Chaieb, Ines; Mazzotta, Stefano - In: Journal of International Money and Finance 32 (2013) C, pp. 781-808
We re-examine the relationship between exchange rate movements and firm value. We estimate the exchange rate exposure …-exporters. Using a panel approach, we uncover statistically significant and sizable unconditional exposure. We also examine the … dynamics of exchange rate exposure modeled as a function of business cycle indicators and firm characteristics. We find that …