This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate …

liquidity risk, credit risk (financial and sovereign), and interest rate expectations. Our results suggest that liquidity risk … is the main determinant of the volatility of the policy spread, but also that private bank credit risk has become more … fears. In addition, the ECB appears to have been more effective in addressing liquidity risk since the onset of the crisis …

even if the risk-free asset return is correlated with other risky assets' returns. However, equivalence fails to hold on an …

potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to … explore the design of policy. The model highlights the critical roles played by (i) the relationship between behavioural risk … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …

, the usual asymmetry in evaluation by sellers and buyers is observed. An econometric estimation sheds new light on its …

Banks play a critical role in international trade by providing trade finance products that reduce the risk of exporting …