To date little is known about how long equity ownership lasts, what determines its length, and whether ownership duration is related to firm performance. Using a unique time series of equity holdings over eleven years, we find that on average the firm's largest owner stays less than three years...

Theoretical models predict that firm behavior will differ under a depreciating relative to an appreciating currencyregime. Consequently, the exchange rate exposure of a firm's stock return should also depend on the currency regime. Weassess these theoretical predictions by examining the exchange...

Current empirical research concludes that the effect of exchange rates on US stock returns is negligible. In contrast, we present new evidence that numerous US industries are exposed to exchange rates. The differences between our findings and those in the extant literature are a result of using...

We analyze the currency exposure of industries, using data for Norway. The Norwegian case is particularly well suited for investigating currency exposure issues, since it is a very open economy, has dollar denominated exports and ECU denominated imports, and has had three official exchange rate...