1342_IM_Word_docsM12_EITE1342_12E_IM_C12课件.docVIP

Chapter 12Operating Exposure (Questions 12-1. By Any Other Name. Operating exposure has other names. What are they, and what do the words in these names suggest about the nature of operating exposure? Economic exposure emphasizes that the exposure is created by the economic consequences of an unexpected exchange rate change. Economic consequences, in turn, suggests that the impact is due to the response of external forces in the economy, rather than, say, something directly under the control of management. Competitive exposure suggests that the consequences of an unexpected exchange rate c