TY  - JOUR
AB  - This paper studies the exchange rate exposure of investments by the United States, Japan and Germany in the London International Stock Exchange (LSE) from 1982 to 1991. Japanese and German investments are fully exposed to their own exchange rates, and the US is “supernominally” exposed to its own exchange rate. No significant changes in exposure are associated with the Plaza and Louvre Accords. The 1987 worldwide stock market crash exhibits a significant decrease in US exposure, and increase in German exposure. US, Japanese and German investments are also fully exposed to their own exchange rates for the periods before and after the 1986 “Big Bang” in London, except that US investments are “supernominally” exposed in the pre‐Big Bang period.
VL  - 23
IS  - 7
SN  - 0307-4358
DO  - 10.1108/eb018634
UR  - https://doi.org/10.1108/eb018634
AU  - Varela Oscar
AU  - Naka Atsuyuki
PY  - 1997
Y1  - 1997/01/01
TI  - The London International Stock Exchange's Foreign Currency Exposures to the Dollar, Yen and Mark
T2  - Managerial Finance
PB  - MCB UP Ltd
SP  - 45
EP  - 57
Y2  - 2024/04/25
ER  -