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Do Firms Engage in Risk-Shifting? Empirical Evidence

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Cited by:

  1. Ferriani, Fabrizio & Veronese, Giovanni, 2018. "U.S. shale producers: a case of dynamic risk management?," MPRA Paper 88279, University Library of Munich, Germany.
  2. Feng, Felix Zhiyu & Westerfield, Mark M., 2021. "Dynamic resource allocation with hidden volatility," Journal of Financial Economics, Elsevier, vol. 140(2), pages 560-581.
  3. Erwan Morellec & Boris Nikolov & Norman Schürhoff, 2018. "Agency Conflicts around the World," The Review of Financial Studies, Society for Financial Studies, vol. 31(11), pages 4232-4287.
  4. Kirti, Divya, 2024. "When gambling for resurrection is too risky," Journal of Banking & Finance, Elsevier, vol. 162(C).
  5. Goncharenko, Roman & Ongena, Steven & Rauf, Asad, 2021. "The agency of CoCos: Why contingent convertible bonds are not for everyone," Journal of Financial Intermediation, Elsevier, vol. 48(C).
  6. Peydró, José-Luis & Polo, Andrea & Sette, Enrico, 2020. "Risk Mitigating versus Risk Shifting: Evidence from Banks Security Trading in Crises," CEPR Discussion Papers 15473, C.E.P.R. Discussion Papers.
  7. Liu, Zack & Schiff, Avishai & Swem, Nathan, 2024. "Access to capital and investment composition: Evidence from fracking in North Dakota," Journal of Banking & Finance, Elsevier, vol. 161(C).
  8. Lin, Steve & Sawani, Assma & Wang, Changjiang, 2023. "Managerial stock ownership, debt covenants, and the cost of debt," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
  9. Imes, Matthew & Anderson, Ronald, 2021. "Executive risk-taking and the agency cost of debt," Journal of Empirical Finance, Elsevier, vol. 64(C), pages 78-94.
  10. Ferriani, Fabrizio & Veronese, Giovanni, 2022. "Hedging and investment trade-offs in the U.S. oil industry," Energy Economics, Elsevier, vol. 106(C).
  11. Ge, Shan & Weisbach, Michael S., 2021. "The role of financial conditions in portfolio choices: The case of insurers," Journal of Financial Economics, Elsevier, vol. 142(2), pages 803-830.
  12. Felix Feng, 2018. "Dynamic Compensation under Uncertainty Shocks and Limited Commitment," 2018 Meeting Papers 159, Society for Economic Dynamics.
  13. Baldenius, Tim & Deng, Mingcherng & Li, Jing, 2024. "Accounting information and risk shifting with asymmetrically informed creditors," Journal of Accounting and Economics, Elsevier, vol. 77(2).
  14. Goncharenko, Roman & Ongena, Steven & Rauf, Asad, 2017. "The agency of CoCo: Why do banks issue contingent convertible bonds?," CFS Working Paper Series 586, Center for Financial Studies (CFS).
  15. Wu, Zhanchi & Fan, Xiangjun & Zhu, Bangzhu & Xia, Jiahui & Zhang, Lin & Wang, Ping, 2022. "Do government subsidies improve innovation investment for new energy firms: A quasi-natural experiment of China's listed companies," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
  16. Kim, J.H. John & Anderson, Ronald, 2024. "CEO narcissism and the agency cost of debt," Journal of Empirical Finance, Elsevier, vol. 77(C).
  17. McKee, Eric, 2022. "Risk-shifting: Evidence from the 2007 credit crisis," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
  18. Ersahin, Nuri & Irani, Rustom M. & Le, Hanh, 2021. "Creditor control rights and resource allocation within firms," Journal of Financial Economics, Elsevier, vol. 139(1), pages 186-208.
  19. Heller, Yuval & Peleg Lazar, Sharon & Raviv, Alon, 2022. "Banks’ risk taking and creditors’ bargaining power," Journal of Corporate Finance, Elsevier, vol. 74(C).
  20. Nejadmalayeri, Ali & Rosenblum, Aaron, 2022. "Distressed acquirers and the bright side of financial distress," International Review of Financial Analysis, Elsevier, vol. 83(C).
  21. Dirk Hackbarth & Alejandro Rivera & Tak-Yuen Wong, 2022. "Optimal Short-Termism," Management Science, INFORMS, vol. 68(9), pages 6477-6505, September.
  22. Li, Keming & Lockwood, Jimmy & Miao, Hong, 2017. "Risk-shifting, equity risk, and the distress puzzle," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 275-288.
  23. Nicolas Aragon, 2022. "Debt Overhang, Risk Shifting and Zombie Lending," Working Papers 01/2022, National Bank of Ukraine.
  24. Mansi, Sattar A. & Qi, Yaxuan & Wald, John K., 2021. "Bond covenants, bankruptcy risk, and the cost of debt," Journal of Corporate Finance, Elsevier, vol. 66(C).
  25. (DJ) Fairhurst, Douglas & Liu, Yanguang & Ni, Xiaoran, 2020. "Employment protection and tax aggressiveness: Evidence from wrongful discharge laws," Journal of Banking & Finance, Elsevier, vol. 119(C).
  26. Huang, Yin-Siang & Lee, Cheng-Few & Lin, Chih-Yung, 2023. "Applications of fixed effect models to managerial risk-taking incentives," The Quarterly Review of Economics and Finance, Elsevier, vol. 92(C), pages 249-261.
  27. Francis, Bill & Teng, Haimeng & Wang, Ying & Wu, Qiang, 2022. "The effect of shareholder-debtholder conflicts on corporate tax aggressiveness: Evidence from dual holders," Journal of Banking & Finance, Elsevier, vol. 138(C).
  28. Ferriani, Fabrizio & Natoli, Filippo & Veronese, Giovanni & Zeni, Federica, 2018. "Futures risk premia in the era of shale oil," MPRA Paper 89097, University Library of Munich, Germany.
  29. Alejandro Drexler & Thomas B. King, 2021. "Capital Constraints and Risk Shifting: An Instrumental Approach," Working Paper Series WP-2021-13, Federal Reserve Bank of Chicago.
  30. Meng, Qingbin & Li, Haitong & Chan, Kam C., 2023. "Fleeing entrepreneurs: Foreign residency right and corporate risk-taking," Research in International Business and Finance, Elsevier, vol. 65(C).
  31. Fulvia Fringuellotti & Thomas Kroen, 2024. "Payout Restrictions and Bank Risk-Shifting," Staff Reports 1123, Federal Reserve Bank of New York.
  32. Vuillemey, Guillaume, 2020. "Evading Corporate Responsibilities: Evidence from the Shipping Industry," CEPR Discussion Papers 15291, C.E.P.R. Discussion Papers.
  33. Cheng, Lingsha & Cheung, Adrian (Waikong), 2021. "Is there a dark side of managerial ability? Evidence from the use of derivatives and firm risk in China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(2).
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