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Exchange Rate Exposure Of Sectoral Returns And Volatilities: Further Evidence From Japanese Industrial Sectors, Prabhath Jayasinghe, Albert K. Tsui, Zhaoyong Zhang
Exchange Rate Exposure Of Sectoral Returns And Volatilities: Further Evidence From Japanese Industrial Sectors, Prabhath Jayasinghe, Albert K. Tsui, Zhaoyong Zhang
Research outputs 2014 to 2021
In this paper we argue that the commonly employed exposure coefficient/beta is inadequate for capturing the entire impact of exchange rate changes on firms' future operating cash flows. Instead, we employ the bivariate Glosten-Jagannathan-Runkle generalized autoregressive conditional heteroskedasticity mean model to investigate four aspects of exchange rate exposure, including sensitivity of stock returns to exchange rate changes, sensitivity of stock returns to the volatility of exchange rate changes, sensitivity of conditional variance of returns to exchange rate volatility, and the dynamic conditional correlation between returns and exchange rate changes, respectively, using data from 10 industrial sectors in Japan. We find …
The Boycott Model Of Foreign Product Purchase: An Empirical Test In China, Malcolm Smith, Qianpin Li
The Boycott Model Of Foreign Product Purchase: An Empirical Test In China, Malcolm Smith, Qianpin Li
Research outputs pre 2011
The primary purpose of this paper is to investigate and ascertain the effects of integrative motivation on the willingness to participate in boycott activities. This paper uses a mail survey to examine the relationships among six constructs in a boycotting issue context, in order to explore Chinese consumers’ willingness to boycott against Japanese products or services with the fallout from a Japanese former PM’s continuous visits to a controversial war shrine since 2001. The findings suggest that there are significant and positive pairwise relationships between boycott participation and three factors (i.e. animosity, efficacy, and prior purchase). High animosity towards Japanese …