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The Impact of Exchange Rate on Firm Performance: Evidence from Korean Firms

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  • Mihye Lee

Abstract

This article analyzes the role of exchange rate in explaining firm investment between 2006 and 2014, considering both export and import channels as possible factors along with other firm-level characteristics based on the Census on Establishments. Using the detailed information on exports and imports from the data, we are able to capture the cost and revenue channel more precisely compared to the previous existing literature. The empirical analysis shows that the export channel appears to be insignificant as opposed to conventional wisdom. However, the import channel is significant and shows that currency appreciation may not necessarily decrease a firm’s investment level.

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  • Mihye Lee, 2017. "The Impact of Exchange Rate on Firm Performance: Evidence from Korean Firms," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 53(11), pages 2440-2449, November.
    • Handle: RePEc:mes:emfitr:v:53:y:2017:i:11:p:2440-2449
    DOI: 10.1080/1540496X.2017.1322504
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    Cited by:

    1. Gatot Nazir Ahmad & Haryo Kuncoro & Harmuzan Tazril & Dicky Iranto, 2021. "Volatility Exchange Rate and Economic Growth: Insight from ASEAN Member Countries," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 68(4), pages 495-507, November.

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