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Derivatives Usage in Risk Management by US and German Non-Financial Firms : A Comparative Survey

Bodnar, Gordon M. - 1998

This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. In … choice of instruments, and the influence of their market view when taking derivative positions. These differences appear to …

Persistent link: https://www.econbiz.de/10012472108

Exchange Rate Exposure and Risk Management : The case of Japanese Exporting Firms

Ito, Takatoshi - 2015

This paper investigates the relationship between the Japanese firms' exposure to the exchange rate risk and risk management, such as choice of invoicing currency, and financial and operational hedge. The firm's exposure to the exchange rate risk is estimated by co-movements of the stock prices...

Persistent link: https://www.econbiz.de/10012457628

Derivatives Markets for Home Prices

Shiller, Robert J. - 2008

beginnings of real estate derivative markets is the advance in home price index construction methods, notably the repeat sales …

Persistent link: https://www.econbiz.de/10012464687

Evaluating the Role of Insurance in Managing Risk of Future Pandemics

Kunreuther, Howard; Schupp, Jason - National Bureau of Economic Research - 2021

COVID-19 has demonstrated the challenges that policymakers, insurers, businesses, and employees face when disaster assistance programs are developed after the pandemic has already started. There is now an opportunity to design and implement effective and efficient solutions to manage the...

Persistent link: https://www.econbiz.de/10012585452

Hedging and Competition

Giambona, Erasmo; Kumar, Anil; Phillips, Gordon M. - National Bureau of Economic Research - 2021

We study how risk management through hedging impacts firms and competition among firms in the life insurance industry - an industry with over 7 Trillion in assets and over 1,000 private and public firms. We show that firms that are likely to face costly external finance increase hedging after...

Persistent link: https://www.econbiz.de/10012629427

Why do Bank Boards have Risk Committees?

Stulz, René M.; Tompkins, James G.; Williamson, Rohan; … - National Bureau of Economic Research - 2021

We develop a theory of bank board risk committees. With this theory, such committees are valuable even though there is no expectation that bank risk is lower if the bank has a well-functioning risk committee. As predicted by our theory (1) many large and complex banks voluntarily chose to have a...

Persistent link: https://www.econbiz.de/10012599396

Center Pivot Irrigation Systems as a Form of Drought Risk Mitigation in Humid Regions

Cooley, Daniel J.; Smith, Steven M. - National Bureau of Economic Research - 2022

Irrigation in the Eastern US receives little attention compared to the West, but farmers in humid states of the US, traditionally reliant on rainfall, have more than tripled irrigation since 1978. We examine this trend in Illinois where there has been a nearly threefold increase in center pivot...

Persistent link: https://www.econbiz.de/10013210121

Why Do U.S. Firms Hold So Much More Cash Than They Used To?

Bates, Thomas W. - 2006

The average cash to assets ratio for U.S. industrial firms increases by 129% from 1980 to 2004. Because of this increase in the average cash ratio, American firms at the end of the sample period can pay back their debt obligations with their cash holdings, so that the average firm has no...

Persistent link: https://www.econbiz.de/10012466129

Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates

Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024

In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their assets but left the vast majority of their long-duration assets exposed to interest rate risk. Data from call reports and SEC filings shows that only 6% of U.S. banking assets...

Persistent link: https://www.econbiz.de/10014512148

How Are Insurance Markets Adapting to Climate Change? Risk Selection and Regulation in the Market for Homeowners Insurance

Boomhower, Judson; Fowlie, Meredith; Gellman, Jacob; … - National Bureau of Economic Research - 2024

As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to aid recovery when disasters strike. To perform these functions efficiently, insurers need to access high quality information about disaster risk and set prices that accurately...

Persistent link: https://www.econbiz.de/10014576654

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