Purpose – Using firm-specific SEC currency risk disclosures, this paper aims to provide insight into the puzzling absence of significant returns-based foreign exchange exposure (FXE). Such a hand gathered disclosure data identify the bilateral exchange rate to which the firm is most vulnerable...

Purpose – Using firm‐specific SEC currency risk disclosures, this paper aims to provide insight into the puzzling absence of significant returns‐based foreign exchange exposure (FXE). Such a hand gathered disclosure data identify the bilateral exchange rate to which the firm is most...