the stochastic order typically used in the univariate case. These utility functions are multivariate risk averse, and … risk seeking. We provide insight into these two contrasting forms of stochastic dominance, develop some criteria to compare …

on the common pricing process of Greek stocks and bonds, through the correlation of their returns. We derive dynamic … conditional correlations of Greek stock and government bond returns, covering the period 1999-2009. We find that the dynamics of … the Greek stock-bond correlation are explained by several risk factors, related to liquidity and market’s uncertainty …

regression tests fail to account for time varying risk premia that are correlated with the spread, causing a downward bias in the … varying risk premia. …

risk, even if they face no threat of liquidation if they do default. The model generates predictions which explain two …

This paper examines the persistence of the volatility of the risk premia for excess holding period returns of the term …

insurance provision. Risk-tolerant individuals take few precautions and are disinclined to insure, but are drawn into a pooling … equilibrium by the low premiums created by the presence of safer, more risk-averse types. Taxing insurance drives out the reckless …

paper extends the q-theory to include the possibility that costs associated with the risk of insolvency affect the firm … evidence that aggregate investment is influenced by the risk of insolvency. …