This paper examines the impact of renminbi revaluation on foreign firm valuation and, by implication, firm prospects … exchange rate policy but also 27 instances of market-perceived changes in China's currency policy driven by domestic or foreign … political pressure. Using information on 12,300 firms in 44 countries, we find that stock returns increased with renminbi …

China's exchange rate policy in 2005 and 2010 and data on 6,050 firms in 44 countries. Renminbi appreciation has a positive …We examine the impact of renminbi revaluation on firm valuations, considering two surprise announcements of changes in … effect on firms exporting to China but little positive or even a negative impact on those providing inputs for China …

market sentiment and specific trade effects. Expected renminbi appreciation has a positive effect on firms exporting to China …We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of … changes in China's exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns …

China's exchange rate policy in 2005 and 2010 and data on 6,050 firms in 44 countries. Renminbi appreciation has a positive …We examine the impact of renminbi revaluation on firm valuations, considering two surprise announcements of changes in … effect on firms exporting to China but little positive or even a negative impact on those providing inputs for China …

market sentiment and specific trade effects. Expected renminbi appreciation has a positive effect on firms exporting to China …We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of … changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns …