Exchange rates and corporate performance / edited by Yakov Amihud and Richard M. Levich.

Burr Ridge, Ill. : Irwin Professional Pub., [1994], ©1994.
viii, 255 pages : illustrations ; 24 cm


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Summary note
  • Since 1971, exchange rate volatility has dominated the global financial environment, causing serious competitive dislocations in the international economy. For all those concerned with the implications of exchange rate overshooting, this book offers some of the most timely discussion available on pertinent issues.
  • Exchange Rates and Corporate Performance contains the proceedings of a conference sponsored by the New York University Salomon Center at the Leonard N. Stern School of Business. This conference provided a forum for scholars and practitioners to present and discuss issues.
  • These issues and more are given rigorous analysis by authorities from major universities and economic institutions, as well as practitioners from companies that have been exposed to exchange rate fluctuations. Also included is research on managing corporate financial and operating exposures, valuing the firm, and the effect of exchange rates on interest rates and corporate cost of capital.
  • For the most insightful views on issues ranging from exchange rate planning for the international trading firm to corporate pricing strategies, this book is the corporate planner's essential resource.
"Proceedings of a conference ... sponsored by the New York University Salomon Center at the Leonard N. Stern School of Business of New York University, and held at NYU on May 1st, 1992"--Foreword.
Bibliographic references
Includes bibliographical references.
  • 1. Introduction / Yakov Amihud and Richard M. Levich -- 2. Exchange Rates and the Economy / Rudiger Dornbusch -- 3. Exchange Rates and the Valuation of Firms / Maurice D. Levi -- 4. Exchange Rates and the Valuation of Equity Shares / Yakov Amihud -- Comment / Robert E. Cumby -- Comment / Brian C. Gendreau -- 5. Exchange Rate Volatility and Equity Returns / Stephen J. Brown and Toshiyuki Otsuki -- 6. Exchange Rates and Long-Term Interest Rates / Philippe Jorion -- 7. Exchange Rates and International Differences in the Cost of Capital / Robert N. McCauley and Steven A. Zimmer -- Comment / James N. Bodurtha, Jr. -- Comment / Ian Giddy -- 8. Exchange Rate Planning for the International Trading Firm / Michael Adler -- 9. Exchange Rates and Corporate Pricing Strategies / Michael M. Knetter -- 10. Managing Economic Exposure to Foreign Exchange Risk: A Case Study of American Airlines / John F. O. Bilson -- 11. Strategic Management of Foreign Exchange Exposure in an International Firm / Maricia B. Whitaker.
  • Comment / Kenneth A. Froot.
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