We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in … corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays … intuitive relations with quantitative measures of cybersecurity risk disclosure language, exhibits a positive trend over time …

empirically show two main findings: first, risk-taking is positively related to the length of tax loss periods because the loss … rules shift some risk to the government; and second, the tax rate has a positive effect on risk-taking for firms that expect …

. The pandemic risk cannot be mutualized since it affects simultaneously a large number of businesses, and furthermore, it … risk coverage mechanisms based on a portfolio of financial securities, including long-short positions and options in stock … conclusions are derived from a theoretical model of corporate risk management, and they are illustrated by numerical simulations …

. Our results indicate that institutional investors actively monitor underlying asset risk, and even gain an informational …

We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making … risk sharing: we find that countries with the most highly developed markets for securitized mortgage debt have consumption … risk sharing in tranquil times but that it actually fails to provide international insurance in severe crisis periods …

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs … resulting from an increased risk exposure. We find that when the shock distribution displays "fat" tails, extreme segmentation …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

The risk of recurrent outbreaks following the main waves of a pandemic has been acknowledged. We provide evidence of … the scale and duration of this outbreak risk. We compile municipal public health records and use national data to model … eight major UK cities, we find elevated mortality risk that persists for nearly two decades. The generality of the findings …

approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the … risk. We conclude by proposing several promising directions for future research in climate finance. …