English  |  正體中文  |  简体中文  |  Items with full text/Total items : 59061/92565 (64%)
Visitors : 730393      Online Users : 35
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23596

    Title: Exchange rate uncertainty and corporate values: evidence from Taiwan
    Authors: 聶建中;Nieh, Chien-chung;Lin, Jeng-bau;Wang, Yu-shan
    Contributors: 淡江大學財務金融學系
    Date: 2008-08-01
    Issue Date: 2009-11-30 17:45:57 (UTC+8)
    Publisher: Taylor & Francis
    Abstract: This article first presents a derivation of a theoretical model, which shows that, if the discount rate is large enough, the exchange rate uncertainty (volatility) affects positively the corporate values under the circumstance where competitive firms are risk-averse. Empirical studies are then implemented to test for the relationships between the uncertainty and the corporate values among ten industries investigated in Taiwan. The empirical evidence indicates that there exist long-run equilibrium relationships between the uncertainty and the corporate values among the industries of food, glass, electricity, paper, rubber and steel. The corporate values for each industry are also significantly affected by their previous-period values. Using the Granger causality test for the other four industries, the results find that this uncertainty only has a one-way leading effect on itself.
    Relation: Applied Financial Economics 18(14), pp.1181-1192
    DOI: 10.1080/09603100701578973
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Journal Article

    Files in This Item:

    File Description SizeFormat
    Exchange rate uncertainty and corporate values evidence from Taiwan.pdf239KbAdobe PDF1View/Open

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback