Research suggesting the existence of the accrual anomaly runs into the issue that risk serves as a competing … explanation for abnormal returns. This paper proposes a novel approach to distinguish between risk and anomaly explanations for … the negative association between accruals and returns. The intuition is that high risk stocks should experience relatively …

We develop a measure of how information events impact investors' expectations of risk. The measure is broadly … simultaneously conveys information on the announcer's expected future cash flows and risk profile. We empirically implement the … forecasting power for firms' risk profiles, costs of capital, and future investments. We further highlight pitfalls of using …

are increasingly concerned about the reputational risk of tax planning. Using RepRisk data to capture firms’ reputational … risk due to public scrutiny, this study examines the relationship between reputational risk and corporate tax planning. If … managers anticipate higher costs of tax planning in response to higher reputational risk, firms might adjust their tax behavior …

We test whether tax avoidance strategies are associated with greater firm risk. We find that low tax rates tend to be … associated with either future tax rate volatility or future overall firm risk. Our evidence suggests that, on average, corporate … tax avoidance is accomplished using strategies that are persistent and do not increase firm risk. We also find that the …

significantly positively associated with future realized stock returns and also significantly correlates with commonly used risk …

Using new textual analysis techniques to extract a broad set of disclosed risk factors from firms' SEC filings, I … between firms' risk disclosures and their stock return volatilities and factor loadings. Finally, I form risk disclosure … portfolios and perform a style analysis to examine the disclosed risks associated with commonly used asset pricing risk factors …

’s purpose is to develop a rapid methodology to assess the risk of information and knowledge loss management. It provides the … implementation of eight steps and combines a risk mapping method modified by assessments based on risk factors and incidents as … elements from set theory and using formalization via binary estimates. The methodology includes five significant events caused …

risk measures for portfolios with infrequently traded securities have not been explored in the literature. We propose a … methodology to calculate market risk measures based on the Kalman filter which can be used on incomplete datasets. We implement … applied to other markets with thinly traded securities. Our methodology provides reliable market risk measures in portfolios …

risk measures for portfolios with infrequently traded securities have not been explored in the literature. We propose a … methodology to calculate market risk measures based on the Kalman filter which can be used on incomplete datasets. We implement … applied to other markets with thinly traded securities. Our methodology provides reliable market risk measures in portfolios …

whether and why complexity is used as a proxy for risk when evaluating derivatives. We conduct three laboratory experiments to … show a robust effect consistent with investors and managers taking complexity as a proxy for risk and deeming more complex …, but equally risky, derivatives as worse for risk minimization. We also provide evidence that the effect is driven by …