Hot Money or Exchange Rate Exposure ? The Analysis of Foreign Exchange Rate Exposure and its Determinants in Taiwan
| Autor: | Chia-Ho Liou, 劉家和 |
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| Rok vydání: | 2012 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 100 This paper analyzes the foreign exchange rate exposure for nineteen industries in Taiwan during the period of January 2001 to December 2010. We not only use different data horizon to estimate exchange rate exposure, but also consider the “Hot Money” factor. First, after controlling the “hot money” factor, we find that the significance of exchange rate exposure decreased. that is, the exchange rate exposure might be affected by the flow of short-term capital. Second, as the data horizon became longer, the industries’ significance ratio of exchange rate exposure is increased. Third, we also find the hot money effect is greater than exchange rate exposure in most of the industries except the electronic industry. Fourth, we use the electronic individual companies to estimate their exchange rate exposure and find that the exposure is greater if the export rate is higher or the scale of company is bigger |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
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