Originally published as Managerial Finance, Volume 32, Issue 2
ISBN: 1 84544 891 X
Guest Edited by: Ahmed A. El-Masry
An increasingly important aspect of managerial finance, derivatives and risk management practices internationally can provide some important lessons. Issues in Sweden, Hong Kong, Singapore, the UK and the US are addressed in this e-book, along with references to exchange rate exposure, the use of options and stock returns of US banks.
Contents:
Corporate risk management in Hong Kong and Singapore
To better understand corporate risk management practice in Hong Kong and Singapore. To explore popular perception that use of derivatives in Hong Kong and Singapore lags that in the US. To explore possible speculative use of derivatives in these Asian countries.
Derivative usage by non-financial firms in Sweden 1996 and 2003: what has changed?
The purpose of this paper is to investigate Swedish non-financial firms’ use of derivatives in 2003 and to compare the results with an earlier study investigating Swedish firms in 1996. This comparison is motivated by our interest in if and how the derivative practices of firms have changed over the seven years that passed between the two surveys.
The exchange rate exposure of UK nonfinancial companies: industry level analysis
Financial theory predicts that a change in an exchange rate should affect the value of a firm or an industry. To a large extent, past research has not supported this theory, which is surprising especially after considering the substantial exchange rate fluctuations over the three decades. This study seeks to extend previous research on the foreign exchange rate exposure of UK nonfinancial companies at the industry level over the period 1981-2001.
Derivatives use and risk management practices by UK nonfinancial companies
In the last two decades, a number of studies have examined the risk management practices within nonfinancial companies. For instance, some studies report on the use of derivatives by nonfinancial firms. Yet, another group of researchers has investigated the determinants of corporate hedging policies. These and other studies of similar focus have made important contributions to the literature. This study sheds light on derivatives use and risk management practices in the UK market.
The use of options in corporate risk management
This paper investigates the motivations and practice of nonfinancial firms with regard to using options in their risk management activities.
The sensitivity of US banks' stock returns to interest rate and exchange rate changes
The purpose of this paper is to investigate the impact of foreign exchange and interest rate changes on US banks’ stock returns.
About Managerial Finanace
The journal aims to provide an international forum for the publication of high quality research in: finance, financial management, international finance, economics, banking, financial markets, financial institutions, financial strategy, accounting and management information.
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