The Effects of Industry Structure on Economic Exposure.

A firm is subject to "economic exposure" if changes in exchange rates affect the firm's value, as measured by the present value of its future cash flows. This paper shows that in many forms of competition, including the most commonly studied case of monopoly, the economic exposure of an exporting firm is simply proportional to the firm's net revenues based in foreign currency.

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Year of publication:	1996
Authors:	Marston, R.C.
Institutions:	Weiss Center for International Financial Research, Wharton School of Business
Subject:	INDUSTRY \| ENTERPRISES \| EXCHANGE RATE \| UNCERTAINTY \| FINANCIAL MARKET

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Series:	Weiss Center Working Papers.
Type of publication:	Book / Working Paper
Notes:	25 pages
Classification:	D80 - Information and Uncertainty. General ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; F30 - International Finance. General ; F31 - Foreign Exchange ; L12 - Monopoly; Monopolization Strategies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005777126