{"id":"https://openalex.org/W2013047142","doi":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","title":"Cross\u2010Hedging of Exchange\u2010Rate Risk","display_name":"Cross\u2010Hedging of Exchange\u2010Rate Risk","publication_year":1996,"publication_date":"1996-10-01","ids":{"openalex":"https://openalex.org/W2013047142","doi":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","mag":"2013047142"},"language":"en","primary_location":{"id":"doi:10.1111/j.1467-9396.1996.tb00104.x","doi":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","pdf_url":null,"source":{"id":"https://openalex.org/S71783669","display_name":"Review of International Economics","issn_l":"0965-7576","issn":["0965-7576","1467-9396"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of International Economics","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5111652329","display_name":"\u0423\u0434\u043e \u0411\u0440\u043e\u043b\u043b","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I189712700","display_name":"University of Konstanz","ror":"https://ror.org/0546hnb39","country_code":"DE","type":"education","lineage":["https://openalex.org/I189712700"]}],"countries":["DE"],"is_corresponding":true,"raw_author_name":"Udo Broll","raw_affiliation_strings":["Broll: University of Konstanz. Postfach 5560. D-78434 Konstanz. Germany. Tel: 7531-88-2557","Broll: University of Konstanz. Postfach 5560. D-78434 Konstanz. Germany. Tel: 7531-88-2557. Fax: 7531-88-4119. Email: Udo.broll@Uni.konstanzd"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Broll: University of Konstanz. Postfach 5560. D-78434 Konstanz. Germany. Tel: 7531-88-2557","institution_ids":["https://openalex.org/I189712700"]},{"raw_affiliation_string":"Broll: University of Konstanz. Postfach 5560. D-78434 Konstanz. Germany. Tel: 7531-88-2557. Fax: 7531-88-4119. Email: Udo.broll@Uni.konstanzd","institution_ids":["https://openalex.org/I189712700"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5022041603","display_name":"Bernhard Eckwert","orcid":"https://orcid.org/0000-0001-6767-3304","observed_orcids":["https://orcid.org/0000-0001-6767-3304"]},"institutions":[{"id":"https://openalex.org/I2610724","display_name":"Chemnitz University of Technology","ror":"https://ror.org/00a208s56","country_code":"DE","type":"education","lineage":["https://openalex.org/I2610724"]}],"countries":["DE"],"is_corresponding":true,"raw_author_name":"Bernhard Eckwert","raw_affiliation_strings":["Eckwert: Univcrsity of Chemnitz. Reichenhainer Strasse 30, D-09107 Chemnitz. Germany. Tcl: 371-531-4231","Eckwert: Univcrsity of Chemnitz. Reichenhainer Strasse 30, D-09107 Chemnitz. Germany. Tcl: 371-531-4231. Fax: 531-3970. Email: B.Eckwert@wirtschaft.tuchemnitz.de The authors wish to thank the referees for valuable commenmts"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Eckwert: Univcrsity of Chemnitz. Reichenhainer Strasse 30, D-09107 Chemnitz. Germany. Tcl: 371-531-4231","institution_ids":["https://openalex.org/I2610724"]},{"raw_affiliation_string":"Eckwert: Univcrsity of Chemnitz. Reichenhainer Strasse 30, D-09107 Chemnitz. Germany. Tcl: 371-531-4231. Fax: 531-3970. Email: B.Eckwert@wirtschaft.tuchemnitz.de The authors wish to thank the referees for valuable commenmts","institution_ids":["https://openalex.org/I2610724"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5022041603","https://openalex.org/A5111652329"],"corresponding_institution_ids":["https://openalex.org/I189712700","https://openalex.org/I2610724"],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":23.6189,"has_fulltext":false,"cited_by_count":16,"citation_normalized_percentile":{"value":0.99130236,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":93},"biblio":{"volume":"4","issue":"3","first_page":"282","last_page":"286"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cross-hedging","display_name":"cross-hedging","score":0.9869999885559082},{"id":"https://openalex.org/keywords/foreign-exchange-risk","display_name":"exchange rate risk","score":0.8970000147819519},{"id":"https://openalex.org/keywords/forward-markets","display_name":"forward markets","score":0.7770000100135803},{"id":"https://openalex.org/keywords/separation-theorem","display_name":"separation theorem","score":0.7509999871253967},{"id":"https://openalex.org/keywords/risk-averse-firms","display_name":"risk-averse firms","score":0.8320000171661377},{"id":"https://openalex.org/keywords/international-firms","display_name":"international companies","score":0.6150000095367432}],"concepts":[{"id":"https://openalex.org/C70771513","wikidata":"https://www.wikidata.org/wiki/Q235779","display_name":"Hedge","level":2,"score":0.8722866773605347},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7146004438400269},{"id":"https://openalex.org/C165705269","wikidata":"https://www.wikidata.org/wiki/Q1542397","display_name":"Foreign exchange risk","level":3,"score":0.6657291650772095},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.638477623462677},{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.6223918795585632},{"id":"https://openalex.org/C38904191","wikidata":"https://www.wikidata.org/wiki/Q744762","display_name":"Forward contract","level":3,"score":0.47623565793037415},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.4542919993400574},{"id":"https://openalex.org/C95982191","wikidata":"https://www.wikidata.org/wiki/Q3338729","display_name":"Market neutral","level":3,"score":0.42502760887145996},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4091241955757141},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.33749860525131226},{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.15729454159736633},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/j.1467-9396.1996.tb00104.x","doi":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-9396.1996.tb00104.x","pdf_url":null,"source":{"id":"https://openalex.org/S71783669","display_name":"Review of International Economics","issn_l":"0965-7576","issn":["0965-7576","1467-9396"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-1","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of International Economics","raw_type":"journal-article"},{"id":"pmh:hdl:10068/213176","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10068/213176","pdf_url":null,"source":{"id":"https://openalex.org/S4377196900","display_name":"OpenGrey (Institut de l'Information Scientifique et Technique)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1295345811","host_organization_name":"Institut de l'Information Scientifique et Technique","host_organization_lineage":["https://openalex.org/I1295345811"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"I - Miscellaneous"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":8,"referenced_works":["https://openalex.org/W1560294045","https://openalex.org/W2006314093","https://openalex.org/W2056886615","https://openalex.org/W2058663402","https://openalex.org/W2084933449","https://openalex.org/W2330929635","https://openalex.org/W4239076180","https://openalex.org/W4249289645"],"related_works":["https://openalex.org/W2039676250","https://openalex.org/W640464839","https://openalex.org/W2064667459","https://openalex.org/W1537814785","https://openalex.org/W7098671643","https://openalex.org/W2146115214","https://openalex.org/W1992875804","https://openalex.org/W1966331763","https://openalex.org/W1512827817","https://openalex.org/W2080020098"],"abstract_inverted_index":{"For":[0],"currencies":[1],"with":[2],"highly":[3],"developed":[4],"forward":[5,25,58,72],"markets":[6,26,59,73],"a":[7,34,37,61],"well\u2010known":[8],"separation":[9],"theorem":[10],"holds":[11],"which":[12],"implies":[13],"that":[14,67],"international":[15],"firms":[16],"fully":[17],"hedge":[18,86],"the":[19,24,48,52,57,68,80,83,88],"exchange":[20],"rate":[21],"risk":[22,54],"if":[23],"are":[27,44],"unbiased.":[28],"In":[29],"this":[30],"paper":[31],"we":[32],"present":[33],"model":[35],"of":[36,60,70],"risk\u2010averse":[38],"firm":[39,49,81],"when":[40],"perfect":[41],"hedging":[42],"instruments":[43],"not":[45,75],"available.":[46],"Instead":[47],"can":[50],"cross\u2010hedge":[51],"exchange\u2010rate":[53],"by":[55],"using":[56],"third":[62],"country's":[63],"currency.":[64],"We":[65],"demonstrate":[66],"unbiasedness":[69],"all":[71,87],"does":[74],"imply":[76],"full":[77],"hedge,":[78],"although":[79],"has":[82],"option":[84],"to":[85],"risks.":[89]},"counts_by_year":[{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}