Risk management is crucial for optimal portfolio management. One of the fastest growing areas in empirical finance is the expansion of financial derivatives. The purpose of this special issue on “Risk Management and Financial Derivatives” is to highlight some areas in which novel econometric, financial econometric and empirical finance methods have contributed significantly to the analysis of r...

In recent years, the rapid increase in CO 2 concentration has accelerated global warming. As a result, sea levels rise, glaciers melt, extreme weather occurs, and species become extinct. world’s largest emission rights trading market, EU Emissions Trading System (EU-ETS) reached 1.855 billion tons of quotas by 2019, influencing development carbon market. Crude oil, as one major fossil energy so...