Does Multinationality Matter for Exchange Exposure? Implications of Operational Hedging Jongmoo Jay Choi* and Cao Jiang *J.J. Choi (corresponding author), Department of Finance, Temple University, Fox School of Business, Philadelphia, P.A. 19122 (phone: 215-204-5084; fax: 215-204-1697 (email: [email protected]) C. Jiang, School of Business Administration, Holy Family University, Philadelphia, PA 19114 (email: [email protected]) An earlier version of this paper was presented at the Southern Finance Association meeting. Helpful comments and suggestions were received from Raj Aggarwal, Delroy Hunter, James Landi, Brian Lucey, and Colm Kearney. Partial supports from the Center for International Business Education and Research at Temple are gratefully acknowledged. January 2007
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