Enterprise Risk Management with Foreign Exchange Exposures : Evidence from Taiwan Tourism Industry

Hsiao, Chiu Ming

doi:10.18488/journal.aefr.2017.79.882.906

Cited by 3 publications

(3 citation statements)

References 20 publications

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“…The coupling between the ST industries can be achieved because the two continue to influence and interact in the development process. It is usually mentioned that the degree of coordination refers to the degree of coupling correlation, which refers to the determination of whether there is a connection between the systems after measuring the distance between the static systems [9]. Here, the sports industry is represented by S, and the tourism industry is represented by T. U (x,r) and V (y,r) are used as functions to measure the development level of these two industries.…”

Section: The Degree Of Coupling Between the St Industrymentioning

confidence: 99%

Coupling Development of Sports Industry and Tourism Industry in Hunan Province in the Context of Supply-Side Structural Reform

2023

IJSSEM

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In the context of economic globalization and high-tech development, industrial integration is a new way of industrial development. It promotes the realization of the integration of the sports tourism (ST) industries and provides policy support for the integration of the two major industries. In order to promote the coupling between the ST industry in Hunan Province, this paper analyzes the development status of ST in Hunan Province, finds the driving force of the combination of ST in Hunan Province, and finds the most suitable development path and development model for Hunan Province. Secondly, based on the investment and output data of the five stages of Hunan Province from 2010 to 2020, and using the direct consumption indicators of the ST industries, it is concluded that the degree of integration of the ST industries in Hunan Province has continued to grow, and the degree of integration reached 10 in 2020.Finally, it is recommended that the Hunan Provincial Government should establish and improve a macro-guarantee system, build reasonable market demand, promote enterprises to further micro-cooperative relations, and promote the integration of ST industries. Therefore, the research on the coupling development of the ST industry in Hunan Province is particularly important in the context of supply-side structural reform.

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Section: The Degree Of Coupling Between the St Industrymentioning

confidence: 99%

Coupling Development of Sports Industry and Tourism Industry in Hunan Province in the Context of Supply-Side Structural Reform

2023

IJSSEM

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“…In this regard, Kim (2013) [9] introduced the optimal foreign exchange risk hedging solution by exploiting a standard portfolio theory. 3 Hsiao (2017) [7] applies the framework of Kim (2013) [9] to investigate the effects of foreign exchange exposures on the performance of Taiwan hospitality industry and try to propose some hedging strategies and strengthen their corporate risk management.…”

Section: Introductionmentioning

confidence: 99%

“…It is a non-hedging and to buy the foreign currency at time T. 6 The value of the put option was derived by Garman and Kohlhagen (1983) [5]. 7 See Diebold and Nason (1990) [3]…”

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confidence: 99%

Optimal Foreign Exchange Risk Hedging: Closed Form Solutions Maximizing Leontief Utility Function

Kim¹

2018

TEL

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In this paper, we extend Kim (2013) [9] for the optimal foreign exchange (FX) risk hedging solution to the multiple FX rates and suggest its application method. First, the generalized optimal hedging method of selling/buying of multiple foreign currencies is introduced. Second, the cost of handling forward contracts is included. Third, as a criterion of hedging performance evaluation, there is consideration of the Leontief utility function, which represents the risk averseness of a hedger. Fourth, specific steps are introduced about what is needed to proceed with hedging. There is a computation of the weighting ratios of the optimal combinations of three conventional hedging vehicles, i.e., call/put currency options, forward contracts, and leaving the position open. The closed form solution of mathematical optimization may achieve a lower level of foreign exchange risk for a specified level of expected return. Furthermore, there is also a suggestion provided about a procedure that may be conducted in the business fields by means of Excel.

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Economic Growth, CO2 Emissions Quota and Optimal Allocation under Uncertainty

Hsiao

2022

Sustainability

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This study attempts to link greenhouse gas emissions and economic development, and under the premise of considering economic development, proposes an optimal quota of greenhouse gas emissions. Based on the environmental Kuznets curve hypothesis, the logarithmic value of greenhouse gas emissions is an inverted U-shaped function of the logarithmic value of GDP per capita. The empirical results showed that most countries in the world support the Kuznets curve hypothesis. Moreover, using data collected from Our World in Data, the optimal allocation of a greenhouse gas emissions quota can be found by minimizing the uncertainty risk subject to a prespecified global economic growth rate. For government policymakers, they may apply the framework in this study to determine an optimal allocation of greenhouse gas emissions for each sector that will ensure the intended level of domestic economic growth.

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Enterprise Risk Management with Foreign Exchange Exposures : Evidence from Taiwan Tourism Industry

Cited by 3 publications

References 20 publications

Coupling Development of Sports Industry and Tourism Industry in Hunan Province in the Context of Supply-Side Structural Reform

Coupling Development of Sports Industry and Tourism Industry in Hunan Province in the Context of Supply-Side Structural Reform

Optimal Foreign Exchange Risk Hedging: Closed Form Solutions Maximizing Leontief Utility Function

Economic Growth, CO2 Emissions Quota and Optimal Allocation under Uncertainty

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