This paper investigates a corporation's risk management response to highly dynamic risks. Using a unique data set on the German terrorist insurance market, the paper tests whether corporate risk managers have a clear understanding of the probability distribution of highly dynamic risks or if...

We empirically investigate whether increases in the U.S. Securities and Exchange Commission's (SEC) budget have an effect on firms’ compliance behavior with securities market rules. Our study uses a dataset on the SEC's resources and its enforcement actions over a period beginning shortly...

Recently, early investment in the human capital of children from socially disadvantaged environments has attracted a great deal of attention. Programs of such early intervention, aimed at children’s health and well-being, are spreading considerably in the US and are currently being tested in...

Insurance today is a global economic colossus and a fixture in the developed countries of the world. Dependant upon a considerable dose of moral exhortation and enlightened appeal, the insurance industry has become a pervasive agent of social and economic control through its delineation of...

Entrepreneurship can have important positive effects linked to job creation, wealth and income generation, innovation and industry competitiveness. Scholars and policy-makers around the world have turned to the regulatory environment as a mechanism through which entrepreneurship can be...