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Same Risk Area: An area-based approach for the management of bio-invasion risks from ships' ballast water
In: Marine policy, Band 97, S. 147-155
ISSN: 0308-597X
The Effect of Risk-Aversion on the Portfolio Allocation between Taxable Bonds and Non-Taxable Bonds of the Same Risk
In: The American economist: journal of the International Honor Society in Economics, Omicron Delta Epsilon, Band 41, Heft 2, S. 47-53
ISSN: 2328-1235
A well-known proposition found in numerous textbooks, as well as in marketing materials distributed by bond salesmen, asserts that a lower-yielding municipal bond can provide the same after-tax return as a higher-yielding corporate bond, ceteris paribus. A simple algebraic "equivalence relation" is sometimes adduced to illustrate what the before-tax yield on the corporate must be if its after-tax yield to the investor is to be equal to the yield on a municipal. A portfolio policy implication frequently suggested is that if the after-tax yield on the corporate is equal to the yield on the municipal, ceteris paribus, the "rational" investor should be indifferent to his allocation between the two. This paper constructs a theory to demonstrate the dubious validity of that investment policy. The theory in this paper relies on the assumptions respecting the risk-aversive attitude of investors as well as the presence of risky taxable income statistically independent of the income from the bonds. The main results of the analysis are expressed by two propositions that establish that the risk-averse investor will choose a specific allocation of his bond portfolio and will require a risk premium to induce him to hold municipals of the same risk as corporates.
An Institutional Account of Responsiveness in Financial Regulation- Examining The Fallacy and Limits of 'Same Activity, Same Risks, Same Rules' as the Answer to Financial Innovation and Regulatory Arbitrage
In: Computer Law and Security Review (2023)
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Same Same But Different: Credit Risk Provisioning Under IFRS 9
In: ECB Working Paper No. 2023/2841
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Same same but Different: Evidence for the Gender Risk Gap from the German Reunion
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All The Same? On a Certain Pattern in Cross‐National Death Risk
In: Risk analysis: an international journal, Band 40, Heft 9, S. 1831-1843
ISSN: 1539-6924
AbstractThis article considers whether a nation that fares relatively well (or badly) on a particular dimension of mortality risk tends also to do so on others. Working with 2016 data from the Global Burden of Disease (GBD) Study, we focus on six causes of premature death: transport accidents, other accidents, homicide, early‐childhood diseases, and both communicable and noncommunicable diseases beyond early childhood. We consider data from all 26 nations that had populations of at least 50 million in 2016, as well as 15 clusters of smaller nations that are similar in longevity (e.g., Scandinavia). We use an analytic method that facilitates useful comparisons across nations, for it recognizes that some potential death risks can be underestimated because citizens die sooner from other causes. We estimate reductions in lifespan from each of the six causes relative to natural lifespan as defined by GBD. It emerges that, for all 15 pairings among the six causes, these reductions are positively correlated. We introduce metrics to summarize a nation's overall "safety status," and find that losses of longevity because of premature deaths are nearly three decades fewer in the safest countries than in the least safe ones. Turning to possible explanations for the cross‐national differences, we find a strong association between a nation's safety status and both its economic wherewithal as indicated by the 2016 GDP per capita (adjusted for purchasing power parity) and its income inequality as reflected by its Gini coefficient.
Doing more while remaining the same? Flood risk governance in Poland
This paper presents how the approaches to flood risk in Poland have evolved over the last 25 years. The reliance on structural defence and on the state as the key responsible actor was challenged by four triggering events: two large floods; the collapse of the communist system; and the European Union accession. The paper reveals that (1) the radical transformation of the political system did not lead to significant changes in flood risk governance; (2) changes in response to disastrous floods are incremental. Despite the pressures, the Polish flood risk governance preserved its core functional characteristics. Until the 1997 flood, it exhibited the exhaustion mode of institutional dynamics, with issue marginalisation and poor financing, while after this flood, the layering‐type mode prevailed, where innovative ideas were accommodated by the established system. The analysis of the Polish flood risk governance dynamics suggests that changes cannot be taken for granted, even facing significant pressures and windows of opportunities.
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RISK FACTORS DIFFER ACCORDING TO SAME-SEX AND OPPOSITE-SEX INTEREST
In: Journal of biosocial science: JBS, Band 37, Heft 4, S. 481-497
ISSN: 1469-7599
Are risk behaviours in adolescence differentiated according to same-sex vs opposite-sex interest? For all respondents a five-point scale of interest in each sex used information from both of the first two in-home waves of the National Longitudinal Study of Adolescent Health (Add Health). Logistic regression predicted the probability of experiencing each risk behaviour from the same-sex and opposite-sex interest scores. Same-sex interests have more effect on emotional risk, and opposite-sex interests have more effect on substance use. Nevertheless, all risk variables except boys' depression are responsive to both same-sex and opposite-sex interest. The same-sex interest component of risk is attributed to the emotional strain of living with an anomalous sex interest in a heterosexual society.
Precautionary risk reduction and saving: Two sides of the same coin?
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Risk Factor Disclosures: Do Managers and Markets Speak the Same Language?
In: Accounting Horizons, forthcoming. https://doi.org/10.2308/HORIZONS-17-086
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The Flaw of Averages by Savage, Sam L
In: Risk analysis: an international journal, Band 29, Heft 12, S. 1807-1808
ISSN: 1539-6924