Exchange rate exposure in the pre- and post-Euro periods: evidence from Finland
AbstractThis paper investigates asymmetric as well as first- and second-moment exchange rate exposure of the Finnish stock exchange (FSE) during the pre- and post-Euro periods. There is evidence of significant market-level and residual exchange rate exposure in the pre-Euro period. In the period, following the introduction of the Euro, however, exchange rate exposure becomes insignificant both at the market level and at the individual portfolio level with minor exceptions. Obviously, the introduction of the Euro has had a profound impact on the exchange rate exposure of the FSE.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal The European Journal of Finance.
Volume (Year): 17 (2011)
Issue (Month): 8 ()
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- Parlapiano, Fabio & Alexeev, Vitali, 2012. "Exchange Rate Risk Exposure and the Value of European Firms," Working Papers 2012-09, University of Tasmania, School of Economics and Finance, revised 20 Nov 2012.
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