Purpose - This study aims to examine the ability of clean energy stocks to provide cover for investors against market risks related to climate change and disturbances in the oil market. Design/methodology/approach - The study adopts the feasible quasi generalized least squares technique to...

An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure that expected (marginal) utility remains finite also...

In this paper we develop an optimization model to derive static hedge positions for hydropower producers with different risk characteristics. Previous research has primarily considered dynamic hedging; however, static hedging is the common choice among hydropower producers because of its...

The fuzzy set approach has progressively been introduced into many areas of organisational science in order to compensate for certain inadequacies in traditional tools. Indeed behaviourists and expected utility researchers have long been studying the role of ambiguity and vagueness in the human...

Purpose of the paper: Risk orientated disclosure is a focal issue of corporate communication. Many provisions have been implemented in the USA and in Europe to promote transparency about risks faced by companies, especially by quoted ones. The increase of mandatory risk reporting applying to...

Application of Enterprise Risk Management system is nowadays considered as a major source of competitive advantage. Therefore, non-financial enterprises should review their current approaches to risk management. An important role is played by international norms and standards, providing a common...

Risk management has been progressively evolving into a systemic approach for organisational decision making in today’s dynamic economic environment of the global era. In this context, risk management is reaching beyond its traditional finance and insurance application context and is entering...

Today’s business, being affected by the continuous changes in economic environment, must reinvent the “prudent risk taking” concept to strike an appropriate balance between risk, return and growth, in order to create lasting value. This paper is focused on describing the nature of risk and...

Every business organisation involves some elements of risk. Unmitigated risks can result in lost opportunity, financial losses, loss of reputation, or loss of the right to operate in a jurisdiction. Like any other risk type, understanding business risks is quite important for every business to...