Browsing by Subject "Firm size"

Filter results by typing the first few letters
Now showing 1 - 3 of 3
  • Thumbnail Image
    ItemOpen Access
    Exchange rate exposure and real exports
    (Routledge, 2010) Solakoglu, M. N.
    This study investigates the relationship between real exports and exchange rate risk for Turkish firms between 2001 and 2003. Different from earlier studies, the analysis is conducted at the firm level with an exchange rate risk specific to the individual firm. Results show that real exports are negatively impacted by an increase in exchange rate risk. In addition, size of the trade volume and the dependence on domestic market for revenue generation are found to be important for the aforementioned relationship.
  • Thumbnail Image
    ItemOpen Access
    Exchange rate volatility and exports: a firm-level analysis
    (Routledge, 2008) Solakoglu, M. N.; Solakoglu, E. G.; Demirag, T.
    The relationship between real exports and exchange rate volatility is investigated using panel data analysis at the firm level. Results indicate that there is no negative or positive relationship between volatility and real exports. In addition, firm size and level of international activity do not influence the size and significance of the volatility effect on exports. However, there is some evidence that firms use import revenue to lower their exchange rate exposure.
  • Thumbnail Image
    ItemOpen Access
    Firm size, ownership structure, and systematic liquidity risk : the case of an emerging market
    (Elsevier B.V., 2017) Şensoy, Ahmet
    Previous studies support the hypothesis that institutional ownership leads to an enhanced systematic liquidity risk by increasing the commonality in liquidity. By using a proprietary database of all incoming orders and ownership structure in an emerging stock market, we show that institutional ownership leads to an increase in commonality in liquidity for mid- to-large cap firms; however, only individual ownership can lead to such an increase for small cap firms, revealing a new source of systematic liquidity risk for a specific group of firms. We also reveal that commonality decreases with the increasing number of investors (for both individual and institutional) at any firm size level; suggesting that as the investor base gets larger, views of market participants become more heterogeneous, which provides an alternative way to decrease the systematic liquidity risk.