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Publication
Gestão cambial na exportação pecuária
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Advisor(s)
Abstract(s)
No domínio do comércio internacional, o sector de exportação pecuária desempenha
um papel fundamental. Este estudo embarca numa exploração rigorosa das consequências
de longo alcance das flutuações da taxa de câmbio, considerando o seu impacto na
estabilidade financeira e no posicionamento competitivo das empresas exportadoras. O
principal objetivo é realizar uma investigação abrangente sobre o papel fundamental da gestão
do risco cambial e oportunidades específicas enfrentadas pelos exportadores e analisar de
perto a implementação prática e a eficácia das estratégias de cobertura nos mercados spot e
forward. Esta investigação vai além dos limites tradicionais da gestão do risco cambial e
investiga os meandros das estratégias de cobertura financeira em moeda estrangeira (ME).
Essas estratégias são categorizadas com base no tipo de exposição (curto ou longo prazo) e
no tipo de instrumento financeiro utilizado (forwards, opções, swaps e dívida em moeda
estrangeira). Tem como objetivo contribuir significativamente para a nossa compreensão da
relação simbiótica entre a gestão cambial e as atividades de exportação, reconhecendo as
nuances da cobertura financeira no sector de exportação pecuária. Para realizar esta
investigação, será utilizada uma gama diversificada de abordagens metodológicas para
abordar e aprofundar duas questões centrais: (i) Como é que a cobertura cambial impacta o
desempenho financeiro e a exposição ao risco na exportação pecuária? (ii) Quais são as
principais estratégias para integrar uma gestão eficaz do risco cambial nas decisões de
expansão da pecuária? Em resposta a estas questões verifica-se que existem riscos
relevantes, como risco do país, risco cambial e risco de crédito para a empresa estudada. A
análise revelou que algumas estratégias, tais como, diversificação de mercados, inclusão de
cláusulas contratuais que ajustem preços, diminuição dos prazos de recebimento, negociação
de moedas locais para atrair novos clientes e utilização de CAPs podem ser fundamentais na
implementação de um modelo integrado.
In the field of international trade, the livestock export sector plays a key role. This study embarks on a rigorous exploration of the far-reaching consequences of exchange rate fluctuations, considering their impact on the financial stability and competitive positioning of exporting companies. The main objective is to conduct a comprehensive investigation into the fundamental role of exchange rate risk management and specific opportunities faced by exporters, and to closely analyze the practical implementation and effectiveness of hedging strategies in the spot and forward markets. This research goes beyond the traditional boundaries of foreign exchange risk management and investigates the intricacies of financial hedging strategies in foreign currency (FC). These strategies are categorized based on the type of exposure (short or long term) and the type of financial instrument used (forwards, options, swaps and foreign currency debt). It aims to contribute significantly to our understanding of the symbiotic relationship between exchange rate management and export activities by recognizing the nuances of financial hedging in the livestock export sector. To carry out this research, a diverse range of methodological approaches will be used to address and deepen two central questions: (i) How does currency hedging impact financial performance and risk exposure in livestock exports? (ii) What are the main strategies for integrating effective currency risk management into livestock expansion decisions? In response to these questions, it can be seen that there are relevant risks, such as country risk, exchange rate risk and credit risk for the company studied. The analysis revealed that some strategies, such as diversifying markets, including contractual clauses that adjust prices, shortening receipt periods, negotiating local currencies to attract new clients and using CAPs, could be fundamental in implementing an integrated model.
In the field of international trade, the livestock export sector plays a key role. This study embarks on a rigorous exploration of the far-reaching consequences of exchange rate fluctuations, considering their impact on the financial stability and competitive positioning of exporting companies. The main objective is to conduct a comprehensive investigation into the fundamental role of exchange rate risk management and specific opportunities faced by exporters, and to closely analyze the practical implementation and effectiveness of hedging strategies in the spot and forward markets. This research goes beyond the traditional boundaries of foreign exchange risk management and investigates the intricacies of financial hedging strategies in foreign currency (FC). These strategies are categorized based on the type of exposure (short or long term) and the type of financial instrument used (forwards, options, swaps and foreign currency debt). It aims to contribute significantly to our understanding of the symbiotic relationship between exchange rate management and export activities by recognizing the nuances of financial hedging in the livestock export sector. To carry out this research, a diverse range of methodological approaches will be used to address and deepen two central questions: (i) How does currency hedging impact financial performance and risk exposure in livestock exports? (ii) What are the main strategies for integrating effective currency risk management into livestock expansion decisions? In response to these questions, it can be seen that there are relevant risks, such as country risk, exchange rate risk and credit risk for the company studied. The analysis revealed that some strategies, such as diversifying markets, including contractual clauses that adjust prices, shortening receipt periods, negotiating local currencies to attract new clients and using CAPs, could be fundamental in implementing an integrated model.
Description
Keywords
Gestão Cambial Exportação Pecuária Estratégias de Cobertura Financeira Foreign Exchange Management Livestock Exports Financial Hedging Strategies