Search results for " Risk management"

Exchange Rate and Inflation Risk Premia in the UME

2012

This paper tests the effects of exchange rate and inflation risk factors on asset pricing in the European Union (EU) stock markets. This investigation is motivated by the results of Vassalou (2000) [Journal of International Money and Finance, 19, 433-70] showing that both exchange rate and foreign inflation are generally priced in equity returns, and the opportunity to evaluate the causality between these sources of risk after the elimination of the EU currency risks because of the adoption of the single currency. Our results show that both exchange rate and inflation risks are significantly priced in the pre- and post-euro periods. Moreover, the size of exchange rate and inflation risk pre…

Financial Risk Management and Sustainability

2021

In the last decades, the studies that analyze the links between corporate social responsibility and financial performance in developed countries show mixed and inconclusive results, so additional research is required [...]

Adaptation to Floods in Riga, Latvia: Historical Experience and Change of Approaches

2013

The Risk Society: Towards a new modernity

2009

The present review discusses one of the pioneer projects authored by Ulrich Beck, regarding risk perception issues, which was originally titled Risikogesellshaft, Auf dem weg in eine andere Moderne or in English The society of risk, towards a new modernity. This review is part of a broader project related to a Social Psychology doctoral thesis on fears of travelling in urban circumstances.

Unveiling Barriers and Enablers of Risk Management in Interoperability Efforts

2014

eGovernment efforts are, as general IS efforts, associated with considerable risk. As eGovernment matures and interoperability becomes more ingrained in eGovernment efforts, it will be interesting to explore how the increased complexity affects risk. Still, research on risk management in the context of eGovernment is sparse and our understanding of the phenomenon equally so. This qualitative study investigates risk management in the Norwegian public sector. Based on 11 interviews with experts from nine public organizations, we identified six barriers and eight enablers to risk management in eGovernment settings. Our findings suggest that interoperability has important implications for how r…

The CFO’s Information Challenge in Managing Macroeconomic Risk

2010

In this paper we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management requires a broad approach encompassing financial, operational and strategic considerations. Furthermore, several interdependent sources of risk in the macroeconomic environment must be taken into account. Once this interdependence among, for example, exchange rates, interest rates and inflation are taken into account macroeconomic risk management can be considered a relatively self-contained aspect of Inte…

Analisi dei rapporti tra finanza innovativa e distretti high-tech: il contributo delle banche locali nei distretti italiani

2011

Questo lavoro di ricerca si inserisce nell’ambito delle ricerche sui sistemi regionali di innovazione1 contrassegnati principalmente da due elementi: la dimensione sistemica dell’innovazione e la concentrazione di attività innovative su base territoriale. In particolare obiettivo principale di questo contributo è quello di approfondire il ruolo che la finanza innovativa può esercitare nei distretti tecnologici. Nel trattate questa tematica è stato seguito un percorso che può essere scomposto sostanzialmente in due parti. Nella prima parte è stata esposta una rassegna dei più recenti contributi sia italiani che stranieri con particolare riferimento ai due principali aspetti caratterizzanti u…

L’actionnariat des salariés influencet-il la rémunération des dirigeants ?

2017

International audience; Cet article étudie la relation entre les composantes variables de la rémunération en actions de l’entreprise des dirigeants et des actionnaires salariés. En utilisant un échantillon de données issu du SBF 120 sur la période 2004-2009, nous étudions en particulier : (i) la relation entre le montant des stock-options attribuées aux dirigeants et l’actionnariat salarié ; (ii) la relation entre le rapport du montant des stock-options sur la rémunération totale des dirigeants et l’actionnariat salarié. La relation est significativement négative dans les deux cas montrant que l’actionnariat salarié tend à limiter la composante stok-options de la rémunération des dirigeants…

L’actionnariat des salariés influence-t-il la rémunération des dirigeants ?

2017

International audience; Cet article étudie la relation entre les composantes variables de la rémunération en actions de l’entreprise des dirigeants et des actionnaires salariés. En utilisant un échantillon de données issu du SBF 120 sur la période 2004-2009, nous étudions en particulier : (i) la relation entre le montant des stock-options attribuées aux dirigeants et l’actionnariat salarié ; (ii) la relation entre le rapport du montant des stock-options sur la rémunération totale des dirigeants et l’actionnariat salarié. La relation est significativement négative dans les deux cas montrant que l’actionnariat salarié tend à limiter la composante stok-options de la rémunération des dirigeants…

On the Returns to Invention within Firms: Evidence from Finland

2018

International audience; In this paper we merge individual income data, firm-level data, patenting data, and IQ data in Finland over the period 1988–2012 to analyze the returns to invention for inventors and their coworkers or stakeholders within the same firm. We find that: (i) inventors collect only 8 percent of the total private return from invention; (ii) entrepreneurs get over 44 percent of the total gains; (iii) bluecollar workers get about 26 percent of the gains and the rest goes to white-collar workers. Moreover, entrepreneurs start with significant negative returns prior to the patent application, but their returns subsequently become highly positive.