Does the currency regime shape unhedged currency exposure?
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چکیده
منابع مشابه
Does the currency regime shape unhedged currency exposure?
This paper examines how unhedged currency exposure of firms varies with changes in currency flexibility. A sequence of four time periods with alternating high and low currency volatility in India provides a natural experiment in which changes in currency exposure of a panel of firms is measured, and the moral hazard versus incomplete markets hypotheses tested. We find that firms carried higher ...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2010
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2009.12.007