Risk Management: Foundations for a Changing Financial World

Table of Contents

 

Title Page

Copyright Page

Foreword

Acknowledgments

Introduction

 

PART I - OVERVIEW—TWO DECADES OF RISK MANAGEMENT

 

CHAPTER 1 - A FRAMEWORK FOR UNDERSTANDING MARKET CRISIS

 

SOURCES OF CRISIS

CASE STUDIES

LESSONS LEARNED

POLICY ISSUES

QUESTION AND ANSWER SESSION

 

CHAPTER 2 - PRACTICAL ISSUES IN CHOOSING AND APPLYING RISK MANAGEMENT TOOLS

 

EFFECTIVE RISK MANAGEMENT

DEFINING RISK

RISK MEASURES

BUY OR BUILD?

CONCLUSION

QUESTION AND ANSWER SESSION

NOTES

 

CHAPTER 3 - THE THREE P’S OF TOTAL RISK MANAGEMENT

 

THE THREE P’S

PRICES

PROBABILITIES

PREFERENCES

PUTTING THE THREE P’S TOGETHER

THE FUTURE OF RISK MANAGEMENT

ACKNOWLEDGMENTS

NOTES

REFERENCES

 

CHAPTER 4 - REPORTING AND MONITORING RISK EXPOSURE

 

THE RISK-MANAGEMENT SYSTEM

INCORPORATING RISK INTO THE INVESTMENT PROCESS

CONCLUSION

ACKNOWLEDGMENTS

QUESTION AND ANSWER SESSION

 

CHAPTER 5 - RISK MANAGEMENT: A REVIEW

 

FINANCIAL RISK OR FINANCIAL RISKS?

LESSONS FROM FINANCIAL DISASTERS

POPULAR RISK MEASURES FOR PRACTITIONERS

CREDIT RISK METHODOLOGIES

OPERATIONAL RISK

LIQUIDITY RISK

A NEW CLASSIFICATION OF RISK MEASURES

THE QUEST FOR AN INTEGRATED RISK MEASUREMENT

CONCLUSION

NOTES

REFERENCES

 

CHAPTER 6 - DEFINING RISK

 

FRANK KNIGHT

CRITIQUE OF KNIGHT’S DEFINITION

HARRY MARKOWITZ

UNCERTAINTY

EXPOSURE

RISK

OPERATIONAL DEFINITIONS

AN OPERATIONAL PERSPECTIVE ON RISK

CONCLUSION

NOTES

REFERENCES

 

CHAPTER 7 - VALUE AND RISK: BEYOND BETAS

 

RISK MANAGEMENT VS. RISK REDUCTION

RISK AND VALUE: CONVENTIONAL VIEW

EXPANDING ...