Choy, Helen; Lin, Juichia; Officer, Micah S. - In: Journal of Accounting and Economics 57 (2014) 1, pp. 1-21
This paper examines the impact of a defined benefit (DB) pension plan freeze on the sponsoring firm's risk and risk-taking activities. Using a sample of firms declaring a hard freeze on their DB plans between 2002 and 2007, we observe an increase in total risk (proxied by the standard deviation...
