directly to the consumer. Knowledge of diversity and specificity of their risk and individualization of possible areas requires …

financial risk based on asset classes only is ready for a epistemological change. Currently, the definition of financial risk … suffers from three major deficiencies: (1) financial risk is insufficiently measured by the conventional second - order … moments; (2) financial risk is assumed to be stable and all distribution moments are assumed to be time-invariant; and (3 …

positive or risk-premium effect exists between return and the volatile component, yet the persistent component is not …

This paper deals with the issue of calculating daily Value-at-Risk (VaR) measures within an environment of thin trading … issue for financial risk management in emerging markets. …

excess returns compensate U.S. investors for taking on aggregate risk by shorting the dollar in bad times, when the U ….S. price of risk is high. The countercyclical variation in risk premia leads to strong return predictability: the average …-year horizon. The estimated model implies that the variation in the exposure of U.S. investors to worldwide risk is the key driver …

countries, after adjusting for risk there is little support for catering theory even among firms incorporated in common law …We study the determinants of dividend payout policy and examine the role of liquidity, risk and catering in explaining … the changes in propensity to pay. Our results indicate that risk plays a major role in firms’ dividend policy. The …

, but also on financial agents’ attitude towards risk. The pro-cyclical nature of the latter has a major impact on financial …

both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used …

relationship between portfolio beta-risk and return in the Argentinean, Brazilian, Chilean, and Mexican stock markets. We develop …