Sorry, but you are wrong. Here is the proof:

#include <stdio.h>
#include <sys/types.h>
#include <sys/stat.h>

int main( int argc, char **argv ) {
    struct _stat buf1, buf2;
    char *file = "\"\"";

    printf( "for %s; stat returned: %d\n", file, _stat( file, &buf1 ) 
+);

    printf(
        "gid: %d\natime:%I64x\nctime:%I64x\ndrive:%d\n"
        "inode:%d\nmode:%x\nmtime:%I64x\nnlink:%d\nrdev:%d\n"
        "size:%d\nuid:%d\n",
        buf1.st_gid, buf1.st_atime, buf1.st_ctime, buf1.st_dev,
        buf1.st_ino, buf1.st_mode, buf1.st_mtime, buf1.st_nlink, buf1.
+st_rdev,
        buf1.st_size, buf1.st_uid
    );

    printf( "\nFor %s; stat returned: %d\n", argv[1], _stat( argv[1], 
+&buf2 ) );

    printf(
        "gid: %d\natime:%I64x\nctime:%I64x\ndrive:%d\n"
        "inode:%d\nmode:%x\nmtime:%I64x\nnlink:%d\nrdev:%d\n"
        "size:%d\nuid:%d\n",
        buf2.st_gid, buf2.st_atime, buf2.st_ctime, buf2.st_dev,
        buf2.st_ino, buf2.st_mode, buf2.st_mtime, buf2.st_nlink, buf2.
+st_rdev,
        buf2.st_size, buf2.st_uid
    );
    return 1;
}
[download]

That code first stats the filename '""'; then it stats the pathname passed from the command line in argv1.

Run passing the path of the current directory, both sets of stats are identical:

C:\test>stat c:\test
for ""; stat returned: 0
gid: 0
atime:4ff203c6
ctime:49bba448
drive:2
inode:0
mode:41ff
mtime:4ff203c6
nlink:1
rdev:2
size:0
uid:0

For c:\test; stat returned: 0
gid: 0
atime:4ff203c6
ctime:49bba448
drive:2
inode:0
mode:41ff
mtime:4ff203c6
nlink:1
rdev:2
size:0
uid:0
[download]

Explain that in any way other than '""' is being taken to mean 'the current directory'?