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Non-United States Firms' Exchange Rate Exposure And The Pricing Of Exchange Rate Risk In Foreign Stock Markets, Patricia Hill Hamlin Hall
Non-United States Firms' Exchange Rate Exposure And The Pricing Of Exchange Rate Risk In Foreign Stock Markets, Patricia Hill Hamlin Hall
Theses and Dissertations in Business Administration
This two part dissertation is an in depth study of the measurement of foreign currency economic exposure faced by foreign firms and whether or not this exposure is associated with significant risk premia within these firms' national equity markets. Firms from four foreign countries; Germany, the United Kingdom, Japan and Canada are classified as purely domestic firms, exporters with low (20%-39%) percentages of foreign sales to total sales, exporters with high (over 40%) percentages of foreign sales to total sales, or multinational corporations.
Essay I focuses on the economic exposure of these non-US firms. Foreign exchange rate volatility can impact …