Open Access Zeitschriften Artikel – Versicherung + Risiko

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 …

Organizations are increasingly integrating generative artificial intelligence (AI) tools like ChatGPT for task-support purposes into the workplace. While such tools have been shown to boost productivity, it is critical to understand their …

This paper investigates whether aggregate investment predicts future market returns in the U.S. equity REIT sector. During more than half a century from 1972 to 2023 encompassing both vintage and new REIT eras, we find that a …

Existing studies have analyzed both the impact of internationalization on the survival of new ventures and the moderation of family ownership on the internationalization–performance relationship, but they have done separately. However, this …

The rapid advancements in AI have outpaced academic understanding of its effects on the new venture creation process. While the transformative potential of AI in learning processes in general is widely acknowledged, the mechanisms through which it …

Our study attempts to introduce a model of voluntary delisting based on firms’ borrowing capacity. In this model, we propose that a listed firm’s borrowing capacity exceeds that of a private firm only if the advantages of reduced private benefits …

Platforms have revolutionized value creation by enabling efficient matchmaking between customer groups. While traditionally associated with external value exchange, platform thinking represents the mechanism that, through matchmaking, supports …

Climate-related hazard exposure is hypothesized to increase systematic risk (market beta) for firms reliant on physical assets. Using data on the asset locations of 141 public real estate firms from 2002 to 2021, along with expected annual loss …

Vulnerable options of European and American style with a possible occurrence of an exogenous termination are studied under market incompleteness in a hazard-process setup. It is proved that the reduced upper price of a vulnerable European option …

Social capital (SC) is deeply embedded in the dynamics of family firms—the world’s most prevalent business form—shaping interactions within the family, across the organization, and with external stakeholders. Despite growing scholarly interest …

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 …