Purpose - The purpose of this paper is to investigate the exchange rate exposure of UK non-financial companies from January 1981 to December 2001. Design/methodology/approach -The study employs different exchange rate measures and adopts an equally weighted exchange rate. The analyses are...

Purpose - The purpose of this paper is to examine the effect of firm size and foreign operations on the exchange rate exposure of UK non-financial companies from January 1981 to December 2001. Design/methodology/approach -The impact of the unexpected changes in exchange rates on firms’ stock...