Ahn, Y H; Holley, P and Kang, J S (2009) Risk management of exchange rates in international construction. International Journal of Construction Education and Research, 5(1), pp. 24-44. ISSN 1557-8771
Abstract
International contractors must consider the substantial risks related to unexpected foreign exchange fluctuation when conducting their business and using foreign currencies in foreign countries. Most international contractors attempt to minimize foreign exchange exposure within a manageable range because it may influence the company's fundamental financial structure, reduce market value or profit margins, or disrupt ongoing and future projects. This research provides a qualitative study of existing foreign exchange exposure (transaction, operation, and translation exposure) and current and effective foreign exchange risk management in American and Korean international contractors, as they represent both new and long-time members of the global construction market. Finally, recommendations of strategies for new and existing international contractors to minimize and better manage foreign exchange risk will be offered.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | automobile; industrial construction; manufacturing; project delivery |
| Index terms: | project delivery, international construction, exposure, qualitative study, risk management, industrial construction, global construction, profit, strategy |
| Subjects: | building construction, public and environmental health, economic analysis, project delivery, research design and methodology, risk assessment, management, strategic management |
| Topics: | Research Practice, Procurement, Engineering Principles, International Construction, Risk Management, Business Strategy, Health and Safety |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here