Currency Mismatches , Balance-Sheet Effects and Hedging in Chilean Non-Financial Corporations

@inproceedings{Hansen2005CurrencyM,
  title={Currency Mismatches , Balance-Sheet Effects and Hedging in Chilean Non-Financial Corporations},
  author={E. Hansen and Luis Oscar Herrera},
  year={2005}
}
Using a new database on the currency composition of assets and liabilities, this paper explores the determinants and consequences of currency mismatches in Chilean non-financial firms. As in previous firm level studies for Chile, we find that in periods following a depreciation firms with higher dollar debt do not underperform their peso counterparts. However, once we adequately control for differences in the currency composition of assets, income and net derivative positions, we do find a… CONTINUE READING

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