Exchange Risk Implications of International Portfolio Diversification

Nahum Biger

doi:10.1057/palgrave.jibs.8490638

Exchange Risk Implications of International Portfolio Diversification

Nahum Biger

School Of Business Administration

Research output: Contribution to journal › Article › peer-review

Abstract

This paper evaluates the systematic risk of foreign exchange by deriving efficient sets of international portfolios from six national viewpoints. The composition of these portfolios is examined and the effect of different exchange rate risks is discussed theoretically and tested empirically. The paper shows that in the context of international portfolios, exchange risk matters much less than would be expected.

Original language	English
Pages (from-to)	64-74
Number of pages	11
Journal	Journal of International Business Studies
Volume	10
Issue number	2
DOIs	https://doi.org/10.1057/palgrave.jibs.8490638
State	Published - 1979

Bibliographical note

Publisher Copyright:
© 1979, Academy of International Business.

ASJC Scopus subject areas

Business and International Management
General Business, Management and Accounting
Economics and Econometrics
Strategy and Management
Management of Technology and Innovation

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10.1057/palgrave.jibs.8490638

Cite this

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title = "Exchange Risk Implications of International Portfolio Diversification",

abstract = "This paper evaluates the systematic risk of foreign exchange by deriving efficient sets of international portfolios from six national viewpoints. The composition of these portfolios is examined and the effect of different exchange rate risks is discussed theoretically and tested empirically. The paper shows that in the context of international portfolios, exchange risk matters much less than would be expected.",

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AB - This paper evaluates the systematic risk of foreign exchange by deriving efficient sets of international portfolios from six national viewpoints. The composition of these portfolios is examined and the effect of different exchange rate risks is discussed theoretically and tested empirically. The paper shows that in the context of international portfolios, exchange risk matters much less than would be expected.

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Exchange Risk Implications of International Portfolio Diversification

Abstract

Bibliographical note

ASJC Scopus subject areas

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