This paper investigates how the nature of risk changes as investment horizon lengthens, and what it means for investors … equities, bonds and cash may vary with horizon is also discussed, including highlighting why fixed income may not be a low risk …

investment and expected returns. In imperfectly competitive industries, a firm's exposure to systematic risk is jointly affected …

Failure to correct for pension risk leads to upward-biased discount rate estimates in firms with pension risk exposure …. The result is a negative and economically significant relation between pension risk and corporate investment. The effect …