• citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:1
  • full-text downloads in 30 days:0


article: 6 from 11  
Back back to result list
2012, vol. 5, iss. 1, pp. 91-100
Comparative analysis of currency risk protection instruments
University of Business Academy in Novi Sad, Faculty of economics and engineering management,
Keywords: exchange rate fluctuations; foreign exchange risk; hedging; financial derivates
The paper discusses the possibility of protecting enterprises against the risk of exchange rate fluctuations. If a company generates income in one currency and makes payments in another currency it is exposed to the risks of exchange rate changes. This research aims at highlighting the advantages and disadvantages of the application of certain financial derivatives to hedge exchange rate changes, while also touching upon possibilities of neutralizing these risks by using factoring business. The greater the difference between revenues in one currency and expenditures in another currency, the greater is the need to protect companies against foreign exchange risk or currency hedging. The use of financial derivatives cannot prevent negative events from happening. However, even when negative events happen, their impact will be significantly reduced.
*** (2008) Brošura Finansijski derivati. Udruženje banaka Srbije
Allayannis, G., Ofek, E. (2001) Exchange rate exposure, hedging, and the user of foreign currency derivatives. Journal of International Money and Finance, 20(2), str. 273-296
Bodi, Z., Kejn, A., Markus, A.J. (2009) Osnovi investicija. Beograd: Data status
Brili, R.A., Majers, S.K., Markus, A.Dž. (2010) Osnovi korporativnih finansija peto izdanje. Beograd: Mate
Damodaran, A. (2007) Korporativne finansije - teorija i praksa. Podgorica: Modus
Durbin, M. (2006) All abouth derivatives - the easy way to get started. New York: McGraw-Hill
Houthakker, H., Williamson, P. (1996) The economics of financial market. Oxford University Press
Hull, J.C. (1997) Options, futures and other derivatives. New Jersey: Prentice-Hall International
Hull, J.C. (1998) Introduction to futures and options markets. New York: Prentice Hall
Kovačević, R. (1997) Fjučersi, opcije i terminski poslovi. Beograd: Institut za spoljnu trgovinu
Mello, A.S., Parsons, J.E. (2000) Hedging and liquidity. Review of Financial Studies, 13(1), str. 127-153
Mishkin, F.S., Eakins, S.G. (2005) Finansijska tržišta i institucije. Zagreb: Mate
Robert, A., Jarrow, S., George, S. (1981) Oilfield: Forward and futures contracts. Journal of Financial Economics, 9, str.373
Šoškić, D.B., Živković, B. (2006) Finansijska tržišta i institucije. Beograd: Ekonomski fakultet
van Horne, J.C., Wachowicz, J.M. (2007) Osnovi finansijskog menadžmenta. Beograd: Data status
Veselinović, B., Vunjak, N. (2011) Poslovne finansije - teorija i praksa. Novi Sad: Fakultet za ekonomiju i inženjerski menadžment
Vunjak, N., Kovačević, L. (2009) Finansijska tržišta i berze. Bečej: Proleter
Vunjak, N.M. (2008) Finansijski menadžment poslovne finansije. Bečej: Proleter
Wilmott, P. (2008) Paul Wilmott Introduces Quantitative Finance. West Sussex, England: John Wiley & Sons Ltd


article language: Serbian
document type: Review Paper
published in SCIndeks: 22/03/2013