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Volume 8, September

J. Risk Financial Manag., Volume 8, Issue 4 (December 2015) – 2 articles , Pages 355-374

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Commentary
The Fundamental Equation in Tourism Finance
J. Risk Financial Manag. 2015, 8(4), 369-374; https://doi.org/10.3390/jrfm8040369 - 22 Dec 2015
Cited by 6 | Viewed by 2435
Abstract
The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the [...] Read more.
The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data. Full article
(This article belongs to the Section Tourism: Economics, Finance and Management)
Article
On a Discrete Interaction Risk Model with Delayed Claims
J. Risk Financial Manag. 2015, 8(4), 355-368; https://doi.org/10.3390/jrfm8040355 - 29 Sep 2015
Cited by 2 | Viewed by 2151
Abstract
We study a discrete-time interaction risk model with delayed claims within the framework of the compound binomial model. Using the technique of generating functions, we derive both a recursive formula and a defective renewal equation for the expected discounted penalty function. As applications, [...] Read more.
We study a discrete-time interaction risk model with delayed claims within the framework of the compound binomial model. Using the technique of generating functions, we derive both a recursive formula and a defective renewal equation for the expected discounted penalty function. As applications, the probabilities of ruin and the joint distributions of the surplus one period to ruin and the deficit at ruin are investigated. Numerical illustrations are also given. Full article
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