Volume 4, Issue 2, Summer 2021, Page 80 - 106
Author(s) :
Seyed Alireza Mirarab Baigi 1 , Hashem Mokari *2 , Mahtab Arab Boghraei 3
1 Roudhen Islamic Azad Uni, Iran
2 Roudhen Islamic Azad Uni, Iran
3 Adiban University, Semnan, Iran


Abstract :
Exchange rate fluctuations can theoretically and practically affect business decisions and performance; Therefore, efforts have been made to cover the number of risks due to exchange rate changes by using different methods of risk management. In this regard, the use of exchange forward contracts can reduce the risk of these companies. The purpose of this study was to investigate the barriers to starting a forward currency exchange. The research method was qualitative-quantitative. The statistical population of the study are capital market experts. Obstacles were identified using the opinions of 10 experts. Then, using a questionnaire and collecting the opinions of experts and capital market activists, the identified barriers were validated. The software used was maxqda in quality and smartpls in quantity. The results showed that social awareness, capital market, central bank, stability and improvement of market conditions, monetary and fiscal policies, transparency, executive factors, risk control, economic barriers, political barriers and the role of government are effective barriers to the implementation of forward exchange. The ranking of qualitative variables is orderly, first the role of government, second the monetary and fiscal policies and third the central bank. The effect of the studied variables was also significant.

Keywords :
Currency, Exchange rate fluctuation, Currency forward contract, Grounded theory.


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Receive Date
26 May 2021
Revise Date
05 Jun 2021
Accept Date
23 Jun 2021