تحليل مخاطر أسعار الصرف على عوائد محافظ الاستثمار لقطاع المصارف في سوق العراق للأوراق المالية للمدة 2015-2017 : بحث مستل من رسالة ماجستير (تحليل مخاطر أسعار الصرف على عوائد محافظ الاستثمار في سوق العراق للأوراق للمدة 2015-2017)‎

الملخص EN

The objective of this study is to measure the impact of exchange rate risk onthe returns of the investment portfolios.

The study relied on a main hypothesis that the exchange rate risk does not affect the returns of the investment portfolios in the Iraqi market for securities.

For the purpose of testing this hypothesis, monthly data are used for 14 investment portfolios for the period from December 2015 to November 2017 according to views of (36) months .

The model of simple linear regression and multiple linear regression are used.

The study finds that the sensitivity response of stock returns to nominal exchange rate fluctuations using the simple model is lower than the response of those returns to nominal exchange rate fluctuations using the multiple model.

The logical explanation behind this is that the multiplex model takes into account the movements of the markets .

The study recommends investors in the Iraqi market for securities to avoid non-scientific methods which based on intuition and guessing in the selection of the portfolio that employ their money in because these methods do not contribute to maximize their returns and reduce the risk of exchange, they exposed to