Internet exercises

1 Obtain an annual report of a major company, such as Sony Corp., from, to answer the following questions. Are there any comments that relate to the company's transaction exposure? Does it seem that the company hedges its transaction exposure? If so, what are the methods that it has used to hedge its exposure?

2 Visit the websites of General Electric (GE),, and Disney,, to obtain their annual reports. Do these annual reports feature the goals and objectives of their currency risk management activities?

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