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The supervisory stress test evaluates the capital adequacy and profit-generation capacity of systemic banking institutions under baseline and adverse macroeconomic scenarios. This study aims to assess the financial and informational role of European stress tests and substantiate the impact of their disclosures by examining the EU-wide 2018 stress test vis-à-vis the EU-wide 2021 stress test in terms of how and to what extent the stock prices of the stress-tested banks have been affected.

This study applies standard event study methodologies to evaluate the reactions of market participants during the EU-wide 2018 and 2021 stress test exercises. We examine several “large” events in both the exercises for a selected sample of European banks.

The results of our event study analysis show that the EU-wide 2018 and 2021 stress tests come subsequent to considerable abnormal price movements. The announcement of stress test results triggered tangible investor reactions, indicating the informational value of stress tests in reducing bank opacity. This supervisory “toolkit” is considered extremely important, as it provides meaningful insights to the supervisors of the banking institutions and the market stakeholders by improving the transparency of the financial sector, allowing them to segregate banks more effectively.

This study constitutes one of the earliest attempts to shed light on the financial and information role of the European supervisory stress tests by comparing the EU-wide 2018 and the EU-wide 2021 stress test exercises. Moreover, it provides concrete empirical evidence and qualitative analysis to explore certain aspects of the European and US stress tests.

The European Union (EU) energy supply environment is changing significantly and in a dynamic way, establishing the issue of safe energy imports as main priority. Greece relies heavily on energy imports. Furthermore, Greece aims to be elevated into an energy cross road for the energy supply to the EU. In this respect, the aim of this paper is the investigation of the suitability of graph theory concepts on energy supply networks and its application to represent energy corridors to Greece.

Supporting frameworks to represent and assess the vulnerability of the corridors satisfying the Greek demand in oil and gas are considered a crucial issue and are presented in this paper, based on the graph theory approach. In addition, a pilot application of the shortest path algorithm and the maximum flow at minimum risk algorithm for the oil and gas corridors to Greece is presented and discussed.

This paper introduces the application of graph theory to energy policy analysis. Indeed, the pilot application in oil and gas supply corridors to Greece, although quite simplified, has indicated the applicability of graph theory concepts in such problems and is considered a step forward of the existing studies, supporting the design efforts towards the development of a more reliable energy supply system.

To the best of the authors' knowledge, graph theory's application to energy corridors is not available in the international literature. In this respect, the added value of the paper is the provision of a sufficient decision support framework for the representation and assessment of the energy corridors' risk of energy availability, through the application of graph theory.

Greece is a net importer of oil and gas and is among the most vulnerable countries of the European Union (EU) on energy supply disruptions. Furthermore, is considered a “crossroad” of existing and forthcoming infrastructure for importing energy to the EU. The purpose of this paper is the presentation of the web tool that implements the developed methodology for the quantification of socio‐economic risks of oil and gas corridors. The tool is applied to the main present and future oil and gas corridors to Greece, and the related outcomes are discussed.

A structured and coherent review on the future and present oil and natural gas (NG) corridors to Greece was elaborated, based on desk analysis and collection of the related data from national and international sources. Factor analysis was employed for the quantification of socio‐economic risks of each energy corridor. Particular emphasis was laid on the tool's design, so as to be user‐friendly, combining intuitive menus and navigation throughout the steps of the system.

The calculation of socio‐economic risks of the main oil and gas corridors to Greece provides operative and measurable concepts for supporting energy‐modelling processes. Indeed, this paper provides useful insights on the factors affecting the smooth energy supply and the reliability of oil and gas supply options to the Greek energy system. Moreover, the presented web tool can be used as a reference point for the researcher working on energy supply risks quantification.

The introduction of the energy corridors perspective in the valuation of supply security is of significant importance, taking into account the constantly increasing energy dependence of EU countries. To the best of the authors' knowledge, a structured and coherent review of the future and present oil and NG corridors to Greece is not present in the international literature. In addition to this, the development of the web tool is a clear contribution towards the quantification of the economic and socio‐political risk analysis and a step forward of the existing studies.

Evaluation of energy and climate policy interactions is a complex issue, whereas stakeholders' preferences incorporation has not been addressed systematically. The purpose of this paper is to present an integrated weighting methodology that has been developed in order to incorporate weighting preferences into an ex ante evaluation of climate and energy policy interactions.

A multi‐criteria analysis (MCA) weighting methodology which combines pair‐wise comparisons and ratio importance weighting methods has been elaborated. It initially introduces the users to the evaluation process through a warming up holistic approach for an initial rank of the criteria and then facilitates them to express their ratio relative importance in pair‐wise comparisons of criteria by providing them an interactive mean with verbal, numerical and visual representation of their preferences. Moreover, it provides a ranking consistency test where users can see the degree of (in)consistency of their preferences.

Stakeholders and experts in the energy policy field who tested the methodology stated their approval and satisfaction for the combination of both ranking and pair‐wise comparison techniques, since it allows the gradual approach to the evaluation problem. In addition, main difficulties in MCA weights elicitation processes were overcome.

The methodology is tested by a small sample of stakeholders, whereas a larger sample, a broader range of stakeholders and applications on different climate policy evaluation cases merit further research.

The novel aspect of the developed methodology consists of the combination of ranking and pair‐wise comparison techniques for the elicitation of stakeholders' preferences.