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relative risk estimates can vary from zero to infinity as the hypothesized values of key parameters of the measurement error …
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We develop a model of pandemic risk management and firm valuation. We introduce aggregate transmission shocks into an …
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We investigate the impact of information disclosed under SFAS 131 on idiosyncratic and total stock risk. For …
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We develop a model of pandemic risk management and firm valuation. We introduce aggregate transmission shocks into an …
Persistent link: https://www.econbiz.de/10012834259
The coronavirus has produced a public health debacle of the first-order. But the virus is also propagating the kind of exogenous shock that can precipitate – and to a considerable degree is already precipitating – a systemic event for our financial system. This currently unfolding systemic...
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-flow risk for investors. I find that the industry long-run cash-flow risk predicted which industries performed worst during the … pandemic. High cash-flow risk industries experienced abnormally low excess returns and substantially higher risk levels during … equity yields proliferated after mid-March 2020, which may explain the heightened relevance of cash-flow risk during the …
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