Titlebook: Exchange Rates and the Firm; Strategies to Manage Richard Friberg Book 1999 Palgrave Macmillan, a division of Macmillan Publishers Limited

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Conclusion: Why Study the Dark Side?,or operating exposure change is the likelihood that relevant (real) exchange rates will become much more predictable in most industries. There is less exchange rate risk. You should not put the book down, however, without reading the present chapter. Remember that economists are pretty much nonpluss

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https://doi.org/10.1057/9781137567338, Spain and Portugal, today has an accounting exposure.This exposure will obviously disappear if all three countries take part in a monetary union. Similarly the basic issue is simple for firms outside EMU — a Swedish or US firm having a German subsidiary will have accounting exposure to the euro instead of to the D-mark.

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Economic Exposurethe present discounted value of expected future cash flows. Since economic exposure is concerned with cash flows and the value of the firm, the reasons for hedging that we mentioned in Chapter 4 are potentially important.

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Accounting Exposure and EMU, Spain and Portugal, today has an accounting exposure.This exposure will obviously disappear if all three countries take part in a monetary union. Similarly the basic issue is simple for firms outside EMU — a Swedish or US firm having a German subsidiary will have accounting exposure to the euro instead of to the D-mark.

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tting currency, when and how to adjust prices, the limitations of hedging and segmentation of national markets are some of the issues analyzed. The book investigates the impact of EMU.978-1-349-41053-8978-0-333-98237-2

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https://doi.org/10.1007/978-3-319-05609-8As in Part II, we begin with taking a look at contractual exposure. We then proceed to take a broad view of how economic exposure will change, before going into the details of eeconomic and operating exposure such as market segmentation and choice of price-setting currency.