.... Kuntara Pukthuanthong can be contacted at: kpukthua@mail.sdsu.edu © Emerald Group Publishing Limited 2007 Random processes Futures markets Currency options A growing body of research indicates that the random walk hypothesis (RWH) approximately describes the behavior of major dollar...

... firms alter the size or timing of hedges based on their own view of future market movements. Glaum (2002) surveys exchange risk management practices of 74 German non‐financial firms and finds that the majority of these firms follow a forecast‐based selective risk management strategy. Currency...