We study empirically the effect of focus (specialization) versus diversification on the return and the risk of banks … loan diversification produces an inefficient risk–return trade-off only for high-risk banks. Geographical diversification …) focus and diversification using a unique data set that is able to identify individual bank loan exposures to different …

financial development has important consequences for the efficiency and specialization (or diversification) of investments, in a …

We propose that stronger creditor rights in bankruptcy reduce corporate risk-taking. Employing country-level data, we … rights companies’ operating risk is lower, and acquirers with low-recovery assets prefer targets with high-recovery assets …-cost effect. Our results suggest that there might be a "dark" side to strong creditor rights in that they can induce costly risk …

that financial development has important consequences for efficiency and specialization (or diversification) of investments …

to these scenarios affect the upside and downside risks embodied in the baseline real-time oil price forecast. Such risk …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation … within pre-specified bounds. We develop formal tools of risk management that may be used to quantify and forecast the risks … of failing to attain that objective. We illustrate the use of these risk measures in practice. First, we show how to …

Motivated by policy statements of central bankers, we propose to regard the central banker as a risk manager who aims … of risk management that may be used to quantify the risks of failing to attain that objective. Risk measures inherently … assumption of quadratic symmetric preferences, while being congruent with a risk management model. We show how the parameters of …