La sensibilité du cours boursier des entreprises exportatrices aux variations de taux de change : le cas français
This 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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|Date of creation:||Nov 2006|
|Date of revision:|
|Publication status:||Published in Banque & Marchés, 2006, no. 85. pp. 51-61.Length: 10 pages|
|Contact details of provider:|| Web page: http://www.dauphine.fr/en/welcome.html|
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