Corporate use of innovative foreign exchange risk management products |
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| Institution: | 1. Department of Orthopaedic Surgery, New England Baptist Hospital, Tufts University School of Medicine, Boston, MA;2. Department of Orthopaedic Surgery, University of Arkansas for Medical Sciences, Little Rock, AR;3. Boston Sports and Shoulder Center, Waltham, MA;1. Department of Management, Economics and Quantitative Methods, University of Bergamo, Italy;2. School of Policy, Government and International Affairs, George Mason University, USA;3. Department of Management, Information, and Production Engineering, University of Bergamo, Italy;1. Programa de Pós-Graduação em Ecologia e Recursos Naturais, Laboratório de Ciências Ambientais, Centro de Biociências e Biotecnologia, Universidade Estadual do Norte Fluminense Darcy Ribeiro, Av. Alberto Lamego, 2000 – Parque Califórnia, CEP: 28013-602, Campos dos Goytacazes, Rio de Janeiro, Brazil;2. Programa de Pós-Graduação em Desenvolvimento Regional e Meio Ambiente, Laboratório de Biogeoquímica Ambiental Wolfgang C. Pfeiffer, Fundação Universidade Federal de Rondônia, Av. Pres. Dutra, 2967 – Olaria, CEP: 76801-059, Porto Velho, Rondônia, Brazil;3. Departamento de Ciências Sociais e Ambientais, Fundação Universidade Federal de Rondônia, Rodovia BR 425 - Km 2, 5 - Jardim das Esmeraldas, CEP: 76.850-000, Guajará-Mirim, Rondônia, Brazil;1. Department of Economics, Universidad Técnica Particular de Loja San Cayetano, Alto s/n Loja, Ecuador;2. Institute of Forest Management, TUM School of Life Sciences Weihenstephan, Technische Universität München, Hans-Carl-von-Carlowitz-Platz 2, 85354, Freising, Germany |
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| Abstract: | In today's competitive global markets, firms are threatened by the increasing exchange rate volatility. Over the last two decades, a plethora of new financial products has been introduced in the marketplace to help multinational corporate managers handle currency risks. In this study, the authors examine how extensive are the various major innovative foreign exchange products used by U.S. corporations, and categorize these products into three generations. They find that the popularity of the simpler, first-generation product (forward contracts) has not been overtaken by the sophisticated new entrants, and that the adoption of innovative foreign exchange risk management products is not as common as expected. |
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