Does the financial market compensate investors for operational Losses?

Hasman, Augusto (Ecole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland)

It is well known that several industries, like the hotel industry, are subject to low frequency high impact events resulting from their operations. However, there is a dearth of academic research in this area. In this paper we propose an innovative methodology to study the problem using a combination of Asset Pricing Models and an original database. We find that asset prices compensate investors not only for market and credit risk, but also for operational risk.


Keywords:
Article Type:
scientifique
Faculty:
Economie et Services
School:
EHL
Institute:
Aucun institut
Subject(s):
Economie/gestion
Date:
2021-01
Pagination:
5 p.
Published in:
Operations Research Letters
Numeration (vol. no.):
2021, vol. 49, no. 1, pp. 101-105
DOI:
ISSN:
0167-6377
Appears in Collection:



 Record created 2021-01-22, last modified 2021-01-29

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)