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Teixeira, N., Correia, A., Vinhas da Silva, R., Pereira, L. & Vinhas da Silva, S. (2023). Financial innovation as a response to crisis - The case of catastrophe bonds. Global Business and Economics Review. 29 (3), 316-331
N. Teixeira et al., "Financial innovation as a response to crisis - The case of catastrophe bonds", in Global Business and Economics Review, vol. 29, no. 3, pp. 316-331, 2023
@article{teixeira2023_1732206750961, author = "Teixeira, N. and Correia, A. and Vinhas da Silva, R. and Pereira, L. and Vinhas da Silva, S.", title = "Financial innovation as a response to crisis - The case of catastrophe bonds", journal = "Global Business and Economics Review", year = "2023", volume = "29", number = "3", doi = "10.1504/GBER.2023.133289", pages = "316-331", url = "https://www.inderscienceonline.com/doi/10.1504/GBER.2023.133289" }
TY - JOUR TI - Financial innovation as a response to crisis - The case of catastrophe bonds T2 - Global Business and Economics Review VL - 29 IS - 3 AU - Teixeira, N. AU - Correia, A. AU - Vinhas da Silva, R. AU - Pereira, L. AU - Vinhas da Silva, S. PY - 2023 SP - 316-331 SN - 1097-4954 DO - 10.1504/GBER.2023.133289 UR - https://www.inderscienceonline.com/doi/10.1504/GBER.2023.133289 AB - Large fluctuations in stock markets, caused by financial problems that may originate in the sector itself, as was the case of the 2007-2009 crisis, or originate in other events, as was the case of the 2020 pandemic that led to a sharp drop in the stock market between the first and second quarter of that year, lead market players to look for instruments that can prevent large losses. This study aims to understand whether innovative instruments such as insurance-linked securities, more specifically catastrophe bonds, can be an alternative to other more traditional instruments. For this purpose, Pearson's coefficient was used to analyse the relationship between the Dow Jones average yearly rate of return variable, between 2001 and 2020, and bonds and securities issued in the USA, between 2001 and 2020. The results showed a strong or tending to strong positive correlation during a specific period of time. ER -