The DOI matches its Crossref record; 17 of the 17 references it cites were found in a registry or an index.
Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry
Abstract
This article examines a new database that details corporate risk management activity in the North American gold mining industry. I find little empirical support for the predictive power of theories that view risk management as a means to maximize shareholder value. However, firms whose managers hold more options manage less gold price risk, and firms whose managers hold more stock manage more gold price risk, suggesting that managerial risk aversion may affect corporate risk management policy. Further, risk management is negatively associated with the tenure of firms' CFOs, perhaps reflecting managerial interests, skills, or preferences.
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Cites
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Executive compensation structure, ownership, and firm performance
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Risk Management: Coordinating Corporate Investment and Financing Policies
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Cited by
Corporate Ownership Around the World
La Porta, R., Lopez‐De‐Silanes, F., & Shleifer, A. (1999) · The Journal of Finance · doi:10.1111/0022-1082.00115 · Cited by 10,541
Corporate Ownership Around the World
La Porta, R., Lopez de Silanes, F., & Shleifer, A. (1998) · SSRN Electronic Journal · doi:10.2139/ssrn.103130 · Cited by 1,902
Are CEOs Rewarded for Luck? The Ones Without Principals Are
Bertrand, M., & Mullainathan, S. (2001) · The Quarterly Journal of Economics · doi:10.1162/00335530152466269 · Cited by 1,740
Why Firms Use Currency Derivatives
GÉCZY, C., MINTON, B. A., & SCHRAND, C. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb01112.x · Cited by 1,156
The information content of mandatory risk factor disclosures in corporate filings
Campbell, J. L., Chen, H., Dhaliwal, D. S., Lu, H.-M., & Steele, L. B. (2014) · Review of Accounting Studies · doi:10.1007/s11142-013-9258-3 · Cited by 923
Metadata
- Authors
- TUFANO, P.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1996-09
- Volume
- 51
- Issue
- 4
- Pages
- 1097-1137
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2122131936
- Cited by
- 1,431
- References
- 17
- FWCI
- 132.92
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
