La sensibilité du cours boursier des entreprises exportatrices aux variations de taux de change : le cas français
AbstractThis study examines the relationship between the currency fluctuations and the stock prices of the French exporting companies. The empirical results show that 58% of the companies have a significant sensitivity to the fluctuations of the exchange rate index over the period from January 1993 to December 2004. Some firms experience exposure to the lagged exchange-rate changes. The results also show that the exposure to the exchange rate risk is on average less important after the passage to the euro.
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Bibliographic InfoPaper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/2788.
Date of creation: Nov 2006
Date of revision:
Publication status: Published in Banque & Marchés, 2006, no. 85. pp. 51-61.Length: 10 pages
Empirical research; Stock prices; Business cycles; Euro; France; Entreprises cotées; Cours boursiers; Taux de change;
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