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Foreign exchange exposure and impact of policy switch - the case of Malaysian listed firms

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dc.contributor.authorAzhar Mohamad
dc.contributor.authorSharifah Raihan Syed Mohd Zain
dc.contributor.authorMohamed Eskandar Shah Mohd Rasid
dc.contributor.authorObiyathulla Ismath Bacha
dc.date.accessioned2016-07-25T20:05:46Z
dc.date.available2016-07-25T20:05:46Z
dc.date.disclosure2016-06-10
dc.date.issued2013
dc.description.abstractThis article undertakes an in-depth study of the foreign exchange exposure of Malaysian listed firms. We examine several issues related to firm-specific and overall exposure, including an evaluation of the efficacy of adopting a hard-peg on such exposure. Our sample consists of 158 listed firms and spans the 16 year period, 1990–2005. A multivariate model using four bilateral exchange rates is used to determine firm level exposure while panel data analysis using a random-effects Generalized Least Squares (GLS) model is used to determine system-wide or aggregate sample exposure. We find a total 71% of our sample firms to have significant exchange rate exposure, a rate substantially higher than that reported for most countries, especially developed ones.
dc.identifier.citationBacha, O. I., Mohamad, A., Syed Mohd Zain, S. R., & Mohd Rasid, M. E. S. (2013). Foreign exchange exposure and impact of policy switch - the case of Malaysian listed firms, Applied Economics, 45(20), pp. 2974-2984.
dc.identifier.doihttps://doi.org/10.1080/00036846.2012.684790
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/1408
dc.languageEnglish
dc.language.isoeng
dc.publisherRoutledge
dc.rights2013. Routledge
dc.sourceCRP
dc.subjectFirm-specific
dc.subjectExchange rate
dc.subjectExposure
dc.subjectPolicy
dc.subjectSwitch
dc.titleForeign exchange exposure and impact of policy switch - the case of Malaysian listed firms
dc.typeJournal Article
dlc.maintopicConventional finance
dlc.subtopicCapital markets
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicConventional finance
ikr.topic.subtopicConventional finance
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