The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Firm Valuation, Earnings Expectations, and the Exchange‐Rate Exposure Effect
Abstract
Consistent with previous research, we fail to find a significant correlation between the abnormal returns of our sample firms with international activities and changes in the dollar. We investigate the possibility that this failure is due to mispricing. Lagged changes in the dollar are a significant variable in explaining current abnormal returns of our sample firms, suggesting that mispricing does occur. A simple trading strategy based upon these results generates significant abnormal returns. Corroborating evidence from returns around earnings announcements as well as errors in analysts' forecasts of earnings is also provided.
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Cites
Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency
JEGADEESH, N., & TITMAN, S. (1993) · The Journal of Finance · doi:10.1111/j.1540-6261.1993.tb04702.x · Cited by 11,584
Cited by
A bivariate causality between stock prices and exchange rates: evidence from recent Asianflu☆
Granger, C. W. J., Huangb, B.-N., & Yang, C.-W. (2000) · The Quarterly Review of Economics and Finance · doi:10.1016/s1062-9769(00)00042-9 · Cited by 784
The Foreign Exchange Exposure of Japanese Multinational Corporations
He, J., & Ng, L. K. (1998) · The Journal of Finance · doi:10.1111/0022-1082.295575 · Cited by 601
Dynamic relationship between stock prices and exchange rates for G-7 countries
Nieh, C.-C., & Lee, C.-F. (2001) · The Quarterly Review of Economics and Finance · doi:10.1016/s1062-9769(01)00085-0 · Cited by 472
Does hedging affect firm value? Evidence from the US airline industry
Carter, D. A., Rogers, D. A., & Simkins, B. J. (2006) · Financial Management · doi:10.1111/j.1755-053x.2006.tb00131.x · Cited by 389
Dynamic relationship between exchange rate and stock price: Evidence from China
Zhao, H. (2010) · Research in International Business and Finance · doi:10.1016/j.ribaf.2009.09.001 · Cited by 260
Metadata
- Authors
- BARTOV, E., & BODNAR, G. M.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1994-12
- Volume
- 49
- Issue
- 5
- Pages
- 1755-1785
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2017095822
- Cited by
- 751
- References
- 1
- FWCI
- 20.24
- Type
- journal article
- Language
- en
- Open access
- closed
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- BARTOV, E., & BODNAR, G. M. (1994). Firm Valuation, Earnings Expectations, and the Exchange‐Rate Exposure Effect. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1994.tb04780.x
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.