文章基本信息

标题：Country risk at investing in capital markets – the case of Italy
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作者：Božena Chovancová ; Peter Árendáš ; Patrik Slobodník 等
期刊名称：Problems and Perspectives in Management
印刷版ISSN：1727-7051
电子版ISSN：1810-5467
出版年度：2019
卷号：17
期号：2
页码：440-448
DOI：10.21511/ppm.17(2).2019.34
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：Given the current turbulences on the European capital markets,as well as the expecta_x0002_tions of a new recession,it is possible to expect that the risk of individual countries and their capital markets will increase significantly.This is particularly the case of those countries,which have long-term problems with economic instability and imbalances.The basis for country risk quantification is the country credit rating and credit risk of the government bonds.The market-based methods react often differently,as their re?actions to the actual market developments are more flexible.The purpose of this paper is to compare various methods of country risk measurement.The study is focused on the country risk of Italy,a country that experienced a turbulent economic development over the last two decades.The results show that the CPFER method and sovereign ratings show a similar level of country risk,while the market-based methods show a higher level of country risk.
关键词：Given the current turbulences on the European capital markets,as well as the expecta_x0002_tions of a new recession,it is possible to expect that the risk of individual countries and their capital markets will increase significantly.This is particularly the case of those countries,which have long-term problems with economic instability and imbalances.The basis for country risk quantification is the country credit rating and credit risk of the government bonds.The market-based methods react often differently,as their re?actions to the actual market developments are more flexible.The purpose of this paper is to compare various methods of country risk measurement.The study is focused on the country risk of Italy,a country that experienced a turbulent economic development over the last two decades.The results show that the CPFER method and sovereign ratings show a similar level of country risk,while the market-based methods show a higher level of country risk.