Today, fierce competition drives firms in their continual efforts to introduce products with a higher degree of novelty into the market. There is a growing need to understand important activities so as to achieve product innovation. This empirical study demonstrates the effect of...

English Abstract: Armed with the copula distribution function that describes the asymmetric tail dependence, and the marginal distributions that capture the fat-tailed behavior, we estimate risk measures such as the Value-at-Risk and expected shortfall and evaluate whether those from the...