To investigate hedging effectiveness of multinational companies in respect of using currency derivatives,the author adapts an innovative and multi layers GJR-GARCH-based model.This model broke down the currency risk faced by MNCs in each business area and
Central Asia has long emerged as a hotspot for both the regional and extra-regional powers for two main reasons:its geopolitical location in the middle of Eurasia between Europe,South Asia,the Middle East,Russia and China,and their abundant and mostly une