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                  <span class="slideshow-title" style="font-size:14px;">What makes firms manage foreign exchange risk?</span><br />
                  From: <a href="http://www.slideshare.net/simonJ" class="slideshow-author">simonJ</a>,
                  <span class="ago">4 months ago</span><br /><br />
                  <div class="slideshow-embed"><div style="width:425px;text-align:left" id="__ss_499097"><a style="font:14px Helvetica,Arial,Sans-serif;display:block;margin:12px 0 3px 0;text-decoration:underline;" href="http://www.slideshare.net/simonJ/what-makes-firms-manage-foreign-exchange-risk?type=powerpoint" title="What makes firms manage foreign exchange risk?">What makes firms manage foreign exchange risk?</a><object style="margin:0px" width="425" height="355"><param name="movie" value="http://static.slideshare.net/swf/ssplayer2.swf?doc=whatmakesfirmsmanageforeignexchanger-1215179409018202-9&stripped_title=what-makes-firms-manage-foreign-exchange-risk" /><param name="allowFullScreen" value="true"/><param name="allowScriptAccess" value="always"/><embed src="http://static.slideshare.net/swf/ssplayer2.swf?doc=whatmakesfirmsmanageforeignexchanger-1215179409018202-9&stripped_title=what-makes-firms-manage-foreign-exchange-risk" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="355"></embed></object><div style="font-size:11px;font-family:tahoma,arial;height:26px;padding-top:2px;">View SlideShare <a style="text-decoration:underline;" href="http://www.slideshare.net/simonJ/what-makes-firms-manage-foreign-exchange-risk?type=powerpoint" title="View What makes firms manage foreign exchange risk? on SlideShare">presentation</a> or <a style="text-decoration:underline;" href="http://www.slideshare.net/upload?type=powerpoint">Upload</a> your own. (tags: <a style="text-decoration:underline;" href="http://slideshare.net/tag/hedge">hedge</a> <a style="text-decoration:underline;" href="http://slideshare.net/tag/finance">finance</a>)</div></div></div><br /><br />
                  <div class="slideshow-description">I made a presentation about the following paper:<br /><br />Kim, Woochan and Sung, Taeyoon, "What Makes Firms Manage FX Risk?: Evidence from an Emerging Market" (December 2004). KDI School of Pub Policy & Management Paper No. 05-01. Available at SSRN: http://ssrn.com/abstract=653422<br />Abstract:<br />We examine a number of factors that determine the decision of firms to manage their foreign exchange risk in an emerging market setting. Using survey data on the foreign exchange risk management practices of 223 non-financial firms in Korea, we find that firm size, a proxy for the cost of hedging, is the dominant factor. Consistent with this finding, we also find that firm size has stronger explanatory power for external methods than for internal methods, which have relatively lower costs. Our results also show that, besides firm size, export revenue is an important factor for Korean firms when hedging foreign exchange risk. We find that this is particularly so for public firms, which are subject to various disclosure requirements, and which thus have more incentive to generate a stable stream of net income.<br />Keywords: Foreign exchange risk, hedging, foreign exchange market, emerging market, Korea.<br />http://simon-tobias-jochim.blogspot.com/2008/05/minor-finance.html</div><br /><br />
                  <a href="http://www.slideshare.net/simonJ/what-makes-firms-manage-foreign-exchange-risk" class="slideshow-link">SlideShare Link</a>
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CMP said 4 months Edit Delete

Simon Very interesting slideshow. Vote up from Carmen

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What makes firms manage foreign exchange risk?

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I made a presentation about the following paper:

Kim, Woochan and Sung, Taeyoon, "What Makes Firms Manage FX Risk?: Evidence from an Emerging Market" (December 2004). KDI School of Pub Policy & Management Paper No. 05-01. Available at SSRN: http://ssrn.com/abstract=653422
Abstract:
We examine a number of factors that determine the decision of firms to manage their foreign exchange risk in an emerging market setting. Using survey data on the foreign exchange risk management practices of 223 non-financial firms in Korea, we find that firm size, a proxy for the cost of hedging, is the dominant factor. Consistent with this finding, we also find that firm size has stronger explanatory power for external methods than for internal methods, which have relatively lower costs. Our results also show that, besides firm size, export revenue is an important factor for Korean firms when hedging foreign exchange risk. We find that this is particularly so for public firms, which are subject to various disclosure requirements, and which thus have more incentive to generate a stable stream of net income.
Keywords: Foreign exchange risk, hedging, foreign exchange market, emerging market, Korea.
http://simon-tobias-jochim.blogspot.com/2008/05/minor-finance.html

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Slide 1:Univ.-Prof. Dr. Oehler Univ.- Finanzwirtschaftliches Risikomanagement I Sommersemester 2007 Kurz-Vortrag 11 Kurz- Referent: Simon Jochim What makes firms manage FX risk? Kim/Sung (2005) in: Emerging Markets Review 6, p. 263-288
Slide 2: Agenda (1) Zielsetzung (2) Vorstellung des koreanischen Devisenmarktes (3) Vorgehen und Methodik (4) Ergebnisse und kritische Würdigung (5) Schlussfolgerungen Finanzwirtschaftliches Risikomanagment, Sommersemester 2007, Kurz-Vortrag 11, Referent Simon Jochim
Slide 3: Zielsetzung Fragestellung der Studie: Identifizierung derjenigen Faktoren, welche die Entscheidung eines Unternehmes für das Hedging von Währungsrisiken erklären Zeitraum: Keine Beachtung Datensatz: Fragebogen (2002) zum Währungsrisiko- Management

What makes firms manage foreign exchange risk?

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