Starting from the requirement that risk measures of financial portfolios should be based on their losses, not their gains, we define the notion of loss-based risk measure and study the properties of this class of risk measures. We characterize loss-based risk measures by a representation theorem and give examples of such risk measures. We then discuss the statistical robustness of estimators of...

Panel data from the Household, Income and Labour Dynamics in Australia Survey are used to examine the impact of involuntary job loss on the mental health of spouses and adolescent children. Estimates from fixed effects models show that the mental health of women (but not men) declines following a spouse’s job loss, but only if that job loss results in a sustained period of non-employment or if ...

According to the adverse consequences that are brought by financial distress for companies, economy and financial –monetary institutions, the use of methods that can predict the occurrence of financial failure and prevent the loss of wealth is of great importance. The major models of credit risk assessment are based on retrospective information and using the methods which use the updated market...

We investigate earnings management (EM) behaviour at failed banks by examining the intensity and direction of EM around FDIC-insured commercial bank failures. Our empirical analysis indicates that failing engage in to a significantly greater extent than non-failing banks. results show banks’ discretion over loan loss provisions ranges from aggressive (upwards EM) conservative (downwards EM).

An 84-year-old man with mild to moderate Alzheimer’s disease can no longer manage his money or even shop at the local grocery store, but when taken to a bank, he signs a notarized reverse mortgage and loses $240,000 to his handyman who has secretly befriended the man over a 6-month period. What is needed for the financial services industry to help prevent financial exploitation of this type whi...

Introduction: Several studies have revealed an association between unemployment and ill health, and shown that unemployment can affect people differently. This study aimed to provide an understanding of the experiences of unemployment and perceptions of wellbeing among persons who involuntary lost their work during the recent economic recession in Gävle Municipality. Methods: Sixteen unemployed...

Studies on self-perception have demonstrated that tooth loss is associated with esthetic, functional, psychological and social impacts for individuals. However, not all subjects seek treatment immediately after tooth loss, even when desire for replacement is strongly expressed. The aim of this study was to evaluate the perception of patients submitted to tooth extraction about factors associate...