respect to risk and operational characteristics such as flows, assets, and Morningstar star ratings. Panel-VAR estimations … reveal that the response of funds’ efficiency to a shock in risk is positive and substantial. Some evidence of reverse …

plus a 3x6 months Forward Rate Agreement (FRA), and that Libor was a good proxy of the risk free rate required as basic … building block of no-arbitrage pricing theory. Nowadays, in the modern financial world after the credit crunch, some Libors are … carry very important consequences in derivative’s trading and risk management, such as, for example, basis risk …

Heightened counterparty risk during the recent financial crisis has raised questions about the role clearinghouses play … in global financial stability. Empirical identification of the effect of centralized clearing on counterparty risk is … after the establishment of clearing. We also show that at least ½ of the average reduction in counterparty risk on the NYSE …

and expected returns, we show how changes to target firms’ productivity are associated with a decline in systemic risk …

processing and order imbalance costs. This most probably results from additional risk sharing capacities provided by increased …