Journal of Risk Finance: Volume 18 Issue 3

Enterprise risk management: a capability-based perspective

Yevgen Bogodistov, Veit Wohlgemuth

The purpose of this study is to enhance the existing enterprise risk-management (ERM) theory by introducing both a resource-based view and a dynamic capability perspective. These…

Systemic operational risk: Spillover effects of large operational losses in the European banking industry

Thomas Kaspereit, Kerstin Lopatta, Suren Pakhchanyan, Jörg Prokop

The aim of this paper is to study the information content of operational loss events occurring at European financial institutions with respect to the announcing bank’s industry…

Estimates and inferences in accounting panel data sets: comparing approaches

Felix Canitz, Panagiotis Ballis-Papanastasiou, Christian Fieberg, Kerstin Lopatta, Armin Varmaz, Thomas Walker

The purpose of this paper is to review and evaluate the methods commonly used in accounting literature to correct for cointegrated data and data that are neither stationary nor…

Concentration and financial stability in the property-liability insurance sector: global evidence

Muhammed Altuntas, Jannes Rauch

This paper aims to examine the effect of concentration in the insurance sector on insurer stability for a large set of developed and developing countries. In particular, the…

Asset risk and leverage under information asymmetry

Pascal Nguyen

The purpose of this paper is to investigate whether higher asset risk can be associated with higher leverage and to provide a rationale for the relatively low debt ratios…

Markov regenerative credit rating model

Puneet Pasricha, Dharmaraja Selvamuthu, Viswanathan Arunachalam

Credit ratings serve as an important input in several applications in risk management of the financial firms. The level of credit rating changes from time to time because of…

Macroprudential measures in the housing markets – a note on the empirical literature

Essi Eerola

The global financial crisis has led to increased attention on the relationship of household indebtedness and systemic risks. As a result, macroprudential measures aimed at…