October 2025 - 24 articles
Maximum likelihood estimation (MLE) in infinite mixture distributions often lacks closed-form solutions, requiring numerical methods such as the Newton–Raphson algorithm. Selecting appropriate initial values is a critical challenge in these pro...
Sectoral vulnerability to distinct crisis types in small, open, and geopolitically exposed markets—such as Jordan—remains insufficiently quantified, constraining targeted policy design and portfolio allocation. This study’s primary...
Bitcoin’s extreme price volatility presents significant challenges for investors and traders, necessitating accurate predictive models to guide decision-making in cryptocurrency markets. This study compares the performance of machine learning a...
This study investigates whether publicly listed cannabis shares provide enough risk-adjusted returns to warrant their incorporation into diversified portfolios. An equally weighted portfolio of cannabis companies is constructed using monthly data fro...
This paper presents the development of a high-resolution composite index to monitor and quantify climate-related risks across Italy. The country’s complex climatic variability, extensive coastline, and low insurance penetration highlight the ur...
Tackling climate change in the public–private partnership (PPP) infrastructure sector requires radical transformation of projects to make them resilient against climate risks and free from excessive carbon emissions. Types of PPP infrastructure...
If intraday price data are unavailable, then using daily returns to construct realized measures of the variances of lower-frequency returns is a natural substitute for using high-frequency returns in this context. Notably, a suitable application of t...
As the global economy undergoes rapid digital transformation, cryptocurrencies have emerged as a prominent alternative class of financial assets. Their decentralized nature, pseudonymity, and lack of centralized oversight have attracted considerable...
This study explores the critical yet often misunderstood distinction between risk and uncertainty. The research examines how knowledge and expertise can contribute to an illusion of control in uncertain environments, leading decision-makers to miscla...
In this study, we aim to provide a comprehensive analysis of the risk management potential of sectoral Credit Default Swaps (CDSs) within financial portfolios. Our objectives are threefold: (i) to investigate the safe haven properties of sectoral CDS...
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