This research studies the market value impact of operational risk events on both announcing and non-announcing firms in the U.S. Financial sectors and provides models to quantify operational risk. I begin by conducting an event study analysis of the impact of operational loss events on the...

This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most...

This paper presents an event study analysis of the market value impact of operational risk events on non-announcing firms in the U.S. banking and insurance industries. We seek evidence of positive or negative intra or inter-sector spillover effects on stock prices in the commercial banking,...

This paper conducts an event study analysis of the impact of operational risk events on the market values of banks and insurance companies, using the OpVar database. We focus on financial institutions because of the increased market and regulatory scrutiny of operational losses in these...

This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most...

The <i>in situ</i> effects of planning and policy often go unnoticed, but their impacts are broad ranging, influencing the social, cultural, economic, and environmental fabric of a community every day. Challenges to planning and policy processes include an enormous range of uncertainties, obfuscating...

This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most...