Journal of Risk Finance: Volume 9 Issue 1

The nature of randomness: Part 1 – Knowable or unknowable?

Michael R. Powers

In this two‐part series, this paper seeks to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown…

EU Banking Directives: risk and wealth effects on the Greek financial sector

Themis D. Pantos

The paper seeks to examine whether or not wealth effects and changes in the systematic risk associated with the return structure of the Greek commercial chartered banks…

Corporate hedging and risk management theory: evidence from Polish listed companies

Karol Marek Klimczak

This paper aims to provide a comprehensive empirical assessment of major contemporary corporate hedging theories, i.e. financial theory, agency theory, stakeholder theory and new…

Development in Islamic banking: a financial risk‐allocation approach

M. Mansoor Khan, M. Ishaq Bhatti

The core objective of this paper is to direct worldwide attention towards the unparalleled development in Islamic banking, its infrastructures and supporting institutions in…

Effect of exchange‐rate volatility on foreign direct investment in Sub‐Saharan Africa: The case of Ghana

Anthony Kyereboah‐Coleman, Kwame F. Agyire‐Tettey

The present study aims at using a broader data set and longer time frame coupled with a relatively rigorous and robust methodology to examine the effect of real exchange rate…

Risk minimization under budget constraints

Kiseop Lee

The purpose of this paper is to find the optimal hedging strategy when an investor has budget constraints on both the initial capital and the future cash flow.

Alternative measures to value at risk

Colin J. Thompson, Michael A. McCarthy

The purpose of this article is to introduce a new method of estimating risk as an alternative to value at risk (VaR), drawing on the risk assessment literature in environmental…

Derivative processing counts: the cost of bad data

Michael Mainelli

Retail is in the detail: how banks need to re-energize retail franchises

Chris Gentle