This paper documents evidence on the efficacy of maturity gap disclosures and interest rate risk policy disclosures of commercial bank holding companies in indicating their interest rate risk exposures. Using data from the Federal Reserve Y-9 reports over 1991-1996, we find a significant...

We examine explanations for corporate policy choices related to the use of derivative financial instruments. Recent corporate disclosure requirements allows us to replicate and extend the work of Nance, Smith and Smithson (1993, NSS) using a larger sample. We extend previous research by...

This study analyzes the association between the degree of international involvement (DOI) and risk. Both systematic risk (measured by the market model beta) and total rishk (measured by variance of return) are analyzed. Betas of fully diversified foreign stock portfolios are shown to be lower...