The fact that 92% of the world's 500 largest companies recently reported using derivatives
suggests that corporate managers believe financial risk management can increase …

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 …

There are two major findings from our time-series estimations. First, we find that there is no
long-run significant relationship between stock prices and exchange rates in the G-7 …

A key question is why many multinational firms forgo foreign exchange derivative (FX)
hedging and instead use operational hedging. We propose an explanation based on …

Theory predicts sizeable exchange rate (FX) exposure for many firms. However, empirical
research has not documented such exposures. To examine this discrepancy, we extend …

We show that both return measurement horizon and model specification have noticeable
impacts on estimates of exposure from equity prices for US firms. While increases in the …

This paper examines the impact of operational hedges of US multinational corporations
(MNCs) on their exchange rate exposure. The two important contributions of this study are …

This paper considers the generalized autoregressive conditional heteroscedastic approach
in modelling exchange rate volatility in a panel of nineteen of the Arab countries using daily …

The research study sought to investigate the effect of Macro-economic factors on the stock
return volatility on the Nairobi Securities Exchange, Kenya. The study focused on the effect …

This paper tests the hypothesis that exchange rate exposure is asymmetric over
appreciation–depreciation cycles. More specifically, it investigates whether returns on nine …