Deloitte & Touche/Columbia University
COMPETITIVE READINESS PROGRAM
Managing Corporate Financial
Prof. Ian Giddy
New York University
Managing market risk is an increasingly important
aspect of corporate financial management. This module provides insights
into three difficult aspects of risk management: interest rate risk, commodity
price risk and foreign currency exposure. The instructor employs modern
principles of finance to address the practical problems of measuring and
managing corporate fianial risk in the context of business uncertainties,
accounting imperfections and incomplete markets.
Interest Rate and Commodity Risk
• Corporate Financial Risk: Transactions, Accounting
and Economic Exposure
• Integration of Financing and Hedging Decisions
• Hedging Instruments Compared
• Case Study: "Liberty Travel"
• Commodity Prices and the Cost of Carry Theory
• Commodity Swaps and Commodity-Linked Bonds
• Illustration: "Qantas"
Managing Currency Risk
• Foreign Exchange and Eurocurrency Instruments
• Should Companies Actively Manage Currency Risk?
• Anatomy of Recent Accidents
• Transactions, Accounting and Economic Exposure
• Tools and Techniques for Managing Currency Exposure
• Case study: "U.S. Semiconductor"
• Guidelines for the Use of Different Hedging Instruments
• Managing Financial Risk and the "Value at Risk" Approach
• Conclusion and Recap
"A Framework for Risk Management"
"The Management of Foreign Exchange Risk"
"Liberty Travel," "Qantas," and "U.S. Semiconductor"
"Managing Corporate Financial Risk"
Smith, Smithson & Wilford, Managing Financial
Risk, Institutional Investor, 1989
Shapiro, Multinational Financial Management,
Giddy, Global Financial Markets, DC Heath,
Ian H. Giddy, Professor of Finance
New York University • Stern School of Business
44 West 4th Street, New York 10012
Tel 212 998-0332 • Fax 212 995-4233
Go to Giddy's
Web Portal • Contact Ian Giddy at firstname.lastname@example.org