Asymmetric foreign currency exposures and derivatives use: evidence from France.

Article


Clark, E. and Mefteh, S. 2011. Asymmetric foreign currency exposures and derivatives use: evidence from France. Journal of International Financial Management & Accounting. 22 (1), pp. 27-45.
TypeArticle
TitleAsymmetric foreign currency exposures and derivatives use: evidence from France.
AuthorsClark, E. and Mefteh, S.
Abstract

This paper provides evidence on the asymmetric sensitivity of stock returns of French firms to exchange rate risk and the effect of foreign currency (FC) derivative use in alleviating this risk. The results show that FC exposure is frequently asymmetric and differs with respect to the US dollar (USD) and non-USD currencies. Cross sectional analysis provides evidence that FC derivatives use has a significant effect on reducing FC exposure to appreciations and depreciations of non-USD currencies and depreciations of the USD, but not to appreciations of the USD.

PublisherWileyBlackwell
JournalJournal of International Financial Management & Accounting
ISSN0954-1314
Publication dates
Print2011
Publication process dates
Deposited04 Feb 2011
Output statusPublished
Web address (URL)http://dx.doi.org/10.1111/j.1467-646X.2010.01044.x
LanguageEnglish
Permalink -

https://repository.mdx.ac.uk/item/831q6

  • 26
    total views
  • 0
    total downloads
  • 0
    views this month
  • 0
    downloads this month

Export as