search query: @indexterm EXCHANGE RATES / total: 1242
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| Author: | Jong, A. de Ligterink, J. Macrae, V. |
| Title: | A firm-specific analysis of the exchange-rate exposure of Dutch firms |
| Journal: | Journal of international financial management & accounting
2006 : SPRING, VOL. 17:1, p. 1-28 |
| Index terms: | exchange rates stock returns companies Netherlands |
| Language: | eng |
| Abstract: | This paper examines the relationship btw. exchange-rate (here as: ex-rt./ex-rts.) changes and stock returns for a sample of Dutch firms from 1994 to 1998. It is found among others that more than 50 percent of the firms are significantly exposed to ex-rt. risk. The results confirm that firms in open economies, like in the Netherlands, exhibit significant ex-rt. exposure. It is also indicated that the use of a trade-weighted currency index and the use of individual ex-rts. are complements. In addition, it is found that firm size and the foreign sales ratio are significantly and positively related to ex-rt. exposure. |
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