Title :
Foreign Exchange Risk Measurement and Management of Chinese Listed Companies--Take Firms in Copper Industry as an Example
Author :
Li Ju ; Chen Feixiang
Author_Institution :
Sch. of Econ. & Manage., Tongji Univ., Shanghai, China
Abstract :
This paper measures nominal foreign exchange exposure in listed companies in copper industry first, but finds little statistically significant as previous studies did. Then, exchange rate movements are decomposed into expected and unexpected components, so as to explain the change of companies´ value much better. Finally, the strategic hedging is suggested instead of financial hedging policies.
Keywords :
copper; foreign exchange trading; metallurgical industries; risk analysis; strategic planning; Chinese listed companies; copper industry; foreign exchange risk measurement; strategic hedging policy; Companies; Copper; Correlation; Exchange rates; Fluctuations; Industries;
Conference_Titel :
Management and Service Science (MASS), 2010 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-5325-2
Electronic_ISBN :
978-1-4244-5326-9
DOI :
10.1109/ICMSS.2010.5577155