دانلود مقاله ISI انگلیسی شماره 45917
ترجمه فارسی عنوان مقاله

مواجهه با نرخ ارز : رویکرد بازار سرمایه در برابر رویکرد جریان نقدی

عنوان انگلیسی
Measurement of Exchange Rate Exposure: Capital Market Approach versus Cash Flow Approach ☆
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
45917 2015 6 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Procedia Economics and Finance, Volume 25, 2015, Pages 394–399

ترجمه کلمات کلیدی
مواجهه اقتصادی - مدل بازار سرمایه - مدل جریان نقدی
کلمات کلیدی انگلیسی
Economic exposure; Capital market model; Cash flow model
پیش نمایش مقاله
پیش نمایش مقاله  مواجهه با نرخ ارز : رویکرد بازار سرمایه در برابر رویکرد جریان نقدی

چکیده انگلیسی

Exchange rate exposure is the uncertainty created by the unintuitive movement in the exchange rates between the currencies. The exchange rate exposures can be categorized into three types 1. Transaction exposure; 2. Translation exposure; and 3. Economic exposure. Economic exposure is also called as residual risk and affects the firms long term cash flows. These exposures affects the firm value in many ways, therefore it is very important for the firms to manage the exposure. Measurement of the exposure becomes critical to manage the expsousre. In the literature we broadly see two methods used to measure the exposure. This study carried out the comparision between both the methods using the sample of 30 listed Indian firms. The results indicate that the cash flow model would be more useful to take strategic decisions to manage the economic exposure and also in the carrying out the further analysis.