期刊名称：Freiberger Arbeitspapiere / Technische Universität Bergakademie Freiberg
出版年度：2005
卷号：2005
出版社：Technische Universität Bergakademie Freiberg, Fakultät für Wirtschaftswissenschaften
摘要：Corporations are affected by increasing volatilities on foreign exchange markets. A response
to this development was the creation of financial instruments, so called derivatives, in order to
protect corporations from the effects of flexible exchange rates. To understand the included
risks and to take correct decisions it is necessary to get a fundamental insight into exchange
rate risk management. First it is the aim of this paper to systemize the possibilities of deter-
mining exchange rate risk as well as objectives of exchange rate risk management. In the sec-
ond part of the paper a model to determine the optimal hedge ratio in the case of hedging
transaction risks with forwards is described.
关键词：Currency Risk, Transaction Risk, Currency Forwards, Optimal Hedg-
ing.
