Bartram, Söhnke M. (2002) The interest rate exposure of nonfinancial corporations. European Finance Review, 6 (1). pp. 101-125. doi:10.1023/A:1015024825914 ISSN 1382-6662.

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Abstract

Many interest rates are as volatile as exchange rates and thus represent an equally important source of risk for corporations. While this is true not only for financial institutions, but for other corporations as well, little is known about the interest rateexposure of nonfinancial firms. Consequently, this paper investigates the impact of interest rate risk on a large sample of nonfinancial corporations. It presents empirical evidence for the existence of linear and nonlinear exposures with regard to movements invarious interest rate variables. The interest rate exposure is empirically determinedbymeasures of firm liquidity, but not by financial leverage. JEL classification codes: G3, F4, F3

Item Type:	Journal Article
Divisions:	Faculty of Social Sciences > Warwick Business School
Journal or Publication Title:	European Finance Review
Publisher:	Oxford University Press
ISSN:	1382-6662
Official Date:	2002
Dates:	Date Event 2002 Published
Volume:	6
Number:	1
Page Range:	pp. 101-125
DOI:	10.1023/A:1015024825914
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access

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