Institutional Investors and Foreign Exchange Risk
The quarterly journal of finance(2015)
Abstract
We study institutional appetite for stocks with FX exposure, and find variation among institution types. Institutions that are by their nature more likely to engage in active management of foreign exchange risk in their portfolio, namely mutual funds and hedge funds seek stocks with foreign exchange exposure. Institutions that are constrained by regulation tend to avoid foreign exchange exposure.
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Key words
Institutional investors,foreign exchange risk
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