Risks, Volume 13, Issue 8

This study investigates whether green assets can serve as safe havens for dirty assets in the context of carbon and energy futures markets. Using daily data from April 2021 to June 2025, the analysis focuses on four key instruments: carbon emissions...

One primary objective of the early warning system literature is to construct more accurate financial vulnerability prediction models and investigate the mechanisms and key factors that differentiate healthy from vulnerable financial states. Despite t...

This research examines the cognitive and psychological mechanisms underlying young adults’ reactions to ESG-labeled online advertisements, specifically resistance to persuasion and purchase intention. Based on dual-process theories of persuasio...

Bank scams involving the impersonation of law enforcement personnel and financial service providers continue to proliferate across South Africa, leading to substantial economic loss and psychological harm to certain individuals in the country. The pe...

This paper uses survival analysis as a tool to assess credit risk in loan portfolios within the framework of the Basel Internal Ratings-Based (IRB) approach. By modeling the time to default using survival functions, the methodology allows for the est...

This study investigates how Environmental, Social, and Governance (ESG) principles can be effectively integrated into the Balanced Scorecard (BSc) framework within local government organizations (LGOs) to enhance strategic planning and sustainability...

This paper studies the joint distribution of the default and prepayment losses for a large portfolio of loans, based on a bottom-up approach. The repayment behaviors of loans in the portfolio are determined by both systematic and idiosyncratic risk f...

This study explores how IFRS adoption is associated with analysts’ forecast accuracy, optimism, and dispersion in Saudi Arabia. Drawing on data from publicly listed firms from 2013 to 2020, we assess changes in forecasting behavior surrounding...

This study aims to combine deep and recurrent neural networks with a reduced-form portfolio model to predict future default rates across economic sectors. The industry-specific forecasts for Italian default rates produced with the proposed approach d...

This paper analyzes the volatility relationship between the Romanian BET index and the U.S. SFT-500 index during the period 2019–2024, with a particular focus on the impact of political and geopolitical shocks. The study investigates whether fi...

The digitalization of financial systems has intensified risks such as cyber fraud, data breaches, and financial exclusion, particularly for individuals with low digital financial literacy (DFL). As digital finance becomes ubiquitous, DFL has emerged...

In this paper a new state model is introduced, an adaptative state model in a binary temporal representation (ASMBRT) as well as its application in constructing an algorithmic trading system. The presented model uses the binary temporal representatio...

Population aging poses significant challenges to the sustainability of pension systems. This study presents an integrated methodological approach that uniquely combines actuarial life-cycle modeling with agent-based simulation to assess the potential...

Value-at-Risk (VaR) is a key metric widely applied in market risk assessment and regulatory compliance under the Basel III framework. This study compares two Monte Carlo-based VaR models using publicly available equity data: a return-based model cali...

We study the shape of the Bachelier-implied volatility of a spread option on two assets following correlated local volatility models. This includes the limiting case of spread options on two correlated Black–Scholes (BS) assets. We give an anal...

This article provides an overview of the current state-of-the-art in cyber risk and cyber risk management, focusing on the mathematical models that have been created to help with risk quantification and insurance pricing. We discuss the main ways tha...

The increasing pressure for environmental, social, and governance (ESG) accountability in publicly funded institutions has raised concerns about the authenticity and efficiency of ESG implementation. This study investigates the relationship between p...

Accepting a certain degree of investment loss risk is essential for long-term portfolio management. However, overconfidence bias within financial literacy can prompt excessively risky behavior and amplify susceptibility to other cognitive biases. The...

This study examined the dynamic interconnectedness and portfolio implications within the cryptocurrency ecosystem, focusing on five representative digital assets across the core functional categories: Layer 1 cryptocurrencies (Bitcoin (BTC) and Ether...