{"title":"Financial Stress in the Foreign Exchange Market and its Real Effect on Firm Investments: Evidence from South Korea","authors":"Deokki Ko","doi":"10.1080/1226508X.2022.2079544","DOIUrl":null,"url":null,"abstract":"ABSTRACT This study proposes an exogenous financial stress index for South Korea’s foreign exchange market (EXO-FSIFX) and explores its effect on firm investments using panel data on manufacturing firms listed on the Korea Exchange from 2000 to 2019. The empirical results show that EXO-FSIFX negatively affects firm investments on average, and the strength of this relationship varies by firm characteristics. Specifically, the negative impact of EXO-FSIFX on firm investments increases in firms with procyclical sales and financial unsoundness.","PeriodicalId":45235,"journal":{"name":"Global Economic Review","volume":"22 1","pages":"142 - 158"},"PeriodicalIF":1.9000,"publicationDate":"2022-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Economic Review","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/1226508X.2022.2079544","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 2
Abstract
ABSTRACT This study proposes an exogenous financial stress index for South Korea’s foreign exchange market (EXO-FSIFX) and explores its effect on firm investments using panel data on manufacturing firms listed on the Korea Exchange from 2000 to 2019. The empirical results show that EXO-FSIFX negatively affects firm investments on average, and the strength of this relationship varies by firm characteristics. Specifically, the negative impact of EXO-FSIFX on firm investments increases in firms with procyclical sales and financial unsoundness.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
