Export Production and Imperfect Hedging

Jack E. Wahl and Udo Broll

Swiss Journal of Economics and Statistics (SJES), 1995, vol. 131, issue III, 559-566

Abstract: International firms have an incentive for risk management due to the enormous volatility of the floating foreign exchange rates. Often firms must cross hedge since in reality, not every currency is traded in a futures market. That is, the exporting firm uses futures whose value is highly correlated with the foreign exchange spot rate. The aim of our study is to examine the role of such imperfect hedging on the exporting firm's production and risk management decision.

Date: 1995
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