We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a depreciation...

This paper examines the influence of institutional differences on risk management practices in the US and the Netherlands. This comparison is interesting because the Dutch firms' institutional setting differs from the US setting with respect to shareholder orientation, international trade,...

Deze studie onderzoekt het derivatengebruik en de risicomanagementpraktijken van Nederlandse bedrijven.Tevens wordt het derivatengebruik van Nederlandse bedrijven met dat van Amerikaanse bedrijven vergeleken.Aan alle Nederlandse beursgenoteerde niet-financiele bedrijven is een enquete...

This paper tests the influence of institutional differences on risk management practices.Several survey studies have investigated derivatives usage for risk management purposes in the US (see, among others, Bodnar, Hayt, Marston and Smithson, 1995 and Bodnar, Hayt and Marston, 1996, 1998).In...