Digital transformation underscored by the fourth industrial revolution has led to the emergence of sophisticated technology-enabled financial services known as fintech, that has swiftly altered traditional financial services space. Global adoption of fintech is rapidly increasing due to its...

A challenge in enterprise risk measurement for diversified financial institutions is developing a coherent approach to aggregating different risk types. This has been motivated by rapid financial innovation, developments in supervisory standards (Basel 2) and recent financial turmoil. The main...

We report on the results obtained from ten annual surveys of global business executives on their perceptions of the most significant risks facing their organizations in the ensuing calendar year. These surveys of C-suite executives, directors and other risk professionals elicit their concerns...

We address the paradox that financial innovations aimed at risk-sharing appear to have made the world riskier. Financial innovations facilitate hedging idiosyncratic risks among agents; however, aggregate risks can be hedged only with liquid assets. When risk-sharing is primitive, agents...

This paper empirically evidences the role played by board characteristics (skills, diversity, structure, independence) in supporting risk management disclosure and shaping the financial performance of European companies operating in the financial services sector. We exploit data selected from...

In this study, we explore the emerging derisking phenomenon by identifying and analysing the main factors that are affected by, and the implications of, the derisking process by focusing on the key drivers and implications of derisking specific to Malta. To do this, we carried out 32 interviews...

Risk is inevitable in business. For large companies, risk management is formalised and structured through compliance with industry standards. However, small and medium-sized businesses (SMEs) rarely have adequate resources to develop their own standards or conform to pre-established criteria....

The rise of financial technology (fintech) driven business models in banking poses a challenge for financial regulators. While the positive effects on the banking sector in terms of greater diversity and competition are generally recognized and encouraged by regulators, the nature of fintech...

The paper aims to understand if and which lessons have been learned since the financial crisis of 2007-2008, highlighting the main deficiencies which still affect the corporate governance and risk management systems more than a decade after. A survey was performed by collecting the answers to 15...

The article is devoted to the theoretical substantiation and development of methodological approaches and practical recommendations for modeling the assessment of the financial stability of a service sector enterprise. To assess the financial condition of the hotel industry, a visual...