Foreign Exchange Exposure Management:A Portfolio Approach PDF Download

Author: L. Soenen
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 160

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Book Description

Author: Luc Aloys Soenen
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 420

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Book Description

Author: William Thomas
Publisher: Createspace Independent Publishing Platform
ISBN: 9781720670209
Category :
Languages : en
Pages : 162

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Book Description
Decentralized and volatile, the foreign exchange market is arguably the largest tradable market in the world. With participants ranging from speculators to risk adverse corporate hedgers, the foreign currency market offers a diverse offering of products. The book presents readers with fundamental concepts of market forces, corporate risk management and basic terminology in the market. Later chapters cover products including the spot market, forward contract, option date forward contract, compensating contract, partial offset contract, and swap contracts. The book concludes with more complex contract structures that include the non-deliverable forward contract and common forms of an option contract. Examples of each contract type are provided to reinforce the concepts with a focus on corporate treasury and risk management. Thomas Kimbrell takes a unique approach to introducing foreign currency exchange market by focusing on the corporation. Specifically, Kimbrell writes about risk management and developing policy towards managing foreign exchange volatility on corporate earnings. Examples of foreign exchange products are from a corporate perspective giving treasury management a simple and effective method to easily understand and apply the concepts presented.

Author: Maria Leonida Fres- Felix
Publisher:
ISBN:
Category : Financial institutions
Languages : en
Pages : 26

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Book Description

Author: Niso Abuaf
Publisher:
ISBN:
Category : Foreign exchange administration
Languages : en
Pages : 148

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Book Description
Combines the theoretical with the practical, taking an in-depth look at the many causes behind foreign-exchange volatility. Aimed at handling volatility with greater confidence, the book provides a clear understanding of all the concepts & instruments involved in foreign-exchange management. In short, this book offers the perspective & the tools needed to take decisive action in today's highly volatile foreign-exchange market.

Author: Arun Muralidhar
Publisher:
ISBN: 9780615385617
Category : Portfolio management
Languages : en
Pages : 197

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Book Description
The year 2008 was a watershed year as dramatic market movements exposed the flaws in the theory and practice of pension fund management. Solvency declined dramatically, hedge funds did not deliver, rebalancing policies detracted value and liquidity dried up tainting the allure of "alternative" investments. Static policies for dynamic markets are undoubtedly flawed and have to be changed with the support of appropriate liquid, transparent and low cost benchmarks; implicit bets need to be made explicit and managed; naive performance measures have to be improved; and the CAPM needs to be revamped dramatically. But this process can only start with investors taking the time to understand how various market factors influence assets or managers and then develop a set of rules so that as the factors evolve over time, the optimal portfolio evolves simultaneously. SMART (Systematic Management of Assets using a Rules-based Technique) management of assets and liabilities leads to improved solvency and a lowering of ALM risks. SMART is about introducing good process namely, only measured and monitored risks can be managed. This book presents a new design for pension fund management that allows CIOs to be smart about managing assets relative to liabilities and, at the same time, allows them to access alpha flexibly (and compensate managers only when they demonstrate skill), thereby improving solvency.

Author: Laurent L. Jacque
Publisher: Springer Science & Business Media
ISBN: 9400918062
Category : Business & Economics
Languages : en
Pages : 392

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Book Description
Since I first published Management of Foreign Exchange Risk (Lexington Books, 1978), financial innovation-spurred, in part, by exploding volatility in currency prices-has revolutionized the theory and praxis of foreign exchange risk management. Old-fashioned forward contracts have surrendered market share to currency swaps and options as well as to their perpetually multiplying derivatives. Interestingly, forex derivatives now provide a low cost and highly efficient method of transferring risk from the firms that are exposed to risk but which would rather not be (i. e. , risk-hedgers) to those which are not exposed but which-in exchange for a fee-would assume some exposure to risk (i. e. , risk bearers). Perhaps more importantly, foreign exchange risk management, which was once a fairly mechanical task confmed to the international treasury function, is now permeating global strategic management. Indeed, since the demise of the Bretton Woods system of pegged exchange rates, the cost of forex hedging instruments has fallen so dramatically that firms can readily avail themselves of hedging products which can reduce unwanted risk, thereby potentially gaining a competitive advantage over rivals that do not. Management and Control of Foreign Exchange Risk has grown out of a fundamental revision of my earlier work published almost 20 years ago. In the process, my thinking about risk and its mathematics has greatly benefitted from my association with John Cozzolino and Charles Tapiero.

Author: Gregory Connor
Publisher: Princeton University Press
ISBN: 1400835291
Category : Business & Economics
Languages : en
Pages : 400

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Book Description
Portfolio risk forecasting has been and continues to be an active research field for both academics and practitioners. Almost all institutional investment management firms use quantitative models for their portfolio forecasting, and researchers have explored models' econometric foundations, relative performance, and implications for capital market behavior and asset pricing equilibrium. Portfolio Risk Analysis provides an insightful and thorough overview of financial risk modeling, with an emphasis on practical applications, empirical reality, and historical perspective. Beginning with mean-variance analysis and the capital asset pricing model, the authors give a comprehensive and detailed account of factor models, which are the key to successful risk analysis in every economic climate. Topics range from the relative merits of fundamental, statistical, and macroeconomic models, to GARCH and other time series models, to the properties of the VIX volatility index. The book covers both mainstream and alternative asset classes, and includes in-depth treatments of model integration and evaluation. Credit and liquidity risk and the uncertainty of extreme events are examined in an intuitive and rigorous way. An extensive literature review accompanies each topic. The authors complement basic modeling techniques with references to applications, empirical studies, and advanced mathematical texts. This book is essential for financial practitioners, researchers, scholars, and students who want to understand the nature of financial markets or work toward improving them.

Author: José A. Soler Ramos
Publisher: IDB
ISBN: 9781886938717
Category : Business & Economics
Languages : en
Pages : 422

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Book Description
"Drawing on practical methods used by successful risk managers in emerging and developed markets throughout the world, the book provides specific guidance on establishing a modern risk management framework and developing efficient approaches to increase the profitability of risk management activities in emerging market settings."--BOOK JACKET.

Author: Mr.Philipp Hartmann
Publisher: International Monetary Fund
ISBN: 1451928122
Category : Business & Economics
Languages : en
Pages : 54

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Book Description
Capital adequacy regulations or quantity restrictions on bank portfolios put forward by the Basle Committee on Banking Supervision have virtually become an international standard of prudential regulation. Recent proposals aim at extending this approach to market risks, in particular to foreign exchange risk. The present paper provides a critical analysis of proposals to introduce foreign exchange position limits on a uniform cross-country basis, focusing on their effectiveness and their possible impact on the functioning of both mature and developing foreign exchange markets. Theoretical considerations are underpinned in the paper with descriptions of existing or proposed regulations, in a broad range of both industrial and developing countries. Experiences with the use of foreign exchange position limits in developing countries provide insight into their widespread use for other than prudential purposes, in particular to support exchange rate and exchange control policies.