Du, Ding; Hu, Ou; Wu, Hong - In: Journal of Multinational Financial Management 28 (2014) C, pp. 47-61
The insignificance of currency risk in emerging markets is particularly puzzling, given a lack of hedging instruments and volatile currency movements in these markets. In this paper, we conjecture that this puzzle may be due to the comovement between exchange rates and the market factor in these...
