data, which records detailed information, including the trading partners' names, invoicing currency, and product … descriptions. The strategic complementarity mechanism, that is, choosing the same invoice currency as others in the same industry … origins match in the same year. It is found that currency matching for exports and imports is as essential as strategic …

This study empirically investigates how the invoice currency choice differs between intra-firm and arm's-length exports …. We also examine whether other firm- and product-level characteristics affect the choice of invoice currency. This study … automobile exports to France, we demonstrate that the importer's currency tends to be chosen in intra-firm export invoicing based …