The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique.
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | REVES - Revista Relações Sociais |
Texto Completo: | https://periodicos.ufv.br/reves/article/view/13850 |
Resumo: | Swap contract negotiates the exchange of profitability between two goods (commodities or financial assets). A Swap contract can be defined as an agreement between two parties, who establish the exchange of cash flow based on the comparison of profitability between two assets. For example: Swap of gold x prefixed rate. If at contract maturity, gold valuation is lower than the prefixed rate negotiated between the parties, the difference will be received by the party that bought the prefixed rate and sold gold. If the profitability of gold is higher than the prefixed rate, the party that bought gold and sold prefixed rate will receive the difference. This research aimed to study the role of SWAP contracts in hedging exchange rate variation risk in importing used cars from Japan. For data collection, the questionnaire technique was used with 65 used car exporting agents and private exporters in the cities of Maputo, Matola, Xai-Xai and Beira. Binary logistic regression was carried out and it was concluded that there is a significant relationship between the financial crisis and the exchange rate variation and also that the exchange rate variation was due to the lack of SWAP contract coverage. Thus, all the null hypotheses are above 0.05 of Sig, which validates the alternative hypotheses. |
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The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique.O papel de Contratos Swap na cobertura de risco cambial na importação de viaturas usadas de Japão para Moçambique, 2010-2020Swap Contract. Financial Crisis. Exchange Rate VariationCrise financeira. Variação da taxa de cambioContrato de intercambio. Crisis financiera. Variación del tipo de cambio.Swap contract negotiates the exchange of profitability between two goods (commodities or financial assets). A Swap contract can be defined as an agreement between two parties, who establish the exchange of cash flow based on the comparison of profitability between two assets. For example: Swap of gold x prefixed rate. If at contract maturity, gold valuation is lower than the prefixed rate negotiated between the parties, the difference will be received by the party that bought the prefixed rate and sold gold. If the profitability of gold is higher than the prefixed rate, the party that bought gold and sold prefixed rate will receive the difference. This research aimed to study the role of SWAP contracts in hedging exchange rate variation risk in importing used cars from Japan. For data collection, the questionnaire technique was used with 65 used car exporting agents and private exporters in the cities of Maputo, Matola, Xai-Xai and Beira. Binary logistic regression was carried out and it was concluded that there is a significant relationship between the financial crisis and the exchange rate variation and also that the exchange rate variation was due to the lack of SWAP contract coverage. Thus, all the null hypotheses are above 0.05 of Sig, which validates the alternative hypotheses.Contrato Swap negocea-se a troca de rentabilidade entre dois bens (mercadorias ou activos financeiros). Pode-se definir o contrato Swap como um acordo, entre duas partes, que estabelecem a troca de fluxo de caixa tendo como base a comparação da rentabilidade entre dois bens. Por exemplo: Swap de ouro x taxa prefixada. Se no vencimento do contrato, a valorização do ouro for inferior à taxa prefixada negociada entre as partes, receberá a diferença a parte que comprou taxa prefixada e vendeu ouro. Se a rentabilidade do ouro for superior à taxa prefixada, receberá a diferença a parte que comprou ouro e vendeu taxa prefixada. Esta pesquisa teve como objectivo estudar o papel dos contractos SWAP na cobertura de risco de variação cambial na importação de viaturas usadas de Japão. Para a recolha de dados usou-se a técnica do questionário a 65 agentes exportadores de viaturas usadas e exportadoras particulares, nas cidades de Maputo, Matola, Xai-Xai e Beira e foi feita a regressão logística binária onde concluiu se que existe uma relação significativa entre a crise financeira e a variação da taxa de cambio e assim como, a variação da taxa de cambio deveu-se a falta da cobertura por contrato Swap. Assim, todas as hipíteses nulas estão acima de 0.05 de Sig, o que valida às hipóteses alternativas.Contrato Swap negocea-se a troca de rentabilidade entre dois bens (mercadorias ou activos financeiros). Pode-se definir o contrato Swap como um acordo, entre duas partes, que estabelecem a troca de fluxo de caixa tendo como base a comparação da rentabilidade entre dois bens. Por exemplo: Swap de ouro x taxa prefixada. Se no vencimento do contrato, a valorização do ouro for inferior à taxa prefixada negociada entre as partes, receberá a diferença a parte que comprou taxa prefixada e vendeu ouro. Se a rentabilidade do ouro for superior à taxa prefixada, receberá a diferença a parte que comprou ouro e vendeu taxa prefixada. Esta pesquisa teve como objectivo estudar o papel dos contractos SWAP na cobertura de risco de variação cambial na importação de viaturas usadas de Japão. Para a recolha de dados usou-se a técnica do questionário a 65 agentes exportadores de viaturas usadas e exportadoras particulares, nas cidades de Maputo, Matola, Xai-Xai e Beira e foi feita a regressão logística binária onde concluiu se que existe uma relação significativa entre a crise financeira e a variação da taxa de cambio e assim como, a variação da taxa de cambio deveu-se a falta da cobertura por contrato Swap. Assim, todas as hipíteses nulas estão acima de 0.05 de Sig, o que valida às hipóteses alternativas.Universidade Federal de Viçosa - UFV2022-02-20info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.ufv.br/reves/article/view/1385010.18540/revesvl5iss3pp13850-01eREVES - Revista Relações Sociais; Vol. 5 No. 3 (2022); 13850-01eREVES - Revista Relações Sociais; Vol. 5 Núm. 3 (2022); 13850-01eREVES - Revista Relações Sociais; v. 5 n. 3 (2022); 13850-01e2595-4490reponame:REVES - Revista Relações Sociaisinstname:Universidade Federal de Viçosa (UFV)instacron:UFVporhttps://periodicos.ufv.br/reves/article/view/13850/7186Copyright (c) 2022 REVES - Revista Relações Sociaishttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessCharles, Alcinda Rui Francisco Chichava2022-11-24T14:09:12Zoai:ojs.periodicos.ufv.br:article/13850Revistahttps://periodicos.ufv.br/reves/PUBhttps://periodicos.ufv.br/reves/oaireves.journal@ufv.br||2595-44902595-4490opendoar:2022-11-24T14:09:12REVES - Revista Relações Sociais - Universidade Federal de Viçosa (UFV)false |
dc.title.none.fl_str_mv |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. O papel de Contratos Swap na cobertura de risco cambial na importação de viaturas usadas de Japão para Moçambique, 2010-2020 |
title |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
spellingShingle |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. Charles, Alcinda Rui Francisco Chichava Swap Contract. Financial Crisis. Exchange Rate Variation Crise financeira. Variação da taxa de cambio Contrato de intercambio. Crisis financiera. Variación del tipo de cambio. |
title_short |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
title_full |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
title_fullStr |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
title_full_unstemmed |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
title_sort |
The role of swap contracts in hedging foreign exchange risk on used car imports from Japan to Mozambique. |
author |
Charles, Alcinda Rui Francisco Chichava |
author_facet |
Charles, Alcinda Rui Francisco Chichava |
author_role |
author |
dc.contributor.author.fl_str_mv |
Charles, Alcinda Rui Francisco Chichava |
dc.subject.por.fl_str_mv |
Swap Contract. Financial Crisis. Exchange Rate Variation Crise financeira. Variação da taxa de cambio Contrato de intercambio. Crisis financiera. Variación del tipo de cambio. |
topic |
Swap Contract. Financial Crisis. Exchange Rate Variation Crise financeira. Variação da taxa de cambio Contrato de intercambio. Crisis financiera. Variación del tipo de cambio. |
description |
Swap contract negotiates the exchange of profitability between two goods (commodities or financial assets). A Swap contract can be defined as an agreement between two parties, who establish the exchange of cash flow based on the comparison of profitability between two assets. For example: Swap of gold x prefixed rate. If at contract maturity, gold valuation is lower than the prefixed rate negotiated between the parties, the difference will be received by the party that bought the prefixed rate and sold gold. If the profitability of gold is higher than the prefixed rate, the party that bought gold and sold prefixed rate will receive the difference. This research aimed to study the role of SWAP contracts in hedging exchange rate variation risk in importing used cars from Japan. For data collection, the questionnaire technique was used with 65 used car exporting agents and private exporters in the cities of Maputo, Matola, Xai-Xai and Beira. Binary logistic regression was carried out and it was concluded that there is a significant relationship between the financial crisis and the exchange rate variation and also that the exchange rate variation was due to the lack of SWAP contract coverage. Thus, all the null hypotheses are above 0.05 of Sig, which validates the alternative hypotheses. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-02-20 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.ufv.br/reves/article/view/13850 10.18540/revesvl5iss3pp13850-01e |
url |
https://periodicos.ufv.br/reves/article/view/13850 |
identifier_str_mv |
10.18540/revesvl5iss3pp13850-01e |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://periodicos.ufv.br/reves/article/view/13850/7186 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2022 REVES - Revista Relações Sociais https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2022 REVES - Revista Relações Sociais https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Federal de Viçosa - UFV |
publisher.none.fl_str_mv |
Universidade Federal de Viçosa - UFV |
dc.source.none.fl_str_mv |
REVES - Revista Relações Sociais; Vol. 5 No. 3 (2022); 13850-01e REVES - Revista Relações Sociais; Vol. 5 Núm. 3 (2022); 13850-01e REVES - Revista Relações Sociais; v. 5 n. 3 (2022); 13850-01e 2595-4490 reponame:REVES - Revista Relações Sociais instname:Universidade Federal de Viçosa (UFV) instacron:UFV |
instname_str |
Universidade Federal de Viçosa (UFV) |
instacron_str |
UFV |
institution |
UFV |
reponame_str |
REVES - Revista Relações Sociais |
collection |
REVES - Revista Relações Sociais |
repository.name.fl_str_mv |
REVES - Revista Relações Sociais - Universidade Federal de Viçosa (UFV) |
repository.mail.fl_str_mv |
reves.journal@ufv.br|| |
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1792207367171997696 |