veröffentlichten Fachartikeln. Durch die gegenwärtig öffentlich geführte Diskussion zum Thema Klimawandel stehen europäische … Anpassungsstrategien an den Klimawandel'. …

Modeling the price risk of CO2 certificates is one important aspect of integral corporate risk management related to … emissions trading. The paper presents a risk model which may be the basis for evaluating the risk of emission certificate prices …

is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from … loss account accounting for uncertainties and dependencies. Consequently, this model provides a basis for risk assessment …

analyze the effect of risk aversion, ambiguity aversion and the elasticity of intertemporal substitution on the willingness to … pay to avoid climate change risk. The first part of the paper analyzes a general disaster (jump) risk model with a … constant arrival rate of disasters. This provides useful intuition in how preferences influence valuation of long-term risk …

It is often argued that Black-Scholes (1973) values overstate the subjective value of stock options granted to risk … coefficients of relative risk aversion, the discount can be above 50% compared to the Black-Scholes values. Regression analysis … that cross-sectional differences in the amount of executive pay vanish when risk-adjusted values are used as the dependent …

We study whether the credit default swap (CDS) spreads of firms reflect the risk from climate transition. We first … construct a climate transition risk (CTR) factor by using information on the vulnerability of a firm's value to the transition …, we find that these policies have asymmetric and significant economic impacts on the credit risk of more vulnerable firms …

distribution of emission intensity. These results suggest that investors care about and price carbon risk, but only when this risk …