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Publikationstyp: Beitrag in wissenschaftlicher Zeitschrift
Art der Begutachtung: Peer review (Publikation)
Titel: The role of managerial characteristics in FX risk management : who increases risk?
Autor/-in: Hecht, Andreas
et. al: No
DOI: 10.1007/s11846-020-00432-x
10.21256/zhaw-28171
Erschienen in: Review of Managerial Science
Band(Heft): 15
Heft: 8
Seite(n): 2377
Seiten bis: 2406
Erscheinungsdatum: 2021
Verlag / Hrsg. Institution: Springer
ISSN: 1863-6683
1863-6691
Sprache: Englisch
Schlagwörter: Foreign exchange; Derivatives; Risk management; Speculation; Managerial characteristics
Fachgebiet (DDC): 332.6: Investition
Zusammenfassung: We examine the impact of managerial characteristics on the choice of risk-decreasing and risk-increasing/-constant strategies. Using unique data on firm-, year-, and currency-specific FX exposure before and after hedging with corresponding hedging instruments, we are able to measure how much a CEO has been involved in risk-increasing/-constant strategies over several years. We provide evidence that firms where the CEO has an MBA degree and is older are more likely to engage in risk-increasing/-constant strategies. In addition, we find that a CEO’s affiliation to the owner’s family seems to reduce the amount of derivatives a firms uses, while hedging short tends to increase derivative volumes.
URI: https://digitalcollection.zhaw.ch/handle/11475/28171
Volltext Version: Publizierte Version
Lizenz (gemäss Verlagsvertrag): CC BY 4.0: Namensnennung 4.0 International
Departement: School of Management and Law
Organisationseinheit: Institut für Financial Management (IFI)
Enthalten in den Sammlungen:Publikationen School of Management and Law

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Hecht, A. (2021). The role of managerial characteristics in FX risk management : who increases risk? Review of Managerial Science, 15(8), 2377–2406. https://doi.org/10.1007/s11846-020-00432-x
Hecht, A. (2021) ‘The role of managerial characteristics in FX risk management : who increases risk?’, Review of Managerial Science, 15(8), pp. 2377–2406. Available at: https://doi.org/10.1007/s11846-020-00432-x.
A. Hecht, “The role of managerial characteristics in FX risk management : who increases risk?,” Review of Managerial Science, vol. 15, no. 8, pp. 2377–2406, 2021, doi: 10.1007/s11846-020-00432-x.
HECHT, Andreas, 2021. The role of managerial characteristics in FX risk management : who increases risk? Review of Managerial Science. 2021. Bd. 15, Nr. 8, S. 2377–2406. DOI 10.1007/s11846-020-00432-x
Hecht, Andreas. 2021. “The Role of Managerial Characteristics in FX Risk Management : Who Increases Risk?” Review of Managerial Science 15 (8): 2377–2406. https://doi.org/10.1007/s11846-020-00432-x.
Hecht, Andreas. “The Role of Managerial Characteristics in FX Risk Management : Who Increases Risk?” Review of Managerial Science, vol. 15, no. 8, 2021, pp. 2377–406, https://doi.org/10.1007/s11846-020-00432-x.


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