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Operational risks are increasingly prevalent and complex to manage in organisations, culminating in substantial financial and non-financial costs. Given the inefficiencies and biases of traditional manual, static and qualitative risk management practices, research has progressed to using data analytics to objectively and dynamically manage risks. However, the variety of operational risks, techniques and objectives researched is not well mapped across industries. This paper thoroughly reviews the emerging research area applying data analytics to operational risk management (ORM) within financial services (FS) and energy and natural resources (ENR). A systematic literature search resulted in 2,538 publications, from which detailed bibliometric and content analyses are performed on 191 studies of relevance. The literature is classified using a novel multi-layered framework, informing critical analyses of the analytics techniques and data employed. Five core themes emerge, relevant to practitioners, researchers, educators and students across any sector: risk identification, causal factors, risk quantification, risk prediction and risk decision-making. Generally, ENR studies focus on identifying causal factors and predicting specific incidents, whereas FS applications are more mature surrounding risk quantification. To conclude, the comprehensive review reveals areas where further research is needed to advance ORM within and beyond FS and ENR, in pursuit of improved decision-making. [ABSTRACT FROM AUTHOR]

Consumption behaviour and financial literacy are primary factors in determining the financial well‐being of retirees. This paper uses an existing financial literacy index to examine how financial literacy directly, and via an interaction with consumption patterns, affects elderly Australians' financial well‐being. We find that most elderly Australians hold an optimistic attitude towards their financial situation, and those who are relatively older, more educated, healthier and outright homeowners are more likely to report higher levels of financial well‐being. Financial literacy significantly improves financial well‐being. It also helps strengthen the positive effects of meeting more of non‐essential consumption needs on financial well‐being. [ABSTRACT FROM AUTHOR]

Financial illiteracy is widespread amongst the elderly. Financially illiterate people are more likely to experience asset loss and outlive their savings after retirement. This paper measures financial literacy of elderly Australians using Item Responses Theory. Using a Lasso regression, we find that younger, married males with higher income and greater net wealth are more likely to be financially literate. Better financial literacy is also associated with good health, higher educational attainment, better occupation and outright home ownership. Our findings suggest policy‐makers take action and we make informed and practicable policy recommendations. [ABSTRACT FROM AUTHOR]

This paper assesses the performance of momentum strategies in Australia, and how they were affected by the GFC. This paper is the first to address the issue of the dollar capacity of momentum strategies in the Australian market. We find evidence of a strong momentum effect in Australia amongst the S&P/ ASX200 constituents. We find that momentum portfolios suffered during the GFC, but the effect was not persistent. Finally, we show that the capacity of the momentum effect in Australia is large enough in dollar terms to reject the assertion that momentum is more of a theoretical than a practical construct. [ABSTRACT FROM AUTHOR]