The Lehman bankruptcy highlights the potential for interconnectedness to cause negative
externalities through counterparty contagion, but the externalities may also arise from …

In this article, we provide a comprehensive review of the existing theoretical and empirical
literature regarding spillover effects (effects of a crisis event in an announcing firm on other …

The financial crisis and subsequent recession generated sizable operating losses for life
insurance companies, yet the consequences were far less significant than for other financial …

The spectacular failure of the 150-year-old investment bank Lehman Brothers on September
15th, 2008 was a major turning point in the global financial crisis that broke out in the …

The financial market events in September 2008 seem unprecedented in modern times.
While other systemically important events happened in the last thirty years affecting US …

The aim of this paper is to propose the first mathematical model for spillover effects caused
by operational losses and to calibrate it based on an extensive empirical study of spillover …

Enterprise Risk Management in Finance is a guide to measuring and managing Enterprise-
wide risks in financial institutions. Financial institutions operate in a unique manner when …

We examine the effects of the American International Group, Inc.'s (AIG's) loss
announcements and the Federal Reserve's subsequent innovation in the financial sector …

The effect of federal insurance regulation has been a perennial topic of debate. Proponents
have argued that federal regulation would result in a variety of benefits, including greater …

We document average abnormal stock returns of 14% for international insurance firms
designated as Global Systemically Important Insurers (G-SII). These gains are associated …