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We quantify the effect of exchange rate fluctuations on firm leverage. When home currency appreciates, firms who hold foreign currency debt and local currency assets observe higher net worth as appreciation lowers the value of their foreign currency debt. These firms can borrow more as a result...
Persistent link: https://www.econbiz.de/10012496162
between exchange rate volatility and international trade flows. I contribute to the ongoing debate by investigating the … and estimate the trade effects of short-run and long-run exchange rate volatility. My findings indicate significant …-run volatility, these effects vary substantially according to product and industry characteristics. I find a positive association …
Persistent link: https://www.econbiz.de/10012616612
This paper reviews the literature on idiosyncratic equity volatility since the publication of "Have Individual Stocks …, Gharghori, and Zhong and by Leippold and Svaton, and we present volatility estimates through the end of 2021, significantly … period, idiosyncratic volatility declined thereafter; but sharp increases in market, industry, and idiosyncratic volatility …
Persistent link: https://www.econbiz.de/10013191011