Culp The Risk Management Process

Business Strategy and Tactics
1. Auflage 2002
ISBN: 978-0-471-15124-1
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 624 Seiten, E-Book

Reihe: Wiley Finance Editions

Integrates essential risk management practices with practicalcorporate business strategies
Focusing on educating readers on how to integrate riskmanagement with corporate business strategy-not just on hedgingpractices--The Risk Management Process is thefirst financial risk management book that combines a detailed, bigpicture discussion of firm-wide risk management with acomprehensive discussion of derivatives-based hedging strategiesand tactics.
An essential component of any corporate business strategy today,risk management has become a mainstream business process at thehighest level of the world's largest financial institutions,corporations, and investment management groups. Addressing the needfor a well-balanced book on the subject, respected leader andteacher on the subject Christopher Culp has produced awell-balanced, comprehensive reference text for a broad audience offinancial institutions and agents, nonfinancial corporations, andinstitutional investors.

Autoren/Hrsg.

Culp, Christopher L.

Inhaltsverzeichnis

Introduction.
RISK MANAGEMENT AND CORPORATE FINANCE.
The Nature of Risk.
Risk Aversion, Insurance, and Hedging.
The Irrelevance of Corporate Financing and Risk ManagementDecisions.
Increasing Expected Cash Flows or Reducing the Cost of Capital byManaging Risk.
Reducing Conflicts between Security Holders and Managers byManaging Risk.
Reducing Conflicts amongst Security Holders by Managing Risk.
Controlling and Exploiting Informational Asymmetries by ManagingRisk.
Value versus Cash Flow versus Earnings Risk Management.
Total versus Selective Risk Management.
RISK MANAGEMENT AND BUSINESS STRATEGY.
Risk Culture and Risk Management Business Models.
Integrating People, Technology, and Processes throughEnterprise-Wide Risk Management.
Identifying Market Risk Exposures and Defining RiskTolerances.
Spot, Forward, and Forward-Like Exposures.
Identifying Option, Option-Like, and Real Option Exposures.
Measuring and Monitoring Market Risk.
Identifying, Measuring, and Monitoring Credit Risk.
Identifying, Measuring, and Monitoring Liquidity Risk.
Identifying, Measuring, and Monitoring Operational Risk.
Identifying and Managing Legal Risk.
THE TACTICS OF RISK CONTROL.
Ex Ante Capital Allocation.
Ex Post Performance Measurement and Compensation.
Internal Controls.
Tactical Risk Control with Derivatives.
Tactical Risk Control through Actual and Synthetic AssetDivestitures.
Strategic Risk Control with Structured Liabilities.
Insurance and ART.
Notes.
Bibliography.
Index.

Über Autor(innen)

CHRISTOPHER L. CULP is Managing Director at CP Risk Management LLC in Chicago and is also Adjunct Associate Professor of Finance at the University of Chicago. A former president of Risk Management Consulting Services, Inc. and senior examiner in the Supervision and Regulation Department of the Federal Reserve Bank of Chicago, Dr. Culp is a managing editor of Derivatives Quarterly and Senior Fellow in Financial Regulation with the Competitive Enterprise Institute in Washington, DC. Dr. Culp holds a PhD in finance from the Graduate School of Business of the University of Chicago and a BA in economics from Johns Hopkins University.