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PRODID:-//AMSE//Event Calendar//FR
CALSCALE:GREGORIAN
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UID:event-9518@www.amse-aixmarseille.fr
DTSTAMP:20260429T130629Z
CREATED:20260429T130629Z
LAST-MODIFIED:20260429T130629Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:French-Japanese webinar - Willem Thorbecke
DTSTART:20230120T080000Z
DTEND:20230120T090000Z
DESCRIPTION:This paper examines the stock market exposures of sectors in Fr
 ance\, Germany\, Japan\, and South Korea. If a firm in one country competes
  with firms in another country\, an appreciation of its currency relative t
 o its competitors’ currency should lower its profitability and its stock 
 price. If a firm cooperates with firms in another country by purchasing imp
 orted intermediates from them\, an appreciation of its currency relative to
  its comrades’ currency should increase its ability to purchase inputs an
 d raise its profitability and stock price. The results indicate that 60 per
 cent of the sectors examined in France and Germany and 27 percent of the se
 ctors examined in Korea benefit when their currency appreciates against the
  Japanese yen and that virtually no sectors are harmed by yen depreciations
 . This implies that Japanese firms play a vital role as suppliers of interm
 ediate goods to firms in France\, Germany\, and Korea. By contrast\, the re
 sults point to substantial competition between European and Korean firms.\\
 n\\nContact: Gilles Dufrénot: gilles.dufrenot[at]sciencespo-aix.frKiyotaka
  Sato: sato[at]ynu.ac.jp\n\nPlus d'informations: https://www.amse-aixmarse
 ille.fr/en/events/willem-thorbecke-0
URL;VALUE=URI:https://www.amse-aixmarseille.fr/en/events/willem-thorbecke-0
CONTACT:Gilles Dufrénot: gilles.dufrenot[at]sciencespo-aix.frKiyotaka Sato
 :&nbsp\;sato[at]ynu.ac.jp
TRANSP:OPAQUE
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