本篇文章主要讲述管理风险的方法，管理风险的另一个重要方法是阻止汇率波动，而这只有通过投资组合的内部化才能实现。国际货币汇率受波动的影响，而波动在大多数情况下是无法预测的。汇率风险长期以来一直影响着投资组合经理，管理风险的基本方法是分散他们在国际经济中的持股(Biger, 1979)。投资组合经理可以战略性地将他们在拥有强势货币的国家持有的资产国际化，这将为投资组合经理带来超常的回报。控股的国际化将有助于投资组合经理进入更大的市场。本篇英国传媒学论文代写文章由英国论文人EducationRen教育网整理，供大家参考阅读。
Another significant way of managing risk is by arresting the exchange rate fluctuations which is only possible by internalization of the portfolio holdings. International currency rates are subject to fluctuations which are in most cases unpredictable. The exchange rate risk has been affecting the portfolio managers for quite a long time and the based way to manage the risk was to diversify their holdings in international economies (Biger, 1979). Portfolio managers could strategically internationalize their holdings in countries with strong currency which would reap supernormal returns for the portfolio managers. Internationalization of holdings would facilitate the portfolio managers to access a bigger market.
The portfolio managers could internationalize their holdings in countries that are less competitive which would yield best returns from the investment. This would lessen the market-oriented risks that would be faced by the portfolio managers. Thus, the portfolio managers could internationalize their holdings in order to engage in the diversification of portfolio assets. The international diversification of portfolio assets would help the portfolio managers to achieve high risk-adjusted return. Thus, this would mean that the portfolio managers could invest and internationalize their holdings to experience less volatility. This experience of less market volatility implies that the portfolio managers would be able to manage any market risks by internationalizing their holdings.
Based on the conventional financial theory, the participants and the economic agents around the world are considered to be rational wealth maximizer. However, there are several instances which would involve emotions and psychology in terms of decision making. The emotional and psychological engagement sometimes influences economic agents to behave unpredictably and irrationally. Behavioral finance is considered to be the new field which combines the aspect of behavior and cognitive psychological theory and associates this with the conventional economics and finance.
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