Foreign exchange exposure and multinationality
We examine the relation between firms’ foreign exchange exposure and the extent of their multinationality as a proxy for operational hedging. Using a sample of 953 US firms over the period 1999–2006, we show that there is a nonlinear relation between operational and financial hedging, confirming ane...
| Main Authors: | , |
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| Format: | Journal Article |
| Published: |
Elsevier BV, North Holland
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/20.500.11937/44052 |