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Digital
Library of the European Council for Modelling and Simulation |
Title: |
Determinants Of FX-Risk Management Evidence Of
Hungary |
Authors: |
Barbara Doemoetoer, Erzsebet Kovacs |
Published in: |
(2017).ECMS 2017 Proceedings
Edited by: Zita Zoltay Paprika,
Péter Horák, Kata Váradi, Péter Tamás Zwierczyk, Ágnes Vidovics-Dancs, János Péter Rádics European Council for Modeling and Simulation. doi:10.7148/2017 ISBN:
978-0-9932440-4-9/ ISBN:
978-0-9932440-5-6 (CD) 31st European Conference on Modelling and Simulation, Budapest, Hungary, May 23rd
– May 26th, 2017 |
Citation
format: |
Barbara
Doemoetoer, Erzsebet
Kovacs (2017). Determinants Of FX-Risk Management Evidence Of Hungary, ECMS
2017 Proceedings Edited by: Zita Zoltay Paprika, Péter Horák, Kata Váradi, Péter Tamás Zwierczyk, Ágnes Vidovics-Dancs, János Péter Rádics European Council for Modeling and Simulation. doi: 10.7148/2017-0113 |
DOI: |
https://doi.org/10.7148/2017-0113 |
Abstract: |
This
paper investigates the motives of FX-risk management based on the changes of
forward open positions of Hungarian corporations. We have found that
Hungarian companies are significantly more exposed in short EUR forward
position, than in EUR long one. Our linear regression model also showed that
changing market conditions have an essentially higher impact on the EUR short
positions. Our results confirmed that expectations are determining in the
risk hedging decisions proving that financial risk management also has a
speculative motive. |
Full
text: |