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Dissertations / Theses on the topic 'Exchange risks'

Author: Grafiati

Published: 28 June 2021

Last updated: 3 February 2022

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1

Wanga, Godwill George. "Hedging Exchange Rate Risks." ScholarWorks, 2017. https://scholarworks.waldenu.edu/dissertations/3373.

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Risks associated with fluctuating exchange rates affect investment cost and investor profitability. Approximately 50% of firms in emerging markets have significant exposure to fluctuating exchange rates. Grounded in principal-agent theory (PAT), the purpose of this case study was to explore hedging strategies to mitigate risks of fluctuating exchange rates. The population comprised a census sampling of 12 bank hedgers (risk managers and controllers) in Dar es Salaam in Tanzania, East Africa. Data collection involved semistructured interviews, casual observations of the work environment, and an

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2

Tang, Bo. "Exchange rate dynamics and risks in China : empirical evidence." Thesis, University of Sheffield, 2015. http://etheses.whiterose.ac.uk/11591/.

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In spite of a voluminous literature on the Chinese economy and its currency policy, the dynamics and risks of the Renminbi (RMB) exchange rate remain unsatisfactorily answered. To address these issues, this thesis builds upon the existing literature to investigate exchange rate dynamics and exposure in China. Generally, the thesis consists of three separate yet related empirical chapters that aim to unlock the secret of China's growth and uncertainties in the Chinese financial market, which have received much attention from policy-makers, academics and investors. Empirical evidences from four

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3

Mahapa, Ramatlakana Realeboga. "Management of foreign exchange risks exposure by SMEs in South Africa." Diss., University of Pretoria, 2017. http://hdl.handle.net/2263/59862.

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This research report explores the strategies used by small and medium enterprises (SMEs) in managing the risks associated with foreign-exchange exposure. The research also seeks to discover the reasons why SMEs use these strategies and whether or not they have been effective in managing the risk of foreign exchange exposure. The abandonment of the Bretton Woods system brought a new era of floating foreign exchange rates that led to volatility in the global currency market. Studies have found that SMEs are more vulnerable to fluctuations in the exchange rate than their larger counterparts, whic

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4

Mukoyi, Lenia Sithabiso. "Effects of investment style risks on expected returns on the Johannesburg Stock Exchange: A cross-sector analysis." University of Western Cape, 2020. http://hdl.handle.net/11394/7424.

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Magister Commercii - MCom<br>Market Segmentation and style investing have become an essential part of security management over the past 40 years. There are many factors that separate the market, these include economy, investor behaviours, and specific anomalies. Apart, from the segmentation, investors lean towards a few tested investment styles and sectors, which hinder growth, while, dividing the market further. Thus, a major question arises on what really drives asset performance in the South African equity market. An evaluation of the relationship between sector performance and style anomal

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5

Zhang, Cui. "Exchange rate risks in trade and investment between South Africa and the developed countries / by Cui Zhang." Thesis, North-West University, 2009. http://hdl.handle.net/10394/3111.

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The current international monetary system is very different from that of a few decades ago. Many of the old restrictions that had been placed on currency and capital movements between countries have fallen away in favour of a much more liberal international payment and investment system. The global financial arena is now characterized by greater currency instability, volatility and heightened financial risks. Exchange Rate risk is one of the complex topics in the economic world. Since there are so many factors in the financial market that influence a country's currency value, it becomes very r

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6

Bozovic, Milos. "Risks in Commodity and Currency Markets." Doctoral thesis, Universitat Pompeu Fabra, 2009. http://hdl.handle.net/10803/7388.

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This thesis analyzes market risk factors in commodity and currency markets. It focuses on the impact of extreme events on the prices of financial products traded in these markets, and on the overall market risk faced by the investors. The first chapter develops a simple two-factor jump-diffusion model for valuation of contingent claims on commodities in order to investigate the pricing implications of shocks that are exogenous to this market. The second chapter analyzes the nature and pricing implications of the abrupt changes in exchange rates, as well as the ability of these changes to expla

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7

Zlámalíková, Lucie. "Zhodnocení finanční situace mezinárodně působícího podniku a návrhy na její zlepšení." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2021. http://www.nusl.cz/ntk/nusl-443144.

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The diploma thesis focuses on the evaluation of the financial situation of a selected internationally operating company. The work consists of a total of three parts, while the theoretical part mentions concepts related to the assessment of financial health. The analytical part includes an analysis of the current state of the company and the market. And in the last part, a proposal to improve the financial situation of the selected company is addressed.

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8

Haiyan, Wang. "Home-country determinants of outward FDI: Evidence from BRICS economies and five developed countries." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-316709.

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This paper studies the home-country determinants of outward FDI with a focus on nine empirically recognized host-country determinants of inward FDI, namely market size, labor cost, exchange rate, inflation, interest rate, political risks, corruption, openness, and technology. Based on a panel with 183 observations from BRICS and five developed countries (Australia, Germany, Japan, UK, US), evidence is found that market size, inflation, interest rate, political risks, and openness have significant influence on FDI outflows. Moreover, the results of this study show that there are striking differ

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9

Ozgen, Tolga. "Market efficiency and hedging foreign exchange risk : evidence from Turkey." Thesis, University of Aberdeen, 2014. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=210802.

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10

Rossi, Luiz Egydio Malamud. "Estudo de três metodologias para determinação do custo de capital internacional : análise comparativa e validação dos modelos." Universidade de São Paulo, 2007. http://www.teses.usp.br/teses/disponiveis/12/12139/tde-14052008-152910/.

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O processo de globalização integrou mercados, aumentou o fluxo de capitais entre os países e, apesar da maior abundância de capitais, aumentou a disputa entre países emergentes e desenvolvidos por recursos oriundos do exterior. Em decorrência dessa maior dependência de recursos externos, a capacidade de atrair investimentos se tornou um fator importante para determinar a competitividade do país no cenário internacional. Os investidores consideram a relação entre risco percebido e retorno esperado ao alocar seus recursos internacionalmente e, dessa forma, a correta mensuração do risco incorrido

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11

Muller, Aline. "Foreign exchange risk exposure." [Maastricht : Maastricht : Universiteit Maastricht] ; University Library, Maastricht University [Host], 2005. http://arno.unimaas.nl/show.cgi?fid=6455.

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12

Meera, Ahamed Kameel. "The Effects of Stock Delistings on Firm Value, Risk, Market Liquidity and Market Integration: With Evidence on Wealth Effects from the Stock Exchanges of Malaysia and Singapore, Using GARCH." Thesis, University of North Texas, 1996. https://digital.library.unt.edu/ark:/67531/metadc278898/.

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This study examines the effects of delisting on firm value, risk and market liquidity. In a world where markets are becoming increasingly integrated, delistings may prove counter productive. We use the unique event, free from company specifics, that occurred on January 2, 1990 in the stock exchanges of Singapore and Malaysia to test for the above effects. On that day, dual listed companies were required to delist from the foreign stock exchange. We also use this event to test if the Singapore and Malaysia markets are globally integrated. Since financial data is found to show persistence in v

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13

Tristani, Oreste. "Essays on exchange rate risk." Thesis, University of Warwick, 1996. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.339834.

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14

Wan, Chung-kum. "Cross hedging of foreign exchange risk." Click to view the E-thesis via HKUTO, 2000. http://sunzi.lib.hku.hk/hkuto/record/B31954741.

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15

Yusuf, Mazila M. D. "Foreign exchange risk : the Malaysian experience." Thesis, University of Strathclyde, 2006. http://oleg.lib.strath.ac.uk:80/R/?func=dbin-jump-full&object_id=21666.

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Foreign exchange rate risk has certain implications on the economic growth of a country. Such risk, measured by the volatility of exchange rates, is said to deter companies from engaging in international trade, reduce the profitability of firms (directly or indirectly) and discourage foreign direct investment inflows. The overall aim of this research is to analyse the impact of exchange rate risk or volatility on the Malaysian economy. The implications of exchange risk are substantiated by empirical studies on the impact of exchange rate volatility on Malaysia's trade balance and main categori

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16

Wan, Chung-kum, and 尹頌琴. "Cross hedging of foreign exchange risk." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2000. http://hub.hku.hk/bib/B31954741.

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17

Chalamandaris, George. "Liquidity risk in spot foreign exchange markets." Thesis, Imperial College London, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.325567.

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18

Olusi, Olasupo. "Exchange rates risk and equity portfolio diversification." Thesis, Durham University, 2005. http://etheses.dur.ac.uk/2713/.

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This thesis identifies and fills certain gaps in the empirical literature on the relationship between exchange rates and stock prices, and equity portfolio diversification, with the aim of providing useful information for academics, private investors, currency risk hedgers, and policy-makers. Firstly, it analyses granger-causal links between exchange rates and stock prices even at a level of stock market disaggregation not previously considered, taking into consideration a number of factors that may influence the lead/lag results. Secondly, the thesis considers whether exchange rate movements

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19

Johnson, Peter F. "Risk Assessment in Telephone Exchanges." Digital WPI, 2005. https://digitalcommons.wpi.edu/etd-theses/277.

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A systematic framework has been developed to assess what it is that is at risk in any given telephone exchange. This critical area procedure is designed to identify high risk areas, both in terms of potential property damage and business interruption. This procedure utilizes a functionally based approach that is pictorial in presentation n and well suited to management decision making processes.

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20

Alfi, Ayman F. "On the characteristics of risk, risk aversion, and risk management in emerging financial markets : evidence from Saudi Arabia." Thesis, Swansea University, 2013. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.678584.

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21

McCarron, Sean. "Reducing exchange rate risk and exposure: The value of foreign exchange currency hedging strategies." CSUSB ScholarWorks, 2004. https://scholarworks.lib.csusb.edu/etd-project/2534.

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The topic researched for this project will be foreigh exchange hedging; the available forms, the uses, the procedures, and the value. This project will expand beyond the typical research and examine the value of hedging through the use of different foreign exchang currency trading strategies to small multinationational corporations.

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22

Ribeiro, Vera Carneiro. "Pricing of exchange traded funds." Master's thesis, NSBE - UNL, 2014. http://hdl.handle.net/10362/11721.

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics<br>ETFs are a relatively new investment product that allows investors to achieve the diversification of a mutual fund with the trading flexibility of a stock. This and other advantages have been drastically attracting investors over the last years; however, the price of this product is a topic that remains little explored. In this paper I introduce a panel data analysis of premiums/discounts of ETFs with similar characteristics. I find that some of

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23

Chang, Chun-chung Winston. "Applicability of value-at-risk methodology in managing market risk for HK stock market investors /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B19877274.

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24

Miliauskaitė, Kristina. "Foreign exchange risk management in the company „Snaige“." Bachelor's thesis, Lithuanian Academic Libraries Network (LABT), 2009. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2008~D_20090403_124135-36146.

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The main purpose of this work is to analyze currency risk management opportunities in the industrial company “Snaige”. In order to reach this objective some tasks are set during the work. Firstly it is important to reveal the importance of foreign exchange risk management for the companies that are vulnerable to adverse currency rates. Necessary condition of the work is to measure “Snaige” company’s exposure to currency risk. Using historical simulation and scenario analysis critical point is to compare company’s earnings using and not using hedging. Final task is to assess the benefit for the

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25

Suppakitjarak, Nathridee. "International portfolio diversification and hedging exchange rate risk." Thesis, University of Birmingham, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.668332.

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26

Goddard, Michael John. "Foreign exchange risk management in U.K. international companies." Thesis, University of Bath, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.259947.

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27

Walsh, Eamonn J. "Foreign exchange risk management in UK multinational companies." Thesis, Connect to e-thesis, 1986. http://theses.gla.ac.uk/767/.

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Thesis (Ph.D.) - University of Glasgow, 1986.<br>Ph.D. thesis submitted to the Department of Accounting and Finance, University of Glasgow, 1986. Includes Bibliographical references. Print version also available.

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28

Edelshain, David John. "British corporate currency exposure and foreign exchange risk management." Thesis, London Business School (University of London), 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.261812.

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29

Zeľo, Tomáš. "Managing of foreign exchange risk in software development company." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-85294.

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This master thesis discusses the field of foreign exchange risk management and assesses efficiency of this type of risk management within FFastFill plc. The thesis contains two major parts. The first part, which contains the first and the second chapter, focuses on theoretical characteristics of foreign exchange market and sequentially defines the terms of foreign exchange exposure and foreign exchange risk. This part of thesis discusses hedging strategies and matters that are related to the selection of optimal hedging strategy. The second part of thesis contains the third and the fourth chap

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30

Znamenáčková, Lenka. "Rizika podnikání v ČLR." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-77723.

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PRC is no longer seen only as a "world factory". It gains on importace as an global trading partner and many foreign companies try to succeed in Chinese market as importers of their products. Also Czech businesses have already penetrated Chinese market, invested there or are seriously considering expansion to the market. Main objectives of the thesis are to review and characterize main risks, obstacles and barriers which Czech entrepreneurs have to deal with when entering the Chinese market and suggestions how to obviate them.

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31

Marks, Géraldine. "Quelle place pour le droit dans la gestion des urgences sanitaires de portée internationale ? : esquisse d’une gouvernance des risques biologiques par l’échange d’informations." Thesis, Aix-Marseille, 2012. http://www.theses.fr/2012AIXM1108.

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Les urgences sanitaires de portée internationale font partie de ces risques que les Etats, pris isolément, ne peuvent gérer seul pour assurer la permanence du bien-être de leur population. Cette thèse explore alors la possibilité de pallier l'insuffisante intégration de la communauté internationale en matière de gestion de ce qui sera considéré comme des risques biologiques, par l'établissement d'un système de gouvernance internationale et globale fondée sur l'échange d'informations. Pour le fonctionnement de ce système, l'information doit être produite mais elle doit également avoir la possib

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32

Verschoor, Willem Franciscus Cornelis. "Forward exchange market dynamics an empirical analysis of expectations, risk and innovations in forward foreign exchange /." Maastricht : Maastricht : Universitaire Pers Maastricht ; University Library, Maastricht University [Host], 1993. http://arno.unimaas.nl/show.cgi?fid=6226.

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33

IIJIMA, YOSHIHIKO. "RISK DISCLOSURE IN SECURITIES EXCHANGE AND MEDICAL TREATMENT CONTRACTS." Nagoya University School of Medicine, 2009. http://hdl.handle.net/2237/11337.

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34

Morken, Maria Aamlid, and Marte Jerkø. "Priced Liquidity Risk Factors at the Oslo Stock Exchange." Thesis, Norges teknisk-naturvitenskapelige universitet, Institutt for industriell økonomi og teknologiledelse, 2012. http://urn.kb.se/resolve?urn=urn:nbn:no:ntnu:diva-21065.

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We examine how liquidity risk influences stock returns at the Oslo Stock Exchange by investigating if differences between returns are related to liquidity, and how liquidity should be measured. A wide range of distinct liquidity measures is studied, and the measures which best express liquidity risk are combined to a multifactor model. We use a multi-perspective approach to select and compare measures, and perform Fama-MacBeth regressions to evaluate the performance of factor combinations. We find liquidity risk to be priced. Turnover is found to be the liquidity measure that best captures liq

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35

Majerbi, Basma. "Essays in international asset pricing and foreign exchange risk." Thesis, McGill University, 2003. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=84526.

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The purpose of this thesis is to provide new evidence on the pricing of foreign exchange risk in the stock market by testing international asset pricing models (IAPMs) under varying market structures and different exchange rate measures. It is composed of three essays. In the first essay, I test unconditional asset pricing models with exchange risk using country, portfolio and firm level data from nine emerging markets (EMs). It is shown that unlike the case for developed markets where unconditional tests often fail to detect a significant exchange risk premium in stock returns, exchang

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36

Scott, Jacoline. "Exchange rate volatility : an analytical risk model / J. Scott." Thesis, North-West University, 2004. http://hdl.handle.net/10394/2402.

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37

Drakos, K. S. "The dynamics of term structure risk and exchange rates." Thesis, University of Essex, 2000. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.313099.

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38

Shenbagaraman, Premalata. "Time-varying real exchange rate risk in emerging markets." Connect to resource, 1999. http://rave.ohiolink.edu/etdc/view.cgi?acc%5Fnum=osu1261243961.

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39

SANTOS, MARCELO BITTENCOURT COELHO DOS. "RISK PREMIUM EVIDENCES IN THE BRAZILIAN FOREIGN EXCHANGE MARKET." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2013. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=21911@1.

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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO<br>COORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR<br>PROGRAMA DE SUPORTE À PÓS-GRADUAÇÃO DE INSTS. DE ENSINO<br>Esta dissertação tem como objetivo buscar evidências de prêmio de risco a partir do mercado de opções e de futuro de dólar no Brasil. Para isso dois ensaios foram realizados: um que mede o prêmio de risco por volatilidade no mercado de opções e outro que mede o prêmio de risco cambial no mercado futuro. No primeiro caso, o prêmio é estimado como o excesso de retorno de um portfolio protegido. No segundo caso, o prêmio é

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40

Stoyanov, Zahari, and Saleem Ahmad. "Foreign Exchange-Rate Exposure of Swedish Firms." Thesis, Jönköping University, JIBS, Economics, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-740.

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<p>The main focus of the paper is the problem of exchange-rate exposure of Swedish firms between Jan, 1st 2002 and Sep, 27th 2006. Defined as “a measure of the potential for a firm’s profitability, net cash flow, market value to change because of a change in exchange rates”, the problem of exchange rate exposure is investigated, making use of the “Market Value Approach” (also known as “Stock Market Ap-proach”), with certain additional extensions. With Sweden being a very open economy with strong export orientation, we expected to find a greater number of firms showing significant ex-change rat

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41

Appelbaum, Matthew. "Does Pairs trading work on the Johannesburg Stock Exchange?" Master's thesis, University of Cape Town, 2015. http://hdl.handle.net/11427/20026.

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In this study it was examined whether Pairs trading is a potentially profitable trading strategy on the Johannesburg Stock Exchange. Pairs trading is a quantitative based trading strategy, in which shares are paired up based on a historic price relationship and traded accordingly, in a contrarian manner, when they diverge from said historical relationship. The essence of Pairs trading is to take advantage of perceived market inefficiencies, which is a direct contradiction of the Efficient Markets Hypothesis (even in its weak form). This study tested Pairs trading on both an unrestricted (any t

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42

Ivanova, Yuliya Rumenova. "Essays in foreign exchange." Diss., University of Iowa, 2015. https://ir.uiowa.edu/etd/1642.

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This thesis consists of three chapters and focuses on the relationship between foreign exchange rates and other areas of Finance. The first chapter is sole-authored and is titled `Foreign Exchange Rate Exposure and Corporate Policies.' The second chapter is coauthored work with Professor Emeritus Paul Weller, Assistant Vice President Chris Neely and Professor David Rapach and is titled `Can Risk Explain the Profitability of Technical Trading in Currency Markets.' The third chapter is titled `Foreign Exchange Movements and Cross-country Fund Allocation Decisions.' In the first chapter, I examin

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43

Ivanov, David. "Dynamics of Exchange Rates in Selected Emerging Markets in Risk-on/Risk-off Periods." Master's thesis, Vysoká škola ekonomická v Praze, 2017. http://www.nusl.cz/ntk/nusl-359882.

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This thesis focuses on exchange rates dynamics in Mexico, Turkey and South Korea. We examine the capital flow development in mentioned countries and currency dynamics of the Mexican Peso, Turkish Lira and Korean Won. The main goal of the paper is to evaluate the performance of these currencies in risk-on and risk-off episodes on a sample period from 1997 until 2016. We use analysis and comparison as a methodology for this paper, emphasizing on the relationship and causality between capital flow and exchange rates. We shall reveal that the examined currencies depreciate in risk-off periods and

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44

Barumwete, Lyna Alami, and Feiyi Rao. "Exchange rate risk in Automobile Industry: An Empirical Study on Swedish, French and German Multinational Companies." Thesis, Umeå University, Umeå School of Business, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-1788.

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<p>Recently, both company executives as well as national media have claimed that short currency exchange rate fluctuations are negatively affecting the stock returns of certain firms. However, most previous studies focusing on companies in the US and Asia have been unable to find empirical support for a statistically significant linkage between firm value and exchange rate risk. By using a quantitative method with a deductive approach,the present research investigates if currency exchange rate movements impact the stock return of European based car companies with market interests in the US. By

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45

Forrester, David Edward Economics Australian School of Business UNSW. "Market probability density functions and investor risk aversion for the australia-us dollar exchange rate." Awarded by:University of New South Wales. School of Economics, 2006. http://handle.unsw.edu.au/1959.4/27199.

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This thesis models the Australian-US Dollar (AUD/USD) exchange rate with particular attention being paid to investor risk aversion. Accounting for investor risk aversion in AUD/USD exchange rate modelling is novel, so too is the method used to measure risk aversion in this thesis. Investor risk aversion is measured using a technique developed in Bliss and Panigirtzoglou (2004), which makes use of Probability Density Functions (PDFs) extracted from option markets. More conventional approaches use forward-market pricing or Uncovered Interest Parity. Several methods of estimating PDFs from option

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46

Stålstedt, Erik. "Exchange Rate Risk : From a Portfolio Investors Point of View." Thesis, Jönköping University, JIBS, Economics, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-1012.

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<p>Due to globalization investors have increasing opportunities to invest on international markets for diversification purposes. This thesis illustrates the added risks of investing internationally due to volatile exchange rates. The purpose is to analyze how a volatile</p><p>exchange rate affect the risk and return of a portfolio invested in Sweden, when the investor is located in Japan, United Kingdom or the USA.</p><p>To analyze the effect of exchange rate volatility the focus is on a portfolio consisting of Swedish stocks from the Stockholm Stock Exchange (SSE) O-list. First the risk and r

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47

Chieh-YuLin and 林芥瑜. "Empirical Analysis on Exchange Risk Premiums and Equity Market Risks: Evidence from G8." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/04822516733739436945.

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碩士<br>國立成功大學<br>財務金融研究所<br>99<br>In a highly integration of world capital market, it is to be expected that shocks to one market would spill over to influence all other markets in the world. In this study, we investigate how the relative performance of the domestic and the foreign stock markets affect exchange rate returns. We use monthly data to discuss the relationship in G8 countries from October 1995 to July 2009. Using OLS method, we find that exchange rates of G8 countries tend to appreciate when the corresponding stock markets decline relative to the US stock market ex post. Using TSLS

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48

Yi-HsinHo and 何宜馨. "Empirical Analysis on Exchange Risk Premiums and Equity Market Risks ─ Evidence from Asian Emerging Countries." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/43661147326336462870.

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碩士<br>國立成功大學<br>財務金融研究所<br>98<br>This paper investigates how the relative performance of the domestic and the foreign equity markets affect the excess returns of foreign exchange returns for seven Asian Emerging stock markets. In all cases, higher average returns appear to be associated with a higher level of volatility. Testing the relationship between exchange rate premiums and relative equity returns by using OLS method, we find that the exchange rates tend to appreciate when the corresponding equity markets rise, implying massive of international “hot money” has been flowing into these eme

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Hsu, Shih-Cheng, and 許仕承. "The Effects of Interest Rate and Exchange Rate Risks on Unemployment." Thesis, 2002. http://ndltd.ncl.edu.tw/handle/39031374174807651660.

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碩士<br>中原大學<br>國際貿易研究所<br>90<br>When the rate of return on an individual’s savings is risky, the access to a labor market to work for a riskless wage provides a means of hedging this capital income risk by working more. In a non-expected utility maximizing framework using Selden’s OCE preference we investigate the effects of a change in the rate of return risk or the exchange rate of return risk on such precautionary labor supply decision. It is shown that an increase in the rate of return risk or the exchange rate of return risk leads to an increase (a decrease) in the optimal labor supply onl

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Yu, Che-Young, and 余哲仰. "The Asset Pricing Model with Exchange Risks: Evidence from Emerging Markets." Thesis, 2011. http://ndltd.ncl.edu.tw/handle/53899844178411532049.

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碩士<br>世新大學<br>財務金融學研究所(含碩專班)<br>99<br>For the growing dominance in international affairs following the rapid economic growth, it becomes more urgent to get insight into emerging markets. As a result, this paper investigates whether currency risk plays a role in emerging market returns and how important it is. After analyzing the performances of the seventeen emerging markets in the past decade, we find that: (1) these markets have integrated internationally; (2) major currency risk and local currency risk do affect the market returns whereas the local currency risk is more influential than maj

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