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Cited by 292

The DOI matches its Crossref record; 36 of the 36 references it cites were found in a registry or an index.

Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt

Open access
FAULKENDER, MICHAEL·2005·The Journal of Finance
DOI 10.1111/j.1540-6261.2005.00751.x
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Abstract

This paper examines whether firms are hedging or timing the market when selecting the interest rate exposure of their new debt issuances. I use a more accurate measure of the interest rate exposure chosen by firms by combining the initial exposure of newly issued debt securities with their use of interest rate swaps. The results indicate that the final interest rate exposure is largely driven by the slope of the yield curve at the time the debt is issued. These results suggest that interest rate risk management practices are primarily driven by speculation or myopia, not hedging considerations.

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Crossref · 10.1111/j.1540-6261.2005.00751.x

Cites

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Metadata

Authors
FAULKENDER, M.
Venue
The Journal of Finance
Publisher
Wiley
Published
2005-03-02
Volume
60
Issue
2
Pages
931-962
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2005.00751.x
OpenAlex
W3125043003
Cited by
292
References
36
FWCI
56.10
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt. https://app.cochat.ai/papers/10.1111/j.1540-6261.2005.00751.x
The paper
FAULKENDER, M. (2005). Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2005.00751.x

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.