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currency depreciations. The increase in investments has been financed mainly via debt issues. The evidence provided here … Monetary Union (EMU) ; the euro ; valuation ; investment ; debt ; equity ; cost of capital ; currency risk …
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In this paper we study the changes in corporate valuations induced by the adoption of the euro as the common currency in Europe. We use corporate-evel data from ten countries that adopted the euro, the three EU countries that did not start using the euro, as well as Norway and Switzerland. We...
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