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This research study aims to design a novel risk-managed time-series momentum approach. The present study also examines the time-series momentum effect in the Indian equity market. Apart from this, the study also proposes a novel risk-managed time-series momentum approach.

The study considers the adjusted monthly closing prices of the stocks listed on the Bombay Stock Exchange from January 1996 to December 2020 to formulate long-short portfolios. Newey–West t statistics were used to test the significance of momentum returns. The present research has considered standard risk factors, i.e. market, size and value, to evaluate the risk-adjusted performance of time-series momentum portfolios.

The present research reports a substantial absolute momentum effect in the Indian equity market. However, absolute momentum strategies are exposed to occasional severe losses. The proposed time-series momentum approach not only yields 2.5 times higher return than the standard time-series momentum approach but also causes substantial enhancement in downside risks and higher-order moments.

The study's outcomes offer valuable insights for professional investors, capital market regulators and asset management companies.

This study is one of the pioneers attempting to test the time-series momentum effect in emerging economies. Besides, current research contributes to the escalating literature on risk-managed momentum by suggesting a novel revised time-series momentum approach.

The aim of this research is to evaluate the vulnerability of earthen heritage when facing climate change, by focusing on Tchogha Zanbil site as a case study – an outstanding example of an earthen site that recurrently faces extreme climatic events. Moreover, the adaptive capacity of traditional knowledge and ancient systems is also evaluated, in order to contribute for future climate change adaptation planning.

The vulnerability of cultural heritage to climate change was considered as the degree to which an identified cultural heritage value was susceptible to, or would be adversely affected by, the effects of climate change, including climate variability and extreme temperatures. In order to establish a vulnerability assessment, this paper will assess different definitions regarding vulnerability, exposure and sensitivity, crossing it with indicators of physical parameters, in order to propose an adaptive capacity for the site, based on ancient traditional knowledge.

Nonetheless, the entailed research helped establish a framework that contributes to outline the vulnerability and the potential for adaptive capacity of World Heritage properties, especially earthen sites located in regions exposed to rising climate change impact.

The research faced some limitations regarding access to data and to site visits, due to COVID-19 restrictions that were in place.

This research presents a methodological assessment of climate change risk in Tchogha Zanbil, a World Heritage earthen site in Iran, representative of a property highly exposed to risk and vulnerability.