Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms

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Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms. / Aabo, Tom; Høg, Esben; Kuhn, Jochen.

In: Journal of Multinational Financial Management, Vol. 20, No. 4-5, 2010, p. 235-250.

Research output: Contribution to journal/Conference contribution in journal/Contribution to newspaperJournal articleResearchpeer-review

Harvard

Aabo, T, Høg, E & Kuhn, J 2010, 'Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms', Journal of Multinational Financial Management, vol. 20, no. 4-5, pp. 235-250. https://doi.org/10.1016/j.mulfin.2010.08.002

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Author

Aabo, Tom ; Høg, Esben ; Kuhn, Jochen. / Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms. In: Journal of Multinational Financial Management. 2010 ; Vol. 20, No. 4-5. pp. 235-250.

Bibtex

@article{a9b6a440b41b11dfa47c000ea68e967b,
title = "Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms",
abstract = "Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of import in medium-sized manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and the use of foreign exchange derivatives on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure created by foreign sales activities.",
keywords = "Integrated Foreign Exchange Risk Management, Import, Medium-Sized Firms",
author = "Tom Aabo and Esben H{\o}g and Jochen Kuhn",
year = "2010",
doi = "10.1016/j.mulfin.2010.08.002",
language = "English",
volume = "20",
pages = "235--250",
journal = "Journal of Multinational Financial Management",
issn = "1042-444X",
publisher = "Elsevier BV",
number = "4-5",

}

RIS

TY - JOUR

T1 - Integrated Foreign Exchange Risk Management: The Role of Import in Medium-Sized, Manufacturing Firms

AU - Aabo, Tom

AU - Høg, Esben

AU - Kuhn, Jochen

PY - 2010

Y1 - 2010

N2 - Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of import in medium-sized manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and the use of foreign exchange derivatives on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure created by foreign sales activities.

AB - Empirical research has focused on export as a proxy for exchange rate exposure and the use of foreign exchange derivatives as an instrument to deal with this exposure. This empirical study applies an integrated foreign exchange risk management approach with a particular focus on the role of import in medium-sized manufacturing firms in Denmark (a small, open economy). We find a strong, negative relation between import and the use of foreign exchange derivatives on the aggregate level. Our findings are consistent with the notion that firms use import to match the foreign exchange exposure created by foreign sales activities.

KW - Integrated Foreign Exchange Risk Management

KW - Import

KW - Medium-Sized Firms

U2 - 10.1016/j.mulfin.2010.08.002

DO - 10.1016/j.mulfin.2010.08.002

M3 - Journal article

VL - 20

SP - 235

EP - 250

JO - Journal of Multinational Financial Management

JF - Journal of Multinational Financial Management

SN - 1042-444X

IS - 4-5

ER -