markets. The authors find that changes in sovereign ratings have an impact on country risk and stock returns. They also find …

overarching asset and liability management strategy and integrated approach on the efficient management of foreign exchange risk …. It provides policy recommendations on ways to minimize the risk of foreign exchange mismatches and increase the return on …

Several studies have found that the cross-section of stock returns reflects a risk premium for bearing downside risk …; however, existing measures of downside risk have poor power for predicting returns. Therefore, this paper proposes a novel … measure of downside risk, the ES-implied beta, to improve the prediction of the cross-section of asset returns. The ES …

The standard measures of distress risk ignore the fact that firm defaults are correlated and that some defaults are … more likely to occur in bad times. The paper uses risk premium computed from corporate credit spreads to measure a firm …'s exposure to systematic variation in default risk. Unlike previously used measures that proxy for a firm's physical probability …

relevant for emerging markets as they integrate financially with the rest of the world. This paper argues that, because of the … globalization for local market deepening, international risk diversification, financial contagion, and financial dollarization, and …

financial intermediaries, and excessive risk taking. However, there has so far been no significant evidence that financial …

major tool in the trade policy arsenal. The paper examines these concerns in light of important ways in which the world …