Bartram, Söhnke M.; Brown, Gregory W.; Minton, … - In: Journal of Financial Economics 95 (2010) 2, pp. 148-173
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 currency...