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| Author: | Koutmos, G. Knif, J. |
| Title: | Exchange rate exposure in the pre- and post-Euro periods: evidence from Finland |
| Journal: | European Journal of Finance
2011 : AUG-SEP, VOL. 17:7-8, p. 661-674 |
| Index terms: | Nordic countries Finland stock exchanges exchange rates volatility risk analysis data analysis models |
| Freeterms: | post-Euro exposure asymmetric exposure Finnish stock exchange (FSE) |
| Language: | eng |
| Abstract: | This article explores asymmetric as well as first- and second-moment exchange rate exposure of the Finnish stock exchange (FSE) during the pre-and post-Euro periods. There is evidence of significant market-level and residual exchange rate exposure in the pre-Euro period. In the period, following the introduction of the Euro, however, exchange rate exposure becomes insignificant both at the market level and at the individual portfolio level with minor exceptions. The author argues that introduction of the Euro has had a profound impact on the exchange rate exposure of the FSE. |
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