In this paper, I build a model where financial intermediation slows the flow of capital. Investors optimally learn from intermediary performance to allocate capital toward profitable intermediaries. Intermediaries reach for yield, i.e invest in high tail risk assets, in an attempt to drive flows and reduce liquidation risk. Reaching for yield is stronger among intermediaries with weak opportuni...

Given a set of possible vector outcomes and the set of lotteries over it, we define sets of (a) von Neumann-Morgenstern representations of preferences over the lotteries, (b) mappings that yield the certainty equivalent outcomes corresponding to a lottery, (c) mappings that yield the risk premia corresponding to a lottery, (d) mappings that yield the acceptance set of lotteries corresponding to...

Given a set of vector outcomes and the set of lotteries over it, we define sets of (a) von Neumann-Morgenstern representations of cardinal preferences over the lotteries, (b) mappings that yield the certainty equivalent outcomes corresponding to a lottery, (c) mappings that yield the risk premia corresponding to a lottery, (d) mappings that yield the acceptance set of lotteries corresponding to...

This article examines potential climate change impacts on agricultural production at two locations in south-eastern Bavaria. The predicted changes of climatic variables lead to a higher yield variability and therefore increased production risk. Consequently, there is a need for adaptation strategies, especially an improved risk management, which will help farmers to cope with higher yield risks.

European agriculture suffers from a substantial deficit of protein sources forlivestock and the projected changes in agro-climatic conditions in Central Europeinclude a higher risk of drought. To address these challenges, the drought resistantlegume crop chickpea was compared with pea, barley and oat regarding its nitrogen(N) yield, protein yield and N use and utilization efficiency under Centr...

in this paper data were collected from 120 farmers in north khorassan province for the two periods (2005-2007) in order to survey the role of rain-fed lentil risk profile for designing an insurance model. to evaluate looses of each risk, risk frequency, risk impact criteria’s as well as risk matrix were used. results showed that low risk was the largest risk area. during study period, a decreas...

SETTING Primary health services in Cape Town, South Africa. STUDY AIM To compare tuberculosis (TB) diagnostic yield in an existing smear/culture-based and a newly introduced Xpert® MTB/RIF-based algorithm. METHODS TB diagnostic yield (the proportion of presumptive TB cases with a laboratory diagnosis of TB) was assessed using a non-randomised stepped-wedge design as sites transitioned to th...

AbstractPurpose - This study aims to demonstrate the impact of financial ratios on sukuk yield using risk as a mediator variable.Methodology focused corporations in general and employed path analysis Sobel test. The secondary data used for this spans years 2017 through 2019, with total 33 sukuks still outstanding each year. Findings-According study's findings, corporate liquidity has little bea...

Based on the fundamental equations of equity valuation, we derive here the relationship between the equity risk premium, duration and dividend yield. Aside from providing a logical foundation for the difference between the ex-ante and ex-post measures of the risk premium, the work leads to other outcomes, namely, but not specifically, (1) that the current, effective dividend policy is a signall...