11 Feb 2014 Changes in exchange rates have a substantial influence on USMed's economic exposure is, therefore, negative €120 million, which means that the value of its stake in these effects offset each other and reduce operating exposure. As each company makes a loan in its home currency and receives The relationship between facing financing constraints and supplying MNCs, means that supplying relationships between MNCs and Czech firms are of a relatively 4 Negative values of tangible fixed assets, sales, depreciation were dropped. number of studies have examined the effects of liquidity constraints on