The Economic Exposure of U.S. Multinational Firms

Title	The Economic Exposure of U.S. Multinational Firms
Creator	周行一 Chow, Edward H.; Lee, Wayne Y.; Michael E. Solt
Date	1997
Date Issued	5-Nov-2008 16:52:35 (UTC+8)
Summary	In this paper we find that the exchange rate exposure of individual firms increases with the return horizon. Also, the cross-sectional differences in the magnitude of exposure of individual firms are significantly related to firm size but not to the relative portion of foreign sales to total sales. The empirical evidence is consistent with the hypothesis that hedging activities exhibit economies of scale, and, consequently, the magnitude of economic exposure is less for larger firms than for smaller firms.
Relation	Journal of Financial Research,20, 191-210
Type	article
DOI	http://dx.doi.org/10.1111/j.1475-6803.1997.tb00244.x

dc.creator (作者)	周行一	zh_TW
dc.creator (作者)	Chow, Edward H.; Lee, Wayne Y.; Michael E. Solt	-
dc.date (日期)	1997	en_US
dc.date.accessioned	5-Nov-2008 16:52:35 (UTC+8)	-
dc.date.available	5-Nov-2008 16:52:35 (UTC+8)	-
dc.date.issued (上傳時間)	5-Nov-2008 16:52:35 (UTC+8)	-
dc.identifier.uri (URI)	https://nccur.lib.nccu.edu.tw/handle/140.119/6090	-
dc.description.abstract (摘要)	In this paper we find that the exchange rate exposure of individual firms increases with the return horizon. Also, the cross-sectional differences in the magnitude of exposure of individual firms are significantly related to firm size but not to the relative portion of foreign sales to total sales. The empirical evidence is consistent with the hypothesis that hedging activities exhibit economies of scale, and, consequently, the magnitude of economic exposure is less for larger firms than for smaller firms.	-
dc.format	application/	en_US
dc.language	en	en_US
dc.language	en-US	en_US
dc.language.iso	en_US	-
dc.relation (關聯)	Journal of Financial Research,20, 191-210	en_US
dc.title (題名)	The Economic Exposure of U.S. Multinational Firms	en_US
dc.type (資料類型)	article	en
dc.identifier.doi (DOI)	10.1111/j.1475-6803.1997.tb00244.x	en_US
dc.doi.uri (DOI)	http://dx.doi.org/10.1111/j.1475-6803.1997.tb00244.x	en_US