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 …

bad past performance than unleveraged funds, which has the potential to exacerbate systemic risk. Second, it devises a … will be made available to the European Securities Markets Authority (ESMA) and the European Systemic Risk Board (ESRB) in …

capital and its impact on bond risk premia. We show that institutional fund managers trade strongly procyclically: they … versa. Funds more exposed to negative yields increase their risk-taking more strongly, and this effect is particularly …

This paper studies the evolution of the greenium, i.e. a risk premium linked to firms' greenness and environmental … transparency, based on individual stock returns. We estimate an asset pricing model with time-varying risk premia, where the …