In this paper we explore the role of the temporary and country-specific Additional Credit Claims (ACC) frameworks as a monetary policy implementation tool. We discuss their evolution and provide a novel and detailed description of all ACC measures adopted by the different euro area NCBs since...

Shocks to a bank's ability to raise liquidity at short notice can trigger depositor panics. Why don't banks take a more active role in managing these risks? We study contingent risk management (hedging) in a standard global-games model of a bank run. Banks fail to hedge precisely when the...

The escalation of climate-induced disasters underscores how climatic variability has become a main question in designing risk-sensitive policies in advanced and developing countries. The macroeconomic implications of Natural Hazards (NHs) are extremely significant, as they can compromise...

This study replicates the work of Bucheli et al. (2022) to evaluate the reliability and generalizability of their findings on the use of cubic spline methods in weather index insurance design in Eastern Germany. The study consists of two parts: a direct replication and an extended replication...

Traditional supply chain planning (SCP) processes are generally effective in stable business environments where demand and supply are predictable and reliable. However, firms are no longer operating within static systems. Instead, they are embedded in dynamic and complex supply chains that...

Chapter 1: Introduction -- Part I: Corporate Financial Decisions -- Chapter 2: Risk Management -- Chapter 3: Cash Holdings -- Chapter 4: ESG in Corporate Finance -- Chapter 4: Behavioural Corporate Finance -- Chapter 5: Corporate Finance in the Age of Fintech -- Part II: Capital Operations --...

Purpose The purpose of this paper is to present the method for efficient computation of risk measures using Fourier transform technique. Another objective is to demonstrate that this technique enables an efficient computation of risk measures beyond value-at-risk and expected shortfall. Finally,...

Purpose The aim of this paper is to study the information content of operational loss events occurring at European financial institutions with respect to the announcing bank’s industry rivals from an equity investor’s perspective. Design/methodology/approach The authors conduct an event...

Purpose The purpose of this paper is to study the value effects of hedging in the airline industry during a period of high volatility and high fuel costs. The authors also study the determinants of hedging in the airline industry, most importantly whether managerial ownership affects airlines’...

Purpose Currently, few academics agree on a standard and scientific way to measure risk tolerance. This paper aims to create a unique model for empirically measuring risk tolerance and to make a strong contribution to the growing literature in risk tolerance and risk management....