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Economic Capital for Market Risk
Ebnöther, Silvan - 2015
The interaction of capital and risk for trading and treasury units is of primary interest in the corporate governance of banks as it links operational profitability and strategic risk management. During the financial crisis, several banks' trading units suffered significantly higher losses than...
Persistent link: https://www.econbiz.de/10013019606
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Uncertainty, Capital Investment, and Risk Management
Doshi, Hitesh - 2017
We use forward-looking and exogenous measures of output price uncertainty to examine the effect of price uncertainty on … firm-level capital investment, risk management, and debt issuance. The effects of uncertainty vary significantly by firm … size. When faced with high price uncertainty, large firms increase their hedging intensity but do not lower capital …
Persistent link: https://www.econbiz.de/10012974060
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When Are Investment Projects in the Same Risk Class?
Johnstone, David - 2015
If two investments have the same payoff covariance with the market but one has higher expected payoff, which asset according to the CAPM has most risk? One answer is that as far as risk goes the two assets are the same, because they have the same covariance with the market. The correct answer,...
Persistent link: https://www.econbiz.de/10013018978
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Risk Analysis in Investment Appraisal
Savvides, Savvakis C. - 2019
This paper was prepared for the purpose of presenting the methodology and uses of the Monte Carlo simulation technique as applied in the evaluation of investment projects to analyse and assess risk. The first part of the paper highlights the importance of risk analysis in investment appraisal....
Persistent link: https://www.econbiz.de/10012706367
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Policy Uncertainty, Corporate Risk-Taking, and CEO Incentives
Ion, Mihai - 2017
Using a news-based index of aggregate policy uncertainty in the US economy, we document a strong negative relation … between policy uncertainty and corporate risk-taking. We show that high levels of policy uncertainty are associated with … uncertainty is high, CEOs sell more own-firm shares and exercise fewer options, firms are more likely to use financial hedging …
Persistent link: https://www.econbiz.de/10012947474
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Uncertainty, capital investment, and risk management
Doshi, Hitesh; Kumar, Praveen; Yerramilli, Vijay - In: Management science : journal of the Institute for … 64 (2018) 12, pp. 5769-5786
Persistent link: https://www.econbiz.de/10011964588
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The pandemic and economic policy uncertainty
Al-Thaqeb, Saud Asaad; Algharabali, Barrak Ghanim; … - In: International journal of finance & economics : IJFE 27 (2022) 3, pp. 2784-2794
Persistent link: https://www.econbiz.de/10013329827
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Leverage and uncertainty
Turlakov, Mihail - In: The journal of investment strategies 6 (2017) 4, pp. 81-97
Persistent link: https://www.econbiz.de/10011771264
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Analysis of bankruptcy threat for risk management purposes : a model approach
Wieczorek-Kosmala, Monika; Błach, Joanna; Trzęsiok, Joanna - In: International Journal of Financial Studies : open … 6 (2018) 4, pp. 1-17
In previous works, the importance of risk management implementation was addressed with regard to the problem of bankruptcy threat, with the explanation of risk impact on higher bankruptcy costs or the underinvestment problem. However, the evaluation of the impact of risk outcomes is technically...
Persistent link: https://www.econbiz.de/10011963925
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Aggregate Risk and the Choice between Cash and Lines of Credit
Acharya, Viral V. - 2012
We model corporate liquidity policy and show that aggregate risk exposure is a key determinant of how firms choose between cash and bank credit lines. Banks create liquidity for firms by pooling their idiosyncratic risks. As a result, firms with high aggregate risk find it costly to get credit...
Persistent link: https://www.econbiz.de/10013102858