Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/32791
Full metadata record
DC FieldValueLanguage
dc.contributor.authorAnnelies, Van Cauwenberge-
dc.contributor.authorVANCAUTEREN, Mark-
dc.contributor.authorBRAEKERS, Roel-
dc.contributor.authorVANDEMAELE, Sigrid-
dc.date.accessioned2020-12-03T15:30:41Z-
dc.date.available2020-12-03T15:30:41Z-
dc.date.issued2020-
dc.date.submitted2020-11-12T11:23:05Z-
dc.identifier.citationInternational journal of finance and economics (Print),-
dc.identifier.urihttp://hdl.handle.net/1942/32791-
dc.description.abstractThis study investigates exchange rate exposure by comparing Dutch and Belgian listed firms at each point in time using monthly data from 2006 to 2015. Gaps in previous research are addressed by using disaggregated firm-level data to construct trade-weighted firm-specific effective exchange indices and by applying copula theory. Our findings are as follows. First, extreme events leading to non-normality of stock returns are, at least partially, caused by a firm's international trade status. Second, Dutch listed firms experience stronger exchange rate exposure since they engage more into trade outside the Eurozone than the Belgian listed firms. Third, listed importing firms experience stronger exchange rate exposure than listed exporting firms, which indicates a dual effect of exchange rate risk arising from cash flow effects in both the domestic economy and the foreign market. Overall, our proposed methodology contributes to a better understanding of the link between exchange rate changes and trade, and may therefore be of use to policy makers involved with exchange rate or monetary policy.-
dc.description.sponsorshipThe authors gratefully acknowledge the financial support of the NBB (Project No. 3H130602) and also thank the NBB for dealing with the foreign trade and national accounts database from the Central Balance Sheet Office. The views expressed in this article represent the views of the authors and not necessarily those of the National Bank of Belgium or Statistics Netherlands. We would like to thank the participants of the internal seminar at the National Bank of Belgium on the 17th of September 2018 in Brussels and the participants of the 4th International Workshop on Financial Markets and Nonlinear Dynamics (FMND–www.fmnd.fr) from 31 May to June 1, 2019 in Paris for fruitful discussions.-
dc.language.isoen-
dc.publisherWILEY-
dc.rights2020 John Wiley & Sons Ltd-
dc.subject.otherBelgium-
dc.subject.othercopula-
dc.subject.otherexchange rate exposure-
dc.subject.otherfirm-specific trade-weighted exchange rate-
dc.subject.otherNetherlands-
dc.titleThe degree of international trade and exchange rate exposure—Firm‐level evidence from two small open economies-
dc.typeJournal Contribution-
local.format.pages19-
local.bibliographicCitation.jcatA1-
dc.description.notesAnnelies, V (corresponding author), Hasselt Univ, Fac Business Econ, Martelarenlaan 42, B-3500 Hasselt, Belgium.-
dc.description.notesannelies.vancauwenberge@uhasselt.be-
dc.description.otherAnnelies, V (corresponding author), Hasselt Univ, Fac Business Econ, Martelarenlaan 42, B-3500 Hasselt, Belgium. annelies.vancauwenberge@uhasselt.be-
local.publisher.place111 RIVER ST, HOBOKEN 07030-5774, NJ USA-
local.type.refereedRefereed-
local.type.specifiedArticle-
local.bibliographicCitation.statusEarly view-
dc.identifier.doi10.1002/ijfe.2189-
dc.identifier.isiWOS:000560588800001-
local.provider.typewosris-
local.uhasselt.uhpubyes-
local.description.affiliation[Annelies, Van Cauwenberge; Mark, Vancauteren; Sigrid, Vandemaele] Hasselt Univ, Fac Business Econ, Martelarenlaan 42, B-3500 Hasselt, Belgium.-
local.description.affiliation[Mark, Vancauteren] Stat Netherlands, Heerlen, Netherlands.-
local.description.affiliation[Roel, Braekers] Hasselt Univ, Fac Sci Censtat, Diepenbeek, Belgium.-
local.uhasselt.internationalyes-
item.validationecoom 2021-
item.fulltextWith Fulltext-
item.contributorAnnelies, Van Cauwenberge-
item.contributorVANCAUTEREN, Mark-
item.contributorBRAEKERS, Roel-
item.contributorVANDEMAELE, Sigrid-
item.fullcitationAnnelies, Van Cauwenberge; VANCAUTEREN, Mark; BRAEKERS, Roel & VANDEMAELE, Sigrid (2020) The degree of international trade and exchange rate exposure—Firm‐level evidence from two small open economies. In: International journal of finance and economics (Print),.-
item.accessRightsRestricted Access-
crisitem.journal.issn1076-9307-
crisitem.journal.eissn1099-1158-
Appears in Collections:Research publications
Files in This Item:
File Description SizeFormat 
ijfe.2189.pdf
  Restricted Access
Published version3.76 MBAdobe PDFView/Open    Request a copy
Show simple item record

Page view(s)

120
checked on Mar 29, 2022

Download(s)

16
checked on Mar 29, 2022

Google ScholarTM

Check

Altmetric


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.