The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F19%3AA0000044" target="_blank" >RIV/47813059:19520/19:A0000044 - isvavai.cz</a>
Výsledek na webu
<a href="https://content.sciendo.com/view/journals/cer/22/3/article-p117.xml" target="_blank" >https://content.sciendo.com/view/journals/cer/22/3/article-p117.xml</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.2478/cer-2019-0026Openaccess" target="_blank" >10.2478/cer-2019-0026Openaccess</a>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
The Role of Exchange Rates in the Stock Price Development of Chemical Companies in the Visegrad Four Countries
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>SC</sub> - Článek v periodiku v databázi SCOPUS
CEP obor
—
OECD FORD obor
50206 - Finance
Návaznosti výsledku
Projekt
—
Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2019
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
COMPARATIVE ECONOMIC RESEARCH - CENTRAL AND EASTERN EUROPE
ISSN
1508-2008
e-ISSN
2082-6737
Svazek periodika
22
Číslo periodika v rámci svazku
3
Stát vydavatele periodika
DE - Spolková republika Německo
Počet stran výsledku
13
Strana od-do
117-129
Kód UT WoS článku
—
EID výsledku v databázi Scopus
2-s2.0-85072540118