Egly, Peter V.; Sun, Jun - In: The Quarterly Review of Economics and Finance 54 (2014) 3, pp. 355-370
Derivative markets have exploded over the last decade, remained active in the midst of the 2007–2009 financial crisis and continue to be dominated by a small group of bank holding companies (BHC). BHC motives for derivative usage are usually tied to hedging purposes (balance sheet risk...