Argyro T. Zisiadou - Academia.edu (original) (raw)
Papers by Argyro T. Zisiadou
MPRA Paper, Dec 1, 2018
The purpose of the paper is to present the occurrence and fatalities of the technological and com... more The purpose of the paper is to present the occurrence and fatalities of the technological and complex environmental hazards and draw an initial picture of concentration if there is any. For that reason, aggregate regional tables are used as well as map visualizations created in Rstudio. As it is shown, there appears to be a space concentration on the natural environmental hazards that need to be deeply examined with the use of advanced econometric techniques.
Environmental Economics and Policy Studies, Jan 31, 2017
This study relies on a recently proposed methodology for constructing an environmental performanc... more This study relies on a recently proposed methodology for constructing an environmental performance index. First, two different versions of the index are considered and compared having as reference point Greece and comparing it with other countries in the Mediterranean as well as in Northern Europe. Next, the index is used with some socioeconomic variables together with various cultural dimensions to model its behavior. Examining the relationship between the index and economic growth, we observe an inverted U-shape in the case of the Globe and Middle East and Africa, an N-shape for Europe while such a relationship is not found for Asia and Oceania. The turning points are high in all cases but their values are within the sample. The most important explanatory variable seems to be the life expectancy with a very high positive effect in all cases. The population density affects negatively the Environmental Performance Index but with a very low magnitude. Concerning the cultural dimensions, masculinity and power distance proved to be statistically insignificant with individualism and uncertainty avoidance affecting negatively Middle East and Africa and Europe, respectively, and positively Asia and Oceania; long-term orientation and indulgence affect negatively Asia and Oceania, with the latter affecting negatively also the Globe.
RePEc: Research Papers in Economics, Jun 1, 2016
The aim of this paper is to explore the determinants of terrorist unexpected events and if these ... more The aim of this paper is to explore the determinants of terrorist unexpected events and if these events can affect economic markets. Based on the existing literature and the methodologies already been used, our purpose is to draw some attention to specific events, which may create losses to investors or even to countries. Specifically, after a thoughtful consideration of the existing relative studies, we discuss a number of empirical findings concerning the main determinants of terrorism. In particular, religions and especially fanatics is the most common determinant followed by the economic perspective of an attack. We show that the more democratic and developed countries are inclined to decrease the spread on the returns. Relying on these empirical findings, we discuss the implied policy implications and the necessary further research.
Journal of Risk and Financial Management
This paper reviews the case of nuclear energy. Currently, the worldworld is facing one of the gre... more This paper reviews the case of nuclear energy. Currently, the worldworld is facing one of the greatest energy crises due to the Russo-Ukrainian war. This conflict has lead to limited sources of gas, causing a dramatic decrease in energy supply, leading to emerging energy crisis risks. This is one on the main purposes of reviewing nuclear energy as a possible energy alternative in the future. Apart from presenting the basis of nuclear energy and nuclear reactors, we attempt to compare this source of electricity with other renewable energy forms, such as solar, wind and hydroelectric power. Furthermore, we illustrate the benefits and drawbacks that have been observed regarding nuclear power as well as its contribution to economic growth and the impact it has had on the environment. It has been said that, with the use of nuclear power, air pollution will be reduced because of the elimination of greenhouse gases. However, nuclear power, apart from the final product, generates waste that...
Economics of Disasters and Climate Change, 2019
The purpose of the paper is to present an extended literature review with statistical results on ... more The purpose of the paper is to present an extended literature review with statistical results on technological environmental hazards relying on data from the last 117 years (1900–2016). More specifically, this paper is a sequel of the authors previous paper which analyzed the natural environmental hazards. Particularly, we hypothesize that the most developed countries will have high economic losses and that the least developed countries will have great fatalities. In this way we examine if fatalities are proved to be significant in the least developed countries and the total economic damages are proved to be significant in the most developed countries. A number of graphical presentations come to strengthen the statistical results by using map visualization techniques.
Economic Analysis and Policy, 2017
The aim of this paper is to explore the determinants of terrorist unexpected events and if these ... more The aim of this paper is to explore the determinants of terrorist unexpected events and if these events can affect economic markets. Based on the existing literature and the methodologies already been used, our purpose is to draw some attention to specific events, which may create losses to investors or even to countries. Specifically, after a thoughtful consideration of the existing relative studies, we discuss a number of empirical findings concerning the main determinants of terrorism. In particular, religions and especially fanatics is the most common determinant followed by the economic perspective of an attack. We show that the more democratic and developed countries are inclined to decrease the spread on the returns. Relying on these empirical findings, we discuss the implied policy implications and the necessary further research.
The aim of this paper is to provide answers to questions related to valuation accuracy and error ... more The aim of this paper is to provide answers to questions related to valuation accuracy and error determinants by investigating the US market over the last 15 years (2000-2014). The first questions are related to the market efficiency in its weak form, while the rest of the paper is focused on valuation accuracy using the multiples approach and the error determinant variables that can influence the valuation accuracy. The main results for the market efficiency are that only the small capitalization index (S&P 600) is efficient in its weak form. Regarding valuation accuracy, it was discovered that the 12-month forward-looking multiples are more accurate at approximating market values than trailing multiples. In addition, the authors were able to conclude that equity multiples performed better than entity multiples. Lastly, through estimations, it is proven that valuation errors are influenced by specific error determinants both from the current period and the past period observations, while the valuation error of the previous year appears to have a significant influence on the new valuation error.
This study relies in the proposed methodology by the Universities of Yale and Columbia for constr... more This study relies in the proposed methodology by the Universities of Yale and Columbia for constructing an environmental performance index. Two different versions of the index are considered and compared having as reference point our country (Greece) and comparing it with other countries in the Mediterranean as well as in Northern Europe. Both versions (the one of 2014 and the other of 2016) of the index consists of two components, the environmental health and the ecosystem vitality. These two components are constructed with the help of nine variables (and nineteen indicators behind) relevant to the environment. These variables are health impact, air quality, water and sanitation, water resources, agriculture, forestry, fisheries, biodiversity and habitat and climate and energy. In the case of EPI 2016 the construction of the index has improved relying on the same two components and 9 variables but in twenty (in most cases different) indicators. Next the index is used with some soci...
Journal of Risk and Financial Management
Climate change has become an increasingly intense global phenomenon in recent years. A great numb... more Climate change has become an increasingly intense global phenomenon in recent years. A great number of researchers support the idea that climate change is strongly connected to some environmental hazards, and specifically, those correlated to extreme weather events. Following the Paris Agreement, and due to the increased concern regarding climate change impacts, several indices have been established. The Climate Change Performance Index (CCPI) includes 59 countries and the EU, which cumulatively emit 92% of global greenhouse gases (GHGs), while the Global Climate Risk Index (CRI) analyzes to what extend countries have been affected by impacts of weather-related loss events. Both indices provide annual scores to each country and rank them based on those scores indicating the existing environmental situation. Our main purpose is to examine whether there is an interconnection between those two indices as well as testify whether economic growth is a great contributor to country’s enviro...
Journal of Risk and Financial Management, 2020
The purpose of this paper is to approach the way investors perceive the risk associated with unex... more The purpose of this paper is to approach the way investors perceive the risk associated with unexpected environmental disasters. For that reason, we examine certain types of natural and technological disasters, also known as “na-tech”. Based on the existing relevant literature and historical sources, the most common types of such disasters are geophysical and industrial environmental disasters. After providing evidence of the historical evolution of the na-tech events and a brief description of the events included in the sample, we estimate the systematic risk of assets connected to these events. The goal is to capture possible abnormalities as well as to observe investors’ psychology of risk after the occurrence of an unexpected event. Finally, we examine whether macroeconomic factors may affect those abnormalities. The empirical findings indicate that the cases we examined did not cause significant cumulative abnormal returns. Moreover, some events caused an increase in systematic...
The main purpose of this paper is the comparative analysis of the Mediterranean Countries of Euro... more The main purpose of this paper is the comparative analysis of the Mediterranean Countries of European Union on economic and developmental level throughout the duration of their existence within the Union as well as during the recent year duration of the great economic crisis. In the first part of the paper is a reference to the reasons for setting up this Union, the reasons for inclusion of each country as well as the rules and conditions set by the respective institutions of the European Union. In the next part, there is a historical overview of the European Union studying the Treaties (in chronological order), the enlargement of the Union, the adoption of the common currency and the great crisis of 2008 and its effects. In the third part of the paper, it is developed a comparative case study of the six (6) Mediterranean countries (Cyprus, Greece, Italy, France, Spain, and Portugal) on various economic and development indicators. Finally, the fourth part draws conclusions about whether the expectations created by the establishment of the EU achieved over time.
Economics of Disasters and Climate Change, 2021
The purpose of this paper is to examine whether there is a possible hedging technique against a p... more The purpose of this paper is to examine whether there is a possible hedging technique against a potential unexpected hazard, that can secure the capital invested by individuals or corporations. More specifically, the traditional hedging techniques are presented and illustrating whether they can be applicable against unexpected environmental disasters. Moreover, the evolution of hedging techniques regarding the catastrophe disasters are presented in the papers. After illustrating hazard-prone areas with the use of mapping visualization, techniques or catastrophe risk management and risk minimizations are proposed in an attempt to reduce the direct and indirect losses after a disastrous events while at the same time increase the trustworthiness of corporations and governments.
Economics of Disasters and Climate Change, 2018
The purpose of the paper is to present an extended literature review with statistical results on ... more The purpose of the paper is to present an extended literature review with statistical results on natural environmental hazards relying on data from the last 117 years (1900-2016). More specifically, inspired by a statement in Smith's (1996) book "the rich lose their money but the poor lose their lives" in this study we detect the high-risk areas and correlate them with economic characteristics in an attempt to accept or reject the above statement. Particularly, we hypothesize that the most developed countries have high economic losses and that the least developed countries have great fatalities. In this way we examine if fatalities are proved to be significant in the least developed countries and the total economic damages are proved to be significant in the most developed countries. A number of graphical presentations come to strengthen the statistical results by using map visualization techniques.
This paper presents the occurrences and fatalities of natural environmental hazards drawing an in... more This paper presents the occurrences and fatalities of natural environmental hazards drawing an initial picture of concentration, if there is any. For that reason, the authors use aggregate regional tables as well as map visualizations created in R- studio. As it is shown, there appears to be a space concentration on the natural environmental hazards that need to be deeply examined with the use of advanced econometric techniques.
MPRA Paper, Dec 1, 2018
The purpose of the paper is to present the occurrence and fatalities of the technological and com... more The purpose of the paper is to present the occurrence and fatalities of the technological and complex environmental hazards and draw an initial picture of concentration if there is any. For that reason, aggregate regional tables are used as well as map visualizations created in Rstudio. As it is shown, there appears to be a space concentration on the natural environmental hazards that need to be deeply examined with the use of advanced econometric techniques.
Environmental Economics and Policy Studies, Jan 31, 2017
This study relies on a recently proposed methodology for constructing an environmental performanc... more This study relies on a recently proposed methodology for constructing an environmental performance index. First, two different versions of the index are considered and compared having as reference point Greece and comparing it with other countries in the Mediterranean as well as in Northern Europe. Next, the index is used with some socioeconomic variables together with various cultural dimensions to model its behavior. Examining the relationship between the index and economic growth, we observe an inverted U-shape in the case of the Globe and Middle East and Africa, an N-shape for Europe while such a relationship is not found for Asia and Oceania. The turning points are high in all cases but their values are within the sample. The most important explanatory variable seems to be the life expectancy with a very high positive effect in all cases. The population density affects negatively the Environmental Performance Index but with a very low magnitude. Concerning the cultural dimensions, masculinity and power distance proved to be statistically insignificant with individualism and uncertainty avoidance affecting negatively Middle East and Africa and Europe, respectively, and positively Asia and Oceania; long-term orientation and indulgence affect negatively Asia and Oceania, with the latter affecting negatively also the Globe.
RePEc: Research Papers in Economics, Jun 1, 2016
The aim of this paper is to explore the determinants of terrorist unexpected events and if these ... more The aim of this paper is to explore the determinants of terrorist unexpected events and if these events can affect economic markets. Based on the existing literature and the methodologies already been used, our purpose is to draw some attention to specific events, which may create losses to investors or even to countries. Specifically, after a thoughtful consideration of the existing relative studies, we discuss a number of empirical findings concerning the main determinants of terrorism. In particular, religions and especially fanatics is the most common determinant followed by the economic perspective of an attack. We show that the more democratic and developed countries are inclined to decrease the spread on the returns. Relying on these empirical findings, we discuss the implied policy implications and the necessary further research.
Journal of Risk and Financial Management
This paper reviews the case of nuclear energy. Currently, the worldworld is facing one of the gre... more This paper reviews the case of nuclear energy. Currently, the worldworld is facing one of the greatest energy crises due to the Russo-Ukrainian war. This conflict has lead to limited sources of gas, causing a dramatic decrease in energy supply, leading to emerging energy crisis risks. This is one on the main purposes of reviewing nuclear energy as a possible energy alternative in the future. Apart from presenting the basis of nuclear energy and nuclear reactors, we attempt to compare this source of electricity with other renewable energy forms, such as solar, wind and hydroelectric power. Furthermore, we illustrate the benefits and drawbacks that have been observed regarding nuclear power as well as its contribution to economic growth and the impact it has had on the environment. It has been said that, with the use of nuclear power, air pollution will be reduced because of the elimination of greenhouse gases. However, nuclear power, apart from the final product, generates waste that...
Economics of Disasters and Climate Change, 2019
The purpose of the paper is to present an extended literature review with statistical results on ... more The purpose of the paper is to present an extended literature review with statistical results on technological environmental hazards relying on data from the last 117 years (1900–2016). More specifically, this paper is a sequel of the authors previous paper which analyzed the natural environmental hazards. Particularly, we hypothesize that the most developed countries will have high economic losses and that the least developed countries will have great fatalities. In this way we examine if fatalities are proved to be significant in the least developed countries and the total economic damages are proved to be significant in the most developed countries. A number of graphical presentations come to strengthen the statistical results by using map visualization techniques.
Economic Analysis and Policy, 2017
The aim of this paper is to explore the determinants of terrorist unexpected events and if these ... more The aim of this paper is to explore the determinants of terrorist unexpected events and if these events can affect economic markets. Based on the existing literature and the methodologies already been used, our purpose is to draw some attention to specific events, which may create losses to investors or even to countries. Specifically, after a thoughtful consideration of the existing relative studies, we discuss a number of empirical findings concerning the main determinants of terrorism. In particular, religions and especially fanatics is the most common determinant followed by the economic perspective of an attack. We show that the more democratic and developed countries are inclined to decrease the spread on the returns. Relying on these empirical findings, we discuss the implied policy implications and the necessary further research.
The aim of this paper is to provide answers to questions related to valuation accuracy and error ... more The aim of this paper is to provide answers to questions related to valuation accuracy and error determinants by investigating the US market over the last 15 years (2000-2014). The first questions are related to the market efficiency in its weak form, while the rest of the paper is focused on valuation accuracy using the multiples approach and the error determinant variables that can influence the valuation accuracy. The main results for the market efficiency are that only the small capitalization index (S&P 600) is efficient in its weak form. Regarding valuation accuracy, it was discovered that the 12-month forward-looking multiples are more accurate at approximating market values than trailing multiples. In addition, the authors were able to conclude that equity multiples performed better than entity multiples. Lastly, through estimations, it is proven that valuation errors are influenced by specific error determinants both from the current period and the past period observations, while the valuation error of the previous year appears to have a significant influence on the new valuation error.
This study relies in the proposed methodology by the Universities of Yale and Columbia for constr... more This study relies in the proposed methodology by the Universities of Yale and Columbia for constructing an environmental performance index. Two different versions of the index are considered and compared having as reference point our country (Greece) and comparing it with other countries in the Mediterranean as well as in Northern Europe. Both versions (the one of 2014 and the other of 2016) of the index consists of two components, the environmental health and the ecosystem vitality. These two components are constructed with the help of nine variables (and nineteen indicators behind) relevant to the environment. These variables are health impact, air quality, water and sanitation, water resources, agriculture, forestry, fisheries, biodiversity and habitat and climate and energy. In the case of EPI 2016 the construction of the index has improved relying on the same two components and 9 variables but in twenty (in most cases different) indicators. Next the index is used with some soci...
Journal of Risk and Financial Management
Climate change has become an increasingly intense global phenomenon in recent years. A great numb... more Climate change has become an increasingly intense global phenomenon in recent years. A great number of researchers support the idea that climate change is strongly connected to some environmental hazards, and specifically, those correlated to extreme weather events. Following the Paris Agreement, and due to the increased concern regarding climate change impacts, several indices have been established. The Climate Change Performance Index (CCPI) includes 59 countries and the EU, which cumulatively emit 92% of global greenhouse gases (GHGs), while the Global Climate Risk Index (CRI) analyzes to what extend countries have been affected by impacts of weather-related loss events. Both indices provide annual scores to each country and rank them based on those scores indicating the existing environmental situation. Our main purpose is to examine whether there is an interconnection between those two indices as well as testify whether economic growth is a great contributor to country’s enviro...
Journal of Risk and Financial Management, 2020
The purpose of this paper is to approach the way investors perceive the risk associated with unex... more The purpose of this paper is to approach the way investors perceive the risk associated with unexpected environmental disasters. For that reason, we examine certain types of natural and technological disasters, also known as “na-tech”. Based on the existing relevant literature and historical sources, the most common types of such disasters are geophysical and industrial environmental disasters. After providing evidence of the historical evolution of the na-tech events and a brief description of the events included in the sample, we estimate the systematic risk of assets connected to these events. The goal is to capture possible abnormalities as well as to observe investors’ psychology of risk after the occurrence of an unexpected event. Finally, we examine whether macroeconomic factors may affect those abnormalities. The empirical findings indicate that the cases we examined did not cause significant cumulative abnormal returns. Moreover, some events caused an increase in systematic...
The main purpose of this paper is the comparative analysis of the Mediterranean Countries of Euro... more The main purpose of this paper is the comparative analysis of the Mediterranean Countries of European Union on economic and developmental level throughout the duration of their existence within the Union as well as during the recent year duration of the great economic crisis. In the first part of the paper is a reference to the reasons for setting up this Union, the reasons for inclusion of each country as well as the rules and conditions set by the respective institutions of the European Union. In the next part, there is a historical overview of the European Union studying the Treaties (in chronological order), the enlargement of the Union, the adoption of the common currency and the great crisis of 2008 and its effects. In the third part of the paper, it is developed a comparative case study of the six (6) Mediterranean countries (Cyprus, Greece, Italy, France, Spain, and Portugal) on various economic and development indicators. Finally, the fourth part draws conclusions about whether the expectations created by the establishment of the EU achieved over time.
Economics of Disasters and Climate Change, 2021
The purpose of this paper is to examine whether there is a possible hedging technique against a p... more The purpose of this paper is to examine whether there is a possible hedging technique against a potential unexpected hazard, that can secure the capital invested by individuals or corporations. More specifically, the traditional hedging techniques are presented and illustrating whether they can be applicable against unexpected environmental disasters. Moreover, the evolution of hedging techniques regarding the catastrophe disasters are presented in the papers. After illustrating hazard-prone areas with the use of mapping visualization, techniques or catastrophe risk management and risk minimizations are proposed in an attempt to reduce the direct and indirect losses after a disastrous events while at the same time increase the trustworthiness of corporations and governments.
Economics of Disasters and Climate Change, 2018
The purpose of the paper is to present an extended literature review with statistical results on ... more The purpose of the paper is to present an extended literature review with statistical results on natural environmental hazards relying on data from the last 117 years (1900-2016). More specifically, inspired by a statement in Smith's (1996) book "the rich lose their money but the poor lose their lives" in this study we detect the high-risk areas and correlate them with economic characteristics in an attempt to accept or reject the above statement. Particularly, we hypothesize that the most developed countries have high economic losses and that the least developed countries have great fatalities. In this way we examine if fatalities are proved to be significant in the least developed countries and the total economic damages are proved to be significant in the most developed countries. A number of graphical presentations come to strengthen the statistical results by using map visualization techniques.
This paper presents the occurrences and fatalities of natural environmental hazards drawing an in... more This paper presents the occurrences and fatalities of natural environmental hazards drawing an initial picture of concentration, if there is any. For that reason, the authors use aggregate regional tables as well as map visualizations created in R- studio. As it is shown, there appears to be a space concentration on the natural environmental hazards that need to be deeply examined with the use of advanced econometric techniques.