Exchange rate variability and the riskiness of US multinational firms: evidence from the Asian turnmoil.

• Other Authors: Chen, Chen.
• Format: Others
• Language: English; Chinese
• Published: 2001
• Subjects: Foreign exchange rates > Mathematical models; Foreign exchange rates > Asia > Mathematical models; Rate of return > Mathematical models; Rate of return > Asia > Mathematical models; Stocks > Prices > Mathematical models; Stocks > Prices > Asia > Mathematical models; International business enterprises > Mathematical models; International business enterprises > Asia > Mathematical models; Financial crises; Financial crises > Asia
• Online Access: http://library.cuhk.edu.hk/record=b5890751; http://repository.lib.cuhk.edu.hk/en/item/cuhk-323480

Chen Chen. === Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. === Includes bibliographical references (leaves 122-129). === Abstracts in English and Chinese. === ABSTRACT --- p.ii === ACKNOWLEDGEMENT --- p.iv === TABLE OF CONTENTS --- p.v === LIST OF FIGURES --- p.vii === LIST OF TABLES --- p.viii === Chapter === Chapter I. --- INTRODUCTION --- p.1 === Chapter 1.1 --- Introduction --- p.1 === Chapter 1.2 --- Objectives and Motivation --- p.5 === Chapter 1.3 --- The Asian Crisis --- p.9 === Chapter 1.4 --- Procedures and Findings --- p.18 === Chapter 1.5 --- Summary --- p.20 === Chapter II. --- LITERATURE REVIEW --- p.21 === Chapter 2.1 --- Definition and Determinants --- p.21 === Chapter 2.2 --- Measurement Model --- p.25 === Chapter 2.3 --- Exchange Rate Fluctuation and Market Value of the Firm --- p.28 === Chapter 2.3.1 --- Exchange Rate Fluctuation and Stock Return --- p.28 === Chapter 2.3.2 --- Some Problems of the Measurement Model --- p.31 === Chapter 2.4 --- Exchange Rate Fluctuation and Market Risk of the Firm --- p.42 === Chapter 2.5 --- Summary --- p.45 === Chapter III. --- HYPOTHESES，METHODOLOGY & DATA --- p.47 === Chapter 3.1 --- Hypotheses --- p.47 === Chapter 3.2 --- Research Design --- p.50 === Chapter 3.3 --- Sample Selection --- p.56 === Chapter 3.3.1 --- Selection of Sample Group --- p.56 === Chapter 3.3.2 --- Selection of Control Group --- p.61 === Chapter 3.3.3 --- Comparison of Two Groups --- p.62 === Chapter 3.4 --- Data and the Measurement of the Variables --- p.64 === Chapter 3.5 --- Summary --- p.67 === Chapter IV. --- EMPIRICAL RESULTS AND DISCUSSION --- p.68 === Chapter 4.1 --- Exchange Rate Variability and Stock Return Volatility --- p.68 === Chapter 4.2 --- Exchange Rate Variability and Market Risk --- p.81 === Chapter 4.3 --- Interpretations --- p.87 === Chapter 4.3.1 --- Phenomenon 1: Cost of Equity and Net Cash Flows --- p.89 === Chapter 4.3.2 --- Phenomenon 2: Increased Return Variability and the US Stock Market Return --- p.92 === Chapter 4.4 --- Alternative Explanation --- p.96 === Chapter 4.5 --- Summary --- p.99 === Chapter V. --- CONCLUDING REMARKS --- p.100 === APPENDICES === APPENDIX 1. Firm Lists --- p.105 === APPENDIX 2. Estimates of CAPM Betas --- p.115 === BIBLIOGRAPHY --- p.122