Exponentiation in power series fields

We prove that for no nontrivial ordered abelian group G does the ordered power series field R((G)) admit an exponential, i.e. an isomorphism between its ordered additive group and its ordered multiplicative group of positive elements, but that there is a non-surjective logarithm. For an arbitrary ordered field k, no exponential on k((G)) is compatible, that is, induces an exponential on k through the residue map. This is proved by showing that certain functional equations for lexicographic powers of ordered sets are not solvable.