1. NCCU Academic Hub
  2. 學術產出
  3. 商學院
  4. 期刊論文
  5. Item

學術產出-期刊論文

文章檢視/開啟

書目匯出

Google ScholarTM

政大圖書館

引文資訊

TAIR相關學術產出

題名 The Determinants of Foreign Exchange Rate Exposure: Evidence on Japanese Firms
作者 Chow, Edward H. ; Chen, Hung-Ling
周行一
關鍵詞 Exchange rate exposure;
     Horizon;
     Industry;
     Hedging
日期 1998-05
上傳時間 27-十月-2008 14:55:30 (UTC+8)
摘要 This paper characterizes the exchange rate exposures of Japanese firms and their determinants for different return horizons. Japanese firms` equity returns decrease as the yen depreciates. Furthermore, Japanese firms are more adversely affected by yen depreciation if they are in industries with higher imports ratios and in the non-traded industries and less detrimentally affected if they are in industries with higher exports. We also control the effects of hedging on exposure. Firms with high leverage, low liquidity and high cash dividends have high exposures. For the 1 month return horizon smaller firms have smaller exposures, while for the longer-return horizons larger firms have smaller exposures.
關聯 Pacific-Basin Finance Journal, Volume 6, Issues 1–2, Pages 153–174
資料類型 article
DOI http://dx.doi.org/10.1016/S0927-538X(97)00020-6
dc.creator (作者) Chow, Edward H. ; Chen, Hung-Lingen_US
dc.creator (作者) 周行一-
dc.date (日期) 1998-05en_US
dc.date.accessioned 27-十月-2008 14:55:30 (UTC+8)-
dc.date.available 27-十月-2008 14:55:30 (UTC+8)-
dc.date.issued (上傳時間) 27-十月-2008 14:55:30 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/2622-
dc.description.abstract (摘要) This paper characterizes the exchange rate exposures of Japanese firms and their determinants for different return horizons. Japanese firms` equity returns decrease as the yen depreciates. Furthermore, Japanese firms are more adversely affected by yen depreciation if they are in industries with higher imports ratios and in the non-traded industries and less detrimentally affected if they are in industries with higher exports. We also control the effects of hedging on exposure. Firms with high leverage, low liquidity and high cash dividends have high exposures. For the 1 month return horizon smaller firms have smaller exposures, while for the longer-return horizons larger firms have smaller exposures.-
dc.format application/en_US
dc.language enen_US
dc.language en-USen_US
dc.language.iso en_US-
dc.relation (關聯) Pacific-Basin Finance Journal, Volume 6, Issues 1–2, Pages 153–174en_US
dc.subject (關鍵詞) Exchange rate exposure;
     Horizon;
     Industry;
     Hedging		-
dc.title (題名) The Determinants of Foreign Exchange Rate Exposure: Evidence on Japanese Firmsen_US
dc.type (資料類型) articleen_US
dc.identifier.doi (DOI) 10.1016/S0927-538X(97)00020-6en_US
dc.doi.uri (DOI) http://dx.doi.org/10.1016/S0927-538X(97)00020-6 en_US