Foreign debt as a hedging instrument of exchange rate risk: a new perspective

This paper analyzes the factors that determine the use of foreign currency debt to hedge currency exposure for a sample of 96 Spanish non-financial companies listed in 2004. Unlike previous empirical studies, which have attempted to explain the use of foreign currency debt using arguments stemming e...

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Bibliographic Details
Published in:The European journal of finance 2010-10, Vol.16 (7), p.677-710
Main Authors: González, Luis Otero, Búa, Milagros Vivel, López, Sara Fernández, Santomil, Pablo Durán
Format: Article
Language:English
Subjects:
Capital structure
capital theories
Currencies
Currency
Currency swaps
Debt
Decisions
Derivatives
exchange rate risk
External debt
Finanzmarkt
foreign currency debt
Foreign economic policy
Foreign exchange rate risk
Foreign exchange rates
Hedges
Hedging
hedging theories
Innovation
Internationale Staatsschulden
Investment
Investment policy
Kapitalstrukturtheorie
Money
Psychological distress
R&D
Research & development
Research and development
Risk
Spanien
Währungsrisiko
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