JER, 第 11 卷

additional analysis approximation assets assume assumption average capital cash changes coefficient condition consistent consumption correlation cost countries currency debt default dependent derivatives distribution Economic effect empirical environmental accidents equation equity errors estimated exchange rate expected firm's flow forecasting foreign function futures futures prices given hedging higher home firm home government important increase industry initial interest rate swaps International investment Journal Korea land learning linear lobbying marginal mean measures Note optimal output parameters performance period portfolio positive predictability present probability problem production profits ratio real estate reduce regime regression relative reported representative Research respectively response risk sample selected shock shows significant statistic stock prices stock returns strategic structure subsidy substitute suggest swap users Table term theory tion trade transition University utility variable