haku: @indexterm Profitability / yhteensä: 685
viite: 124 / 685
| Tekijä: | Gao, T. |
| Otsikko: | Exchange rate movements and the profitability of US multinationals |
| Lehti: | Journal of International Money and Finance
2000 : FEB, VOL. 19:1, p. 117-134 |
| Asiasana: | EXCHANGE RATES PROFITABILITY USA |
| Kieli: | eng |
| Tiivistelmä: | This paper studies the effects of unexpected exchange rate movements on the stock returns of U.S. multinationals. Unlike most previous studies of exchange rate exposure, the authors explicitly consider the time variability of exchange rate exposure by taking into account firm's foreign sales and foreign production information in the authors' tests. Empirical results based on a sample of 80 US multinationals from 7 3-digit SIC manufacturing industries show that the stock market correctly reveals the profitability effects of exchange rate news predicted by theory. |
SCIMA