Operational hedges and the foreign exchange exposure of U.S. multinational corporations

This paper examines the impact of operational hedges of US multinational corporations (MNCs) on their exchange rate exposure. The two important contributions of this study are: First, it documents the importance of operational hedge as significant determinants of exchange rate risk, as measured by &...

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Veröffentlicht in:Journal of international business studies
1. Verfasser: Pantzalis, Christos (VerfasserIn)
Weitere Verfasser: Simkins, Betty J. (VerfasserIn), Laux, Paul A. (VerfasserIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 2001
Schlagworte:
Währungsrisiko > Hedging > Multinationales Unternehmen > USA > Aufsatz in Zeitschrift
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Zusammenfassung:This paper examines the impact of operational hedges of US multinational corporations (MNCs) on their exchange rate exposure. The two important contributions of this study are: First, it documents the importance of operational hedge as significant determinants of exchange rate risk, as measured by "breadth" and "depth" dimensions of the MNC foreign subsidiary network. Second, this finding remains robust even after examining the impact of operational hedges on exposure separately for negatively and positively exposed MNCs.
Beschreibung:In: Journal of international business studies
ISSN:0047-2506