Exchange Rate Risk Management: Evidence from East Asia

@inproceedings{Brown2001ExchangeRR,
  title={Exchange Rate Risk Management: Evidence from East Asia},
  author={Gregory W. Brown},
  year={2001}
}
The recent East Asian (EA) financial crisis provides a natural experiment for investigating foreign-exchange risk management by non-financial corporations. During this period, the financial crisis exposed local firms to large depreciations in exchange rates and decreased access to foreign capital. We explore the exchange rate hedging practices of firms that hedge foreign debt exposure in eight EA countries between 1996 and 1998. Our paper makes three primary contributions. First, we identify… CONTINUE READING

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