asymmetric behavior toward the upside potential of gain versus the downside risk of loss. Using an asymmetric split normal …-default-model-implied) spread to two illiquidity risk factors. The first factor is extracted from several measures of idiosyncratic illiquidity …

contributions in insurance economics since that time. The review begins with the role of utility, risk, and risk aversion in the …

://ssrn.com/abstract=2198583The study of risk management began after World War II. Risk management has long been associated with the use of market … insurance to protect individuals and companies from various losses associated with accidents. Other forms of risk management … protection against pure risk. The use of derivatives as risk management instruments arose during the 1970s, and expanded rapidly …

the optimal form of retention must be proportional to the pool default loss even in the absence of systemic risk when the …

The new NYSE rules for corporate governance require the audit committee to discuss and review the firm's risk …, our measure of risk management is found to be an increasing function of the percentage of directors holding a diploma …

This paper tests the effects of the independence and financial knowledge of directors on risk management and firm value …, and financial experience allows us to test the effect of each dimension of financial knowledge on risk management activities …. We show that directors' financial knowledge increases firm value through the risk management channel. This effect is …