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Evaluating the Probable Impacts of International Economic Events on Common Stock Returns: An Empirical Study

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  • H L Brewer

    (Grand Valley State Colleges)

  • Robert L Miller

    (The University of Texas at Dallas)

Abstract

The basic question addressed here is: how did the 1971 changes in the exchange rate system affect investor perceptions of the risk and return characteristics of securities of national as opposed to multinational companies? Effects of exchange rates were tested by analyzing security returns for two large samples of firms, one national and the other multinational. The study concludes that international economic events differentially affected national firms and MNCs. Investor perceptions of MNC riskiness appear to have increased relative to national firms while MNC relative returns also adjusted upward.© 1979 JIBS. Journal of International Business Studies (1979) 10, 53–64

Suggested Citation

  • H L Brewer & Robert L Miller, 1979. "Evaluating the Probable Impacts of International Economic Events on Common Stock Returns: An Empirical Study," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 10(3), pages 53-64, September.
    • Handle: RePEc:pal:jintbs:v:10:y:1979:i:3:p:53-64
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