We propose a citation-based framework for the assessment of journal influence and demonstrate its application with the Journal of Banking and Finance. The framework assesses the current position of the journal, its trends and the reasons behind the trends. The Journal of Banking and Finance is...

We examine the effects of both financial and operational hedging on jet fuel exposure in the U.S. airline industry. Specifically, we investigate two operational hedging strategies: the extent to which airlines operate different aircraft types and the degree to which airlines operate...

This impressive Handbook presents the quantitative techniques that are commonly employed in empirical finance research together with real-world, state-of-the-art research examples.

For a variety of reasons, the U.S. airline industry is a natural sample to analyze the relation between corporate risk exposure, hedging policy, and firm value. First, we find that airline exposures to fuel prices are higher when fuel prices are high or when they are rising. Second, we analyze...

Using pooled data, we study the forward discount bias (FDB) of 24 British pound and 24 euro exchange rates. The results show a FDB during “non-crisis” periods, which is more pronounced for advanced than emerging economies. This finding is especially striking during the period of the European...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>This article explores the motivation to change their defined benefit pension plan by either terminating the plan and replacing it with a defined contribution plan or converting it to a cash balance plan. Using Form 5500 data as well as firm financial data, we...</p>

Recent studies suggest that analyst ratings have become less biased following the Global Settlement and National Association of Securities Dealers (NASD) and New York Stock Exchange (NYSE) Rules implemented in 2002. Assuming analyst ratings are more reliable due to the decline in positive bias,...

This article discusses the findings and practical import of the authors' study of the fuel hedging activity of 28 U.S. airlines during the period 1992-2003. The aim of the study was to answer the following question: Does fuel hedging add value to the airlines and, if so, how? The airline...

This article describes the five-year implementation of enterprise risk management at Hydro One, a Canadian electric utility in a newly deregulated market. Starting with the creation of the position of Chief Risk Officer and the implementation of a pilot risk study involving one of the firm's...

We investigate analyst forecasts in a unique setting, the natural gas storage market, and study the contribution of analysts in facilitating price discovery in futures markets. Using a high‐frequency database of analyst storage forecasts, we show that the market appears to condition...