the tourism industry, are two of the most important industries in the world today in terms of employment and generating …

. Our results apply to stationary and ergodic time series. In a simulation study we show that our asymptotic theory provides …

-threshold double autoregressive models, a new hyperbolic GARCH model, intraday value-at-risk: an asymmetric autoregressive conditional …

source of international tourism. In order to understand the risk persistence of Chinese tourists, the paper investigates the …. The mean equations associated with GARCH(1,1), GJR(1,1) and EGARCH(1,1) are used to analyse the risk persistence of the …

them and switch to the risk-free rate. In comparison, how might the performance be affected if the frequency is changed to … randomly half the time in stock markets and half in the risk-free rate. …

-free and are relevant to many fields encountering catastrophic risk analysis, such as, perhaps most noticeably, insurance and … risk management. …

. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and … portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option … are different from unconditional projects. We show that although the risk of a portfolio always depends on the correlation …

, risk and dispersion of risk objectives in a Multi-Criteria Optimisation (MCO) portfolio analysis. We vary the MCO return … and risk targets and contrast the results with four more standard portfolio optimisation criteria, namely the tangency …