Firms scheduled to report earnings earn an annualized abnormal return of 9.9%. We propose a risk-based explanation for … announcement risk is priced …

extrema events risk. Based on the newly proposed riskiness index by Aumann and Serrano (2008), we construct the PROFIT Index … complete order for all risk avers investors. We present a closed-form solution to the PROFIT Index, as a function of the return … stressing the asymmetric sensitivity between losses then gains. Consequently, downside risk measure such as VaR and CVaR were …

’s investments. As a result, aggregated risk statements provide market information about new and evolving risks over and above the … insights to be gleaned from any single risk disclosure. But disclosures’ utility comes not from their superior ability to …’ perception of market risks in the aggregate. We evaluate our thesis through an analysis of all U.S. mutual funds’ narrative risk …

concluded that climate risk was investment risk. It warned of a very rapid movement of capital toward “sustainable” businesses … investors’ ability to manage risk, and can inform broader public policy. Sustainability reporting also serves an internal …

whether and why complexity is used as a proxy for risk when evaluating derivatives. We conduct three laboratory experiments to … show a robust effect consistent with investors and managers taking complexity as a proxy for risk and deeming more complex …, but equally risky, derivatives as worse for risk minimization. We also provide evidence that the effect is driven by …