Product price risk is a potentially important factor for firms' liquidity management. A natural place to evaluate the impact of this risk on liquidity management is the electricity industry, since producing firms face substantial price volatility in wholesale markets. Empirically, higher...

Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...

This study examines the effects of environmental, social, and governance (ESG) performance on bond volatility. After controlling for bond characteristics and firm fundamentals, we find a robust positive relationship between ESG performance and bond volatility. The empirical results demonstrate...

Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...

Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...