Nocco, Brian W. (contributor); Stulz, René M. (contributor) - 2006
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* Chief Risk Officer, Nationwide Insurance, and Reese Chair in Banking and Monetary Economics, Ohio
State University, NBER … transfer markets. For instance, a firm that finds a way to expand its business
profitably cannot hedge cheaply many of the …. Since firms cannot cheaply reduce their
exposure to risks that are unique to their business, this makes it even more …