Family Ownership and Exchange Rate Exposure: New Evidence from India

Sikarwar, Ekta (2016) Family Ownership and Exchange Rate Exposure: New Evidence from India. TAPMI, Manipal, Manipal.

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Abstract

This paper provides new evidence on the relationship between family ownership and exchange rate exposure. For a sample of 651 Indian firms over the period from 2001 to 2013, we find a significant non-monotonic cubic relationship. Exchange rate exposure increases with family ownership at low and high levels (as a result of the entrenchment or expropriation effect) and decreases with family ownership at intermediate levels (as a consequence of the convergence-of-interest or monitoring effect). The study has important theoretical and practical implications.

Item Type:	TAPMI Working Papers
Uncontrolled Keywords:	Exchange rate exposure, family ownership, India
Subjects:	Finance > Financial Economics
Divisions:	Finance and Strategy
Depositing User:	Ms. Vanitha K
Date Deposited:	29 Oct 2018 09:20
Last Modified:	29 Oct 2018 09:20
URI:	http://tapmi.informaticsglobal.com/id/eprint/219

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