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Author: Don Jones Publisher: Wiley ISBN: 9780471849865 Category : Business & Economics Languages : en Pages : 256
Book Description
The first comprehensive compilation of hedging analysis--at a time when hedging is becoming a very important and active field. Offers material not easily available to the vast majority of hedgers. Foreign currencies have become volatile, and it is essential for all companies doing business in more than one currency to protect themselves. The authors cover the basics of exposure detection and management, including accounting considerations, at a level understandable to practitioners. They then develop the concept of technical hedging, both theoretically and practically. Of the three major types of hedge, two are shown to offer potential for profit in addition to their protection as hedges. Explained for the first time is the timing of foreign exchange hedges using technical modeling. Includes hedging case studies and a corporate hedging survey. Its refutation of the random walk and econometric models may irritate classical economists.
Author: Don Jones Publisher: Wiley ISBN: 9780471849865 Category : Business & Economics Languages : en Pages : 256
Book Description
The first comprehensive compilation of hedging analysis--at a time when hedging is becoming a very important and active field. Offers material not easily available to the vast majority of hedgers. Foreign currencies have become volatile, and it is essential for all companies doing business in more than one currency to protect themselves. The authors cover the basics of exposure detection and management, including accounting considerations, at a level understandable to practitioners. They then develop the concept of technical hedging, both theoretically and practically. Of the three major types of hedge, two are shown to offer potential for profit in addition to their protection as hedges. Explained for the first time is the timing of foreign exchange hedges using technical modeling. Includes hedging case studies and a corporate hedging survey. Its refutation of the random walk and econometric models may irritate classical economists.
Author: Lee R. Thomas Publisher: Ifr Publishing ISBN: Category : Business & Economics Languages : en Pages : 364
Book Description
This title provides a forum for the discussion surrounding the use of currency hedging for portfolio managment and examines the arguments for the different hedging techniques. The main arguments are outlined with contributions from both academics and practitioners. The evidence on the performance of various funds is examined in detail.
Author: Lars Oxelheim Publisher: John Wiley & Sons ISBN: 1119598869 Category : Business & Economics Languages : en Pages : 232
Book Description
A practical and accessible guide that demystifies ForEx risk for managers in all areas of business Virtually any organisation active in the global economy is impacted by fluctuations in foreign exchange (FX or ForEx) markets. Managers need to understand this increasingly complex issue and measure their firm’s exposure to risk. Corporate Foreign Exchange Risk Management is an in-depth yet accessible guide on effective ForEx exposure management. Designed for professionals responsible for managing a profit & loss or balance sheet influenced by ForEx fluctuations, it enables risk managers to navigate the interconnected worlds of financial management and economics. This innovative guide integrates academic discussion of the economics of risk management decisions and pragmatic advice for various situations in which performance measures affected by accounting standards are paid considerable attention. Readers are provided with the tools and knowledge required to handle a broad range of issues related to ForEx risk management. Clear, non-technical chapters demystify concepts that often appear complicated and confusing to managers. Written by globally-recognised experts in corporate finance, risk management and international business, this book: Employs a reader-friendly narrative style to explain complex concepts Provides a clear, actionable risk management strategy which can be used in a variety of businesses Places all concepts in relatable, real-world contexts Explains important academic research to practitioners in plain English Includes effective pedagogical tools and explanations, straightforward examples and end-of-chapter summaries which highlight key points Corporate Foreign Exchange Risk Management is a must-read for any manager who deals with corporate exposure to ForEx risk, as well as analysts wishing to better understand the relation between corporate performance and ForEx fluctuations and students of corporate risk management.
Author: Brian Coyle Publisher: Global Professional Publishi ISBN: 9780852974384 Category : Business & Economics Languages : en Pages : 194
Book Description
� Fully updated version of text formerly used for training by BPP � Diagrammatic representation of deal structures, pricing, and modeling � Full glossary of terms � International perspective, examples in US$ � Clear logical explanation of processes, markets, and products This manual explains the techniques for identifying and covering exposure to adverse movements in foreign exchange rates. It provides practical examples of transaction, translation, and economic risk and shows how a hedging strategy can be arrived at. The hedging strategy will depend upon whether the attitude to risk is adverse, seeking, or neutral. This book examines these attitudes in turn and compares these hedging methods through worked examples. Also included is an analysis of accounting and tax implications. This expansive new range of risk management texts has undergone extensive re-writing to give each book in the series an international perspective. Each explains and analyses core aspects of risk assessment and management in a way invaluable to students and useful to practitioners. All of these titles adopt a practical and clear approach to their subject. All are fully updated versions of a series of books previously produced by training experts at BPP.
Author: Gary Shoup Publisher: Global Professional Publishi ISBN: 9781888998221 Category : Business & Economics Languages : en Pages : 284
Book Description
With the advent of the World Trade Organization and NAFTA, foreign exchange now impacts the corporate world as never before. Hedging currency risk - usually through the interbank network - is now a routine treasury function. However, midsized companies (up to $100 million in annual sales) are often shut out of the interbank market because of cost and minimum size requirements. Currency Risk Management: A Handbook for Financial Managers, Brokers, and Their Consultants shows how to capture this business - from the basic concepts of foreign exchange to prospecting the corporate client. The author writes in an easy-to-read style and shows the finer points of foreign exchange and various exchange regimes recognized by the IMF. The reader will learn why exchange rates are a matter of government restrictions and controls as well as market price discovery.
Author: Ghassem A. Homaifar Publisher: John Wiley & Sons ISBN: 0471281158 Category : Business & Economics Languages : en Pages : 400
Book Description
A comprehensive guide to managing global financial risk From the balance of payment exposure to foreign exchange and interest rate risk, to credit derivatives and other exotic options, futures, and swaps for mitigating and transferring risk, this book provides a simple yet comprehensive analysis of complex derivatives pricing and their application in risk management. The risk posed by foreign exchange transactions stems from the volatility of the exchange rate, the volatility of the interest rates, and factors unique to individual companies which are interrelated. To protect and hedge against adverse currency and interest rate changes, multinational corporations need to take concrete steps for mitigating these risks. Managing Global Financial and Foreign Exchange Rate Risk offers a thorough treatment of price, foreign currency, and interest rate risk management practices of multinational corporations in a dynamic global economy. It lays out the pros and cons of various hedging instruments, as well as the economic cost benefit analysis of alternative hedging vehicles. Written in a detailed yet user–friendly manner, this resource provides treasurers and other financial managers with the tools they need to manage their various exposures to credit, price, and foreign exchange risk. Managing Global Financial and Foreign Exchange Rate Risk covers various swaps in this geometrically growing field with notional principal in excess of $120 trillion. From caplet and corridors to call and put swaptions this book covers the micro structure of the swaps, options, futures, and foreign exchange markets. From credit default swap and transfer and convertibility options to asset swap switch and weather derivatives this book illustrates their simple pricing and application. To show real-world examples, each chapter includes a case study highlighting a specific problem, as well as a set of steps to solve it. Numerous charts accompanied with actual Wall Street figures provide the reader with the opportunity to comprehend and appreciate the role and function of derivatives, which are often misunderstood in the financial market. This detailed resource will guide the individual, government and multinational corporations safely through the maze of various exposures. A must-read for treasures, controllers, money mangers, portfolio managers, security analyst and academics, Managing Global Financial and Foreign Exchange Rate Risk represents an important collection of up-to-date risk management solutions. Ghassem A. Homaifar is a professor of financial economics at Middle Tennessee State University. He has Master of Science in Industrial Management from State University of New York at Stony Brook and PhD in Finance from University of Alabama in 1982. He is the author of numerous articles that have appeared in the Journal of Risk and Insurance, Journal of Business Finance and Accounting, Weltwirtschsftliches Archiv Review of World Economics, Advances in Futures and Options Research,Applied Financial Economics, Applied Economics, International Economics, and Global Finance Journal.
Author: Laurent L. Jacque Publisher: Springer Science & Business Media ISBN: 9400918062 Category : Business & Economics Languages : en Pages : 392
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: Jeffrey Warner Publisher: Lulu.com ISBN: 1365333450 Category : Business & Economics Languages : en Pages : 116
Book Description
This book is an overview of the foreign exchange market and hedging foreign exchange risk. It will help people that are new to the field, as well as being a good refresher for those with experience in this area.
Author: Don Jones
Author: Don Jones
Author: Lee R. Thomas
Author: Business International Corporation
Author: Lars Oxelheim
Author: Boris Antl
Author: Brian Coyle
Author: Gary Shoup
Author: Ghassem A. Homaifar
Author: Laurent L. Jacque
Author: Jeffrey Warner