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Valuta och internationellt bistånd: Svenska biståndsorganisationers hantering av valutaköp och valutarisk
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
Linköping University, Department of Management and Engineering, Economics. Linköping University, Faculty of Arts and Sciences.
2015 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesisAlternative title
International Aid and Currency : Currency management and foreign exchange risk management of Swedish non-governmental organizations. (English)
Abstract [sv]

Bakgrund: Biståndsorganisationer (NGOs) är verksamma i hela världen och exponeras följaktligen mot valutarisk. Organisationerna hanterar biståndsmedel i så väl vanliga som ovanliga valutor när de på olika sätt finansierar lokala samarbetspartners. Andelen forskning om hur biståndsorganisationer hanterar valutaköp och valutarisk är begränsad och denna studie avser att studera området ytterligare.

Syfte: Studien ämnar att utifrån riskhanteringsteori samt best practice analysera problematiken kring exponeringen mot valutarisk för svenska NGOs samt dess biståndsmottagare. Syftet är även att på detta sätt kunna diskutera generella strategier för svenska NGOs valutahandel och valutariskhantering.

Genomförande: Den kvalitativa ansatsen utgörs av informationsinhämtning i form av nio intervjuer som utformats efter teori samt tidigare studier. Genom fem intervjuer med svenska NGOs ges en bild av hur organisationernas processer och behov ser ut relaterat till valutariskhantering. Information om hur valutarisk- och valutahantering bedrivs i praktiken samt hur experter inom området ser på NGOs nuvarande hantering baseras på fyra intervjuer med aktörer inom valutarisk- och valutahantering. Studiens empiri från genomförda intervjuer analyseras med stöd i studiens teoretiska referensram samt tidigare studier.

Slutsats: Studien visar att problematiken kring valutahandel och valutariskhantering är mer komplex än den verkar vid en första anblick samt att syftet med valutariskhantering skiljer sig mellan vinstdrivande företag och ideella organisationer. Det framgår även att NGOs i nuläget överför merparten av exponeringen mot valutarisk till motpart genom avtal och att NGOs med stor andel bunden finansiering inte har möjlighet att utförligt undersöka eller implementera valutariskhantering. Slutligen har ett antal strategier utvecklats för att mer kostnadseffektivt köpa valuta.

Abstract [en]

Background: Non-governmental organizations (NGOs) are active in most parts of the world and are consequently exposed to foreign exchange risk. The organizations manage aid funds in both common and uncommon types of currency when they in different ways finance local cooperation partners. The amount of previous research how aid organizations handle the management of currency trade and foreign exchange risk is limited and this study aims to examine the area further.

Aim: The study aims to analyse the complex of problems regarding exposure to foreign exchange risk for both Swedish NGOs and their cooperation partners, to do so on the basis of foreign exchange risk theory and best practice. The aim is in such a way to discuss general strategies for currency trade and foreign exchange risk management for Swedish NGOs.

Completion: The qualitative approach consists of nine interviews that have been designed in accordance with theory and previous research. A picture of the organizational processes and needs of Swedish NGOs regarding foreign exchange risk- and currency trade management was given by five interviews with NGOs. Information concerning how foreign exchange risk- and currency trade management is utilized in practice and how experts in the field perceive current management of NGOs was gathered from four interviews with actors within foreign exchange risk- and currency trade management. The empirical data is analysed on the basis of the theoretical framework and previous research.

Conclusion: The study shows that the complex of problems regarding foreign exchange risk- and currency trade management are not as straightforward as at first glance. It also indicates that foreign exchange risk management differs between for-profit businesses and non-profit organizations. It appears that NGOs currently transfer all foreign exchange risk exposure to its counterpart through contracts. The investigation and implementation of foreign exchange risk management is not possible for NGOs with a large ratio of restricted funds. Finally a number of strategies have been developed for a more cost-effective currency trade. 

Place, publisher, year, edition, pages
2015. , 83 p.
Keyword [en]
currency, foreign, trade, FX, aid, NGOs, NGO, non governmental organizations, organizations, risk, humanitarian, international, management, options, forwards, swap, USD, EUR, exposure, transaction, translation, effective, efficient
Keyword [sv]
bistånd, NGOs, NGO, biståndsorganisationer, hjälporganisationer, humanitära organisationer, biståndsmedel, valuta, valutahandel, valutakurser, valutarisk, risk, riskhantering, valutaköp, transaktionsexponering, translationsexponering, hård valuta, exotisk valuta, valutaförlust, valutahantering, valutariskhantering, svenska biståndsorganisationer, SIDA, ramorganisationer, ramavtal, avtal om rambidrag, optioner, terminer, valutaoptioner, valutaterminer, NDF, förlustfinansiering, intern riskreducering, ekonomisk, effektiv
National Category
Economics Business Administration
Identifiers
URN: urn:nbn:se:liu:diva-120387ISRN: LIU-IEI-FIL-A--15/02093--SEOAI: oai:DiVA.org:liu-120387DiVA: diva2:844120
Subject / course
Master Thesis in International Business and Economics Programme (Business Administration/Economics)
Supervisors
Examiners
Available from: 2015-08-04 Created: 2015-08-03 Last updated: 2015-08-17Bibliographically approved

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