Theses 

Currency risk management in an era of financial turmoil – Ing. Francesco Igino Gualano

česky | in English | slovensky

Agenda:
Změnit agendu. Adresa v ISu:

Ing. Francesco Igino Gualano

Diplomová práce

Currency risk management in an era of financial turmoil

Currency risk management in an era of financial turmoil

Abstract: This work focuses on the currency risk management in a period of financial crisis. Crisis are often characterized by volatility in the exchange rate and this means higher currency exposure for the firms in the short term. In the medium-long term, the trend of the exchange rate also impacts the firms’ profit margin. In the analytical part, different Czech firms (mainly exporters) are presented as real example of the impact of the exchange rate and the Value at Risk model (using historical simulations method first, and then Exponentially Weighted Moving Average) is also applied to a Czech company exporting in EUR. The results are in line with the thesis statement, namely the exchange rate volatility in the short term has a negative impact on the firms’ situation in terms of higher currency exposure, as found with the VaR method. In order to mitigate the currency exposure in the short term, firms should hedge the currency risk through derivative instruments, which are also described in the text. In the medium-long term, on the other hand, the firm should forecast the main trends of the exchange rate and take it into account in its strategic plan.

Keywords: Currency risk, currency exposure, exchange rate, transaction exposure, Purchase Power Parity, Interest rate parity, Fisher effect, financial crisis 2008, hedging, derivative instruments, volatility, Exponentially Weighted Moving Average, Value at Risk.

Jazyk práce: angličtina

Obhajoba závěrečné práce

  • Obhajoba proběhla 27. 6. 2013
  • Vedoucí: Ing. Petr Mach, Ph.D.
  • Oponent: MBA Jaromír Stemberg

Citační záznam

Citace dle ISO 690: LaTeX | HTML | text | BibTeX | Wikipedie

Plný text práce

Obsah online archivu závěrečné práce
Zveřejněno v Theses:
  • nikomu
Složka Odkaz na adresář do lokálního úložiště instituce
Jak jinak získat přístup k textu

Instituce archivující a zpřístupňující práci: Vysoká škola finanční a správní

Relevantní odkazy 


Nahoru | Aktuální datum a čas: 23. 4. 2019 22:28, 17. (lichý) týden

Soukromí

Kontakty: theses(zavináč/atsign)fi(tečka/dot)muni(tečka/dot)cz