To investigate the macroeconomic effects of capital account liberalization, we apply a dynamic general equilibrium model with two production sectors. In contrast to the literature on belief-driven sunspot fluctuations caused by production externalities, our model does not assume any production...

Chapter 1. Introduction -- Part 1. Debating ESG Financial Topics -- Chapter 2. Sustainability literature orientation: Evidence from finance academic research -- Chapter 3. First assessment of EU Taxonomy regulation for Italian banks -- Chapter 4. Sustainable finance: A Quest for Value from ICO...

In the context of capital allocation principles for (not necessarily coherent) risk measures, we derive - under mild conditions - some representation results as ``collapse to the mean'' in a generalized sense. This approach is related to the well-known Gradient allocation and allows to extend a...

A well-established view that exists is that firms in a developed financial market take advantage of market valuations when making financial decisions. Whether firms in developing financial markets follow a similar behavior is not clear. Therefore, this research extends the prior literature by...