Institutional Investors and Foreign Exchange Risk

Timo Korkeamaki and Danielle Xu ()
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Timo Korkeamaki: Hanken School of Economics, Department of Finance and Statistics, Finland
Danielle Xu: Gonzaga University, School of Business Administration, USA

Quarterly Journal of Finance (QJF), 2015, vol. 05, issue 03, 1-33

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.

Keywords: Institutional investors; foreign exchange risk (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1142/S2010139215500135

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