The DAX and the dollar the economic exchange rate exposure of German corporations

This paper examines the economic exposure of German corporation to changes in the DM/US-dollar exchange-rate. Our work contributes to the existing body of literature in the following ways. Firstly, we point out conceptual problems of previous attempts to estimate economic exposure. Secondly, we find...

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Veröffentlicht in:Journal of international business studies
1. Verfasser: Glaum, Martin (VerfasserIn)
Weitere Verfasser: Brunner, Marko (VerfasserIn), Himmel, Holger (VerfasserIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 2000
Schlagworte:
1974-1997 > Börsenkurs > Währungsrisiko > US-Dollar > Aktienmarkt > Schätzung > Deutschland > Aufsatz in Zeitschrift
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Zusammenfassung:This paper examines the economic exposure of German corporation to changes in the DM/US-dollar exchange-rate. Our work contributes to the existing body of literature in the following ways. Firstly, we point out conceptual problems of previous attempts to estimate economic exposure. Secondly, we find that German firms are significantly exposed to changes in the DM/US-dollar rate. However, our results are unstable over time.
Beschreibung:In: Journal of international business studies
Beschreibung:Diagramme
ISSN:0047-2506