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Cited by 268

The DOI matches its Crossref record; 31 of the 31 references it cites were found in a registry or an index.

Hedging and Coordinated Risk Management: Evidence from Thrift Conversions

Schrand, Catherine, Unal, Haluk·1998·The Journal of Finance
DOI 10.1111/0022-1082.00041
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Abstract

We provide an explanation for hedging as a means of allocating rather than reducing risk. We argue that when increases in total risk are costly, firms optimally allocate risk by reducing (increasing) exposure to risks that provide zero (positive) economic rents. Our evidence shows that mutual thrifts that convert to stock institutions increase total risk following conversion, consistent with their increased abilities and incentives for risk taking. They achieve this increase by hedging interest‐rate risk and increasing credit risk. We provide some evidence that risk‐management activities are related to growth capacity and management compensation structure attained at conversion.

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Crossref · 10.1111/0022-1082.00041

Cites

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Metadata

Authors
Schrand, C., & Unal, H.
Venue
The Journal of Finance
Publisher
Wiley
Published
1998-06
Volume
53
Issue
3
Pages
979-1013
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.00041
OpenAlex
W1967056321
Cited by
268
References
31
FWCI
53.80
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Hedging and Coordinated Risk Management: Evidence from Thrift Conversions. https://app.cochat.ai/papers/10.1111/0022-1082.00041
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Schrand, C., & Unal, H. (1998). Hedging and Coordinated Risk Management: Evidence from Thrift Conversions. The Journal of Finance. https://doi.org/10.1111/0022-1082.00041

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.