Bartram, Söhnke M.; Brown, Gregory W.; Minton, Bernadette - Volkswirtschaftliche Fakultät, … - 2009
Theory predicts sizeable exchange rate (FX) exposure for many firms. However, empirical research has not documented such exposures. To examine this discrepancy, we extend prior theoretical results to model a global firm’s FX exposure and show empirically that firms pass through part of...