Loderer, Claudio; Pichler, Karl (2000). Firms, do you know your currency risk exposure? Survey results. Journal of Empirical Finance, 7, pp. 317-344. Elsevier
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This paper surveys the currency risk management practices of Swiss industrial corporations. We find tha industrials do not quantify their currency risk exposure and investigate possible reasons. One possibility is that firms do not think they need to know because they use on-balance-sheet instruments to protect themselves before and after currency rates reach troublesome levels. This is puzzling because a rough estimate of at least cash flow exposure is not a prohibitive task and could be helpful. It is also puzzling that firms use currency derivatives to hedge/insure individual short-term transactions, without apparently trying to estimate aggregate transaction exposure.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Financial Management |
UniBE Contributor: |
Loderer, Claudio, Pichler, Karl |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0927-5398 |
Publisher: |
Elsevier |
Language: |
English |
Submitter: |
Karin Dolder |
Date Deposited: |
09 Dec 2013 15:54 |
Last Modified: |
05 Dec 2022 14:27 |
BORIS DOI: |
10.7892/boris.39514 |
URI: |
https://boris.unibe.ch/id/eprint/39514 |
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