تاثیر نرخ ارز خارجی بر ریسک شرکت های نفتی در بازار سهام: رویکرد سوئیچ مارکوف

Additionally, we evaluated impact of the Foreign Exchange Rate fluctuations on the VaR of SROCOIs that were calculated from the optimal models under two regimes using ARDL model. The results further demonstrated that foreign exchange rate fluctuations have significant and different impacts on the VaR of SROCOIs across regimes.