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National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Internal exchange rate risk management techniques with application to import-oriented company
 Malý, Jan ; Brůna, Karel (advisor) ; Čermáková, Daniela (referee)
The work is focused on exchange rate risk, its description and typical situations in which firms have to face to the uncertainty caused by variability of exchange rates. It specifies selected internal (operational) techniques which are used to manage exchange rate risk as well. These methods are connected with financial management of companies and it is possible to apply these techniques to every size of company. The principle and the implementation of internal methods might be tighter to smaller companies. These companies do not know a lot about a wide scale of instruments of financial market, so hedging through external methods may not be suitable. Internal methods contrary to external are also suitable for hedging economic exposure (substantial part of the work is focused on economic exposure). In response to current events, exchange rate risk is also discussed in connection with continuing economic depression and pending fiscal situation of the countries which are part of euro area. In analytic part the work is focused on a Czech import-oriented firm which purchases machines from Taiwanese suppliers for euro and dollars and consequently sells these goods in the Czech market mostly in Czech koruna. In some cases the firm negotiates invoicing in euro. Currency mismatch of receipts and payments gives rise to exchange rate risk. In addition, firm's business contracts are specific to high nominal value and longer maturity. With the growth of these two parameters increases exchange rate risk.
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Managing the exchange rate risk on the example of import-oriented firm
 Garšicová, Beata ; Brůna, Karel (advisor) ; Blaheta, Petr (referee)
The thesis describes the methods of managing the exchange rate risk for the firms. It theoretically characterizes the risk, the reasons for hedging and the possible strategies and hedging practices. It focuses on internal methods, as well as hedging with derivatives. It deals with the different types of exposures and their importance for companies. Practical part brings the example of a concrete import-oriented firm. The company has both economic and translation exposure which are described in details. Apart from that, the thesis brings some improvements in current hedging strategy of the company.
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