Open Access Zeitschriften Artikel – Finance + Banking

Accurate estimation of ultra-long-term interest rates is essential for financial regulators, life insurance companies, and pension funds. The Nelson-Siegel model and its extension, the Svensson model, are widely used thanks to their parsimony and …

This paper develops an integrated optimisation model for pricing and hedging oil derivatives in incomplete markets where available market quotes and the trader’s views, inventory and risk aversion may affect the pricing. The model is well suited …

This paper exploits individual trading records from a large brokerage service to investigate the trading patterns of retail investors who take short positions in stocks using contracts for differences (CFDs). Their risk tolerance, as reported in …

Unlike traditional assets, cryptocurrencies lack fundamental information such as dividends, earnings, or cash flows, requiring market participants to rely on alternative sources of information for price discovery and trading decisions. In this …

Current methodological research on randomized controlled trial design has predominantly focused on studies with a single primary endpoint. However, many trials in practice involve multiple competing target events. The optimal designs for survival …

We develop a methodology to decompose the tax revenue impact of the global minimum tax introduced in 2024 into several components and quantify its potential impact on profit shifting. We apply the methodology to a dataset comprising 34 thousand …

This paper investigates the transmission of monetary policy to real output, inflation, and housing markets in twelve European countries over the period 1995Q1-2025Q2. The paper emphasizes the importance of housing markets in the transmission …

When comparing multiple groups in clinical trials, we are not only interested in whether there is a difference between any groups but rather where the difference is. Such research questions lead to testing multiple individual hypotheses. To …

In clinical research, estimating the average treatment effect is a common goal. However, when treatment effects vary substantially across individuals, it is often more informative to evaluate the treatment effect within subgroups. This paper …

We estimate novel narrative monetary policy shocks for Brazil, derived from the Central Bank’s reaction function and accounting for both constant and time-varying systematic monetary policy. We then examine the effects of these shocks on Brazilian …

This paper investigates the time-varying dynamics of the Bitcoin price by examining its relationship with key global factors, including the VIX, the interest rate, the US dollar index, the oil price, and the gold price. The empirical analysis …

We develop a nonparametric similarity-based approach for binary time series that exploits recurring historical patterns to construct probability forecasts for all feasible multi-period outcome sequences. In contrast to conventional …

This paper investigates the physical layer security of indoor visible light communication (VLC) systems in the presence of randomly located eavesdroppers using a stochastic geometry framework. Unlike traditional LOS-only or perfect-CSI …

This paper presents a three-dimensional (3D) stochastic geometry framework to analyze intelligent reflecting surface (IRS) – assisted hybrid beamforming in massive MIMO downlink systems under imperfect channel state information (CSI). Leveraging …

Despite standardization since 3GPP Release 9, multicast and broadcast services (MBS) remain largely undeployed in commercial networks. Artificial intelligence may catalyze adoption by addressing the optimization complexity hindering practical …

Current status data are commonly encountered in modern medicine, econometrics and social science. Its unique characteristics pose significant challenges to the analysis of such data and the existing methods often suffer grave consequences when the …

This study develops estimation methods for a deep partially linear Cox proportional hazards model with a change point under current status data, aiming to accommodate complex change-point effects. Prior work has largely relied on linear models …

The rapid expansion of digital financial services, in particular mobile money, has been a game changer for financial inclusion in developing countries. This paper investigates the impact of mobile money adoption on non-resource tax revenues using …

This study examines the moderating role of board gender diversity (BGD) in the relationship between busy directors, foreign directors, non-executive directors, and environmental, social, and governance (ESG) performance. Using a sample of European …

Climate change brings serious challenges for various sectors of the economy, including the insurance industry. One important impact is its influence on mortality rates, which directly affect the financial reserves of life insurers. Accurately …