In modern monetary systems most money is created by commercial banks; we review how private money in the form of deposits circulates and discuss its possible tokenization. We show that a compelling case for the tokenization of bank deposits exists irrespective of the debate regarding central...

This paper examines the risk aspects of an investment-based defined contribution Social Security plan. We focus on the risk after the plan is fully phased in. Individuals deposit a fraction of wages to a Personal Retirement Account (PRA), invest these funds in a 60:40 equity-debt mix, and in a...

Objective - This study investigates the effect of investment risk, macroeconomics on stock prices in IPO companies during the COVID-19 pandemic.Methodology/Technique - Financial statements are used to collect sample secondary data. A total of 74 samples from data collection were then used to...

Shortly after the first financial crisis of globalization (2008-2009), a number of changes started to dominate the financial and banking world. Households and companies were confronted with a series of new rules and procedures aimed at protecting both the banks and the public. In most cases they...

In this paper, we propose a methodological framework for assessing the influence of climate uncertainty and technological innovation on renewable investments in small off-grid islands. At the core of the framework, an energy system model calculates the system performance in terms of Present...

The venture industry relies extensively on convertible contracts that allow VCs to convert their investments into an equity stake or a fixed debt position at a future date. We study convertible venture investments exposed to failure risk and valuation uncertainty using a double-hazard framework...

The risk conscious investor is defined as the maximizer of a conservative valuation or dynamically a nonlinear expectation. Both the static and dynamic problems are addressed using distortions of tail probabilities or distortions of tail measures. The multivariate static problem is solved in the...