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Exchange Rate Exposure and Firm-Specific Factors: Evidence from Turkey
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BibTeX
@MISC{Solakoglu_exchangerate,
author = {Mehmet Nihat Solakoglu},
title = {Exchange Rate Exposure and Firm-Specific Factors: Evidence from Turkey},
year = {}
}
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Abstract
Abstract: This study examines the relationship between exchange rate exposure and firm-specific factors- firm size, maturity, level of international activity, a measure of natural-hedging- using panel data approach. Exchange rate exposure of Turkish firms between 2001 and 2003 is estimated using capital market approach. Results show that the size of the firm and the level of international activity are significant in lowering the exposure. In addition, firms that can be characterized as net-exporters or net-importers are more likely to have significant exposure to exchange rate movements.
