Multi-Elements of Exchange Rate Exposure: Evidence from Japanese Sectoral Returns

2014 ◽  
Author(s):  
Prabhath Jayasinghe ◽  
Albert K.C. Tsui
Keyword(s):  
Exchange Rate ◽  
Exchange Rate Exposure

An Empirical Analysis of Foreign Exchange Exposure of CNX 100 Companies

GIS Business ◽  
2017 ◽  
Vol 12 (5) ◽  
pp. 1-9 ◽  
Author(s):  
Sriram Mahadevan
Keyword(s):  
Exchange Rate ◽  
Stock Returns ◽  
Foreign Exchange ◽  
Foreign Exchange Rate ◽  
Future Research ◽  
Export Ratio ◽  
Exchange Rate Exposure ◽  
Ratio Size ◽  
Foreign Exchange Exposure ◽  
Exchange Rate Changes

The present study has empirically examined the level of foreign exchange exposure and its determinants of CNX 100 companies. For the purpose of study, the relationship between exchange rate changes and stock returns for a sample of 82 companies was determined for the period April 2011-March 2016. The study finds that 49% of the sample companies had significant positive foreign exchange rate exposure and the found that the companies could be exporters or net importers. To explore factors determining foreign exchange rate exposure, variables such as export ratio, import ratio, size of a company, hedging activities were regressed against the exchange exposure and the study found that none of the factors was influencing the exchange rate exposure. The study concludes that the reasons for insignificant influence of the variables could be the natural hedging practices of companies, offsetting of exports and imports and heterogeneous of the sample size. The study offers few directions for future research in this area.

Emerging Market Exchange-Rate Exposure

2007 ◽  
Author(s):  
Timothy K. Chue ◽  
David E. Cook
Keyword(s):  
Exchange Rate ◽  
Emerging Market ◽  
Market Exchange ◽  
Exchange Rate Exposure ◽  
Market Exchange Rate

Supplementary Appendix to: The Response of Multinationalss Foreign Exchange Rate Exposure to Macroeconomic News

2017 ◽  
Author(s):  
Kris Boudt ◽  
Christopher J. Neely ◽  
Piet Sercu ◽  
Marjan Wauters
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Foreign Exchange Rate ◽  
Supplementary Appendix ◽  
Macroeconomic News ◽  
Exchange Rate Exposure

scholarly journals Exchange rate exposure in the South African stock market before and during the COVID-19 pandemic

2021 ◽  
pp. 102000
Author(s):  
Bernard Njindan Iyke ◽  
Sin-Yu Ho
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
South African ◽  
The South ◽  
Exchange Rate Exposure

Sources of time-varying exchange rate exposure

2010 ◽  
Vol 7 (4) ◽  
pp. 371-390 ◽  
Author(s):  
Christian Pierdzioch ◽  
Renatas Kizys
Keyword(s):  
Exchange Rate ◽  
Time Varying ◽  
Exchange Rate Exposure

scholarly journals Resolving the exposure puzzle: The many facets of exchange rate exposure

2010 ◽  
Vol 95 (2) ◽  
pp. 148-173 ◽  
Author(s):  
Söhnke M. Bartram ◽  
Gregory W. Brown ◽  
Bernadette A. Minton
Keyword(s):  
Exchange Rate ◽  
Exchange Rate Exposure ◽  
The Many

Factors Determining the Exchange Rate Exposure of Firms: Evidence from India

2021 ◽  
pp. 227853372110337
Author(s):  
Zakiya Begum Sayed ◽  
J. Gayathri
Keyword(s):  
Exchange Rate ◽  
Multinomial Logistic Regression ◽  
Exchange Rate Volatility ◽  
Strategic Decision ◽  
Firm Level ◽  
Factors Affecting ◽  
Business Operations ◽  
Industrial Sectors ◽  
Exchange Rate Exposure ◽  
The Exchange Rate

Exchange rate exposure is a strategic decision in finance and risk management at both the micro and macro level of business operations. Literature on the measurement, and management of this risk, has had no consensus on the factors affecting it as these factors seem to be dynamic. In an effort to consider a comprehensive study at the firm level, this article examines the exchange rate exposure of 271 constituent firms from the BSE S&P 500 index. The study period was 2001 to 2020 divided into sub-periods around the financial crises of 2008. The study uses two contemporary approaches (the capital market approach and the cash flow approach) and five relevant exchange rates (USD, EURO, GBP, JPY, and REER) to measure the foreign exchange. The sample firms were divided into 10 industrial sectors to identify the factors that lead to exposure of firms to exchange rate volatility. We use multinomial logistic regression to regress the select factors with the measured value of exchange rate exposure. The findings of the article suggest that multinationality, fixed asset utilization ratio, hedging activities, industrial sectors, size, and age of the firms are the significant determinants of such exposure. The results varied during the sub-periods and across industries.

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