{"id":"https://openalex.org/W2174188059","doi":"https://doi.org/10.2469/faj.v51.n3.1900","title":"The Currency Hedging Decision: A Search for Synthesis in Asset Allocation","display_name":"The Currency Hedging Decision: A Search for Synthesis in Asset Allocation","publication_year":1995,"publication_date":"1995-05-01","ids":{"openalex":"https://openalex.org/W2174188059","doi":"https://doi.org/10.2469/faj.v51.n3.1900","mag":"2174188059"},"language":"en","primary_location":{"id":"doi:10.2469/faj.v51.n3.1900","doi":"https://doi.org/10.2469/faj.v51.n3.1900","is_oa":false,"landing_page_url":"https://doi.org/10.2469/faj.v51.n3.1900","pdf_url":null,"source":{"id":"https://openalex.org/S162525099","display_name":"Financial Analysts Journal","issn_l":"0015-198X","issn":["0015-198X","1938-3312"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Analysts Journal","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/A5065276537","display_name":"Gary L. Gastineau","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Gary L. Gastineau","raw_affiliation_strings":["Gary L. Gastineau is senior vice president, New Product Development, at the American Stock Exchange"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Gary L. Gastineau is senior vice president, New Product Development, at the American Stock Exchange","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5065276537"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":3.1274,"has_fulltext":false,"cited_by_count":83,"citation_normalized_percentile":{"value":0.91501227,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"51","issue":"3","first_page":"8","last_page":"17"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.6294000148773193,"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"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.6294000148773193,"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/T12276","display_name":"Risk Management in Financial Firms","score":0.3019999861717224,"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":0.023600000888109207,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/currency-hedging","display_name":"currency hedging","score":0.9980000257492065},{"id":"https://openalex.org/keywords/foreign-exchange-exposure","display_name":"foreign exchange exposure","score":0.7319999933242798},{"id":"https://openalex.org/keywords/asset-allocation","display_name":"asset allocation","score":0.9229999780654907},{"id":"https://openalex.org/keywords/liability-management","display_name":"liability management","score":0.8949999809265137},{"id":"https://openalex.org/keywords/hedging-rules","display_name":"hedging rules","score":0.6100000143051147},{"id":"https://openalex.org/keywords/foreign-exchange-risk","display_name":"exchange rate risk","score":0.4650000035762787}],"concepts":[{"id":"https://openalex.org/C141121606","wikidata":"https://www.wikidata.org/wiki/Q8142","display_name":"Currency","level":2,"score":0.7224436402320862},{"id":"https://openalex.org/C139819358","wikidata":"https://www.wikidata.org/wiki/Q462748","display_name":"Asset allocation","level":3,"score":0.5968917012214661},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.516456127166748},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.45814651250839233},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.44127795100212097},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.35624849796295166},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.32095617055892944},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.29625704884529114},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.17058274149894714},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.07266265153884888},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2469/faj.v51.n3.1900","doi":"https://doi.org/10.2469/faj.v51.n3.1900","is_oa":false,"landing_page_url":"https://doi.org/10.2469/faj.v51.n3.1900","pdf_url":null,"source":{"id":"https://openalex.org/S162525099","display_name":"Financial Analysts Journal","issn_l":"0015-198X","issn":["0015-198X","1938-3312"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-2","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Analysts Journal","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":7,"referenced_works":["https://openalex.org/W1883489266","https://openalex.org/W1903219595","https://openalex.org/W2055096672","https://openalex.org/W2067790650","https://openalex.org/W2163388377","https://openalex.org/W2890714735","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W2469592056","https://openalex.org/W632209173","https://openalex.org/W1983374164","https://openalex.org/W2461941464","https://openalex.org/W2608442475","https://openalex.org/W4367665082","https://openalex.org/W1601342752","https://openalex.org/W2778927117","https://openalex.org/W4410057359","https://openalex.org/W1508497334"],"abstract_inverted_index":{"Many":[0],"asset":[1,99],"allocation":[2],"and":[3,93,130,140,143,153,163,169,173,199,212,219],"liability":[4],"management":[5,124],"decisions":[6],"are":[7,29,80,147,203],"controversial,":[8],"but":[9,46,77,237],"the":[10,15,19,33,50,56,61,78,86,210,215,220,249,266],"decision":[11],"that":[12,35,65,182,260],"frequently":[13],"generates":[14],"most":[16,206],"debate":[17],"is":[18,125],"currency":[20,26,36,68,103,123,138,142,152,159,235,244,273],"hedging":[21,245],"decision.":[22],"Strong":[23],"feelings":[24],"on":[25,32,196],"exposure":[27],"policy":[28,69,236,256],"usually":[30],"based":[31],"conviction":[34],"exposures":[37],"should":[38],"be":[39,225],"determined":[40],"by":[41],"a":[42,66,128,134,233,240,252,263,271],"simple":[43,253],"mechanical":[44,75],"process,":[45],"not":[47,238],"everyone":[48],"advocates":[49],"same":[51],"process.":[52],"A":[53],"survey":[54],"of":[55,85,122,151,214,270],"leading":[57],"proposals":[58],"to":[59,73,106,232,239,247],"simplify":[60],"currency-management":[62],"process":[63],"suggests":[64,257],"baseline":[67,234],"may":[70],"lend":[71],"itself":[72],"some":[74],"rules,":[76],"rules":[79],"more":[81],"complex":[82],"than":[83],"any":[84,116,185],"widely":[87],"advocated":[88],"currency-hedging":[89,190,217],"policies":[90],"suggest.":[91],"Equity":[92],"fixed-income":[94],"managers,":[95],"as":[96,98,112],"well":[97],"allocators,":[100],"will":[101],"find":[102],"issues":[104],"easier":[105],"understand":[107,209],"if":[108,127,141],"they":[109,113],"view":[110,115],"currencies":[111],"would":[114],"other":[117],"financial":[118],"instrument.":[119],"The":[120,149,192,255],"importance":[121],"clearer":[126],"manager":[129,264],"client":[131],"start":[132],"from":[133,161],"50/50":[135],"hedged/":[136],"unhedged":[137],"benchmark":[139],"money":[144,154],"market":[145,155],"returns":[146,156],"combined.":[148],"combination":[150],"strips":[157],"primary":[158],"movements":[160],"stock":[162,172],"bond":[164,174],"returns,":[165],"clarifying":[166],"intermarket":[167],"correlations":[168],"creating":[170],"synthetic":[171],"futures":[175],"portfolios.":[176],"No":[177],"one":[178],"can":[179,208,224,261],"harbor":[180],"illusions":[181],"this":[183],"study-or":[184],"similar":[186],"effort-can":[187],"completely":[188],"eliminate":[189],"controversies.":[191],"argument":[193],"has":[194],"gone":[195],"too":[197,200],"long,":[198],"many":[201],"positions":[202],"ossified.":[204],"Nonetheless,":[205],"practitioners":[207],"strengths":[211],"weaknesses":[213],"various":[216],"viewpoints,":[218],"assumptions":[221],"behind":[222],"them":[223],"evaluated":[226],"dispassionately.":[227],"This":[228],"dispassionate":[229],"evaluation":[230],"leads":[231],"rigid":[241],"prescription":[242],"for":[243,251],"designed":[246],"satisfy":[248],"demand":[250],"rule.":[254],"an":[258],"approach":[259],"help":[262],"measure":[265],"cost":[267],"or":[268],"risk":[269],"specific":[272],"com":[274]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":7},{"year":2012,"cited_by_count":3}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}