Welcome to
Nobuyoshi YAMORI's Homepage


Current Position
Professor, Research Institute for Economics and Business Administration, Kobe University

Office Address
Research Institute for Ecnomics and Business Administration
Kobe University
2-1, Rokkodai-cho, Nada-ku, Kobe 657-8501 Japan
e-mail: yamori@rieb.kobe-u.ac.jp


Education
1986 Shiga University BA in Economics
1988 Kobe University MA in Economics
1996 Nagoya University Ph.D. in Economics


Professional Career
1989-1990 Research Associate, Himeji Dokkyo University
1990-94 Assistant Professor, Himeji Dokkyo University
1994-95 Associate Professor, Himeji Dokkyo University
1995-96 Assistant Professor, Nagoya University
1996-2004 Associate Professor, Nagoya University
2004-2014, Professor, Nagoya University
2014-Present, Professor, Kobe University


Foreign Experiences
1990-1991 Visiting Scholar, Department of Economics Columbia University
1998 Visiting Scholar, Columbia Business School, Columbia University
1999-2000 Visiting Scholar, Federal Reserve Bank of San Francisco
2000 Visiting Scholar, Columbia Business School, Columbia University
2012 Visiting Professor, Faculty of Law, University of Auckland, NZ


Selective Public Services

Chairman, small and medium-sized enterprise finance measure advisory committee, Aichi Prefecture, 2006.

A member of independent administrative agency evaluation committee, The Ministry of Finance, 2007-.Present

A member of Industrial Structure Council, The Ministry of Economy, Trade and Industry, 2007-2011.

A member of Financial System Council, The Financial Services Agency, since 2011.

Research Interests
Banking, Insurance, Corporate Finance, Commodity Futures, Japanese Economy


Prizes

Encouragement Prize, The Japan Society of Household Economics, 1999.

Excellent Paper Prize, Kinyu Journal, 2001.

Excellent Paper Prize of the 50th anniversary of National Federation of Credit Guarantee Corporations, 2001.

Letter of thanks, The Minister for Public Management, Home Affairs, Posts and Telecommunications, 2002.

The Most Excellent Paper Prize Japanese commodity futures promotion society, 2004.

Excellent Book Prize, Commerce and Industry General Institute, 2005.

Excellence Research Prize, Kanpo Cultural Foundation, 2005.

Excellent Book Prize, Japanese Society of Regional Science, 2005.

Encouragement Prize, Japan Academic Society for Financial Planning. 2009


Edited Book in English

Kurihara, Yutaka, Takaya Sadami, and Nobuyoshi Yamori (eds.) Global Information Technology and Competitive Financial Alliances, IDEA Group Publishing, 2006.


Translation Works (from English to Japanese)

James L. Pierce (University of California, Berkeley) The Future of Banking, Yale University Press 1991. (Japanese version was published in 1993.)

Lutgar Van den Berghe (Erasumus University) (ed.) Financial Conglomerates; New Rules for New Players, Kluwer Academic Publishers, 1995. (Japanese version was published in 1998.)

Franklin R. Edwards (Columbia University) The New Finance: Regulation & Financial Stability, AEI Press 1996. (Japanese version was published in 1998.)

Joseph E. Stiglitz and Bruce Greenwald (Columbia University), Toward a New Paradigm in Monetary Economics, 2003. (Japanese version was published in 2003.)


Major Published Papers in English

1. Yamori, Nobuyoshi, "The relationship between domestic savings and investment: The Feldstein=Horioka test using Japanese regional data," June 1995, Economics Letters 48, 361-366.

2. Yamori, Nobuyoshi, "Do Japanese Banks Lead or Follow International Business? An Empirical Investigation" Journal of International Financial Markets, Institutions and Money 7 (4), December 1997, 369-382.

3. Yamori, Nobuyoshi, "A note on the location choice of multinational banks: The case of Japanese financial institutions" Journal of Banking and Finance 22, January 1998, 109-120.

4. Yamori, Nobuyoshi, "Does International Trading of Stocks Decrease Pricing Errors? Evidence from Japan" Journal of International Financial Markets, Institutions and Money 8, December 1998 413-432.

5. Yamori, Nobuyoshi, "Bureaucrat­managers and Corporate Governance: Expense­Preference Behavior in Japanese Financial Institutions" Economics Letters 61, December 1998, 385-389.

6. Yamori, Nobuyoshi, "Stock Market Reaction to the Bank Liquidation in Japan: A Case for the Informational Effect Hypothesis" Journal of Financial Services Research 15 (1), January 1999, 57-68.

7. Yamori, Nobuyoshi, "An Empirical Investigation on Japanese Corporate Demand of Insurance" Journal of Risk and Insurance 66 (2), June 1999, 239-252.

8. Yamori, Nobuyoshi, and Akinobu Murakami, "Does bank relationship have an economic value? The effect of main bank failure on client firms" Economics Letters 65, October 1999, 115-120.

9. Yamori, Nobuyoshi, "Contagion effects of the bank liquidation in Japan" Applied Economics Letters 6 (11), November 1999, 703-705.

10. Yamori, Nobuyoshi, and Taiji Baba, "Wealth Effects of the Financial Internationalization: A Case of the Yen­Dollar Agreement between the United States and Japan" Applied Financial Economics 10, April 2000 pp.193-198.

11. Yamori, Nobuyoshi, "Intraday Pricing Errors at the Tokyo Stock Exchange" International Journal of Business 5 (1), Spring 2000, pp.63-70.

12. Yamori, Nobuyoshi, and Taiji Baba, "Japanese Management Views on Overseas Exchange Listings: Survey Results," Journal of International Financial Management and Accounting 12-3, Autumn 2001 pp.286-316.

13. Yamori, Nobuyoshi, and Takeshi Kobayashi, "Do Japanese Insurers Benefit from a Catastrophic Event? Market Reaction to the 1995 Hanshin-Awaji Earthquake" Journal of Japanese and International Economies 16, March 2002 pp.92-108.

14. Yamori, Nobuyoshi and Kazumine Kondo, "How did Japanese banks make cutbacks in the 1990s?" International Journal of Business 7 (1), Spring 2002 pp.75-81.

15. Mark Spiegel and Nobuyoshi Yamori, "Financial Turbulence and the Japanese Main Bank," Journal of Financial Services Research 23 (3), June 2003 pp.205-223.

16. Mark Spiegel and Nobuyoshi Yamori, "The Impact of Japan's Financial Stabilization Laws on Bank Equity Values," Journal of Japanese and International Economies 17 (3), September 2003 pp.263-282.

17. Nobuyoshi Yamori and Panos Mourdoukoutas, "Does the Day of the Week Effect in Foreign Currency Markets Disappear? Evidence from the Yen /Dollar Market," International Finance Review 4, 2003 pp.443-459.

18. Nobuyoshi Yamori, Kozo Harimaya, and Kazumine Kondo, "Are banks affiliated with bank holding companies more efficient than independent banks? The recent experience regarding Japanese regional BHCs," Asia-Pacific Financial Markets 10, December 2003, pp.359-376.

19. Mark Spiegel and Nobuyoshi Yamori, "The Evolution of Bank Resolution Policies in Japan: Evidence from Market Equity Values" Journal of Financial Research 27 (1), March 2004, pp.115-132.

20. Nobuyoshi Yamori and Yutaka Kurihara "The Day of the Week Effect in the Foreign Exchange Market: multi-currency evidence" Research in International Business and Finance 18, 2004 pp.51-57.

21. Nobuyoshi Yamori and Takeshi Kobayashi, "Does Regulation Benefit Incumbent Firm? An Investigation of Japanese Insurance Market Deregulation," Journal of Insurance Regulation 22 (4), Summer 2004 pp.35-48.

22. Nobuyoshi Yamori and Narunto Nishigaki, "The Public Financial System in Japan: Re-verification of the Ballooning Theory and the Privileged Government Enterprise Theory," Public Policy Review 1 (1), March 2005, 33-47.

23. Nobuyoshi Yamori "Book Review:Stiglitz and Greenwald, Toward a New Paradigm in Monetary Economics, Cambridge University Press 2003" Briefing Notes in Economics 66 September/October 2005 pp.8-9.

24.Nobuyoshi Yamori "Contemporary Monetary Policy and Financial System Issues of Japan," Current Politics and Economics of Asia 14 (1), 2005, pp.1-28.

25. Nobuyoshi Yamori, Kozo Harimaya, and Yoshihiro Asai, "Recent Development of Information Technology in Japanese Banks," in Kurihara (eds.) Global Information Technology and Competitive Financial Alliances, IDEA Group Publishing, 2006. 24-38.

26. Nobuyoshi Yamori and Narunto Nishigaki "Recent Developments of Digital Cash Projects in Japan" in Kurihara (eds.) Global Information Technology and Competitive Financial Alliances, IDEA Group Publishing, 2006. 194-214.

27. Nobuyoshi Yamori and Toshiki Jinushi, "Introduction for the Special Issue on Contemporary Japanese Economy and Financial Markets" International Journal of Business 11 (1), 2006. 1-3.

28. Yamori, Nobuyoshi, "Asymmetric Regional Effects of Monetary Policy: An Empirical Evaluation of the Japanese Experience," Briefing Notes in Economics 68, March/April 2006 pp.1-10.

29. Mark M. Spiegel and Nobuyoshi Yamori "Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks" in M .Hutchison and F. Westermann (eds.) Japan's Great Stagnation: Financial And Monetary Policy Lessons for Advanced Economies (Cesifo Seminar), the MIT Press, 2006 pp.103-127.

30. Takeshi Kobayashi, Mark Spiegel, Nobuyoshi Yamori, "Quantitative Easing and Japanese Bank Equity Values" Journal of Japanese and International Economies 20, 2006, 699-721

31. Nobuyoshi Yamori, Narunto Nishigaki, and Yoshihiro Asai, "Credit Ratings in the Japanese Bond Market" in Jonathan A. Batten, Thomas A. Fetherston and Peter G. Szilagyi (eds.) "Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives" the Elsevier-North Holland, 2006、257-281.

32. Nobuyoshi Yamori and Taishi Okada, "Japanese Insurance Market and Companies: Recent Trends," J. David Cummins and Bertrand Venard (eds.) Handbook of International Insurance: Between Global Dynamics and Local Contingencies, Springer Science 2007 pp.147-204.

33. Mark Spiegel and Nobuyoshi Yamori, "Market Price Accounting and Depositor Discipline in Japanese Regional Banks," Journal of Banking and Finance 31 2007 pp.769-786.

34. Nobuyoshi Yamori and Ayami Kobayashi "Wealth Effect of Public Funds Injections to Ailing Banks; Do Deferred Tax Assets and Auditing Firms Matter?" Japanese Economic Review 58 (4) December 2007 466-483.

35. Nobuyoshi Yamori, "Japanese Corporate Finance: What factors affect the financial decisions of Japanese firms?" Alan N. Kendall ed. International Business and Finance Issues, Nova Science Publishers, Inc., 2007, pp.81-102.

36. Nobuyoshi Yamori, "Contemporary Monetary Policy and Financial System Issues of Japan," Harvery E. Roth (ed.) Asian Economic and Political Issues, Volume 11, Nova Science Publishers Inc. pp.73-95, 2007

37. Nobuyoshi Yamori and Kazumine Kondo, "How has Japan Housing Finance Agency's Flat 35 affected regional housing loan markets?" Government Auditing Review 15, March 2008 63-76

38. N.Yamori and N. Nishigaki, "Chapter 2: Japanese Banks: The lost decade and new challenges," Rien T. Segers (ed..) A New Japan for the Twenty-first Century: An Inside Overview of Current Fundamental Changes and Problems, Routledge, pp.35-54 Spring 2008.

39. H. Uchida, G. Udell, and N. Yamori, "How do Japanese Banks Discipline Small and Medium-Sized Borrowers?: An Investigation of the Deployment of Lending Technologies" International Finance Review (Institutional approach to global corporate governance), Volume 9, pp.57-80, 2008.

40. Nobuyoshi Yamori, "Contemporary Monetary Policy and Financial System Issues of Japan," Kaito Shimizu and Shouta Ishii (ed.) Japan: Economic, Political and Social Issues, Nova Science Publishers Inc. pp.87-108, 2008.

41. Nobuyoshi Yamori, and Kozo Harimaya, "Mergers Decision in Japanese Small Mutual Banks: Efficiency Improvement or Empire Buildings?" Corporate Ownership & Control 7(2) Winter 2009 pp.117-125.

42. Yamori, Nobuyoshi "Characteristics of Japan's Commodities Index and its Correlation with Stock Index," Journal of Applied Research in Finance I(2) Winter 2009, 187-192.

43. Jianjun Sun and Nobuyoshi Yamori, "Regional disparities and investment-cash flow sensitivity: Evidence from Chinese listed firms." Pacific Economic Review 14, 2009, pp.657-667.

44. Nobuyoshi Yamori, "What Types of Small and Medium-sized Businesses Are Utilizing New Financial Products?" iBusiness 1, pp.106-112, 2009.

45. Nobuyoshi Yamori, Taishi Okada, Takeshi Kobayashi, "Preparing for Large Natural Catastrophes: The current state and challenges of earthquake insurance in Japan," International Review of Business 10, pp.1-22 December 2009.

46. Yamori, Nobuyoshi, and Kei Tomimura, "Combating the Crisis," The Analyst (the Icfai University Press, India) pp.40-44 January 2010.

47.Nobuyoshi Yamori and Kozo Harimaya, "Do Managers in Mutual Institutions Choose Efficiency-Improving Mergers? The Recent Experience of Japanese Credit Associations" The IUP Journal of Bank Management IX(1&2) pp.7-11 February 2010.

48. Nobuyoshi Yamori, Kozo Harimaya "Efficiency in the Japanese trust banking industry: a stochastic distance function approach," Banks and Bank Systems, Volume 5, Issue 2, pp.86-95 2010.

49. John Krainer, Mark Spiegel, and N. Yamori "Asset Price Persistence and Real Estate Market Illiquidity: Evidence from Japanese Land Values" Real Estate Economics 38(2), pp.171-196 Summer 2010.

50. Nobuyoshi Yamori and Yoshihiro Asai, "Did Market Reform make Risk Evaluation on Japanese Firms Easier?:An Evidence from Credit Ratings," Journal of Applied Research in Finance II, pp.74-83, Summer 2010.

51.Yoshiaki Ogura, and Nobuyoshi Yamori, "Lending Competition and Relationship Banking: Evidence from Japan" International Journal of Business, 15(4), pp.377-393, 2010.

52. Yamori, Nobuyoshi, "Importance of Regional Financial Institutions in Regional Economic Development: The results of corporate surveys in Japan's Tokai and Kansai regions," Studies in Regional Science, Studies in Regional Science, Vol.40, No.4, pp867-881, 2010.

53. Nobuyoshi YAMORI, Hitoshi HIRAKAWA, Yong Ho CHOI, Byung Yong JIN, Gi Duck BU and Man Bong PARK, A Comparative Study on Regional Finance in Japan and Korea :Evidence from Three Questionnaires," Studies in Regional Science, Vol.40, No.4, 883-898, 2010.

54. Yamori, Nobuyoshi, Tomimura, Kei and Harimaya, Kozo "What kinds of credit associations favor introducing new financial technology," Applied Economics Letters 18 343-347, 2011.

55.Yamori, Nobuyoshi, "Co-movement between Commodity Market and Equity Market: Does Commodity Market Change?," Modern Economy Vol.2 No.3, pp..335-339, 2011.

56..Yamori, Nobuyoshi, "Commodity ETFs in the Japanese Stock Exchanges Journal of Advanced Studies in Finance Volume II Issue 1(3) pp.47-52 Summer 2011.

57. Nobuyoshi Yamori, Kozo Harimaya, Kei Tomimura, "The roles of outside directors in cooperative financial institutions: the case of Japan," Banks and Bank Systems, Volume 6, Issue 4, pp.10-13, 2011.

58. Hirofumi Uchida, Gregory F. Udell and Nobuyoshi Yamori, "Loan officers and relationship lending to SMEs" Journal of Financial Intermediation 21, pp.97-122, 2012.

59. Jianjun Sun, Kozo Harimaya and Nobuyoshi Yamori, "Regional economic development, strategic investors, and efficiency of Chinese city commercial banks," Journal of Banking and Finance 37, pp1602-1611, 2013.


Discussion or Working Papers in English

1. Yamori, Nobuyoshi, "Are Banks Leaders or Followers of International Business? Recent Experiences of Japanese Banks," Economic Research Center Discussion Paper, Nagoya University, No.95 1995.

2. Yamori, Nobuyoshi, and Takeshi Kobayashi "Is It True That Insurers Benefit from a Catastrophic Events? Market Reaction to the 1995 Hanshin-Awaji Earthquake" Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economic Studies, Working Paper 99-4, September 1999.

3. Yamori, Nobuyoshi, and Taiji Baba, "Japanese Management Views on Overseas Exchange Listings" Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economics Studies, Working Paper 99-5, October 1999.

4. Mark Spiegel and Nobuyoshi Yamori, "The Evolution of "Too-Big-To-Fail" Policy in Japan: Evidence from Market Equity Values" Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economic Studies, Working Paper 2000-01, April 2000.

5. Yamori, Nobuyoshi, and Narunto Nishigaki "Electronic Money Projects in Japan," Center on Japanese Economy and Business, Columbia Business School, Columbia University, Working Paper Series No.175, May 2000.

6. Mark Spiegel and Nobuyoshi Yamori, "Financial Turbulence and the Japanese Main Bank," Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economic Studies, Working Paper 2000-4, Dec 2000.

7. Yamori, Nobuyoshi, and Takeshi Kobayashi, "Japanese Insurers and Catastrophe: A Test of the 'Gaining form Loss' Hypothesis," Discussion Paper Series No. 0006, Institute of Economics, Chukyo University, February 2001.

8. Mark Spiegel and Nobuyoshi Yamori, "The Impact of Japan's Financial Stabilization Laws on Bank Equity Values," Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economic Studies, Working Paper PB01-07、September 2001.

9. Mark Spiegel and Nobuyoshi Yamori, "Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks," Federal Reserve Bank of San Francisco, Center for Pacific Basin Monetary and Economic Studies, Working Paper PB03-03、August 2003.

10. Mark Spiegel and Nobuyoshi Yamori, "Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks," CESifo Working paper No.1135, February 2004.

11.Yamori, Nobuyoshi, and Takeshi Kobayashi, "Does Regulation Benefit Incumbent Firm? An Investigation of Japanese Insurance Market Deregulation," Discussion Paper No.0401, Institute of Economics, Chukyo University, May 2004.

12. Mark M. Spiegel and Nobuyoshi Yamori "Market Price Accounting and Depositor Discipline in Japanese Regional Banks" Pacific Basin Working Papers Federal Reserve Bank of San Francisco, WP04-27, May 2004.

13.Nobuyoshi Yamori and Ayami Kobayashi, "Wealth Effect of Public Funds Injections to Ailing Banks; Do Deferred Tax Assets and Auditing Firms Matter?" Discussion Paper E-Series No. E04-1, Economic Research Center, School of Economics, Nagoya University, June 2004.

14. John Krainer, Mark Spiegel, and Nobuyoshi Yamori, "Asset Price Declines and Real Estate Market Illiquidity: Evidence from Japanese Land Values," Federal Reserve Bank of San Francisco Working Paper No. 2004-16, 2004.

15. Yamori, Nobuyoshi, "Contemporary Monetary Policy and Financial System Issues of Japan," Discussion Paper E-Series No.E05-2, Economic Research Center, School of Economics, Nagoya University, April 2005.

16. Nobuyoshi Yamori, Kozo Harimaya, and Yoshihiro Asai, "Recent Development of Information Technology in Japanese Banks," Discussion Paper E-Series No.E05-3, Economic Research Center, School of Economics, Nagoya University, April 2005.

17. Nobuyoshi Yamori and Narunto Nishigaki, "Recent Developments of Digital Cash Projects in Japan" Discussion Paper E-Series No.E05-4, Economic Research Center, School of Economics, Nagoya University, April 2005.

18. Nobuyoshi Yamori, Narunto Nishigaki, and Yoshihiro Asai, "Credit Ratings in the Japanese Bond Market" Discussion Paper No. 654 Institute of Social and Economic Research Osaka University March 2006.

19. Nobuyoshi Yamori, "Japanese Corporate Finance: What factors affect the financial decisions of Japanese firms? A survey result" Discussion Paper No. 655 Institute of Social and Economic Research Osaka University March 2006.

20. Nobuyoshi Yamori and Yoshihiro Asai, "The Demise of Bank-centered Economy and Increasing Roles of Credit Ratings in Japan," Discussion Paper No. 656 Institute of Social and Economic Research Osaka University March 2006..

21. Nobuyoshi Yamori, Narunto Nishigaki, and Yoshihiro Asai. "Credit Ratings in the Japanese Bond Market" COE Discussion Paper No. 116 Graduate School of Economics, Osaka University March 2006.

22. Nobuyoshi Yamori. "Japanese Corporate Finance: What factors affect the financial decisions of Japanese firms? A survey result" COE Discussion Paper No. 117 Graduate School of Economics, Osaka University March 2006

23. Nobuyoshi Yamori and Yoshihiro Asai, "The Demise of Bank-centered Economy and Increasing Roles of Credit Ratings in Japan," COE Discussion Paper No. 118 Graduate School of Economics, Osaka University March 2006.

24. Hirofumi Uchida, Gregory Udell, and Nobuyoshi Yamori, "SME financing and the choice of lending technology," RIETI Discussion Paper Series 06-E-025 April 2006.

25. Hirofumi Uchida, Gregory Udell, and Nobuyoshi Yamori, "Loan Officers and Relationship Lending" RIETI Discussion Paper Series 06-E-031 June 2006.

26. Yamori, Nobuyoshi, Okada, Taishi and Kobayashi, Takeshi (2009): Preparing for Large Natural Catastrophes: The current state and challenges of earthquake insurance in Japan. MPRA Paper 8851 2009.

27. Jianjun Sun a and Nobuyoshi Yamori, "Regional disparities and investment-cash flow sensitivity: Evidence from Chinese listed firms."MPRA Paper 14858, 2009.

28. Yoshiaki Ogura, and Nobuyoshi Yamori, "Lending Competition and Relationship Banking: Evidence from Japanese Prefectural level data" MPRA Paper 17862, 2009.

29. Nobuyoshi Yamori, "Importance of regional financial institutions in regional economic development: Based on the results of corporate surveys in Japan's Tokai and Kansai regions" MPRA Paper 14915, 2009.

30. Nobuyoshi Yamori, "What Types of Small and Medium-sized Businesses Are Utilizing New Financial Products?" MPRA Paper 17494, 2009.

31. Nobuyoshi Yamori, "Characteristics of Japan's Commodities Index and its Correlation with Stock Index," MPRA Paper 17160, 2009.

32 Yamori, Nobuyoshi and Hirakawa, Hitoshi (2009): A Comparative Study on Regional Finance in Japan and Korea: Evidence from Three Questionnaires MPRA Paper 18234 2009

33. Yamori, Nobuyoshi and Harimaya, Kozo (2010): Efficiency in the Japanese trust banking industry: A stochastic distance function approach MPRA Paper 21381 2010.

34. Yamori, Nobuyoshi (2010): Co-movement between Commodity Market and Equity Market: Does Commodity Market Change? MPRA Paper 23096 2010.


(Note) Most of above working papers are published in Journals and books after revisions. You can download some papers. Please search at IDEAS. (http://ideas.repec.org/e/pya158.html)


Journal Editor

International Journal of Business (since 1998)
 Risk Governance and Control: Financial Markets & Institutions



Journal Referee
Applied Financial Economics
Asia Pacific Financial Markets
Asia Pacific Journal of Risk and Insurance
Economic Incuiry
Economic Modelling
Economics Letters
Emerging Markets Finance and Trade
Empirica
The Geneve Risk and Insurance Review
International Journal of Business
International Review of Economics and Finance
International Review of Finance
Japanese Economic Review
Japan and the World Economy
Journal of Banking and Finance
Journal of Financial Stability
Journal of Insurance Issues
Journal of Japanese and International Economies
Journal of Money, Credit and Banking
Journal of Multinational Financial Management
Journal of Risk and Insurance
Pacific-Basin Finance Journal
Risk Management and Insurance Review
Studies in Regional Science