Asian Crisis and the Exposure of Large United States Firms (ICPSR 1217)

Published: May 2, 2000

Principal Investigator(s):
William R. Emmons, Federal Reserve Bank of St. Louis; Frank A. Schmid, Federal Reserve Bank of St. Louis

https://doi.org/10.3886/ICPSR01217.v1

Version V1

A deep financial and economic crisis ravaged many Asian nations during 1997 and 1998. In this article, the authors examine the impact of the crisis on corporate risk for a subset of large United States firms that are included in the Standard & Poor (S&P) 100 stock market index. They find that the Asian crisis changed many of these firms' exposure to stock market movements -- that is, their "betas," or sensitivity to stock market risk. In particular, the extent of a firm's sales exposure to Asia appears to be an important link through which the crisis affected beta. This effect is amplified by greater financial leverage.

Emmons, William R., and Schmid, Frank A. Asian Crisis and the Exposure of Large United States Firms . Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2000-05-02. https://doi.org/10.3886/ICPSR01217.v1

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These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigators if further information is desired.

The files are 0001wed.zip, which unzips to the data files, and 0001wep.zip, which unzips to a program file.

2000-05-02

2000-05-02

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