Does freezing a defined benefit pension plan affect firm risk?

This paper examines the impact of a defined benefit (DB) pension plan freeze on the sponsoring firm's risk and risk-taking activities. Using a sample of firms declaring a hard freeze on their DB plans between 2002 and 2007, we observe an increase in total risk (proxied by the standard deviation...

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Veröffentlicht in:	Journal of accounting & economics 2014-02, Vol.57 (1), p.1-21
Hauptverfasser:	Choy, Helen, Lin, Juichia, Officer, Micah S.
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital expenditure Credit ratings Credit risk Defined benefit pension plan Defined benefit plans Equity Financial risks Firm risk Investment policy Investment strategies Managers Pension plan freeze Pension plans Pension schemes R&D Research & development Risk assessment Risk-taking activities Standard deviation Studies
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