Title: Döviz Riskinden Korunma Yöntemleri ve Kullanılma Nedenleri: İMKB Örneği
Abstract: (Exchange Risk Management Techniques and Usage Reasons: ISE Application) The first aim of this article is to underline the reasons of foreign currency derivatives and foreign currency debt usage which are the hedging strategies in developing markets. Other aim is to determine whether these strategies are complementary or alternative each other. By doing so, firstly which indicators present well reasons of foreign currency hedging. Used the data in this article belongs to 147 firms operating in the manufacturing sector and listed at the ISE in 2006. It is underlined that foreign currency hedging strategies are used by investigated companies. By using the same data set, the indicators about exchange-rate risk exposure of companies are formed. The relationship between the indicators gathered and foreign currency hedging strategies is measured by using multiple logistic regression analysis. The findings show that the most appropriate indicator about reasons of foreign currency hedging strategies is the foreign currency short position which is a measurement of exchange risk exposure. The other findings are that foreign currency derivatives usage and foreign currency debt usage are complementsary to each other concerning with the companies investigated.
Publication Year: 2009
Publication Date: 2009-01-01
Language: en
Type: article
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Cited By Count: 2
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