long and frequently reach across several countries. The risk that securities are lost or the return to their owners delayed …-custodian reduce the country risk in sub-custodian structures. When we analyse the choice of a CSD as first sub-custodian, we find that …

Finance theory does not provide a comprehensive framework for explaining risk management within the imperfect financial … environment in which firms operate. Corporate managers, however, rank risk management as one of their most important objectives … literature and analyses the implications for risk management practice. It is distinguished between two competing approaches to …

's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It … and explore how they are affected by domestic and global risk. We apply this framework to ten OECD economies, showing the … Kingdom, show that a substantial degree of international risk sharing can occur through current accounts and international …