Asymmetric foreign currency exposures and derivatives use: evidence from France.
Clark, Ephraim A. and Mefteh, Salma (2011) Asymmetric foreign currency exposures and derivatives use: evidence from France. Journal of International Financial Management & Accounting, 22 (1). pp. 27-45. ISSN 0954-1314
Full text is not in this repository.
This item is available in the Library Catalogue
This paper provides evidence on the asymmetric sensitivity of stock returns of French firms to exchange rate risk and the effect of foreign currency (FC) derivative use in alleviating this risk. The results show that FC exposure is frequently asymmetric and differs with respect to the US dollar (USD) and non-USD currencies. Cross sectional analysis provides evidence that FC derivatives use has a significant effect on reducing FC exposure to appreciations and depreciations of non-USD currencies and depreciations of the USD, but not to appreciations of the USD.
|Research Areas:||Business > Finance & Accounting|
|Citations on ISI Web of Science:||0|
|Deposited On:||04 Feb 2011 06:24|
|Last Modified:||06 Feb 2013 11:05|
Repository Staff Only: item control page
Full text downloads (NB count will be zero if no full text documents are attached to the record)
Downloads per month over the past year