Broll, Udo; Gilroy, B. Michael; Lukas, Elmar - Fakultät Wirtschaftswissenschaften, Technische … - 2008
Given that a multinational enterprise can react flexibly upon exchange rate movements, international trade flows may be … interpreted as an option. An enterprise will opt to export if the profits obtained from exporting under given exchange rate … developments are greater than if foreign subsidiary sales were opted. Naturally, given negative exchange rate scenario situations …