0000000000044911
AUTHOR
Horobet Alexandra
showing 2 related works from this author
RELEVANCE OF CORPORATE SOCIAL RESPONSIBILITY INDICATORS FOR MEASURING FINANCIAL PERFORMANCE
2013
Clarifying the impact of corporate social responsibility on the economic and/or financial performance of the firm has been the subject of numerous studies, which focus on the nature of the interaction between the ability of companies to achieve a high level of corporate social responsibility on the one hand, and financial performance, on the other. The paper aims to contribute to the literature in this field by studying the relevance of stock exchange indexes built on the principles of corporate social responsibility as a tool to measure the financial performance of firms that adopt corporate social responsibility as manner of approach to business.
HEDGING CURRENCY RISK IN EUROPEAN STOCK MARKETS: EVIDENCE FROM THE CURRENT FINANCIAL CRISIS
2012
Our paper examines the impact of currency risk on investments made by a Euro based investor in European countries in normal versus turbulent times. We use unhedged and hedged stock market returns to see whether the performance of portfolios made up of stocks from developed markets could be enhanced by including stocks from emerging markets and hedging currency risk. The contribution of currency risk is highly fluctuating, but generally positive, indicating that currency risk adds to the local market risk. Hedging currency risk is a good choice when short-selling is allowed; however, the constraint of no short-selling alters this pattern.