Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Essays On Corporate Risk Management
Download Essays On Corporate Risk Management full books in PDF, epub, and Kindle. Read online Essays On Corporate Risk Management ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Essays on Corporate Risk Governance by : Mr. Gaizka Ormazabal Sanchez
Download or read book Essays on Corporate Risk Governance written by Mr. Gaizka Ormazabal Sanchez and published by Stanford University. This book was released on 2011 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation comprises three papers on the governance of corporate risk: 1. The first paper investigates the role of organizational structures aimed at monitoring corporate risk. Proponents of risk-related governance structures, such as risk committees or Enterprise Risk Management (ERM) programs, assert that risk monitoring adds value by ensuring that corporate risks are managed. An alternative view is that such governance structures are nothing more than window-dressing created in response to regulatory or public pressure. Consistent with the former view, I find that, in the period between 2000 and 2006, firms with more observable risk oversight structures exhibit lower equity and credit risk than firms with fewer or no observable risk oversight structures. I also provide evidence that firms with more observable risk oversight structures experienced higher returns during the worst days of the 2007-2008 financial crisis and were less susceptible to market fluctuations than firms with fewer or no observable risk oversight structures. Finally, I find that firms without observable risk oversight structures experienced higher abnormal returns to recent legislative events relating to risk management than firms with observable risk oversight structures. 2. The most common empirical measure of managerial risk-taking incentives is equity portfolio vega (Vega), which is measured as the dollar change in a manager's equity portfolio for a 0.01 change in the standard deviation of stock returns. However, Vega exhibits at least three undesirable features. First, Vega is expressed as a dollar change. This implicitly assumes that managers with identical Vega have the same incentives regardless of differences in their total equity and other wealth. Second, the small change in the standard deviation of returns used to calculate Vega (i.e., 0.01) yields a very local approximation of managerial risk-taking incentives. If an executive's expected payoff is highly nonlinear over the range of potential stock price and volatility outcomes, a local measure of incentives is unlikely to provide a valid assessment of managerial incentives. Third, Vega is measured as the partial derivative of the manager's equity portfolio with respect to return volatility. This computation does not consider that this partial derivative also varies with changes in stock price. The second paper develops and tests a new measure of managerial risk-taking equity incentives that adjusts for differences in managerial wealth, considers more global changes in price and volatility, and explicitly considers the impact of stock price and volatility changes. We find that our new measure exhibits higher explanatory power and is more robust to model specification than Vegafor explaining a wide range of measures of risk-taking behavior. 3. The third paper examines the relation between shareholder monitoring and managerial risk-taking incentives. We develop a stylized model to show that shareholder monitoring mitigates the effect of contractual risk-taking incentives on the manager's actions. Consistent with the model, we find empirically that the positive association between the CEO's contractual risk-taking incentives and risk-taking behavior decreases with the level of shareholder monitoring. Furthermore, consistent with the board anticipating and optimally responding to shareholder monitoring, boards of firms exposed to more intense monitoring design compensation contracts that provide higher incentives to take risks. Overall, our results suggest that, when evaluating risk-taking incentives provided by a compensation contract, it is important to account for the firm's monitoring environment.
Download or read book Riskwork written by Michael Power and published by Oxford University Press. This book was released on 2016 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays deals with the situated management of risk in a wide variety of organizational settings - aviation, mental health, railway project management, energy, toy manufacture, financial services, chemicals regulation, and NGOs. Each chapter connects the analysis of risk studies with critical themes in organization studies more generally based on access to, and observations of, actors in the field. The emphasis in these contributions is upon the variety of ways in which organizational actors, in combination with a range of material technologies and artefacts, such as safety reporting systems, risk maps and key risk indicators, accomplish and make sense of the normal work of managing risk - riskwork. In contrast to a preoccupation with disasters and accidents after the event, the volume as whole is focused on the situationally specific character of routine risk management work. It emerges that this riskwork is highly varied, entangled with material artefacts which represent and construct risks and, importantly, is not confined to formal risk management departments or personnel. Each chapter suggest that the distributed nature of this riskwork lives uneasily with formalized risk management protocols and accountability requirements. In addition, riskwork as an organizational process makes contested issues of identity and values readily visible. These 'back stage/back office' encounters with risk are revealed as being as much emotional as they are rationally calculative. Overall, the collection combines constructivist sensibilities about risk objects with a micro-sociological orientation to the study of organizations.
Author :Organization for Economic Cooperation and Development Publisher :OCDE ISBN 13 :9789264208629 Total Pages :0 pages Book Rating :4.2/5 (86 download)
Book Synopsis Risk Management and Corporate Governance by : Organization for Economic Cooperation and Development
Download or read book Risk Management and Corporate Governance written by Organization for Economic Cooperation and Development and published by OCDE. This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland. The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The reports thus concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.
Book Synopsis Enterprise Risk Analysis for Property & Liability Insurance Companies by : Paul J. Brehm
Download or read book Enterprise Risk Analysis for Property & Liability Insurance Companies written by Paul J. Brehm and published by Guy Carpenter & Company C2007. This book was released on 2007 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Enterprise Risk Management by : John R. S. Fraser
Download or read book Enterprise Risk Management written by John R. S. Fraser and published by John Wiley & Sons. This book was released on 2010-01-07 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essential insights on the various aspects of enterprise risk management If you want to understand enterprise risk management from some of the leading academics and practitioners of this exciting new methodology, Enterprise Risk Management is the book for you. Through in-depth insights into what practitioners of this evolving business practice are actually doing as well as anticipating what needs to be taught on the topic, John Fraser and Betty Simkins have sought out the leading experts in this field to clearly explain what enterprise risk management is and how you can teach, learn, and implement these leading practices within the context of your business activities. In this book, the authors take a broad view of ERM, or what is called a holistic approach to ERM. Enterprise Risk Management introduces you to the wide range of concepts and techniques for managing risk in a holistic way that correctly identifies risks and prioritizes the appropriate responses. This invaluable guide offers a broad overview of the different types of techniques: the role of the board, risk tolerances, risk profiles, risk workshops, and allocation of resources, while focusing on the principles that determine business success. This comprehensive resource also provides a thorough introduction to enterprise risk management as it relates to credit, market, and operational risk, as well as the evolving requirements of the rating agencies and their importance to the overall risk management in a corporate setting. Filled with helpful tables and charts, Enterprise Risk Management offers a wealth of knowledge on the drivers, the techniques, the benefits, as well as the pitfalls to avoid, in successfully implementing enterprise risk management. Discusses the history of risk management and more recently developed enterprise risk management practices and how you can prudently implement these techniques within the context of your underlying business activities Provides coverage of topics such as the role of the chief risk officer, the use of anonymous voting technology, and risk indicators and their role in risk management Explores the culture and practices of enterprise risk management without getting bogged down by the mathematics surrounding the more conventional approaches to financial risk management This informative guide will help you unlock the incredible potential of enterprise risk management, which has been described as a proxy for good management.
Book Synopsis The Social and Cultural Construction of Risk by : B.B. Johnson
Download or read book The Social and Cultural Construction of Risk written by B.B. Johnson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Social and Cultural Construction of Risk: Issues, Methods, and Case Studies Vincent T. Covello and Branden B. Johnson Risks to health, safety, and the environment abound in the world and people cope as best they can. But before action can be taken to control, reduce, or eliminate these risks, decisions must be made about which risks are important and which risks can safely be ignored. The challenge for decision makers is that consensus on these matters is often lacking. Risks believed by some individuals and groups to be tolerable or accept able - such as the risks of nuclear power or industrial pollutants - are intolerable and unacceptable to others. This book addresses this issue by exploring how particular technological risks come to be selected for societal attention and action. Each section of the volume examines, from a different perspective, how individuals, groups, communities, and societies decide what is risky, how risky it is, and what should be done. The writing of this book was inspired by another book: Risk and Culture: An Essay on the Selection of Technoloqical and Environmental Dangers. Published in 1982 and written by two distinguished scholars - Mary Douglas, a British social anthropologist, and Aaron Wildavsky, an American political scientist - the book received wide critical attention and offered several provocative ideas on the nature of risk selection, perception, and acceptance.
Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Book Synopsis Essays in Corporate Risk Management by : Aziz A. Lookman
Download or read book Essays in Corporate Risk Management written by Aziz A. Lookman and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Routledge Companion to Strategic Risk Management by : Torben Andersen
Download or read book The Routledge Companion to Strategic Risk Management written by Torben Andersen and published by Routledge. This book was released on 2015-12-22 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing risk in and across organizations has always been of vital importance, both for individual firms and for the globalized economy more generally. With the global financial crisis, a dramatic lesson was learnt about what happens when risk is underestimated, misinterpreted, or even overlooked. Many possible solutions have been competing for international recognition, yet, there is little empirical evidence to support the purported effectiveness of these regulations and structured control approaches, which leaves the field wide open for further interpretation and conceptual development. This comprehensive book pulls together a team of experts from around the world in a range of key disciplines such as management, economics and accounting, to provide a comprehensive resource detailing everything that needs to be known in this emerging area. With no single text currently available, the book fills a much needed gap in our current understanding of strategic risk management, offering the potential to advance research efforts and enhance our approaches to effective risk management practices. Edited by a globally recognized expert on strategic risk management, this book will be an essential reference for students, researchers, and professionals with an interest in risk management, strategic management and finance.
Book Synopsis Risk Management, 2 Volume Set by : Gerald Mars
Download or read book Risk Management, 2 Volume Set written by Gerald Mars and published by Routledge. This book was released on 2021-03-01 with total page 1194 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2000, Risk Management is a two volume set, comprised of the most significant and influential articles by the leading authorities in the studies of risk management. The volumes includes a full-length introduction from the editor, an internationally recognized expert, and provides an authoritative guide to the selection of essays chosen, and to the wider field itself. The collections of essays are both international and interdisciplinary in scope and provide an entry point for investigating the myriad of study within the discipline.
Download or read book Risk Management written by Gerald Mars and published by Routledge. This book was released on 2019-04-08 with total page 605 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2000, Risk Management is a two volume set, comprised of the most significant and influential articles by the leading authorities in the studies of risk management. The volumes includes a full-length introduction from the editor, an internationally recognized expert, and provides an authoritative guide to the selection of essays chosen, and to the wider field itself. The collections of essays are both international and interdisciplinary in scope and provide an entry point for investigating the myriad of study within the discipline.
Book Synopsis Risk Management by : Michael Frenkel
Download or read book Risk Management written by Michael Frenkel and published by Springer Science & Business Media. This book was released on 2005-12-06 with total page 842 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dealing with all aspects of risk management that have undergone significant innovation in recent years, this book aims at being a reference work in its field. Different to other books on the topic, it addresses the challenges and opportunities facing the different risk management types in banks, insurance companies, and the corporate sector. Due to the rising volatility in the financial markets as well as political and operational risks affecting the business sector in general, capital adequacy rules are equally important for non-financial companies. For the banking sector, the book emphasizes the modifications implied by the Basel II proposal. The volume has been written for academics as well as practitioners, in particular finance specialists. It is unique in bringing together such a wide array of experts and correspondingly offers a complete coverage of recent developments in risk management.
Book Synopsis Essays in Derivatives by : Don M. Chance
Download or read book Essays in Derivatives written by Don M. Chance and published by John Wiley & Sons. This book was released on 2011-07-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the updated second edition of Don Chance’s well-received Essays in Derivatives, the author once again keeps derivatives simple enough for the beginner, but offers enough in-depth information to satisfy even the most experienced investor. This book provides up-to-date and detailed coverage of various financial products related to derivatives and contains completely new chapters covering subjects that include why derivatives are used, forward and futures pricing, operational risk, and best practices.
Book Synopsis Insurance, Risk Management, and Public Policy by : Sandra G. Gustavson
Download or read book Insurance, Risk Management, and Public Policy written by Sandra G. Gustavson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five years ago the world lost one of its most prolific insurance scholars, Dr. Robert I. Mehr. His death in 1988 signalled the passing of not only a gifted writer and researcher, but also a pioneering teacher, mentor, and friend. The essays compiled within this volume are intended as an appropriate tribute to this occasionally outrageous individual who touched the lives of so many within the insurance community. Bob Mehr was a teacher who expected and demanded nothing less than perfect scholarship and flawless, efficient writing. Among alumni of the University of lllinois insurance doctoral program, stories still abound of late night and early morning sessions in which students and professor painstakingly debated precise words and phrases for dissertations, journal articles, and textbooks. Bob's respect for language was both immense and contagious, if at times more than a little compulsive. He joked that he could not read letters or novels without pencil in hand for editing. Bob's respect for his doctoral students was equally evident. The confidence he displayed in his students' abilities was sometimes startling, but "competence assumed" often begot "competence in fact." The accomplishments and records amassed by the many who studied with Bob Mehr are impressive and ongoing. On the dedication page in his final textbook, Fundamentals of Insurance, Bob spoke of his affection for those he called his "academic progeny" and wished them happiness as they build their own academic families.
Book Synopsis Corporate Foreign Exchange Risk Management by : Lars Oxelheim
Download or read book Corporate Foreign Exchange Risk Management written by Lars Oxelheim and published by John Wiley & Sons. This book was released on 2020-02-03 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical and accessible guide that demystifies ForEx risk for managers in all areas of business Virtually any organisation active in the global economy is impacted by fluctuations in foreign exchange (FX or ForEx) markets. Managers need to understand this increasingly complex issue and measure their firm’s exposure to risk. Corporate Foreign Exchange Risk Management is an in-depth yet accessible guide on effective ForEx exposure management. Designed for professionals responsible for managing a profit & loss or balance sheet influenced by ForEx fluctuations, it enables risk managers to navigate the interconnected worlds of financial management and economics. This innovative guide integrates academic discussion of the economics of risk management decisions and pragmatic advice for various situations in which performance measures affected by accounting standards are paid considerable attention. Readers are provided with the tools and knowledge required to handle a broad range of issues related to ForEx risk management. Clear, non-technical chapters demystify concepts that often appear complicated and confusing to managers. Written by globally-recognised experts in corporate finance, risk management and international business, this book: Employs a reader-friendly narrative style to explain complex concepts Provides a clear, actionable risk management strategy which can be used in a variety of businesses Places all concepts in relatable, real-world contexts Explains important academic research to practitioners in plain English Includes effective pedagogical tools and explanations, straightforward examples and end-of-chapter summaries which highlight key points Corporate Foreign Exchange Risk Management is a must-read for any manager who deals with corporate exposure to ForEx risk, as well as analysts wishing to better understand the relation between corporate performance and ForEx fluctuations and students of corporate risk management.
Book Synopsis Corporate Risk Management by : Georges Dionne
Download or read book Corporate Risk Management written by Georges Dionne and published by John Wiley & Sons. This book was released on 2019-04-30 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated review of the theories and applications of corporate risk management After the financial crisis of 2008, issues concerning corporate risk management arose that demand new levels of oversight. Corporate Risk Management is an important guide to the topic that puts the focus on the corporate finance dimension of risk management. The author—a noted expert on the topic—presents several theoretical models appropriate for various industries and empirically verifies theoretical propositions. The book also proposes statistical modeling that can evaluate the importance of different risks and their variations according to economic cycles. The book provides an analysis of default, liquidity, and operational risks as well as the failures of LTCM, ENRON, and financial institutions that occurred during the financial crisis. The author also explores Conditional Value at Risk (CVaR), which is central to the debate on the measurement of market risk under Basel III. This important book: Includes a comprehensive review of the aspects of corporate risk management Presents statistical modeling that addresses recent risk management issues Contains an analysis of risk management failures that lead to the 2008 financial crisis Offers a must-have resource from author Georges Dionne the former editor of The Journal of Risk and Insurance Corporate Risk Management provides a modern empirical analysis of corporate risk management across industries. It is designed for use by risk management professionals, academics, and graduate students.
Book Synopsis On the Interaction Among Corporate Risk Management, Dividend Policy and Capital Structure by : Michael P. Ross
Download or read book On the Interaction Among Corporate Risk Management, Dividend Policy and Capital Structure written by Michael P. Ross and published by . This book was released on 1998 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
