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This study conducts a systematic literature review on the effect of risk management on financial institutions’ efficiency. Using the PRISMA method, we analysed 173 studies published between 1990 and 2023 in journals ra...

The massive financial liberalization followed by accelerating financial globalization leaded to significant structural changes in the financial sector. Since financial institutions play a dominant role in functioning of ...

The empirical literature on credit risk is mainly based on modelling the probability of default, omitting the modelling of the loss given default. This paper is aimed to predict recovery rates on the rarely applied nonpa...