ツチヤ　ヨウイチ   TSUCHIYA YOICHI   土屋　陽一    所属   明治大学  商学部    職種   専任教授
言語種別	英語
発行・発表の年月	2014/01
形態種別	学術雑誌
査読	査読あり
標題	A directional evaluation of corporate executives' exchange rate forecasts
執筆形態	単著
掲載誌名	Applied Economics
掲載区分	国外
出版社・発行元	ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
巻・号・頁	46(1),pp.95-101
著者・共著者	Y. Tsuchiya
概要	We investigate the directional accuracy of exchange rate forecasts by corporate executives. We find that a forecast with a 1-year horizon is valuable for the profitability and unprofitability predictions of manufacturers, although previous studies provide considerable evidence that forecasts with horizons of 1 year and longer are not valuable. However, a forecast is not valuable in predicting an appreciation or depreciation of the exchange rate. Our findings suggest that corporate executives are more concerned about and focused on the impact of the exchange rate on their profitability, rather than the exchange rate itself.
DOI	10.1080/00036846.2013.831173
ISSN	0003-6846
PermalinkURL	http://www.scopus.com/inward/record.url?eid=2-s2.0-84885168263&partnerID=MN8TOARS
researchmap用URL	http://orcid.org/0000-0003-2485-3959