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Ein Analyseraster zur Bestimmung langfristiger Wechselkursrisiken von Unternehmen dargestellt am Beispiel der US-Dollar-Abwertung

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  • Bleuel, Hans-H.

    (Department of Economics of the Duesseldorf University of Applied Sciences)

Abstract

The US-Dollar has depreciated noticeably since the beginning of the year 2006. This depreciation changes the competitiveness of nations and corporations. This paper briefly presents the related exchange rate risks. Subsequently, the operating exposure is discussed, as this is the relevant foreign exchange risk in the long-term. A related issue in corporate risk management is to identify and quantify exchange rate risks. In this context a short guideline proposes an applied 3-step analysis. This DIR-Analysis investigates: direct exposures, indirect exposures and enterprise responses to changed fx-rates.

Suggested Citation

  • Bleuel, Hans-H., 2008. "Ein Analyseraster zur Bestimmung langfristiger Wechselkursrisiken von Unternehmen dargestellt am Beispiel der US-Dollar-Abwertung," Duesseldorf Working Papers in Applied Management and Economics 02, Duesseldorf University of Applied Sciences.
    • Handle: RePEc:ddf:wpaper:02
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    References listed on IDEAS

    as
    1. John J. Pringle, 1991. "Managing Foreign Exchange Exposure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 3(4), pages 73-82, January.
    2. Stefano Bonini & Maurizio Dallocchio & Philippe Raimbourg & Antonio Salvi, 2016. "Do firms hedge translation risks?," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 2, pages 155-178, December.
    3. Gordon M. Bodnar & Bernard Dumas & Richard C. Marston, 2002. "Pass‐through and Exposure," Journal of Finance, American Finance Association, vol. 57(1), pages 199-231, February.
    4. John J. Pringle & Robert A. Connolly, 1993. "The Nature And Causes Of Foreign Currency Exposure," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(3), pages 61-72, September.
    5. Bartram, Söhnke M. & Brown, Gregory W. & Minton, Bernadette A., 2010. "Resolving the exposure puzzle: The many facets of exchange rate exposure," Journal of Financial Economics, Elsevier, vol. 95(2), pages 148-173, February.
    6. Richard Friberg & Mattias Ganslandt, 2007. "Exchange Rates and Cash Flows in Differentiated Product Industries: A Simulation Approach," Journal of Finance, American Finance Association, vol. 62(5), pages 2475-2502, October.
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    Cited by:

    1. Bleuel, Hans-H., 2014. "Ökonomische Wechselkursrisiken: Relevanz, Bestimmung und Steuerung im russisch-deutschen Geschäftsverkehr [Foreign Exchange Risk: Relevance, Analysis and Management in German-Russian Business]," Duesseldorf Working Papers in Applied Management and Economics 25, Duesseldorf University of Applied Sciences.
    2. Bleuel, Hans-H., 2014. "Ökonomische Wechselkursrisiken: Relevanz, Bestimmung und Steuerung im russisch-deutschen Geschäftsverkehr
      [Foreign Exchange Risk: Relevance, Analysis and Management in German-Russian Business]      ," Duesseldorf Working Papers in Applied Management and Economics fobe25, Duesseldorf University of Applied Sciences.

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    More about this item

    Keywords

    ökonomisches Wechselkursrisiko; ökonomisches Währungsrisiko; Unternehmensplanung; Risikomanagement; Euro; operating exporsure; foreign exchange risk; corporate planning; hedging; simulation;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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