care for this risk and renounce to a part of the expected excess return - favouring current borrowing. The main …

6-factors APT model, in which an additional risk factor for foreign portfolio capital flows was included. First, in an … activity, level of risk and level of corporate governance, foreign portfolio capitals caused increases in returns especially … for sectors related to commodities, industry and cyclical consumption. For the portfolios sorted by risk (in which the …

We conduct an international analysis of the cross-sectional risk premiums of uncertainty risk factors in addition to … traditional risk factors. We consider the stock markets in five regions separately. Internationally, uncertainty has negative risk … uncertainty betas. We further contribute with an analysis of downside uncertainty risk. Here, the downside uncertainty risk factor …

administrators and portfolio managers can defend themselves against exchange risk by using forward contracts, particularly in world …The paper examines the effect of exchange rate risk on the conditional relationship between beta risk and return in … against exchange rate risk. However, when this risk is controlled and hedged with forward contracts, theconditional …

-off between the benefits of keeping reserves as a buffer against rollover risk and the cost of having larger gross debt positions …

reserves to hedge against rollover risk. We study a dynamic model of endogenous default in which the government faces a …