| Summary: | 碩士 === 國立中興大學 === 會計學研究所 === 96 === This research, following Wong’s (2000) framework, attempts to investigate the relationship between foreign exchange derivatives and foreign exchange risk exposure. Moreover, the findings of this paper may be beneficial for making policy concerning the risk exposure of corporation information.
The empirical results reveal that derivative notional amount disclosure indeed is associated foreign exchange risk exposure. However, the relationship between fair value disclosure and exchange risk exposure is not supported at all. It may be caused by the inconsistency of the presentations and calculation basis of equal value employed by different corporations, which leads the exposure of equal value less informative. Nevertheless, when nominal amount and fair value are disclosed simultaneously, the information of fair value could serve as complement to the information of nominal amount. The results also demonstrate that the information of foreign asset, foreign investments gain and loss, foreign debt, import, export, exchange gain and loss, accumulation conversion adjustment is useful for the evaluation of foreign exchange risk. Hence, the authority may ask the corporations to disclose the information of derivatives in terms of required format, items, targets, and fair value.
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