The existence of country-specific risk factors that could be mitigated by international investments is investigated. An innovative methodology for quantifying the benefits of international diversification is also proposed and tested. In order to overcome many of the problems that arise in the...

As the international financial and economic context evolves and becomes increasingly globalized, the capital budgeting for multinational companies faces new challenges and needs more refined models and tools of analysis. Indeed, capital budgeting for foreign direct investments carries...

We analyse the effectiveness of catastrophe bonds for the financial management of catastrophic risk in the transport and infrastructure industries. We illustrate how these financial instruments are becoming a valuable tool for non-financial firms in the risk management of catastrophic events,...