) and the portion of risk hedged (small or large). We find that when disclosure formats are mismatched, the less comparable …, risk and investment judgments were influenced by the more prominent quantitative hedging instrument disclosures. Our second …

item disclosures alongside quantitative hedging instrument risk disclosures, affects investors' integration of information … from these two related disclosures. Our first experiment varies the hedged item risk disclosure format (quantitative or … qualitative) and the portion of risk hedged (small or large). We find that when disclosure formats are mismatched, the less …

dynamic trading strategy based on the sponsor's shares.The paper "Managing Sponsor Risk in Pension Plans: Dynamic Strategies …

active role in managing these risks? We study contingent risk management (hedging) in a standard global-games model of a bank … run. Banks fail to hedge precisely when the exposure to a shock is most severe, just when risk management would have the … biggest impact. Higher bank capital and broader deposit-insurance coverage crowd out hedging by banks that already manage risk …

its counterparties: 1) correlation across and within derivative classes (i.e., systematic risk), 2) collateralization of …Through the lens of market participants' objective to minimize counterparty risk, we provide an explanation for the … reluctance to clear derivative trades in the absence of a central clearing obligation. We develop a comprehensive understanding …

This paper provides initial evidence on counterparty risk-mitigation activities of financial institutions on the basis … successive contracts and purchase protection written on them, even avoiding wrong-way risk mitigation. Higher stock return and … protection purchase on the counterparty would diminish the required capital, this type of risk mitigation could follow regulatory …

This paper provides initial evidence on counterparty risk-mitigation activities of financial institutions on the basis … successive contracts and purchase protection written on them, even avoiding wrong-way risk mitigation. Higher stock return and … protection purchase on the counterparty would diminish the required capital, this type of risk mitigation could follow regulatory …

Mutual fund risk-taking via active portfolio rebalancing varies both in the cross-section and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …

Mutual fund risk-taking via active portfolio rebalancing varies both in the crosssection and over time. In this paper …, I show that the same is true for funds' off- balance sheet risk-taking, even after controlling for on-balance sheet … information. In the empirical application, I show that German equity funds have increased their risk-taking via synthetic leverage …