Understanding Financial and Non-Financial Risk

Dear Colleagues,

We are pleased to announce a Special Issue of the Journal of Risk and Financial Management with an emphasis on financial and non-financial risk. We cordially invite the academic community to submit manuscripts related to the process of managing financial risk in financial institutions, to the process of managing non-financial risk by financial institutions or by corporates, and discussions on the interrelation between these risks and regulatory structures.

Financial institutions are the leaders in developing advanced approaches to managing financial risks. They have created a wide variety of instruments and strengthened methods that enhance our fundamental understanding that risks can be measured and quantified. These developments are driven by innovations by the financial markets and regulatory reforms following the recent financial crises. The interplay between regulations and financial innovation has led to finer risk management models that enrich our knowledge. Over the past two decades, new categories of non-financial risks, for example, cyber risk, ESG risk, and especially climate risk, have gained greater attention. Non-financial corporates have also gathered valuable experience in managing non-financial risks, which could be of benefit to financial institutions.

We welcome conceptual, theoretical, empirical, and methodological contributions that address aspects related to the Special Issue theme. Topics of interest include, but are not limited to, the following research questions:

• Are there new methods or is there new empirical evidence on how financial institutions manage market, credit, liquidity, operational, and systemic risk?
• What are the challenges for financial institutions to integrate climate risk in their risk management approaches?
• How do ESG-related issues influence the risk management process of financial institutions?
• How do non-financial institutions (corporates) manage non-financial risks?
• Do enterprise risk management (ERM) concepts vary across industries? How do ERM practices vary across industries?
• Can financial institutions benefit from the experience of non-financial corporations regarding the integration of cyber risk in their risk management approaches?
• How do regulations influence bank lending?
• Do the advancements in risk management help stabilize the financial system?
• What are the lessons learned from historical financial crises regarding risk management?
• What are the future challenges for banks and their regulators regarding the risk management process?
• What are the roles of central banks in the process of supervising financial and non-financial risks at the microprudential and macroprudential levels?

Prof. Dr. Klaus Schäfer
Dr. Huong Dang
Prof. Dr. Andreas Höfer
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

• risk management process
• market risk
• credit risk
• liquidity risk
• model risk
• ESG risk
• climate risk
• operational risk
• IT risk
• cyber risk
• systemic risk
• risk culture
• risk appetite
• regulations of financial institutions