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- Publisher Website: 10.1002/fut.21584
- Scopus: eid_2-s2.0-84885172875
- WOS: WOS:000325349600005
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Article: A Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Case
Title | A Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Case |
---|---|
Authors | |
Issue Date | 2013 |
Publisher | John Wiley & Sons, Inc. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0270-7314/ |
Citation | Journal Of Futures Markets, 2013, v. 33 n. 12, p. 1191-1196 How to Cite? |
Abstract | This study examines the behavior of an exporting firm that exports to two foreign countries, each of which has its own currency. Hedging is imperfect in that the firm can only trade one of the two foreign currencies forward. Compared to the case wherein hedging is perfect in that both foreign currencies can be traded forward, the firm is shown to produce less in the home country. Furthermore, the firm is shown to export more (less) to the foreign country whose currency can (cannot) be traded forward. The firm's optimal forward position is an over-hedge or an under-hedge, depending on whether the spot exchange rates are positively or negatively correlated in the sense of expectation dependence, respectively. © 2012 Wiley Periodicals, Inc. |
Persistent Identifier | http://hdl.handle.net/10722/177812 |
ISSN | 2021 Impact Factor: 2.350 2020 SCImago Journal Rankings: 0.880 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Wong, KP | en_US |
dc.date.accessioned | 2012-12-19T09:39:59Z | - |
dc.date.available | 2012-12-19T09:39:59Z | - |
dc.date.issued | 2013 | en_US |
dc.identifier.citation | Journal Of Futures Markets, 2013, v. 33 n. 12, p. 1191-1196 | en_US |
dc.identifier.issn | 0270-7314 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177812 | - |
dc.description.abstract | This study examines the behavior of an exporting firm that exports to two foreign countries, each of which has its own currency. Hedging is imperfect in that the firm can only trade one of the two foreign currencies forward. Compared to the case wherein hedging is perfect in that both foreign currencies can be traded forward, the firm is shown to produce less in the home country. Furthermore, the firm is shown to export more (less) to the foreign country whose currency can (cannot) be traded forward. The firm's optimal forward position is an over-hedge or an under-hedge, depending on whether the spot exchange rates are positively or negatively correlated in the sense of expectation dependence, respectively. © 2012 Wiley Periodicals, Inc. | en_US |
dc.language | eng | en_US |
dc.publisher | John Wiley & Sons, Inc. The Journal's web site is located at http://www.interscience.wiley.com/jpages/0270-7314/ | en_US |
dc.relation.ispartof | Journal of Futures Markets | en_US |
dc.title | A Note on Exports and Hedging Exchange Rate Risks: The Multi-Country Case | en_US |
dc.type | Article | en_US |
dc.identifier.email | Wong, KP: kpwongc@hkucc.hku.hk | en_US |
dc.identifier.authority | Wong, KP=rp01112 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1002/fut.21584 | en_US |
dc.identifier.scopus | eid_2-s2.0-84885172875 | en_US |
dc.identifier.hkuros | 226663 | - |
dc.identifier.isi | WOS:000325349600005 | - |
dc.publisher.place | United States | en_US |
dc.identifier.scopusauthorid | Wong, KP=7404759417 | en_US |
dc.identifier.issnl | 0270-7314 | - |