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 …

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 …

of small firms are a consequence of higher risk and larger debt burden of small firms in comparison with large firms. In … risk measure. The results are similar across 13 industries and caution against seeing firm size as a direct factor …

is applied. To highlight this point, the author has indicated substantial differences in the management of financial risk …