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Currency hedging for multinationals under liquidity constraints

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  • Meng, Rujing
  • Wong, Kit Pong

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  • Meng, Rujing & Wong, Kit Pong, 2007. "Currency hedging for multinationals under liquidity constraints," Journal of Multinational Financial Management, Elsevier, vol. 17(5), pages 417-431, December.
    • Handle: RePEc:eee:mulfin:v:17:y:2007:i:5:p:417-431
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    References listed on IDEAS

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    1. Wong, Kit Pong, 2006. "Foreign direct investment and forward hedging," Journal of Multinational Financial Management, Elsevier, vol. 16(5), pages 459-474, December.
    2. Kimball, Miles S, 1990. "Precautionary Saving in the Small and in the Large," Econometrica, Econometric Society, vol. 58(1), pages 53-73, January.
    3. Broll, Udo & Zilcha, Itzhak, 1992. "Exchange rate uncertainty, futures markets and the multinational firm," European Economic Review, Elsevier, vol. 36(4), pages 815-826, May.
    4. Christopher L. Culp & Merton H. Miller, 1995. "Metallgesellschaft And The Economics Of Synthetic Storage," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(4), pages 62-76, January.
    5. Culp Christopher L. & Miller Merton H., 1995. "Metallgesellschaft and the Economics of Synthetic Storage," Zeitschrift für Bankrecht und Bankwirtschaft (ZBB) / Journal of Banking Law and Banking (JBB), RWS Verlag, vol. 7(1), pages 2-14, March.
    6. Lien, Donald & Wong, Kit Pong, 2005. "Multinationals and futures hedging under liquidity constraints," Global Finance Journal, Elsevier, vol. 16(2), pages 210-220, December.
    7. René M. Stulz, 1996. "Rethinking Risk Management," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(3), pages 8-25, September.
    8. Kimball, Miles S, 1993. "Standard Risk Aversion," Econometrica, Econometric Society, vol. 61(3), pages 589-611, May.
    9. Wong, Kit Pong, 2003. "Currency hedging with options and futures," European Economic Review, Elsevier, vol. 47(5), pages 833-839, October.
    10. Tufano, Peter, 1996. "Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry," Journal of Finance, American Finance Association, vol. 51(4), pages 1097-1137, September.
    11. Gordon M. Bodnar & Gregory S. Hayt & Richard C. Marston, 1998. "1998 Wharton Survey of Financial Risk Management by US Non-Financial Firms," Financial Management, Financial Management Association, vol. 27(4), Winter.
    12. Kawai, Masahiro & Zilcha, Itzhak, 1986. "International trade with forward-futures markets under exchange rate and price uncertainty," Journal of International Economics, Elsevier, vol. 20(1-2), pages 83-98, February.
    13. Kit Pong Wong, 2003. "Export Flexibility And Currency Hedging," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(4), pages 1295-1312, November.
    14. Katz, Eliakim & Paroush, Jacob, 1979. "The effect of forward markets on exporting firms," Economics Letters, Elsevier, vol. 4(3), pages 271-274.
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    Cited by:

    1. Broll, Udo & Wahl, Jack E., 2011. "Liquidity constrained exporters and trade," Economics Letters, Elsevier, vol. 111(1), pages 26-29, April.
    2. Wong, Kit Pong, 2016. "Ambiguity and the multinational firm," International Review of Economics & Finance, Elsevier, vol. 43(C), pages 404-414.
    3. Broll, Udo & Wahl, Jack E., 2009. "Liquidity constrained exporters: Trade and futures hedging," Dresden Discussion Paper Series in Economics 17/09, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    4. Broll, Udo & Welzel, Peter & Wong, Kit Pong, 2014. "Multinational firm, exchange rate risk and the impact of regret on trade," Dresden Discussion Paper Series in Economics 04/14, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.

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