Understanding the effects of off-balance sheet transactions on interest and exchange rate exposures has become more important for emerging market countries that are experiencing remarkable growth in derivatives markets. Using firm level data, we report a significant fall in exposure over the...

Using data on junior golf tournaments, we find evidence that the “hot hand” does exist, and that its prevalence decreases as golfers gain experience. This provides an explanation as to why studies that consider professional athletes conclude that the hot hand does not exist. We also show...