• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Management research review >The usage of currency derivatives in multilateral banks
【24h】

The usage of currency derivatives in multilateral banks

机译：货币衍生品在多边银行中的使用

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Purpose - The purpose of this paper is to investigate the extent to which multilateral banks (MBs) use currency derivatives (CDs) to hedge and speculate in managing currency risk. It aims to provide an empirical assessment of CDs products used by MBs as a group not studied before. Design/methodology/approach - Quantitative hypothesis regarding the usage of CDs to minimize adverse impact of currency risk was tested using z test about population proportion. Findings - The results show that MBs are using CDs in the following order of importance: currency swaps, currency forwards, currency options and currency futures primarily to hedge currency risk. Research limitations/implications - The results of the study can be generalized only for MBs, given their peculiar characteristics as wholesale banks, which are owned mainly by governments and are generally not listed in the stock exchanges. Originality/value - The study is of value to those interested in the multilateral banking industry. The authors acknowledge that it is the first study providing empirical evidence on CDs' usage by MBs as a group. The results are particularly useful to managers of MBs in terms of helping them to make choices in usage of CDs. The paper has also policy implications in terms of justifying the current self-regulatory status, shareholder monitoring and governance of MBs, as they do not speculate with CDs.
机译：目的-本文的目的是研究多边银行（MBs）在多大程度上使用货币衍生工具（CD）进行对冲和投机以管理货币风险。它旨在提供对MB以前从未研究过的CD产品的经验评估。设计/方法/方法-关于CD的使用以使货币风险的不利影响最小化的定量假设使用有关人口比例的z检验进行了检验。调查结果-结果显示，甲基溴按以下重要顺序使用CD：货币掉期，货币远期，货币期权和货币期货，主要是为了对冲货币风险。研究的局限性/意义-鉴于MB的批发银行特有的特征，因此研究结果只能归纳为MB，这些银行主要由政府所有，并且通常未在证券交易所中列出。原创性/价值-该研究对那些对多边银行业感兴趣的人具有价值。作者承认，这是第一项为MB群体使用CD提供CD的经验证据的研究。对于帮助MB经理选择CD的使用方式，结果特别有用。该文件在证明目前的自我监管状态，股东对甲基溴的监管以及公司治理方面也具有政策意义，因为它们没有与CD进行猜测。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号