Managing in the turbulent world economy: corporate performance and risk exposure
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Chichester [u.a.]
Wiley
1997
|
| Schlagwörter: | |
| Links: | http://www.loc.gov/catdir/toc/onix03/97001101.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016833823&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Beschreibung: | Literaturverz. S. [211] - 214 |
| Umfang: | X, 225 S. graph. Darst. |
| ISBN: | 0471974749 |
Internformat
MARC
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Datensatz im Suchindex
| _version_ | 1819261666427142144 |
|---|---|
| adam_text | CONTENTS
Preface ix
1 Management in an integrated world 1
1.1 Introduction 1
1.2 The macroeconomic environment of the firm 6
1.3 What level of concern? 13
1.4 The contents of this book 15
Endnotes 16
2 Concepts of macroeconomic risk and exposure 17
2.1 Introduction 17
2.2 Corporate risk — a brief review of the
concept 18
2.3 Corporate risks: who cares? 22
2.4 Macroeconomic risks 27
2.5 What could be gained from a
risk-management programme? 31
2.6 Risk management and the creation of options 33
2.7 Concluding remarks on the conceptual issue
of risk and exposure 36
Endnote 37
3 Traditional approaches to measuring macroeconomic
exposures 39
3.1 Introduction i9
3.2 From transactions exposure to economic
exposure 40
3.3 Translation exposure 49
3.4 From translation exposure to economic
exposure 52
3.5 Does the translation method matter? 54
vi Contents
3.6 A comparison of exchange rate exposure
measures 55
3.7 Interest rate exposure measures 60
3.8 Concluding remarks on traditional
exposure measures 67
Appendix 3.1 Measuring translation exposure under
FASB 8 and FASB 52: an example 68
Appendix 3.2 Purchasing Power Parity and real
exchange rates 73
Appendix 3.3 International Fisher Parity 80
Endnotes 85
4 Measuring macroeconomic impact on the firm — a
comprehensive approach 87
4.1 Introduction 87
4.2 Determinants of cash flow exposure 89
4.3 Estimating cash flow exposure 95
4.4 Decomposing cash flow exposure 105
4.5 The share price and macroeconomic fluctuations 106
4.6 Concluding remarks on the comprehensive
approach 107
Endnotes 108
5 Measuring macroeconomic exposure — the case
of Volvo Cars 111
5.1 Introduction 111
5.2 Exposure coefficients 113
5.3 The choice of dependent variable 114
5.4 The choice of independent variables and
time horizon 118
5.5 Volvo Cars 120
5.6 Results, interpretations, and the use of
coefficients 127
5.7 Using the exposure coefficients for
future periods 135
5.8 Concluding remarks on the case of Volvo Cars 140
Endnotes 142
6 Hedging macroeconomic exposures 143
6.1 Introduction 143
Contents vii
6.2 Derivative contracts and transactions
exposure — an overview 144
6.3 Practices in managing translation exposure 151
6.4 Hedging interest rate and inflation risks 156
6.5 Hedging macroeconomic exposure in
market price variables 161
6.6 Hedging with uncertain exposure using
derivatives 169
6.7 Taxes and hedge contracts 173
6.8 Concluding remarks on approaches to
hedge macroeconomic uncertainty 176
Endnotes 178
7 Strategies for exposure management 179
7.1 Introduction 179
7.2 Choice of target variable and time horizon 181
7.3 The firm s and management s risk attitude 184
7.4 Price adjustment in goods and
financial markets 185
7.5 Choice of exposure management strategies 187
7.6 Information requirements 191
7.7 Adjustability of commercial operations —
real options 193
7.8 Concluding remarks on the choice of strategy 196
Endnotes 197
8 Macroeconomic uncertainty strategy (MUST)
analysis — a summary 199
8.1 Introduction 199
8.2 Shortcomings of traditional methods 201
8.3 Measures of corporate performance and
exposure assessment 202
8.4 Elements of MUST analysis 204
References 211
Index 215
|
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| author | Oxelheim, Lars 1944- Wihlborg, Clas |
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| id | DE-604.BV023512121 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T13:21:32Z |
| institution | BVB |
| isbn | 0471974749 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016833823 |
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| owner_facet | DE-521 DE-11 DE-188 |
| physical | X, 225 S. graph. Darst. |
| publishDate | 1997 |
| publishDateSearch | 1997 |
| publishDateSort | 1997 |
| publisher | Wiley |
| record_format | marc |
| spellingShingle | Oxelheim, Lars 1944- Wihlborg, Clas Managing in the turbulent world economy corporate performance and risk exposure Risk management Risk assessment Strategic planning Macroeconomics Wirtschaftsentwicklung (DE-588)4066438-7 gnd Strategische Planung (DE-588)4309237-8 gnd Unternehmen (DE-588)4061963-1 gnd Risikomanagement (DE-588)4121590-4 gnd Risikoanalyse (DE-588)4137042-9 gnd Makroökonomie (DE-588)4037174-8 gnd |
| subject_GND | (DE-588)4066438-7 (DE-588)4309237-8 (DE-588)4061963-1 (DE-588)4121590-4 (DE-588)4137042-9 (DE-588)4037174-8 |
| title | Managing in the turbulent world economy corporate performance and risk exposure |
| title_auth | Managing in the turbulent world economy corporate performance and risk exposure |
| title_exact_search | Managing in the turbulent world economy corporate performance and risk exposure |
| title_full | Managing in the turbulent world economy corporate performance and risk exposure Lars Oxelheim ; Clas Wihlborg |
| title_fullStr | Managing in the turbulent world economy corporate performance and risk exposure Lars Oxelheim ; Clas Wihlborg |
| title_full_unstemmed | Managing in the turbulent world economy corporate performance and risk exposure Lars Oxelheim ; Clas Wihlborg |
| title_short | Managing in the turbulent world economy |
| title_sort | managing in the turbulent world economy corporate performance and risk exposure |
| title_sub | corporate performance and risk exposure |
| topic | Risk management Risk assessment Strategic planning Macroeconomics Wirtschaftsentwicklung (DE-588)4066438-7 gnd Strategische Planung (DE-588)4309237-8 gnd Unternehmen (DE-588)4061963-1 gnd Risikomanagement (DE-588)4121590-4 gnd Risikoanalyse (DE-588)4137042-9 gnd Makroökonomie (DE-588)4037174-8 gnd |
| topic_facet | Risk management Risk assessment Strategic planning Macroeconomics Wirtschaftsentwicklung Strategische Planung Unternehmen Risikomanagement Risikoanalyse Makroökonomie |
| url | http://www.loc.gov/catdir/toc/onix03/97001101.html http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016833823&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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