Bartram, Söhnke M.; Bodnar, Gordon M. - Volkswirtschaftliche Fakultät, … - 2006
-financial firms from 37 countries. We argue that the effect of exchange rate exposure on stock returns should be conditional and show … ranges from 1.2 - 3.3% per unit of currency exposure. The premium is larger for firms in emerging markets, while in developed … rate exposure plays an important role in generating cross-sectional return variation. Moreover, we show that the impact of …