returns over calm and crisis periods. We find that the importance of the equity risk factor varies greatly over time and … crucially depends on country risk. In low risk countries, government bond returns are negatively related to equity returns …, regardless of market conditions. Investors appear to migrate from low risk government bonds to stocks in calm periods and in the …

The majority of risk adjusted performance measures (RAPM) currently in use – e.g., Treynor ratio, (?/?)) ratio, Omega … criteria, adapted to investment circumstances: alternative investments, return forecasts, and risk attitude. We explain the … of structured products, and explanation of the credit risk premium puzzle. …

The study examines the existence of liquidity risk premia on freight derivatives returns. The Amihud liquidity ratio … control for market risk. Results indicate that liquidity risk is priced and both liquidity measures have a significant role in … modeling freight derivatives returns, and consequently, for trading and risk management purposes. …

risk aversion who become progressively more risk averse over time. During the averaging period, API strategies reduce the …

spreads. Specifically, we look at how credit risk can be diminished when a portfolio is diversified across countries, industry … diversification is also investigated. Our results show that geographical diversification is more effective in reducing portfolio risk …, we explore the implications of our findings for credit risk capital regulation in banks. …