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The Determinants of Foreign Exchange Exposure of EGX30 Companies "An Empirical Study"

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  • M. S. Nada
  • Rehab Emad El-Din Mohammed

Abstract

This study aims to examine the evidence for measuring the significance of foreign exchange exposure (FXE) for EGX30 companies during the period from 2000-2016. The problem of the study is concerned with the fluctuations of the foreign exchange (FX) rate in Egypt, which have a great effect on the financial performance of EGX30 companies. Following prior studies (e.g. Aggarwal R., 2010; Lee, 2011 and Sam Agyei-Ampomah K. M., 2012), this study uses Fama-French (FF) model to measure the FXE. The result of the study shows that 70% of EGX30 companies were significant to the foreign exchange exposure; the results are robust to the choice of model design.

Suggested Citation

  • M. S. Nada & Rehab Emad El-Din Mohammed, 2017. "The Determinants of Foreign Exchange Exposure of EGX30 Companies "An Empirical Study"," Asian Journal of Finance & Accounting, Macrothink Institute, vol. 9(1), pages 448463-4484, December.
    • Handle: RePEc:mth:ajfa88:v:9:y:2017:i:1:p:448463
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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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