Abnormal returns, risk, and financial statement data: the case of the Iraqi invasion of Kuwait

Article Abstract:

The US transportation industry was greatly affected by the six-day Iraqi invasion of Kuwait in 1990 in terms of financial experience. The industry experienced a -2.09% abnormal return and a cross-sectional analysis revealed a 31% variation in abnormal returns due to some significant factors such as firm size, leverage, liquidity and other dummy variables. However, individual firms were barely affected and performance variable was hardly a factor, suggesting the fact that flexible firms cope better with macroeconomic setbacks.

Transportation, Risk assessment, Economic aspects, Transportation industry, International offenses, Iraq-Kuwait Crisis, 1990-1991

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Asymmetries in risk and in risk attitude: the duopoly case

Article Abstract:

Issues are presented concerning the use of a duopoly model to demonstrate the attitude of businesses to risk. The equilibria achieved under asymmetric risk and the influence of uncertainty are discussed.

Risk (Economics), Duopolies, Uncertainty

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Value at risk using hyperbolic distributions

Article Abstract:

Issues are presented concerning the benefits of the practical computations of the Value at Risk concept. The benefits of using elliptical and Gaussian distributions are discussed.

Risk management, Distribution (Economics), Value (Economics), Gaussian distribution, Normal distribution

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