Economic exposure and hysteresis

Global Finance Journal - Tập 12 - Trang 217-235 - 2001
Wayne Y Lee1, Michael E Solt2
1Department of Finance, University of Arkansas, Fayetteville, AR, 72701, USA
2Department of Accounting and Finance, San Jose State University, One Washington Place, San Jose, CA 95192-0066, USA

Tài liệu tham khảo

Abuaf, 1990, Purchasing power parity in the long run, Journal of Finance, 45, 167, 10.2307/2328814 Aggarwal, 1989, Managing persistent real changes in currency values, the roles of multinational operating strategies, Columbia Journal of World Business, 24, 60 Amano, 1995, Terms of trade and real exchange rates, the Canadian evidence, Journal of International Money and Finance, 14, 83, 10.1016/0261-5606(94)00016-T Ankrom, 1974, Top-level approach to the foreign exchange problem, Harvard Business Review, 74, 79 Bartov, 1994, Firm valuation, earnings expectations, and the exchange-rate exposure effect, Journal of Finance, 44, 1755, 10.2307/2329270 Bodnar, 1998, Wharton survey of financial risk management by U.S. non-financial firms, Financial Management, 27, 70, 10.2307/3666414 Chow, 1997, The exchange-rate risk exposure of asset returns, Journal of Business, 70, 105, 10.1086/209710 Christophe, 1997, Hysteresis and the value of the U.S. multinational corporation, Journal of Business, 70, 435, 10.1086/209725 Dixit, 1989, Hysteresis, import penetration, and exchange rate pass-through, Quarterly Journal of Economics, 104, 205, 10.2307/2937845 Dunning, 1981 Dunning, 1988 Fama, 1990, Stock returns, expected returns, and real activity, Journal of Finance, 45, 1089, 10.2307/2328716 Fama, 1988, Permanent and temporary components of stock prices, Journal of Political Economy, 96, 246, 10.1086/261535 Fama, 1988, Dividend yields and expected stock returns, Journal of Financial Economics, 22, 3, 10.1016/0304-405X(88)90020-7 Fama, 1989, Business conditions and expected returns on stocks and bonds, Journal of Financial Economics, 21, 23, 10.1016/0304-405X(89)90095-0 Flood, 1986, On the measurement of operating exposure to exchange rates, a conceptual approach, Financial Management, 15, 25, 10.2307/3665275 Froot, 1989, Exchange rate pass-through when market share matters, American Economic Review, 79, 637 Granger, 1974, Spurious regressions in econometrics, Journal of Econometrics, 2, 111, 10.1016/0304-4076(74)90034-7 Jorion, 1990, The exchange rate exposure of U.S. multinationals, Journal of Business, 63, 331, 10.1086/296510 Knetter, 1993, International comparisons of pricing-to-market behavior, American Economic Review, 83, 473 Kothari, 1997, Measuring long-horizon security price performance, Journal of Financial Economics, 43, 301, 10.1016/S0304-405X(96)00899-9 Krugman, 1991 Lessard, 1986, Volatile exchange rates can put operations at risk, Harvard Business Review, 86, 107 Lothian, 1996, Real exchange rate behavior, the recent float from the perspective of the past two centuries, Journal of Political Economy, 104, 488, 10.1086/262031 Newey, 1987, A simple, positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix, Econometrica, 55, 703, 10.2307/1913610 `, 1993, The nature and causes of foreign currency exposure, Journal of Applied Corporate Finance, 6, 61, 10.1111/j.1745-6622.1993.tb00234.x Rangan, 1998, Do multinationals operate flexibly? Theory and evidence, Journal of International Business Studies, 29, 217, 10.1057/palgrave.jibs.8490034 Roll, 1992, Industrial structure and the comparative behavior of international stock market indices, Journal of Finance, 47, 3, 10.2307/2329089 Shapiro, 1999 Stein, 1990, The real exchange rate, Journal of Banking and Finance, 14, 1045, 10.1016/0378-4266(90)90026-X Taylor, 1995, The economics of exchange rates, Journal of Economic Literature, 33, 13 White, 1980, A heteroscedasticity-consistent covariance matrix estimator and direct test for heteroscedasticity, Econometrica, 48, 817, 10.2307/1912934 Zanello, A., & Desruelle, D. (1997). A primer on the IMF's information notice system (Working Paper 97/71). Washington, DC: International Monetary Fund.