Benson, Karen L.; Faff, Robert W.; Nowland, John - In: Australian Journal of Management 32 (2007) 2, pp. 271-292
In this paper we examine the extent to which derivatives are used to affect the risk-shifting behaviour of Australian equity fund managers. We find, after periods of good and poor performance, the risk-shifting behaviour of fund managers is different between derivative users and non-users. Our...