Umfang:
1 Online-Ressource (35, 1, 8 Seiten)
,
ill
,
28 cm
Ausgabe:
Online-Ausg Also available in print under title Capital structure and financial risk
Serie:
Policy research working paper 2606
Inhalt:
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
Anmerkung:
"May 2001"--Cover
,
Includes bibliographical references (p. 30-32)
Weitere Ausg.:
Allayannis, George Exchange rate risk management
Sprache:
Englisch
URL:
Volltext
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