Forex Risk Management by SMEs and Unlisted Non-financial Firms: A Literature Survey
| dc.contributor.author | Aman Chugh | |
| dc.contributor.author | Renuka Sharma | |
| dc.contributor.author | Kiran Mehta | |
| dc.date.accessioned | 2026-01-13T09:41:07Z | |
| dc.date.available | 2026-01-13T09:41:07Z | |
| dc.date.issued | 2017-10 | |
| dc.description.abstract | In the recent globalised financial markets, financial markets are more integrated which leads to more foreign exchange risk for firms. In such scenario currency derivatives are top most operational hedging strategy to manage foreign exchange risk. This scenario is different in developed and emerging markets as turnover of derivatives is growing swiftly in emerging markets and uses of currency derivatives is common but lower in comparison to the interest rate derivatives. In emerging markets (Hong Kong, Singapore and Brazil) use of currency derivatives is fifty per cent of total derivative traded follow by equity derivatives and interest rate derivatives (Mihaljek and Packer, 2010). The benefits of doing hedging have been discussed by many finance experts. These include classic contribution by Miller and Modigliani (1958) and then by Smith and Stulz (1985). Several studies have employed the questionnaire approach for the analysis of exchange-rate exposure management in non-financial firms (e.g. Bodnar and Gebhardt, 1999; Hakkarainen et al., 1998; Bodnar et al., 1998; Marshall, 2000; Ceuster et al., 2000; Mallin et al., 2001). The most refered study is Bodnar et al. (1998), which considered publicly traded U.S. firms. The present study examines the forex risk management by SMEs and unlisted non-financial forms in the form of literature review. | |
| dc.identifier.issn | 0976-545X | |
| dc.identifier.issn | 2456-3226 | |
| dc.identifier.other | https://doi.org/10.15415/jtmge.2017.82002 | |
| dc.identifier.uri | https://demodspace.chitkara.edu.in/handle/123456789/420 | |
| dc.language.iso | en | |
| dc.publisher | Chitkara University Publications | |
| dc.subject | Forex risk | |
| dc.subject | Currency derivatives | |
| dc.subject | Hedging Instruments | |
| dc.subject | SMEs | |
| dc.subject | fx risk management | |
| dc.subject | foreign exchange management in india | |
| dc.title | Forex Risk Management by SMEs and Unlisted Non-financial Firms: A Literature Survey | |
| dc.type | Article |