588)17186722X |4 aut | |
| 700 | 1 | |a Klapper, Leora |e Verfasser |0 (DE-588)129229458 |4 aut | |
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| 776 | 0 | 8 | |i Reproduktion von |a Allayannis, George |t Exchange rate risk management |d 2001 |
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| language | English |
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| physical | 1 Online-Ressource (35, 1, 8 Seiten) Illustrationen 28 cm |
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| spelling | Allayannis, George Verfasser (DE-588)171837312 aut Exchange rate risk management evidence fron East Asia George Allayannis, Gregory W. Brown, Leora F. Klapper Washington, D.C World Bank, Development Research Group, Finance 2001 1 Online-Ressource (35, 1, 8 Seiten) Illustrationen 28 cm txt rdacontent c rdamedia cr rdacarrier Policy research working paper 2606 "May 2001"--Cover. - Includes bibliographical references (p. 30-32) Erscheinungsjahr in Vorlageform:[2001] Weitere Ausgabe: Allayannis, George: Exchange rate risk management In a large sample of East Asian nonfinancial corporations, firms using foreign currency derivatives had distinctive characteristics, such as larger size and foreign debt exposures. Unlike in studies of U.S. firms, there was only weak evidence that liquidity-constrained firms with greater growth opportunities hedged more. Firms appeared to use foreign earnings as a substitute for hedging with derivatives, and to engage in "selective" hedging. There was no evidence that East Asian firms eliminated their foreign exchange exposure by using derivatives. And firms using derivatives before the crisis performed just as poorly as nonhedgers during the crisis 2001 Ostasien Debts, External East Asia Derivative securities East Asia Foreign exchange East Asia Hedging (Finance) Risk management East Asia Brown, Gregory W. Verfasser (DE-588)17186722X aut Klapper, Leora Verfasser (DE-588)129229458 aut World Bank Development Research Group Finance Sonstige oth Reproduktion von Allayannis, George Exchange rate risk management 2001 http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2606 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Allayannis, George Brown, Gregory W. Klapper, Leora Exchange rate risk management evidence fron East Asia |
| title | Exchange rate risk management evidence fron East Asia |
| title_auth | Exchange rate risk management evidence fron East Asia |
| title_exact_search | Exchange rate risk management evidence fron East Asia |
| title_full | Exchange rate risk management evidence fron East Asia George Allayannis, Gregory W. Brown, Leora F. Klapper |
| title_fullStr | Exchange rate risk management evidence fron East Asia George Allayannis, Gregory W. Brown, Leora F. Klapper |
| title_full_unstemmed | Exchange rate risk management evidence fron East Asia George Allayannis, Gregory W. Brown, Leora F. Klapper |
| title_short | Exchange rate risk management |
| title_sort | exchange rate risk management evidence fron east asia |
| title_sub | evidence fron East Asia |
| topic_facet | Ostasien |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2606 |
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