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- W2891668831 abstract "It widely accepted that, for some industries, competition across is economically important and that this competition strongly affected by exchange rate changes. This paper explores the validity of this view using weekly stock return data on 320 industry pairs in six from 1975 to 1997. It found that common to industries across countries are important than competitive shocks. Weekly exchange rate explain almost nothing of the relative performance of industries. Using returns measured over longer horizons the importance of exchange rate increases slightly and the importance of common shocks to industries increases substantially. Both industry and exchange rate are more important for industries that produce goods traded internationally, but the importance of economically small for these industries as well." @default.
- W2891668831 created "2018-09-27" @default.
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- W2891668831 date "1997-10-01" @default.
- W2891668831 modified "2023-09-27" @default.
- W2891668831 title "International Competition and Exchange Rate Shocks: A Cross-Country Industry Analysis of Stock Returns" @default.
- W2891668831 hasPublicationYear "1997" @default.
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