... to the relevant contractual parties (Zhang et al., 2016). Risk allocation is the process of transferring risks from one party to another through contractual terms (Zhang et al., 2016). Risks should be allocated to the party that can assess, control and bear those risks (Iqbal et al...

... into the consideration of optimal risk allocation strategies. Design/methodology/approach Based on an extensive literature review and an examination of the purchasing power parity (PPP) market, an industry‐wide questionnaire survey was conducted to collect the data for a confirmatory factor analysis. Necessary...