Narrow search
Showing 1 - 10 of 10,219
Cover Image
CEO inside debt and hedging decisions : lessons from the US banking industry
Belkhir, Mohamed; Boubaker, Sabri - In: Journal of international financial markets, … 24 (2013), pp. 223-246
Persistent link: https://www.econbiz.de/10009726373
Cover Image
CEO Inside Debt and Hedging Decisions : Lessons from the U.S. Banking Industry
Belkhir, Mohamed - 2012
inside debt holdings have a positive effect on the extent to which a bank uses interest rate derivatives for hedging purposes …
Persistent link: https://www.econbiz.de/10013097545
Cover Image
Trading away incentives
Colonnello, Stefano; Curatola, Giuliano Antonio; Xia, Shuo - 2022 - This draft: October 19, 2022
Equity pay has been the primary component of managerial compensation packages at US public firms since the early 1990s. Using a comprehensive sample of top executives from 1992-2020, we estimate to what extent they trade firm equity held in their portfolios to neutralize increments in ownership...
Persistent link: https://www.econbiz.de/10013411812
Cover Image
Equity incentives, disclosure quality, and stock liquidity risk
Wruck, Karen H.; Wu, Yi Lin - 2017
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...
Persistent link: https://www.econbiz.de/10011963233
Cover Image
Industry Tournament Incentives and Corporate Hedging Policies
Lonare, Gunratan - 2020
corporate hedging policies. We exploit the textual analysis of 10-Ks to generate corporate hedging proxies. We find that the … of corporate hedging on the adverse effects of risk-inducing ITIs on the cost of debt and stock price crash risk, which … could be the possible reasons for the relation. Also, the relation between ITIs and corporate hedging is less pronounced for …
Persistent link: https://www.econbiz.de/10012849052
Cover Image
Executive stock options, differential risk-taking incentives, and firm value
Armstrong, Christopher S.; Vashishtha, Rahul - In: Journal of Financial Economics 104 (2012) 1, pp. 70-88
The sensitivity of stock options' payoff to return volatility, or vega, provides risk-averse CEOs with an incentive to increase their firms' risk more by increasing systematic rather than idiosyncratic risk. This effect manifests because any increase in the firm's systematic risk can be hedged...
Persistent link: https://www.econbiz.de/10010571660
Cover Image
Market timing, maturity mismatch, and risk management : evidence from the banking industry
Ruprecht, Benedikt; Entrop, Oliver; Kick, Thomas; … - 2013
compliance with the interest rate risk regulation. Although hedging motives dominate, we find selective hedging behavior in swap …
Persistent link: https://www.econbiz.de/10010248947
Cover Image
Market timing, maturity mismatch, and risk management : evidence from the banking industry ; conference paper
Ruprecht, Benedikt; Entrop, Oliver; Kick, Thomas; … - 2013
the interest rate risk regulation. Although hedging motives dominate, we find selective hedging behavior in swap use …
Persistent link: https://www.econbiz.de/10010343773
Cover Image
Noise Hedging and Executive Compensation
Doherty, Neil A. - 2013
We address two apparent paradoxes of risk management: (1) managers hedge in order to avoid negative earnings surprises, yet they tend to hedge risks uninformative of the value of the company; and (2) the presence of options in managers' compensation distorts their incentive to hedge, inducing...
Persistent link: https://www.econbiz.de/10013092522
Cover Image
The dominant currency financing channel of external adjustment
Casas, Camila; Meleshchuk, Sergii; Timmer, Yannick - 2023
to higher delinquencies and interest rates, while exports are unaffected. Natural and financial hedging successfully mute …
Persistent link: https://www.econbiz.de/10014304470