Leonie Bräuer
Léman
Availability date
01.09.2026
Thesis Advisor
Harald Hau
Research Interests
Asset Pricing and International Finance
Languages
English, French, German
Motivationsschreiben
I study foreign exchange currency hedging by global investors and show that (1) it strongly correlates with exchange rates, (2) it is often employed sub optimally by funds and fails to reduce fund-level volatility significantly and (3) it reveals exchange rate expectations that align with survey expectations, are rational and highly heterogenous.