Abstract
The major sources of financial uncertainty for firms engaged in international business arise from changes in exchange rates and changes in exchange controls — events which are not readily predictable. The risks of changes in exchange rates — both of changes in parities under a pegged rate system and fluctuations under a floating rate system — are inherent in a system of national currencies, just as the risks of changes in exchange controls and of expropriation are inherent in a system of multiple sovereigns.
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Sources
David K. Eiteman and Arthur I. Stonehill, Multinational Business Finance ( Reading, Mass.: Addison-Wesley, 1973 ).
J. Fred Weston and Bart W. Sorge, International Managerial Finance ( Homewood, Ill.: Richard D. Irwin, 1972 ).
David B. Zenoff and Jack Zwick, International Financial Management ( Englewood Cliffs, N.J.: Prentice-Hall, 1969 ).
Sidney M. Robbins and Robert B. Stobaugh, Money in the Multinational Enterprise ( New York: Basic Books, 1973 ).
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© 1978 Robert Z. Aliber
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Aliber, R.Z. (1978). Introduction. In: Exchange Risk and Corporate International Finance. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03362-1_1
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DOI: https://doi.org/10.1007/978-1-349-03362-1_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-03364-5
Online ISBN: 978-1-349-03362-1
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