Helena Naffa

Biodiversity risk premium

We identify a biodiversity risk premium (BRP) in investment strategies designed to mitigate biodiversity risks. To capture this premium, we construct optimised portfolios by reweighting approximately 3,000 constituents of the MSCI All Country World Index, using their MSCI biodive...

A quarter century after the 1997 Asian crisis: Looking back, where are we now?

This study examines the evolution of systemic risk and contagion among Asian currencies and assesses whether vulnerabilities comparable to the 1997 Asian Crisis have re-emerged. Using daily exchange-rate returns for ten Asian currencies from 1994 to 2025, we combine component exp...