Risks, Volume 10, Issue 9

Affine mortality models are well suited for theoretical and practical application in pricing and risk management of mortality risk. They produce consistent, closed-form stochastic survival curves allowing for the efficient valuation of mortality-link...

Companies that are performing innovation-focused strategies or experiencing digital transformation are exposed to significant long-term risks. The untimely and inefficient management of these risks leads to the destruction of the company’s valu...

The bonus-malus system (BMS) is one of the most widely used tools in merit-rating automobile insurance, with the primary goal of ensuring that fair premiums are paid by all policyholders. The traditional BMS is dependent only on the claim frequency....

When the uni-variate risk measure analysis is generalized into the multi-variate setting, many complex theoretical and applied problems arise, and therefore the mathematical models used for risk quantification usually present model risk. As a result,...

The business environment is characterized by a high degree of uncertainty and risk. This primarily requires using resources additional to those that can be obtained from profit. The purpose of the study is to assess the impact of a risk management sy...

In recent years, modern society has faced a number of challenges related to the achievement of global goals for sustainable development. Industrial enterprises are challenged to generate, stimulate, and demand changes in networks and supply chains, b...

The activities of economic entities of the public sector in the conditions of uncertainty are associated with many risks, which manifest themselves in negative consequences, i.e., the lower effectiveness of executing assigned powers. Many subjective...

This paper aims to assess the effect of corporate governance mechanisms, including board members’ and audit committee members’ characteristics, particularly their independence, expertise in terms of finance and industry and efforts on the...

In the past years, there has been an extensive investigation of the class of stochastic volatility models for the evaluation of options and complex derivatives. These models have proven to be extremely useful in generalizing the classic Black–S...

The avenue to find a balanced assessment of systemic financial institutions needs the integration of macro and micro granular datasets. This paper investigates how macroeconomic shocks affect systemic risk through several transmission channels. Emplo...

Failure to holistically manage risk in Small Medium Enterprises (SMEs) is one of the major causes of small businesses failure. To answer the research question as to what supports the adoption of Enterprise Risk Management (ERM) in SMEs, this research...

This article develops a conceptual framework, based on a comprehensive literature review, to address illicit financial flows (IFFs), characterised by the illegal move of monies or capital across country borders. IFFs compromise transparency through c...

Estimating outstanding claims reserves in the non-life insurance business is often impaired by outlier-contaminated datasets. Widely used methods to eliminate outliers in non-life development triangles are either limiting the number of outliers by ro...

We find that the readability of financial footnotes and risk management committees contributes to audit fees. We use observations from 758 companies listed in Indonesia for 2014–2018, and moderated regression analysis is used for statistical an...

Forecasting the creditworthiness of customers is a central issue of banking activity. This task requires the analysis of large datasets with many variables, for which machine learning algorithms and feature selection techniques are a crucial tool. Mo...

This study aims to test the adaptive market hypothesis by using the myopic behavior of investors as a new proxy. The data have been taken from New York Stock Exchange from December 1994 to December 2020. Following this collection of data, the compani...

The purpose of this study is to examine whether FinTech companies believe that the growing dependence on regulation represents a potential risk for their development. In 2021, we conducted a survey among Latvian FinTech companies to ascertain their a...