This study examines the relationship between the value of the firm and unanticipated changes in exchange rate. Using a sample of 651 Indian firms over the period from 2001 to 2013, this study finds that unanticipated changes in exchange rates are more appropriate than actual changes to discover...

This study examines the relationship between exchange rate changes and firm value. For this purpose, a sample of 342 Indian non-financial firms grouped into 20 industry portfolios is studied over the period of April 2006 to March 2011. The sensitivity of industry’s stock returns to actual...