Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 23 for “"Currency risk"”.
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Essays on foreign currency risk management
… on-balance-sheet and off-balance-sheet foreign currency risk management of corporate firms and commercial banks. It is comprised of two essays. The first essay investigates what determines firms’ foreign currency spot net asset positions, derivatives hedging and synthetic hedging positions. We …
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The currency risk factor in international equity pricing
Currency risk in the pricing of international equity returns is analyzed from an empirical viewpoint. The significance of other factors, such as the domestic market index, world index, and industry index is also analyzed.
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Volatility swaps and their use in currency risk management
… benefits that help to decrease the asset risk of a portfolio, they also introduce foreign exchange risk. Classic hedging instruments used to hedge this risk have the drawback of hedging not only the risk but the foreign exchange returns as well. Volatility swaps are financial instruments …
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Jünger Can't Borrow: Demographic Imbalances and Currency Risk Premia
… have significantly lower interest rates and currency returns. As a first step towards explaining this fact, I develop a two-country overlapping generations model to study the relationship between the global wealth distribution and currency risk premia. Relatively wealthy countries in the …
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Currency risk and imperfect knowledge: Cointegrated VAR analyses with survey data
… forecast errors) as well as a time-varying risk premium. What this literature has not done however is to determine whether any of the existing models of the risk premium can account for the time-varying risk premium found in survey data. The second and third chapters use the Cointegrated VAR …
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Essays in international corporate finance
… management and hedging through debt in foreign currency. Chapter 1: Currency Exposure and Liquidity Management. Exchange rate movements present many risks for globalized companies, such as unexpected liquidity shortfalls that reduce their ability to undertake profitable investments. How does …
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A study of the currency management for foreign investments of Korean insurance companies
… countries, and consequently the appropriate currency management becomes a very important issue in asset management. In this paper, various hedging instruments for managing currency risk were reviewed with the focus on Korean specific financial market conditions, and the researches on the …
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Opportunities and challenges of investing in Indian real estate
… carry increased political, regulatory and currency risk, international real estate investment has been on the rise. Compelling macroeconomic and demographic trends along with improvements in structural and regulatory conditions and investment in infrastructure are driving strong real estate …
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Opportunities and challenges of investing in emerging markets : a case study of Panama
… carry increased political, regulatory and currency risk, cross-border real estate investment has been on the rise. This thesis will broadly explore the nature of investment in emerging markets and survey risks associated with deploying capital in these markets, from the perspective of a …
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Financial distress, dealers' behavior and asset pricing in the foreign exchange market
… volatility of the idiosyncratic component of the currency risk premium. More surprisingly, the dispersion in terms of financial wealth across financial intermediaries, measured as the variance of the financial intermediaries CDS spreads, is also an important determinant of this volatility for a …
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Private Equity Financing in Zambia: Determinants and Constraints
… in Zambia. Traditional lenders (i.e. banks) are risk averse because they may not understand the SME market and have been negatively impacted by information asymmetry that is often associated with these ventures. As a result, they tend to charge exorbitant interest rates that are unsustainable for …
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Stock and foreign exchange markets in the Pacific Basin Rim
… and foreign exchange markets and that foreign currency risk is a significant component of domestic stock returns. When examining for potential sources of these close financial links, the research indicates that Country Funds have provided indirect ways of foreign participation in the local …
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Securitization : a platform for organic economic growth in emerging markets : authored
… long term basis in these regions. The perceived risk far outweighs the prospect of high returns. The resultant lack of a long term debt market leads to a stagnant or declining economy. Borrowing on a local level too is very difficult as it is cost prohibitive and the prospect of currency risk …
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Three Essays on International Financial Market Linkages
… that macroeconomic uncertainty is a significant risk factor in explaining deviations from the uncovered interest parity (UIP) condition (or time-varying risk premium) using data from the G7 countries. To analyze the relationship between the risk premium and macroeconomic risk factors, we employ …
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The impact of political events on the kwacha: a focus on elections
… Unfavorable election results can lead to currency depreciation, stock market crashes and economic deterioration as investors change their expectations and demand higher premiums due to the perceived increase in sovereign as well as currency risk. This research focuses specifically on the …
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Essays in Financial Economics
… the rise of shadow banking is associated with riskier mortgages, more speculation, and jointly amplify the housing cycle. Chapter 2 revisits the exchange rate disconnect puzzle at the firm level. If a firm invoices a transaction in a foreign currency, a delay of payment between the transaction …
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Currency management strategies within Scottish companies.
… to provide the first extensive study into the currency management strategies adopted by companies in Scotland, the vast majority of which are small or medium-sized, to manage the increasing risk to their business caused by volatile exchange rates. Evidence is presented of the distinguishing …
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International diversification opportunities for real estate investment portfolios : a fresh look focusing on private real estate after the Great Crash
… for each of the markets and used historical risks (volatility) from the 2000-2009 period as estimates for volatility. When returns are calculated in local currencies, international diversification in the real estate portfolio (diversified within a 10-country opportunity set) should help U.S. …
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Essays in International Macroeconomics and Finance
… forecasting approaches can successfully predict risk premia (i.e. currency excess returns) over the short horizon. In doing so, I aim to overcome three main shortcomings of earlier research: i) Sensitivity to the chosen sample period; ii) seemingly arbitrary selection of explanatory variables …
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Foreign exchange risk exposure, hedging behaviour, and corporate valuations: Evidence from South Africa
… should report high levels of foreign exchange risk exposure. The majority of the studies are based on the developed market context and the emerging markets of the ASEAN region. However, there is scant literature in the context of the emerging markets of the African continent. Considering that …
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