Abstract:In this study, exchange rate exposures of tourism firms, whose shares are traded in Borsa İstanbul (BIST), were investigated. In this manner, the data pertaining to eight tourism firms, whose shares are traded in BIST, were included in analyses for July 2002 -June 2010. A regression model, which was developed by adding the exchange rate factor to the FamaFrench three-factor model, was used in the study. Analysis results revealed that exchange rate risk is a crucial risk factor for three tourism firms. However,… Show more
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