Hutson, Elaine; O'Driscoll, Anthony - Geary Institute, University College Dublin - 2010
Using a sample of 1,154 European firms from 11 countries, we show that firm-level exchange exposure for Eurozone and …-Eurozone firms. The increase in firmspecific risk is offset by a substantial reduction in market-level exchange exposure in most … to firm-specific. We also find that Eurozone firms’ exchange exposure is greater than that of non-Eurozone European firms …