Managing Currency Risk How Japanese Firms Choose Invoicing Currency
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Biographical note
Takatoshi Ito, Professor, School of International and Public Affairs, Columbia University, US, Senior Professor, National Graduate Institute for Public Studies, Japan and RIETI, Satoshi Koibuchi, Professor, Faculty of Commerce, Chuo University, Japan and RIETI, Kiyotaka Sato, Professor, Department of Economics, Yokohama National University, Japan, Adjunct Professor, School of Business and Law, Edith Cowan University, Australia and RIETI and Junko Shimizu, Professor, Faculty of Economics, Gakushuin University, Japan and RIETI<i>'This is an important book that gives us a detailed look into why Japanese firms do business. Rather than just rely on regressions, the authors do something rarely seen in economics: they talk to their data by conducting surveys and interviews with Japanese firms. This method adds a tremendous richness to their analysis.'</i><br /> --David E Weinstein, Columbia University, US<p><i>'This book is a spectacular achievement. Based on unique interviews and questionnaire surveys, it provides various insights on the invoicing currency behavior of Japanese exporters. It will be useful not only for academic research but also for policymakers.'</i> --Shin-ichi Fukuda, University of Tokyo, Japan</p><p><i>'This book employs new data sets based on both interviews and questionnaire surveys of Japanese manufacturing firms operating globally. The information is used to obtain novel and convincing findings regarding the determinants of invoice currency choice and currency risk management by focusing on export destination, arm's-length vs. intra-firm trades, and types of subsidiaries.'</i><br /> --Eiji Ogawa, Hitotsubashi University, Japan</p>