In recent years, the globalization of financial asset markets has become increasingly important and has led to closer linkages among these markets. New global investment instruments such as sovereign credit default swaps, exchange traded funds, and bond markets have been created, enabling...

This article provides an update to the risk management literature as it compiles a survey of seventy recent theoretical and empirical studies on the topic. Recent empirical studies are linked to established and new theoretical evidence as it relates to firm value. Recent empirical evidence...