The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad ...

@article{33246,
   author = {Šimáková, Jana and Rusková, Nikola},
   article_number = {3},
   doi = {http://dx.doi.org/10.2478/cer-2019-0026Openaccess},
   keywords = {exchange rate;firm value;exchange rate exposure;Jorion’s model;chemical industry},
   language = {eng},
   issn = {2082-6737},
   journal = {COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE},
   title = {The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries},
   url = {https://content.sciendo.com/view/journals/cer/22/3/article-p117.xml},
   volume = {22},
   year = {2019}
}

TY  - JOUR
ID  - 33246
AU  - Šimáková, Jana - Rusková, Nikola
PY  - 2019
TI  - The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries
JF  - COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE
VL  - 22
IS  - 3
SP  - 117-129
EP  - 117-129
PB  - Walter de Gruyter GmbH
SN  - 20826737
KW  - exchange rate;firm value;exchange rate exposure;Jorion’s model;chemical industry
UR  - https://content.sciendo.com/view/journals/cer/22/3/article-p117.xml
L2  - https://content.sciendo.com/view/journals/cer/22/3/article-p117.xml
N2  - The aim of the paper is to evaluate the effect of exchange rates on the stock prices of companies in the chemical industry listed on the stock exchanges in the Visegrad Four countries. The empirical analysis was performed from September 2003 to June 2016 on companies from the petrochemical and pharmaceutical industry. The effect of the exchange rate on stock prices is analyzed using Jorion’s approach on monthly data. In contrast to the selected petrochemical companies, the pharmaceutical companies did not use any hedging instruments in the tested period. The effect of the exchange rate on the stock price was proved only in the case of companies from the pharmaceutical industry. This suggests that exchange rate risk could be eliminated by using hedging instruments.
ER  - 

ŠIMÁKOVÁ, Jana a Nikola RUSKOVÁ. The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries. \textit{COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE}. Walter de Gruyter GmbH, 2019, roč.~22, č.~3, s.~117-129. ISSN~2082-6737. Dostupné z: https://dx.doi.org/10.2478/cer-2019-0026Openaccess.