Purpose – The purpose of this study is to examine the relationship between regulation of non‐bank financial institutions and their risk‐taking behaviours in Ghana. Design/methodology/approach – The analysis is performed using data derived from the Bank of Ghana Database during a...

Purpose – This paper aims to examine the relationship between the volume of investment deposits and capitalization of Islamic commercial banks. Design/methodology/approach – Unlike current accounts holders, investment accounts holders may support part or all of the losses on assets value,...

This paper analyzes international portfolio selection with exchange rate risk based on behavioural portfolio theory (BPT). We characterize the conditions under which the BPT problem with a single foreign market has an optimal solution, and show that the optimal portfolio contains the traditional...

Financial well-being is distinct from income. Some people with high incomes suffer low financial well-being, as their incomes fall short of their aspirations. Such people feel propelled to reach their aspirations by taking risk and willing to bear losses. Conversely, some people with low incomes...

This paper estimates relative risk aversion using the observed shares of risky assets and characteristics of households from the Household Finance and Consumption Survey of the European Central Bank. Given that the risky share is a fractional response variable belonging to [0, 1], this paper...