This study explores cabin safety by mapping it as the second-order factor into a theoretical framework based on the 5-M model. A questionnaire, together with structural equation modeling is used to verify the proposed model. The results suggest that cabin safety can be measured by a systemic...

This paper evaluates the model risk of models used for forecasting systemic and market risk. Model risk, which is the potential for different models to provide inconsistent outcomes, is shown to be increasing with and caused by market uncertainty. During calm periods, the underlying risk...

At the beginning of the XXI century, human societies are entering a period of "late modernity" characterized by new forms of trust and risk, untransparent social situations and economic, political and cultural globalization. These processes are associated with the presence of abstract systems...

In the construction industry, risk assessment and evaluation of actors vary by their size, market position and their roles in the production process. Actors detect exogenous and endogenous processes differently; dissimilarities can be found in the observation, response, speed, in the forethought...

The global financial crisis has had far-reaching effects on financial systems and economies all over the world, thus putting the importance of safeguarding financial stability in the focus of interest of the global economy. This paper presents the importance of safeguarding financial stability...

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...

Reviews the book 'Financial Analysis and Corporate Strategy,' by Mark Grinblatt and Sheridan Titman.

We propose a general framework to study the stability of the subspace spanned by P consecutive eigenvectors of a generic symmetric matrix H0 when a small perturbation is added. This problem is relevant in various contexts, including quantum dissipation (H0 is then the Hamiltonian) and financial...

The reaction of EU bond and equity market volatilities to sovereign rating announcements (Standard & Poor’s, Moody’s, and Fitch) is investigated using a panel of daily stock market and sovereign bond returns. The parametric volatilities are defined using EGARCH specifications. The estimation...