We propose and backtest a multivariate Value-at-Risk model for financial returns based on Tukey's g-and-h distribution …-and-h distributed residuals to three European stock indices and provide results of out-of-sample Value-at-Risk backtests. We find that …

nonelectronics subindex (NFNE) futures for cross hedging the price risk of stock sector indices traded on the Taiwan stock exchange … hedging strategy using only the NFNE futures. This shows the importance of hedging the global equity systematic risk of stock …

The paper demonstrates the allocation of risk in Islamic banking and shows that in Islamic banking as risks are carried … financial system more stable. Paper also demonstrates that such allocation of risk makes both firms more likely to take credit …

differences between conventional and Islamic finance. Depositors/savers do not bear any risk in conventional finance however …