Schiozer, Rafael F.; Saito, Richard - In: Emerging Markets Finance and Trade 45 (2009) 1, pp. 49-71
This paper investigates the determinants of currency risk management in nonfinancial firms in Argentina, Brazil, Chile, and Mexico, based on a panel data sample of firms that list as American depositary receipts from 2001 to 2004. Our evidence indicates that derivatives held for hedging purposes...