• Introduction (11)
  • Problem Background (11)
  • Research Objectives (12)
  • Research Questions (13)
  • Organization of Thesis (14)
• Literature Review (15)
  • Relationships Between Stock Returns and Exchange Rate Fluctuations (15)
  • Foreign Exchange Rate Exposure Determinants (16)
    • Firm-Specific Factors (16)
  • Interpretable Machine Learning Methods (18)
    • The Importance of Interpretability (18)
    • CART and Its Applications in Finance (19)
    • Advantages and Disadvantages of Using the CART Algorithm (20)
    • Optimal Classification Trees (OCT) (21)
  • Research Gap and Contribution (22)
• Methodology (24)
  • Study Sample (25)
  • Data Analysis Methods (30)
    • Distributed Lag Modeling (30)
    • Decision Tree Modeling (32)
  • Sources of Data (37)
  • Data Preparation (38)
• Results (43)
  • Regression Outcomes (43)
  • OCT Outcomes (47)
• Discussion and Conclusion (52)
  • Strengths and Limitations (52)
  • Directions for Further Research (53)
• Bibliography (53)
• Appendices (59)
• OCT Model Splits Information (60)