全球智库信息集成服务系统(G2TT): DP2469 Does FDI Work as a Channel for R&D Spillovers? Evidence Based on Swedish Data

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP2469
	DP2469 Does FDI Work as a Channel for R&D Spillovers? Evidence Based on Swedish Data
	Karen Helene Ulltveit-Moe; Karolina Ekholm; Henrik Braconier
发表日期	2000-06-27
出版年	2000
语种	英语
摘要	We test for the pricing of exchange rate and foreign inflation risk in equities. Our tests are motivated by the empirical implications of the models of Solnik (1974b) as revised by Sercu (1980), Grauer, Litzenberger, and Stehle (1976), and Adler and Dumas (1983). Both exchange rate and foreign inflation risk factors can explain part of the within-country cross-sectional variation in returns. Our results have important implications for hedging exchange rate risk. They also demonstrate that home bias, at least in US equity portfolios, cannot be the result of US investors' efforts to hedge their domestic inflation.
主题	Financial Economics
关键词	Exchange rate risk premiums Foreign inflation risk premiums International asset pricing
URL	https://cepr.org/publications/dp2469
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/531547
推荐引用方式 GB/T 7714	Karen Helene Ulltveit-Moe,Karolina Ekholm,Henrik Braconier. DP2469 Does FDI Work as a Channel for R&D Spillovers? Evidence Based on Swedish Data. 2000.