Schüle, Ulrich (2003) Exchange rate mechanism and internationalisation strategies of multinational companies. In: Globalization and Entrepreneurship: Fears, Challenges and Opportunities, 24-26.4.2003, Pula, Croatia.
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Sažetak
Dramatic fluctuations in exchange rates between the US-Dollar, European (DM-based) currencies, and the Japanese Yen forced Japanese and European companies to replace their export-oriented internationalization by FDI. Although MNCs may reduce their short-term “transaction risk” of exchange rate fluctuations by hedging instruments, their only choice to reduce the long-term “market risk” of loosing market shares is FDI. The replication of production in target markets, however, reduces their ability to exploit economies of scale. MNCs are, therefore, torn between concentrating production on few locations in order to benefit from economies of scale and the necessity to diversify the currency composition of their total cost. Thus, they favor large currency zones. As a result, pegging the currencies of the accession states to the Euro serves the interest of MNCs as much as the creation of the European single currency did, and – finally – enhances the attractiveness of these countries for inward FDI.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Dodatne informacije: | 2/2003 |
| Ključni pojmovi: | Globalization, Exchange Rate Mechanism, Exchange Rate Risk, FDI, MNCs, Globalizacija, tečajni mehanizam, tečajni rizik. |
| Teme: | 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 336 Financije. Uključujući: Javne financije. Bankarstvo. Novac > 336.7 Novac. Monetarni sustav. Bankarstvo. Burze 3 Društvene znanosti > 33 Ekonomija. Ekonomska znanost > 339 Trgovina. Međunarodni gospodarski odnosi. Svjetsko gospodarstvo > 339.9 Međunarodno gospodarstvo općenito. Međunarodni gospodarski odnosi. Globalno gospodarstvo |
| Odjeli: | Odjel za ekonomiju i turizam "Dr. Mijo Mirković" |
| Datum pohrane: | 08 Jan 2013 07:21 |
| Zadnja promjena: | 08 Jan 2013 07:21 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/1877 |
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