Main Article Content
Abstract
Foreign exchange exposure has been one of the core issues of international financial management for many years. However, there still exists a considerable amount of confusion and ambiguity regarding the measurement of foreign exchange exposure. Of the many studies that have been carried out to propose a method to measure foreign exchange exposure, one that has been mostly often quoted and used is the measure proposed by Michael Adler and Bernard Dumas. Based on their seminal and by resorting to the Capital Asset Pricing Model (CAPM), the current study is an honest attempt to measure the foreign exchange exposure of firms from the Indian pharmaceutical industry.
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