Common ownership and fire-sale channels
Holdings overlap between funds is combined with the relationship between flows and performance to trace how redemptions in one group of funds lower prices for every holder of the same assets.
GRA · Asset Management Nexus
Spatial financeWhere capital meets hazard, exposure and transition
Financial economics for asset management
Financial economics and macro-finance explain how asset prices, fund flows and institutions transmit shocks between portfolios and the real economy. In asset management they frame why common exposures matter, how risk premia respond to climate and policy, and how fund behaviour feeds back into the prices of what funds hold.
01ناوەڕۆک
Financial economics for asset management in five parts.
02بەکارهێنان
What financial economics and macro-finance does here.
Financial economics and macro-finance study how asset prices, credit and financial institutions interact with the real economy. They explain how shocks are amplified or absorbed through balance sheets and markets. In capital markets and investment, climate and hazards and biodiversity and nature, financial economics traces how physical, health or cyber shocks transmit to credit, sovereign debt and markets. It informs macroprudential policy and the pricing of risk. The canonical description is on the STEM Commons.
Pricing of transition risk
Asset pricing models test whether returns compensate for carbon intensity or transition exposure, and whether repricing follows policy announcements, with the identifying assumptions stated beside each test.
Non-bank intermediation and stability
Balance sheets of funds, insurers and pension schemes are linked to bank and dealer balance sheets to show where leverage and liquidity demands concentrate in a market-wide stress.
03چاودێری
Econometric model.
The screen a team would use to follow this method: its measures, states and decisions. Names are examples and values are illustrative.
Econometric model
Asset management · Financial economics for asset · Run R-8979
Estimates stableGRA · Asset Management Nexus
Estimates
robust standard errors
| Active risk | 0.38 | 0.16 | [−0.2, 0.9] | نەخێر |
| Top 10 holdings weight | 0.46 | 0.13 | [0.0, 0.4] | بەڵێ |
| Days to liquidate 90 pct | 0.28 | 0.15 | [−0.2, 0.7] | بەڵێ |
| Portfolio temperature alignment | 0.39 | 0.17 | [−0.2, 0.8] | نەخێر |
Method card
- ڕێگا
- ئابووریی دارایی و دارایی گەورە
- Sample
- 7093 obs
- دیزاین
- panel, fixed effects
- ناونیشان
- مۆدێلکراو
Residuals by group
04داتا
What the method consumes.
Datasets and records used by financial economics and macro-finance on this platform, with the role each plays and the label its values carry. Sources are listed in the source register.
| داتا | ڕۆڵ | ناونیشان |
|---|---|---|
| Fund holdings and flow statistics | Common exposures and investor behaviour | REPORTED |
| Market prices, yields and spreads | Asset pricing and repricing | چاودێریکراو |
| Financial accounts and flow of funds | Sector balance sheets | ئامارە بڵاوکراوەکان |
| Corporate emissions and disclosures | Climate risk characteristics of issuers | مەزەندەکراو |
05Exposure, loss and capital
What financial economics for asset management means for exposure, loss and capital.
The exposure, loss, scenario and capital views a risk officer, supervisor or ministry of finance would ask for, with the frameworks they report against. Structures follow supervisory and actuarial practice. Values are illustrative: never prices, ratings or advice.
Scenario pathways
How financial economics for asset management could be stressed under the scenario families central banks and supervisors use.
| Scenario family | Transition risk | Physical risk | What a stress test asks |
|---|---|---|---|
| Orderly | Early, gradual policy | نزم | Can the book absorb a steady repricing? |
| Disorderly | Late, abrupt policy | Lower to medium | What breaks under a sudden repricing and credit migration? |
| Hot house world | Limited policy | High and rising | Where do physical losses concentrate in collateral and insurance? |
NGFS climate scenarios · Network for Greening the Financial SystemIFRS S2 Climate-related Disclosures · ISSBTCFD recommendations · Financial Stability Board TCFDPrinciples for the effective management of climate-related financial risks · Basel Committee on Banking Supervision
06پشتڕاستکردنەوە
How results are checked.
Models are back-tested against historical market episodes and crises. Results are compared with supervisory data and alternative specifications.
| بپشکنە | How it is done |
|---|---|
| Episode back-testing | Channels are tested against known stress episodes in money market and bond funds before they are used in scenarios |
| Alternative specifications | Results are compared across factor models, samples and definitions, and the sensitivity is reported |
| Reconciliation with supervisory aggregates | Estimates built from public holdings are reconciled with ESMA, SEC and central bank aggregates where they exist |
Relationships estimated in calm periods may break down in stress. Hidden leverage and interconnections are often unobserved.
07پرۆسە
چۆن پرۆسەکە کار دەکات.
Process explorer · Process
Financial economics for asset management: PRISMA 2020 review reporting
10 steps·4 قۆناغ
پرۆسە
Financial economics for asset management: PRISMA 2020 review reporting
PRISMA 2020 is a reporting guideline for systematic reviews; the steps follow its checklist, not a mandated sequence, and no Nexus document adopts it.
01 Plan
- 01Registration and protocolRecord · The review teamThe guideline asks for registration details, access to the protocol and any amendments.
- 02Eligibility criteriaRecord · The review teamThe guideline asks for the inclusion and exclusion criteria and how studies were grouped.
02 Find and select
- 03Search: sources and strategiesStep · The review teamThe guideline asks for the information sources and the full search strategies. It does not fix which sources are used.
- 04Selection of studiesStep · The review teamThe guideline asks how studies were judged eligible, including how many reviewers screened. It does not fix the number of reviewers.
- 05Flow diagramتۆمارThe flow diagram shows the number of records found, the number of studies included and the reasons for exclusion.
03 Analyse
- 06Data collectionStep · The review teamThe guideline asks how data were collected from reports and which data items were sought.
- 07Risk of biasStep · The review teamThe guideline asks for the methods and tools used to assess risk of bias.
- 08SynthesisModel · The review teamThe guideline asks for the effect measures and the synthesis methods. It does not prescribe meta-analysis.
- 09دڵنیاییی بەڵگەStep · The review teamThe guideline asks for the methods used to assess certainty, and reports the result per outcome. It does not name a grading scale.
04 Report
- 10Review reportتۆمارThe guideline helps authors report why the review was done, what they did and what they found.
ReportsOutline of an externally published reporting guideline, not a Nexus process and not a record of operation. PRISMA 2020 mainly covers reviews of intervention effects. No Nexus page names it. Every programme is at service level R0.
09Stewardship
Who maintains the method.
جێگیریی دارایی stewards financial economics and macro-finance for the Consortium and reviews how it is applied across platforms.
10پەیوەست
ئەو شوێنانەی ئەم لاپەڕەیە لە ناو کۆنسۆرتیۆم بۆیان دەبات.
11پرسیارەکان
پرسیار و وەڵام.
What are the limits of financial economics and macro-finance in this field?
Relationships estimated in calm periods may break down in stress. Hidden leverage and interconnections are often unobserved.
How are results checked?
Models are back-tested against historical market episodes and crises. Results are compared with supervisory data and alternative specifications.
Are the values on this page real?
The data names, roles and checks are real descriptions of practice. The canvas shows a design of the method’s use, not a run; no result is reported here.
Where else is this method applied?
ئەو canonical method page lists every platform that applies it.
Reportsبەشداربە
لەم لاپەڕەیەوە بەڵگە پێشکەش بکە.
Reports is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.
Global Risks AllianceAsset Management Nexusئامادەیی دارایی و بیمەسیناریۆ و تاقیکردنەوەی گوشار
- ئیمەیڵGateway GW-GRAلەم لاپەڕەیەوە بینێرەبەڵگە، ڕاستکردنەوە، بابەت، ڕێگا، پێداچوونەوە، وەرگێڕان یان تێکردنی پڕۆفایل. بە نیشانەی ئەم لاپەڕەیە دەگات، بۆ ئەوەی دەستکاریکەری خاوەنەکەی وەریبگرێت.
- Zenodoتەکیەی کراوەدایبنێ و بیدە بە کۆمەڵگاتۆماری خۆت لە Zenodo بە ORCID iD ی خۆت بڵاو بکەرەوە، پاشان لەوێ بیدە بە کۆمەڵگای Reports. سەرپەرشتیارەکان پێداچوونەوەی بۆ دەکەن؛ DOI هەر هی تۆیە.
- ReportsGlobal Risks Allianceهەموو ڕێگاکانی بەشداری ببینەجۆرەکانی بەشداری، هەریەکە چۆن پێداچوونەوەی بۆ دەکرێت، چ ناوبردنێک وەردەگریت، مۆڵەتەکە و ئەوەی هەرگیز وەرناگیرێت.
هەرگیز داتای کەسی، وردەکاریی هەستیاری ژێرخان یان هیچ شتێک مەنێرە کە مافی بڵاوکردنەوەت نییە. بەشدارییەک پێش بەکارهێنان پێداچوونەوەی بۆ دەکرێت؛ ناردنی ماف نابەخشێت بە نووسەرایەتی یان بەڕێوەبردنی ڕاگەیاندن، و پاڵپشتی دارایی هەرگیز دۆزینەوەیەک ناکڕێت.
Asset Management Nexus
Bring an exposure or capital question to the Alliance.
زانیاری و پرسیار ئەمڕۆ کراوەن. پرسیارێک ژمارەی ئاماژەی پێدەدرێت و هەنگاوی دواتر دیاری دەکات؛ داواکاری، پارەدان، تەرخانکردنی کۆمپیوتەر و تۆمارکردن تەنیا کاتێک دەکرێنەوە کە تیم، مەرج و توانای پێداچوونەوەیان هەبێت.
یاسایی
بەڵگەنامە یاساییەکان.
نەخشە، داتا و وێنەکانی ئەم ماڵپەڕە بۆ ناوەڕۆک و زانیاریی گشتی پیشان دراون. ئامۆژگاری، پێشبینی یان ئاگادارکردنەوە نین؛ سنوورەکانی زانیارییەکە لە ڕەتکردنەوەی بەرپرسیارێتی و ئاگاداریی داتادا دەستنیشان کراون.