Καθολική αντιστάθμιση συναλλαγματικού κινδύνου μέσω κοινών παραγόντων κινδύνου
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Keywords
Ισοτιμία ; Συναλλαγματικός κίνδυνος ; Αντιστάθμιση ; Διακύμανση ; Έκθεση μετάφρασης ; Έκθεση συναλλαγής ; Παράγωγα ; Προθεσμιακό συμβόλαιο (forward) ; Δικαίωμα προαίρεσης (option)Abstract
In the current Master’s thesis, we examine the concept of exchange rate exposure
from the accountant’s perspective. Finding the appropriate way to translate foreign
currency assets and liabilities of a company in local currency values, is a crucial
concern for accountants. We initially analyze what exactly is called “risk”, how
companies can manage it and which are the categories of risk with special
reference to currency risk. We explain what FOREX is, how it works and refer to
the four principal translation methods, current – noncurrent method, monetary –
nonmonetary, current – noncurrent and temporal method. By using a company as
example, we analyze the classic available hedging techniques, how an accountant
can manage the translation exposure and also refer to a dynamically hedging
foreign currency approach, implemented by Wei Opie and Steven J. RIddiough.