Oil price volatility is one of the major sources of risk impacting Iranian oil revenues. Stabilization of the oil revenues through hedging is necessary for sustaining a stable economy. Petroleum stock derivatives are of interest for hedging oil price volatility. The hedging instruments studied...

We examine the impact of the won/dollar and won/yen fluctuations on the returns of the individual firms and their symmetries based on the data from January 5, 1987 to December 28, 2001 in the Korean stock market. Daily data turn out to be a better explanatory power in detecting exchange rate...