Currency risk exposure of Chinese corporations
AbstractIn spite of the rise of China and its currency, the currency risk of Chinese firms has not been studied adequately. In this paper we document for the first time that the stock returns of Chinese firms are significantly exposed to currency risks with many firms benefiting from the rise of the Yuan. Further, the magnitudes of the currency risk coefficients for Chinese companies (
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Bibliographic InfoArticle provided by Elsevier in its journal Research in International Business and Finance.
Volume (Year): 25 (2011)
Issue (Month): 3 (September)
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Corporate finance Foreign exchange Currency risk management Chinese firms Chinese currency;
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