business models has led to an expansion of the risk taxonomy affecting corporate management. In addition to traditional … financial risks, new risks have emerged, primarily climate risk, environmental, and energy risks, which can significantly impact …

risk of risky assets. Instead, it claims that capital market volatility, in turn, constitutes the maximum achievable …-theory consistent option price and self-insurance model. …

taken in these papers. In particular, a key component of the approach - prescription of cost components to a risk-free money … securities. It also introduces several risk-free positions (accounts) that accrue at persistently non-zero spreads with respect … to each other and the risk free rate. In the case of derivatives with counterparty default risk [Burgard and Kjaer 2013 …

The standard measures of distress risk ignore the fact that firm defaults are correlated and that some defaults are … more likely to occur in bad times. We use risk premium computed from corporate credit spreads to measure a firm’s exposure … to systematic variation in default risk. Unlike previously used measures that proxy for a firm’s physical probability of …

The standard measures of distress risk ignore the fact that firm defaults are correlated and that some defaults are … more likely to occur in bad times. We use risk premium computed from corporate credit spreads to measure a firm’s exposure … to systematic variation in default risk. Unlike previously used measures that proxy for a firm’s physical probability of …

. Collateral as a refinancing instrument. Collateral is shifting from a mere hedging instrument for counterparty risk to a … levers of Non-Cash Collateral Transformation into Cash (repo market, central bank loans, re-hypothecation of received non …