Are catastrophe bonds effective financial instruments in the transport and infrastructure industries? Evidence from international financial markets

• Authors: Puzzutilo Fabio , Venezia Elisabetta
• Languages of publication: EN

Abstracts

EN

We analyse the effectiveness of catastrophe bonds for the financial management of catastrophic risk in the transport and infrastructure industries. We illustrate how these financial instruments are becoming a valuable tool for non-financial firms in the risk management of catastrophic events, supplementing the traditional insurance/reinsurance channel, especially during times of constraints in the insurance industry. We also review cat bond issues sponsored by infrastructure and transport companies, highlighting the usefulness of these structured financial instruments in the management of the catastrophe exposure in these industries. Policy indications are finally given.

Keywords

EN

Catastrophe bonds; risk management; investment analysis; public investment; infrastructures; transportation

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Prague Development Center, Czech Republic
• Journal: Business and Economic Horizons
• Year: 2018
• Volume: Volume 14
• Issue: Issue 2
• Pages: 256-267

Dates

published

2018-02-22

Contributors

author

Puzzutilo Fabio

• Department of Economics, Management and Business Law, University of Bari Aldo Moro, Italy

author

Venezia Elisabetta

• Department of Economics and Finance, University of Bari Aldo Moro, Italy

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