Search Results
Journal Article
Stock margins and the condition probability of price reversals
Does the cost of trading affect stock prices? Yes, according to the evidence in this article. The authors find that high costs seem to reduce the frequency of price reversals.
Working Paper
Interest-rate derivatives and bank lending
We study the relationship between bank participation in derivatives contracting and bank lending for the period June 30, 1985 through the end of 1992. Since 1985 commercial banks have become active participants in the interest-rate derivative products markets as end-users, or intermediaries, or both. Over much of this period significant changes were made in the composition of bank portfolios. We find that banks which utilized interest-rate derivatives experienced greater growth in their commercial and industrial (C&I) loan portfolios than banks which did not use these financial instruments. ...
Journal Article
The value of using interest rate derivatives to manage risk of U.S. banking organizations
This article examines the major differences in the accounting and stock market characteristics of banking organizations that use derivatives relative to those that do not.
Conference Paper
The effect of bank-held derivatives on credit accessibility