Managerial Finance


Accounting and Finance

Table Of Contents: Volume 17 Issue 4

Conventional Hedging: An Inadequate Response to Long‐Term Foreign Exchange Exposure

Robert Grant, Luc A. Soenen

Since the demise of the Bretton Woods System of quasi‐fixed exchange rates in the early seventies, unanticipated exchange rate movements are a fundamental feature of the…

Foreign Exchange Management: New Opportunities and a New Perspective

Christine R. Hekman

Foreign exchange exposure management has traditionally been viewed by corporate line management as a specialized and arcane corporate function. From its organizational…

Management of Accounting Exposure to Currency Changes: Role and Evidence of Agency Costs

Raj Aggarwal

This paper contends that, contrary to conventional wisdom, it may be rational to manage translation exposure. Accounting procedures for the translation of foreign currency…

Use of Currency Options to Enhance Exchange Rate Forecasts

Jeff Madura, Alan L. Tucker, Emilio Zarruk

Since the early 1980s, currency options have become a popular means for hedging foreign currency positions or speculating on anticipated movements in exchange rates. Yet…

ECU Spot Rates, Interest Rates and Yields: Are There Arbitrage Opportunities?

Piet Sercu

Facts vs Fantasies about the ECU. Advantages frequently ascribed to the ECU include the following:



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  • Professor Don Johnson