extrema events risk. Based on the newly proposed riskiness index by Aumann and Serrano (2008), we construct the PROFIT Index … complete order for all risk avers investors. We present a closed-form solution to the PROFIT Index, as a function of the return … stressing the asymmetric sensitivity between losses then gains. Consequently, downside risk measure such as VaR and CVaR were …

variables of firm specific risk such as liquidity ratio, credit ratio operational ratio, Index Score and macroeconomic factor … the significance level of the risk with the profits …