property characteristics, and weather. We find a significant increase in mortgage delinquency and foreclosure after a fire, but … these effects decrease in the size of the fire,which we argue results from coordination externalities afforded by large … companiesto absorb fire-related losses. This paper provides central banks and insurance regulators witha framework for evaluating …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry …

firms and concludes that both the size and book-to-market effects are related to default risk. For example, small firms earn … higher return than big firms only if they have higher default risk and value stocks earn higher returns than growth stocks if … their default risk is high. In this paper we use a more advanced compound option pricing model for the computation of …

risk management …