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Journal articles on the topic 'Hedging'

Author: Grafiati

Published: 4 June 2021

Last updated: 25 July 2025

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1

Hadinata, Sofyan, and Diah Anggari Hardianti. "Variabel Fundamental Perusahaan Dalam Memprediksi Hedging Decision (Studi Perusahaan Automatif dan Komponen Serta Pertambangan Batubara Periode Tahun 2014-2017)." Akuntabilitas 12, no. 2 (2019): 179–90. http://dx.doi.org/10.15408/akt.v12i2.11823.

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One of the major risks facing multinational companies in international trade is the risk of fluctuations in foreign exchange rates. The company makes an effort to reduce the impact of these risks through risk management using a hedging decision. This study aims to test empirically the effect of the company's fundamental variables in predicting hedgings decision. Fundamental variables in this study use financial ratios, namely profitability, leverage, liquidity and growth opportunities. The data in the study used panel data from 2014 to 2017. This study used data analysis techniques using logis

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Dewi, Rohmatul Fitriyah, Ruqoyyah Amilia Andania, and Zuvyati Aryani Tlonaen. "Academic Literacy Practices: The Language of Hedging in Indonesian EFL Students' Essays." Inspiring: English Education Journal 7, no. 1 (2024): 1–13. http://dx.doi.org/10.35905/inspiring.v7i1.8961.

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Writing academically and reading are parts of literacy that it is embedded in higher education. Therefore, it is important to assess how students’ ability can develop critical thinking regarding specific issues using hedging language. The purpose of this study was to evaluate students' critical thinking skills by looking at how effectively they hedgingly constructed their writings. Moreover, this study also explored the students' viewpoints about the use of hedging in their academic pursuits. This research employed a qualitative approach. The data was collected from students’ essays from the E

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3

Brandt, Michael W. "Hedging Demands in Hedging Contingent Claims." Review of Economics and Statistics 85, no. 1 (2003): 119–40. http://dx.doi.org/10.1162/003465303762687758.

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4

Th. Vezeris, Dimitrios, Themistoklis S. Kyrgos, and Christos J. Schinas. "Hedging and non-hedging trading strategies on commodities using the d-Backtest PS method. Optimized trading system hedging." Investment Management and Financial Innovations 15, no. 3 (2018): 351–69. http://dx.doi.org/10.21511/imfi.15(3).2018.29.

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Modern trading systems are mechanic, run automatically on computers inside trading platforms and decide their position against the market through optimized parameters and algorithmic strategies. These systems now, in most cases, comprise high frequency traders, especially in the Forex market.In this research, a piece of software of an automatic high frequency trading system was developed, based on the technical indicator PIVOT (price level breakthrough). The system made transactions on hourly closing prices with weekly parameters optimization period, using the d-Backtest PS method.Through the

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Syahid, Abdurrahman, and Filia Filia. "Strategi Pemagaran dalam Ujaran Bahasa Jepang: Analisis Wawancara Jalanan Kanal Youtube Ask Japanese." KIRYOKU 7, no. 2 (2023): 86–98. http://dx.doi.org/10.14710/kiryoku.v7i2.86-98.

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This study reviews the hedging phenomena in Japanese speech found in street interview Ask Japanese. The hedging can be seen in interviewees’ answers to the interviewer’s questions. The data source used in this study is videos uploaded to Youtube by channel Ask Japanese. The reason for choosing such data source is that the videos are recorded impromptu, and thus, they show the realization of hedging in utterance naturally without any make-up. There are, in total, two videos of interview that is analyzed. The theories used are hedging as semantic phenomenon and hedging as pragmatic phenomenon. T

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De Angelis, David, and S. Abraham Ravid. "Input Hedging, Output Hedging, and Market Power." Journal of Economics & Management Strategy 26, no. 1 (2016): 123–51. http://dx.doi.org/10.1111/jems.12180.

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Jin, Chenjia. "Research on the Applications of Neural Network Algorithms in Deep Hedging." Applied and Computational Engineering 2, no. 1 (2023): 714–20. http://dx.doi.org/10.54254/2755-2721/2/20220659.

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Under market completeness assumptions, hedging a portfolio of derivatives is straightforward. In view of friction, transaction costs, liquidity and other factors, a framework is presented to extend the pricing and hedging with the hedging strategy treated as a neural network. We study the deep hedging model under incomplete market constraints such as frictions, traction cost, permanent impacts on the market and illiquidity. We discuss the limitations of certain models concerning the applications in deep hedging with constraints. After which, we analyse the advantages of different models and th

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8

Choi, Myoung Shik. "Currency risks hedging for major and minor currencies: constant hedging versus speculative hedging." Applied Economics Letters 17, no. 3 (2008): 305–11. http://dx.doi.org/10.1080/13504850701735757.

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Cong, Jianfa, Ken Seng Tan, and Chengguo Weng. "VAR-BASED OPTIMAL PARTIAL HEDGING." ASTIN Bulletin 43, no. 3 (2013): 271–99. http://dx.doi.org/10.1017/asb.2013.19.

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AbstractHedging is one of the most important topics in finance. When a financial market is complete, every contingent claim can be hedged perfectly to eliminate any potential future obligations. When the financial market is incomplete, the investor may eliminate his risk exposure by superhedging. In practice, both hedging strategies are not satisfactory due to their high implementation costs, which erode the chance of making any profit. A more practical and desirable strategy is to resort to the partial hedging, which hedges the future obligation only partially. The quantile hedging of Föllmer

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10

Bhatia, Nikhil, Roshan Srivastav, and Kasthrirengan Srinivasan. "Season-Dependent Hedging Policies for Reservoir Operation—A Comparison Study." Water 10, no. 10 (2018): 1311. http://dx.doi.org/10.3390/w10101311.

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During periods of significant water shortage or when drought is impending, it is customary to implement some kind of water supply reduction measures with a view to prevent the occurrence of severe shortages (vulnerability) in the near future. In the case of operation of a water supply reservoir, this reduction of water supply is affected by hedging schemes or hedging policies. This research work aims to compare the popular hedging policies: (i) linear two-point hedging; (ii) modified two-point hedging; and, (iii) discrete hedging based on time-varying and constant hedging parameters. A paramet

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11

Putri Angellita, Firda Tri Bidandari, and Dewi Susianti. "ANALISA LINDUNG NILAI ( HEDGING ) EVALUASI ATAS TRANSAKASI DERIVATIF PADA PERUSAHAAN PT. SURYA SEMESTA INTERNUSA TBK. PERIODE TAHUN 2019." Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis 3, no. 3 (2023): 329–34. http://dx.doi.org/10.55606/jaemb.v3i3.2033.

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Hedging is an important approach to managing financial risk in a corporate context. The purpose of hedging is to protect the company's value from fluctuations in prices, interest rates or other risks that could negatively impact the company's financial performance. This study aims to analyze hedging practices in the context of the company PT Surya Semesta Internusa Tbk. This research methodology uses secondary data analysis which includes financial reports, risk reports, and company hedging policies. The results show that PT Surya Semesta Internusa Tbk has adopted a proactive hedging approach

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Suryani, Suryani, and Muhammad Anwar Fathoni. "Lindung nilai (Hedging) perspektif Islam: Komparasi Indonesia dan Malaysia." INFERENSI: Jurnal Penelitian Sosial Keagamaan 11, no. 2 (2017): 351–72. http://dx.doi.org/10.18326/infsl3.v11i2.351-372.

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Islamic Hedging is one of the instruments in financial management that is used to reduce the risks associated with price and currency movements. But in a conventional perspective, hedging involves the use of controversial derivative instruments in Islamic view. The noble objective of this hedging has been misunderstood for profit only. Therefore, the concept of hedging needs further discussion because of various interpretations of the meaning of it. This study found that the concept of hedging according to Islam is different from the concept of conventional hedging. In addition, there are diff

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Sudiarta, Bernard Harland, and Ignatius Roni Setyawan. "DETERMINING FACTORS OF HEDGING DECISIONS IN INDONESIA STOCK EXCHANGE." Jurnal Muara Ilmu Ekonomi dan Bisnis 6, no. 1 (2022): 95. http://dx.doi.org/10.24912/jmieb.v6i1.11909.

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Penelitian ini bertujuan untuk menguji pengaruh leverage, likuiditas, peluang pertumbuhan, dan profitabilitas terhadap keputusan lindung nilai perusahaan pada perusahaan sektor manufaktur yang terdaftar di Bursa Efek Indonesia. Metode penentuan sampel dengan purposive sampling dengan jumlah sampel diperoleh sebanyak 99 perusahaan sektor manufaktur periode data 2015-2019. Teknik pengolahan data untuk menguji hipotesis alternatif dengan memakai Probit Model Binary Choice. Hal ini dikarenakan variabel dependen yang dipakai untuk hedging yang bersifat dummy yakni 1 (hedging) dan 0 (non hedging) se

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14

AN, YUNBI, ATA ASSAF, and JUN YANG. "HEDGING VOLATILITY RISK: THE EFFECTIVENESS OF VOLATILITY OPTIONS." International Journal of Theoretical and Applied Finance 10, no. 03 (2007): 517–34. http://dx.doi.org/10.1142/s0219024907004317.

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In this paper we focus on the performance of volatility options as hedging instruments for hedging volatility risk. We investigate (a) the relative hedging performance of volatility and European options, (b) the relative hedging performance of volatility index and straddle options, and (c) the impact of model misspecification on hedging effectiveness. Our focus is on exotic options as the options to be hedged, because they are more sensitive to volatility risk and model risk and practically more relevant when the effectiveness of different hedging strategies is examined. Using a Monte Carlo si

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15

Xiao, Minghua. "Comparative Study of Hedging Models in US." Highlights in Business, Economics and Management 10 (May 9, 2023): 256–63. http://dx.doi.org/10.54097/hbem.v10i.8049.

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This study focuses on the use of three dynamic hedging models in the American stock market, and it computes the dynamic correlation coefficient, dynamic hedging ratio, and hedging effectiveness of three common models (DCC, BEKK, CCC). This paper fills in the gaps in the application and comparison of three hedging models commonly used in the US stock market during the pandemic. The results showed that NASDAQ index and futures were highly correlated and had significant volatility spillover effect before and during the epidemic. The hedging efficiency of the three models before the epidemic was h

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16

Abubakar, Lastuti. "TRANSAKSI LINDUNG NILAI (HEDGING) DALAM PRAKTIK PERBANKAN DAN IMPLIKASINYA TERHADAP PEMBARUAN HUKUM KONTRAK NASIONAL." Rechtidee 11, no. 1 (2016): 84. http://dx.doi.org/10.21107/ri.v11i1.1964.

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<p><em>Krisis ekonomi dan moneter disebabkan oleh depresiasi nilai tukar yang tajam, sehingga mengakibatkan pelaku usaha dan pemerintah mengalami kesulitan dalam membayar utang luar negeri. Oleh karena itu diperlukan upaya pendalaman pasar melalui mekanisme hedging (lindung nilai) sebagai upaya mitigasi risiko fluktuasi nilai tukar. Otoritas moneter telah menerbitkan serangkaian aturan tentang lindung nilai (hedging) guna memberikan rambu bagi perbankan untuk memfasilitasi transaksi lindung nilai. Penelitian ini bertujuan untuk melihat manfaat transaksi lindung nilai, mengkaji kedu

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17

Kusumadewi, Hemalia, and Wishnu Mahendra Wiswayana. "MULTILEVEL HEDGING FOR MIDDLE-REGIONAL POWER: INDONESIA ASCENT TOWARD POWERHOOD THROUGH HEDGING." Indonesian Journal of International Relations 8, no. 2 (2024): 392–413. http://dx.doi.org/10.32787/ijir.v8i2.591.

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The aim of this research is to understand how a middle-regional power, such as Indonesia, uses hedging to serve its interests and to address the lack of literature on Indonesian power and hedging. This research applies the concepts of ‘multilevel hedging’ and ‘hedging behavior’, along with a literature review method, to comprehend Indonesia's status and its hedging strategy and motives. The findings of this research indicate that hedging is not only employed for insurance and risk mitigation, but also as a means to build power. It was observed that for Indonesia, hedging is a tool to both enha

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18

ANKIRCHNER, STEFAN, CHRISTIAN PIGORSCH, and NIKOLAUS SCHWEIZER. "ESTIMATING RESIDUAL HEDGING RISK WITH LEAST-SQUARES MONTE CARLO." International Journal of Theoretical and Applied Finance 17, no. 07 (2014): 1450042. http://dx.doi.org/10.1142/s0219024914500423.

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Frequently, dynamic hedging strategies minimizing risk exposure are not given in closed form, but need to be approximated numerically. This makes it difficult to estimate residual hedging risk, also called basis risk, when only imperfect hedging instruments are at hand. We propose an easy to implement and computationally efficient least-squares Monte Carlo algorithm to estimate residual hedging risk. The algorithm approximates the variance minimal hedging strategy within general diffusion models. Moreover, the algorithm produces both high-biased and low-biased estimators for the residual hedgi

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Kim, Young Sang. "Global Diversification and Hedging by High Technology Firms." Journal of Derivatives and Quantitative Studies 21, no. 4 (2013): 383–409. http://dx.doi.org/10.1108/jdqs-04-2013-b0002.

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This paper examines the operational hedging strategies of high technology firms and how they are related to financial hedging. We use a sample of 216 firms, consisting of 108 operationally-hedged high technology firms and a size and industry matched sample of 108 non-operationally-hedged firms. We find that derivatives users are larger and are more R&D intensive than non-derivative users. Our regression analysis results show that operational hedging and financial hedging are complementary. However, firms that use financial hedging are able to significantly lower their exchange rate exposur

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20

Guo, Zhidong, Yang Liu, and Linsong Dai. "European Option Pricing under Sub-Fractional Brownian Motion Regime in Discrete Time." Fractal and Fractional 8, no. 1 (2023): 13. http://dx.doi.org/10.3390/fractalfract8010013.

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In this paper, the approximate stationarity of the second-order moment increments of the sub-fractional Brownian motion is given. Based on this, the pricing model for European options under the sub-fractional Brownian regime in discrete time is established. Pricing formulas for European options are given under the delta and mixed hedging strategies, respectively. Furthermore, European call option pricing under delta hedging is shown to be larger than under mixed hedging. The hedging error ratio of mixed hedging is shown to be smaller than that of delta hedging via numerical experiments.

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Suprihandari, Miya Dewi, Mohammad Ali Masyhuri, and Pristiwantiyasih Pristiwantiyasih. "ANALISIS KINERJA KEUANGAN PERUSAHAAN SEKTOR INDUSTRI MANUFAKTUR YANG MELAKUKAN HEDGING DI BURSA EFEK INDONESIA." Media Mahardhika 17, no. 3 (2019): 500. http://dx.doi.org/10.29062/mahardika.v17i3.108.

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Tujuan penelitian ini adalah untuk menganalisis peningkatan kinerja keuangan dan ada tidaknya perbedaan secara signifikan antara perusahaan yang melakukan hedging dengan perusahaan yang tidak melakukan hedging. Obyek penelitian adalah perusahaan manufaktur yang melakukan hedging dan yang tidak melakukan hedging tahun 2012 sampai dengan tahun 2014 yang listed di Bursa Efek Indonesia. Perusahaan yang melakukan hedging berjumlah 20 perusahaan. Total sampel penelitian berjumlah 40 perusahaan manufaktur yang dipilih berdasarkan kriteria-kriteria yang telah ditentukan. Pengukuran kinerja keuangan de

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Gao, Xia, and Zhanxing Zhao. "A Minimum Variance Hedging Ratio Model Based on Nonlinear Grey Classification Model." Wireless Communications and Mobile Computing 2022 (February 28, 2022): 1–8. http://dx.doi.org/10.1155/2022/9848223.

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The risk transfer function of futures market is mainly realized by hedging strategy. Futures price yield and spot price yield tend to show different fluctuations before and during hedging, which leads to the distortion of hedging ratio, that is, the calculated hedging effect is weaker than the traditional hedging effect. On the basis of MV (minimum variance) hedging model, this paper introduces NGCM (nonlinear grey classification model) to solve the nonlinear correlation between futures and spot returns, which can improve the hedging effect. The results show that, due to the existence of basis

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Zuoyu, Wenjie, and Yifan Chen. "On the Legal Philosophical Foundation and Legal Nature of Emergency Hedging." Academic Journal of Management and Social Sciences 8, no. 2 (2024): 168–76. http://dx.doi.org/10.54097/d6ynwq88.

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The criminalization of emergency hedging has been going on for a long time. As early as in the Tang law of concentrated Chinese law system, there was the emergence of emergency hedging system. With the development of economy and society, more attention is paid to the protection of people's "freedom" and rights, and the process of criminalization of emergency hedging continues to mature, and the system positioning and legal nature of emergency hedging system have become the subject that the interpretation of criminal law must respond positively. This paper first analyzes the relevant concepts o

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Christoffel, Dominica Sanda Yohana, and Suparna Wijaya. "Efektivitas strategi hedging valuta asing dalam mitigasi risiko fluktuasi nilai tukar: Studi kasus PT Pertamina International Shipping." Jurnalku 5, no. 2 (2025): 184–92. https://doi.org/10.54957/jurnalku.v5i2.1645.

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Latar Belakang: Volatilitas nilai tukar Rupiah terhadap Dolar AS menimbulkan risiko signifikan bagi perusahaan dengan eksposur valuta asing, termasuk PT Pertamina International Shipping (PIS) yang beroperasi di sektor pelayaran internasional. Tujuan: Penelitian ini bertujuan menganalisis efektivitas strategi hedging valuta asing yang diterapkan PT PIS dalam mitigasi risiko fluktuasi nilai tukar periode 2021-2024. Metode: Penelitian ini menggunakan pendekatan kualitatif dengan metode studi kasus. Data dikumpulkan melalui analisis laporan keuangan, wawancara terstruktur dengan manajemen, dan obs

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Black, Fischer. "Universal Hedging." ICFA Continuing Education Series 1989, no. 5 (1989): 28–32. http://dx.doi.org/10.2469/cp.v1989.n5.6.

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Kritzman, Mark P. "Hedging Opportunities." ICFA Continuing Education Series 1989, no. 5 (1989): 39–46. http://dx.doi.org/10.2469/cp.v1989.n5.8.

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Mello, Antonio S., and John E. Parsons. "STRATEGIC HEDGING." Journal of Applied Corporate Finance 12, no. 3 (1999): 43–54. http://dx.doi.org/10.1111/j.1745-6622.1999.tb00029.x.

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Buehler, H., L. Gonon, J. Teichmann, and B. Wood. "Deep hedging." Quantitative Finance 19, no. 8 (2019): 1271–91. http://dx.doi.org/10.1080/14697688.2019.1571683.

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Krasker, William S. "Sequential Hedging." Management Science 31, no. 6 (1985): 657–63. http://dx.doi.org/10.1287/mnsc.31.6.657.

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Andelman, David A. "Hedging Disaster." World Policy Journal 31, no. 4 (2014): 120–29. http://dx.doi.org/10.1177/0740277514564954.

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F�llmer, Hans, and Peter Leukert. "Quantile hedging." Finance and Stochastics 3, no. 3 (1999): 251–73. http://dx.doi.org/10.1007/s007800050062.

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Chen, Nai-fu, and Herb Johnson. "Hedging options." Journal of Financial Economics 14, no. 2 (1985): 317–21. http://dx.doi.org/10.1016/0304-405x(85)90021-2.

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Madan, Dilip B. "Adapted hedging." Annals of Finance 12, no. 3-4 (2016): 305–34. http://dx.doi.org/10.1007/s10436-016-0282-8.

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Levi, Isaac. "HEDGING ACCEPTANCE." Computational Intelligence 10, no. 1 (2007): 70–76. http://dx.doi.org/10.1111/j.1467-8640.1994.tb00151.x.

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Branger, Nicole, Linda Sandris Larsen, and Claus Munk. "Hedging recessions." Journal of Economic Dynamics and Control 107 (October 2019): 103715. http://dx.doi.org/10.1016/j.jedc.2019.07.001.

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TSUZUKI, YUKIHIRO. "ON OPTIMAL SUPER-HEDGING AND SUB-HEDGING STRATEGIES." International Journal of Theoretical and Applied Finance 16, no. 06 (2013): 1350038. http://dx.doi.org/10.1142/s0219024913500386.

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This paper proposes optimal super-hedging and sub-hedging strategies for a derivative on two underlying assets without any specification of the underlying processes. Moreover, the strategies are free from any model of the dependency between the underlying asset prices. We derive the optimal pricing bounds by finding a joint distribution under which the derivative price is equal to the hedging portfolio's value; the portfolio consists of liquid derivatives on each of the underlying assets. As examples, we obtain new super-hedging and sub-hedging strategies for several exotic options such as qua

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Branger, Nicole, and Antje Mahayni. "Tractable hedging: An implementation of robust hedging strategies." Journal of Economic Dynamics and Control 30, no. 11 (2006): 1937–62. http://dx.doi.org/10.1016/j.jedc.2005.06.014.

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Fatturroyhan, Fatturroyhan, and Royyan Ramdhani Djayusman. "Islamic Hedging, Spekulasi atau Manajemen Risiko? (Analisis Kritik terhadap Islamic Hedging)." Jihbiz : jurnal ekonomi, keuangan dan perbankan syariah 1, no. 2 (2017): 113–24. http://dx.doi.org/10.33379/jihbiz.v1i2.712.

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Permasalahan fluktuatif nilai tukar mata uang menyebabkan tergeraknya para ekonom keuangan konvensional melaksanakan hedging dalam bentuk kontrak-kontrak derivatif untuk menghindari risiko yang diakibatkan dari fluktuasi mata uang. Para ekonom Muslim, dalam menawarkan reformasi hedging mainstream dengan menghilangkan unsur-unsur pelanggaran syari’ah dan memasukkan akad-akad syari’ah ke dalamnya. Namun demikian, apakah unsur-unsur penyebab dilarangnya hedging sudah dieliminasi secara menyeluruh. Tulisan ini mencoba mendiskusikan permasalahan Islamic hedging, untuk dapat menawarkan solusi dari p

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Adeloye, Adebayo J., and Bankaru-Swamy Soundharajan. "Effect of dynamically varying zone-based hedging policies on the operational performance of surface water reservoirs during climate change." Geological Society, London, Special Publications 488, no. 1 (2018): 277–89. http://dx.doi.org/10.1144/sp488.1.

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AbstractHedging is universally recognized as a useful operational practice in surface water reservoirs to temporally redistribute water supplies and thereby avoid large, crippling water shortages. When based on the zones of available water in storage, hedging has traditionally involved a static rationing (i.e. supply to demand) ratio. However, given the usual seasonality of reservoir inflows, it is also possible that hedging could be dynamic with seasonally varying rationing ratios. This study examined the effect of static and dynamic hedging policies on the performance of the Pong reservoir i

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Yun, Seok-Jun, Sun-Yong Choi, and Young Sung Kim. "Examining the hedge performance of US dollar, VIX, and gold during the coronavirus pandemic: Is US dollar a better hedge asset?" PLOS ONE 18, no. 10 (2023): e0291684. http://dx.doi.org/10.1371/journal.pone.0291684.

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This study utilizes the hedging potential of the U.S. Dollar Index (USDX) during the COVID-19 period, specifically comparing its positive effects on optimal portfolio weights and hedging ratios with those of traditional hedging assets, such as the VIX and gold. The scalar BEKK GARCH model is employed to forecast volatility and calculate hedging indicators. The results show that USDX exhibits strong hedging abilities against S&P 500 index volatility. These findings highlight the advantageous role of the USDX as a hedging instrument, particularly during periods of heightened market uncertain

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Prymostka, Liudmyla, Іryna Krasnova, Iryna Okhrymenko, Maksym Shchehliuk, and Andrii Prymostka. "DEVELOPMENT OF FINANCIAL RISK HEDGING STRATEGIES." Financial and credit activity problems of theory and practice 1, no. 54 (2024): 68–82. http://dx.doi.org/10.55643/fcaptp.1.54.2024.4251.

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The purpose of the study is to develop the theory of hedging, generalize approaches to the formation of effective risk hedging strategies, and provide recommendations for the implementation of international banks' experience in Ukrainian practice. It is proved that in the process of choosing effective strategies, it is advisable to distinguish three types of financial risk hedging: a) operational hedging (balance sheet) to ensure operational flexibility; b) market hedging (external), which involves the use of derivatives as instruments to hedge profit volatility; c) contract hedging (contractu

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Frensidy, Budi, and Tasya Indah Mardhaniaty. "The Effect of Hedging with Financial Derivatives on Firm Value at Indonesia Stock Exchange." Economics and Finance in Indonesia 65, no. 1 (2019): 20. http://dx.doi.org/10.47291/efi.v65i1.614.

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This study aims to analyze the effect of hedging for the risks of foreign currency, interest rate, and commodity price on firm value as measured by Tobin’s Q. The findings reveal that hedging with derivative instruments is insignificantly related to firm value but significantly varied in financial risks. Hedging for foreign currency risk has a significantly positive relation to firm value, while hedging for interest rate and commodity price risk has no relation. Furthermore, this study provides a novelty compared to previous studies in the utilization of the extent of hedging as the variable t

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Broll, Udo, Jack E. Wahl, and Christoph Wessel. "Export, Exchange Rate Risk and Hedging: The Duopoly Case." German Economic Review 12, no. 4 (2011): 490–502. http://dx.doi.org/10.1111/j.1468-0475.2011.00531.x.

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Abstract This paper studies a Cournot duopoly in international trade with firms exposed to exchange rate risk. A hedging opportunity is introduced by a forward market on which one firm can trade the foreign currency.We investigate two settings: First, we assume that hedging and output decisions are taken simultaneously. It is shown that hedging is exclusively done for risk-managing reasons as it is not possible to use hedging strategically. Second, the hedging decision is made before the output decisions. We show that hedging is not only used to manage the risk exposure but also as a strategic

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Teng, Ye. "Foreign Exchange Risk Analysis and The Futures Hedging Strategy Construction--- The Case Study of Amazon." Highlights in Business, Economics and Management 41 (October 15, 2024): 221–28. http://dx.doi.org/10.54097/sfhnt139.

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This paper explores the foreign exchange risk encountered by Amazon.com Inc. and proposes corresponding futures hedging strategies. With global market uncertainties, foreign exchange risk significantly impacts the financial performance of multinational companies like Amazon. The paper analyzes Amazon's foreign exchange risk factors, highlighting that the primary risks stem from international business revenues and holdings of foreign currency cash equivalents and marketable securities. Based on these risk factors, the study proposes several potential hedging strategies, including forward market

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Yu, Xing, Yanyin Li, and Zhongkai Wan. "Dynamic Currency Futures and Options Hedging Model." Mathematical Problems in Engineering 2019 (July 1, 2019): 1–11. http://dx.doi.org/10.1155/2019/8074384.

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In this paper, we consider a risk averse competitive firm that adopts currency futures and options for hedging purpose. Based on the assumption of unbiased markets of currency futures and options, we propose the optimal hedging model in dynamic setting. By using two-stage optimization method, we prove that it is desirable for the prudent enterprise to buy exchange rate options to hedge currency risk. Furthermore, we derive the closed-form solutions of the multiperiod hedging problem with the quadratic utility function. We investigate an empirical study incorporated into GARCH-t prediction on t

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Laras Anindya and Romel Noverino. "Hedging of Cooperative Principles in Bunker of the Dead Movie." International Journal of Linguistics, Literature and Translation 4, no. 5 (2021): 168–72. http://dx.doi.org/10.32996/ijllt.2021.4.5.17.

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Language is used in communication as a way to express their thoughts and feelings. Communication is how people use the message to give meaning to other people. Good communication happens when the speakers and the listeners can deliver their intended message clearly to understand each other. In communication, there is a theory called the cooperative principle. The cooperative principle is elaborated in four sub-principles or maxims. These maxims will make sure the information about the topic that is being discussed in the conversation clearer. However, some people sometimes communicate without

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Fadhila, Amalia Hasna, and Riwi Sumantyo. "DETERMINANTS OF FOREIGN CURRENCY HEDGING AND IT’S IMPACT ON FIRM VALUE." Journal of Applied Economics in Developing Countries 8, no. 2 (2023): 87. http://dx.doi.org/10.20961/jaedc.v8i2.79839.

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<p>Hedging through derivative instruments is a risk management action to reduce losses due to foreign exchange exposure. This research aims to examine the influence of liquidity, company size, leverage, growth opportunity, financial distress, profitability on company hedging decisions and to find out whether hedging activities have an effect on company value. The research sample consisted of 39 companies in the basic industry and chemical goods sector listed on the Indonesia Stock Exchange in 2014-2018. This research uses two stages of testing to analyze the data. The first stage uses lo

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Samsudin, Acep, Rusdi Hidayat, Dwi Wulan Suci, et al. "Penerapan Hedging di Perbankan Syariah sebagai Mitigasi Risiko Pasar Akibat Fluktuasi Kurs." El-Mujtama: Jurnal Pengabdian Masyarakat 3, no. 3 (2023): 804–10. http://dx.doi.org/10.47467/elmujtama.v3i3.2996.

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This research aims to determine the application of hedging in Islamic Banking Indonesia in mitigating the market risk resulting from fluctuations in foreign currency exchange rates. Researchers using qualitative methods, techniques Miles and Huberman Model. The object of this study is that adopted sharia hedging instrument of Conventional Banking products and prescribed and packaged in provisions DSN- MUI Fatwa No. 96/DSN-MUI/IV/2015, PBI 18/2/PBI/2016 and DPS Opinion No. 17/26/DPS/XII/2015 concerning the Proposed Transaction Hedging (Hedging) Sharia. The purpose and object of concern to resea

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Tsatsaronis, Michael. "Optimal hedging efficiency in global freight markets: Comparing FFAs and time charter strategies." Maritime Technology and Research 6, no. 3 (2024): 268609. http://dx.doi.org/10.33175/mtr.2024.268609.

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The paper aims to mitigate financial risk in highly volatile shipping freight markets by employing a dynamic hedging model. The primary criterion for evaluating the effectiveness of various methods for estimating optimal hedge ratios through Forward Freight Agreements (FFAs) is the minimum variance hedging rule. Four different methods are utilized to estimate two types of hedge ratios. The first type, a static hedge ratio, is calculated using the OLS and ECM methods. The second type, a time-varying hedge ratio, is determined through a bivariate GARCH model and a Rolling Window OLS method. Addi

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Rosalin, Feronika, Echi Kurniati, and Nurul Mardiyyah Pratiwi. "Pengaruh Leverage, Kebijakan Deviden, Dan Likuiditas Terhadap Keputusan Hedging Pada Perusahaan Badan Usaha Milik Negara (BUMN) Sub Sektor Kontruksi Bangunan Yang Terdaftar Di Bursa Efek Indonesia Periode 2017-2021." Jurnal Media Wahana Ekonomika 19, no. 4 (2023): 579–91. http://dx.doi.org/10.31851/jmwe.v19i4.11018.

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ABSTRAK   Keputusan hedging adalah suatu keputusan yang diambil perusahaan untuk melindungi nilai perusahaan dari risiko perubahan kurs. Faktor yang menentukan keputusan hedging adalah leverage, kebijakan deviden, dan likuiditas. Penelitian ini bertujuan untuk mengamati perkembangan dan faktor yang mempengaruhi serta melihat pengaruh leverage, kebijakan deviden, dan likuiditas terhadap keputusan hedging secara parsial dan simultan pada perusahaan Badan Usaha Milik Negara subsektor kontruksi bangunan yang terdaftar di Bursa Efek Indonesia. Jumlah populasi dalam penelitian ini adalah

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