The banking industry is the engine of economic activities of the modern day financial systems. As such, banks play a very significant part in supporting economic growth through the efficient allocation of resources and risk diversification in an environment of optimal interest rate spread....

With global climate change, the extreme flood disasters which are characterized with low frequency but huge economic losses occur more frequently. The management of the extreme flood disasters mainly depends on the administrative means of the governments at all levels in China. When the extreme...

The stock exchange markets are characterized by high dynamics of the investment activity, mainly portfolio investments. The existing relation between yield and risk, on one side, and the portfolio diversification, on the other side, are two basic aspects allowing the investors to build up a...

Using unique data on mutual fund portfolios with different investment scopes, we study the extent of international diversification. Mutual funds invest in a surprisingly limited number of stocks—about 100. The number of holdings from a given region declines as the investment scope broadens....