کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
1002288 | 1481805 | 2013 | 10 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Asset prices and exchange risk: Empirical evidence from Canada Asset prices and exchange risk: Empirical evidence from Canada](/preview/png/1002288.png)
Asset prices have been found to respond to unpredicted changes in macroeconomic variables in a number of studies. This paper focuses on the relationship between economic factors and the stock market for a small open economy, namely Canada. Exchange risk is observed to have a significant impact on firm value in that country between 1971 and 2004. Inflation risk also played a non negligible role during the seventies and eighties. The role played by market risk is harder to ascertain.
. Estimated exchange risk premium.Figure optionsDownload as PowerPoint slideHighlights
► Exchange risk is a factor priced by Canadian assets.
► The estimated exchange risk premium is both important and volatile.
► The role played by the inflation risk factor has decreased over time.
► The empirical evidence does not support the CAPM.
Journal: Research in International Business and Finance - Volume 28, May 2013, Pages 35–44