We model the logarithm of the spot price of electricity with a normal inverse Gaussian (NIG) process and the wind speed and wind power production with two Ornstein-Uhlenbeck processes. In order to reproduce the correlation between the spot price and the wind power production, namely between a...

Farming is an activity which is heavily exposed to risk. Farmers have to deal daily with the change of weather, crops, and prices, resulting not only in fluctuations in income, but also in the need to incur emergency expenses. The purpose of this paper is to analyse the available catastrophic...

In this paper, a new form of weather derivative contract, namely the climatic zone-based growth degree-day (GDD) contract, is introduced. The objective is to increase the risk management efficiency in the agricultural sector of China and to reduce the model dimension of multi-regional...

Non-catastrophic weather risk is gaining importance as climate change becomes more pronounced and economic crisis forces companies to strengthen their cost control. Recent literature proposes weather derivatives as flexible weather risk mitigating tools. Only a handful of studies analysed the...

Seit Mitte der 1990er Jahre werden 'Wetterderivate' als neues Instrument zum Management wetterbedingter Mengenrisiken diskutiert. Im Gegensatz zu schadensbezogenen Versicherungen erfolgt der Hedge bei Wetterderivaten durch an Wetterindizes (Niederschlagssummen, Temperatursummen etc.) gekoppelte...

Using a sample of listed Indian manufacturing companies, this study examines the role of chief executive officer's (CEO's) personal characteristics like age, tenure, education, and career experience in the determination of investment decisions of the firm. The dynamic panel data model...

This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). The results show that lagged profitability exerts significant positive effect on contemporaneous firm...

In this paper, we study the finite sample accuracy of confidence intervals for index functional built via parametric bootstrap, in the case of inequality indices. To estimate the parameters of the assumed parametric data generating distribution, we propose a Generalized Method of Moment...

This paper contributes to the literature on determinants of the export diversification by introducing related variety (RV) and unrelated variety (UV) in the analysis in addition to the traditional entropy based measure at three-digit Standard International Trade Classification (SITC) level,...

This research examines the nexus between environmental tax, carbon emission, and female economic inclusion. The study employs a quantitative research method, utilizing the Generalized method of moments (GMM) on a dataset of 65 countries from the period 1994 to 2020. The research finds that...