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Financial Swaps

In: GLOBAL CORPORATE FINANCE A Focused Approach

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  • Suk H. Kim

Abstract

A swap is an agreement between two parties, called counterparties, who exchange sets of cash flows over a period of time in the future. When exchange rates and interest rates fluctuate, the risks of forward and money market positions are so great that the forward market and the money market may not function properly. Currency futures and options are inflexible and available only for selected currencies. In such cases, multinational companies (MNCs) and governments may use swap arrangements to protect the value of export sales, import orders, and outstanding loans denominated in foreign currencies…

Suggested Citation

  • Suk H. Kim, 2023. "Financial Swaps," World Scientific Book Chapters, in: GLOBAL CORPORATE FINANCE A Focused Approach, chapter 6, pages 137-154, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811281969_0006
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    More about this item

    Keywords

    Global Finance; International Finance; International Financial Management; International Accounting; International Business; International Business Finance; Foreign Trade; International Economics; Foreign Exchange; International Corporate Finance; Multinational Finance; International Taxation;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • F3 - International Economics - - International Finance
    • F30 - International Economics - - International Finance - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F - International Economics

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