Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/82407
Authors: 
Nydahl, Stefan
Year of Publication: 
1999
Series/Report no.: 
Sveriges Riksbank Working Paper Series 81
Abstract: 
This paper investigates the effect of exchange rate fluctuation on a firm’s value, the so-called exchange rate exposure, for a sample of Swedish firms. In contrast to previous results, using U.S. data, the values of Swedish firms, as reflected in the stock price, seem quite sensitive to movements in the exchange rate. Studying the cross sectional differences in exposure, the estimated exposure is positively and significantly related to the fractional of total sales made broad and negatively related to the use of currency derivatives.
Subjects: 
Exchange rate exposure
Foreign activities
Hedging
JEL: 
F30
G10
Document Type: 
Working Paper

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