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Specifically, it discusses the Benford\u2019s law as a decision support device for financial investments. In particular, we illustrate the role of such a property of financial data as risk predictor for financial markets. First of all, we show empirical evidence of accordance between data on market index daily returns and Benford\u2019s law. Then, we highlight that on short time period (1 year) the deviations from Benford\u2019s law are related to low risk and positive trend periods; the <jats:italic>p<\/jats:italic> value of the <jats:inline-formula><jats:alternatives><jats:tex-math>$$\\chi ^2$$<\/jats:tex-math><mml:math xmlns:mml=\"http:\/\/www.w3.org\/1998\/Math\/MathML\">\n                  <mml:msup>\n                    <mml:mi>\u03c7<\/mml:mi>\n                    <mml:mn>2<\/mml:mn>\n                  <\/mml:msup>\n                <\/mml:math><\/jats:alternatives><\/jats:inline-formula> test against the Benford\u2019s distribution displays some predicting power for the market average return and risk level.<\/jats:p>","DOI":"10.1007\/s10479-022-04742-z","type":"journal-article","created":{"date-parts":[[2022,5,23]],"date-time":"2022-05-23T16:04:44Z","timestamp":1653321884000},"page":"1445-1469","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":11,"title":["Statistical methods for decision support systems in finance: how Benford\u2019s law predicts financial risk"],"prefix":"10.1007","volume":"342","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-1871-7371","authenticated-orcid":false,"given":"Roy","family":"Cerqueti","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Mario","family":"Maggi","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Jessica","family":"Riccioni","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"297","published-online":{"date-parts":[[2022,5,23]]},"reference":[{"issue":"1","key":"4742_CR1","doi-asserted-by":"crossref","first-page":"136","DOI":"10.1016\/j.jbankfin.2011.06.014","volume":"36","author":"RM Abrantes-Metz","year":"2012","unstructured":"Abrantes-Metz, R. 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