Assessing the sensitivity of firm value to exchange rate changes has been one of the most
challenging issues in international financial management over the last two decades. This …

Purpose–Based on basic financial models and reports in the business press, exchange rate
movements are generally believed to affect the value of nonfinancial firms. In contrast, the …

This paper investigates whether the low significance of the impact of foreign exchange rate
risk on firm value reported in previous studies can be explained by the fact that only the …

This paper tests whether significant changes in stock return volatility, market risk, and foreign
exchange rate risk exposures took place around the launch of the Euro in 1999. The …

This paper empirically investigates the exchange rate effects of the New Taiwan dollar
against the Japanese Yen (NTD/JPY) on stock prices in Japan and Taiwan from January …

The purpose of this paper is to investigate the foreign exchange exposure of firms in a highly
inflationary environment. The sample includes 109 firms traded on the Istanbul Stock …

Since the Asian Financial Crisis in 1997, the relationship between stock prices and
exchange rates has received considerable amount of attention from the economists …

This paper examines the importance of exchange rate exposure in the return generating
process for a large sample of non-financial firms from 37 countries. We argue that the effect …

We re‐examine the relation between stock returns and exchange rate changes in five major
European countries (France, Germany, Italy, Switzerland, and the UK), the USA, Canada …

We find that about 13% of our sample of 817 European multinational firms experienced
economically significant exposure effects to the Japanese yen, 14% to the US dollar and …