The Economic Foundations of Risk Management presents the theory, the practice, and applies this knowledge to provide a forensic analysis of some well-known risk management failures. By doing so, this book introduces a unified framework for understanding how to manage the risk of an individual's or corporation's or financial institution's assets and liabilities. The book is divided into five parts. The first part studies the markets and the assets and liabilities that trade therein. Markets are differentiated based on whether they are competitive or not, frictionless or not (and the type of friction), and actively traded or not. Assets are divided into two types: primary assets and financial derivatives. The second part studies models for determining the risks of the traded assets. Models provided include the Black-Scholes-Merton, the Heath-Jarrow-Morton, and the reduced form model for credit risk. Liquidity risk, operational risk, and trading constraint models are also contained therein. The third part studies the conceptual solution to an individual's, firm's, and bank's risk management problem. This formulation involves solving a complex dynamic programming problem that cannot be applied in practice. Consequently, Part IV investigates how risk management is actually done in practice via the use of diversification, static hedging, and dynamic hedging. Finally, Part V applies these collective insights to six case studies, which are famous risk management failures. These are Penn Square Bank, Metallgesellschaft, Orange County, Barings Bank, Long Term Capital Management, and Washington Mutual. The credit crisis is also discussed to understand how risk management failed for many institutions and why.
Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.
Frais de port :
Gratuit
Vers Etats-Unis
Frais de port :
EUR 2,36
Vers Etats-Unis
Vendeur : GF Books, Inc., Hawthorne, CA, Etats-Unis
Etat : Very Good. Book is in Used-VeryGood condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain very limited notes and highlighting. 0.84. N° de réf. du vendeur 9813149965-2-3
Quantité disponible : 1 disponible(s)
Vendeur : GreatBookPrices, Columbia, MD, Etats-Unis
Etat : New. N° de réf. du vendeur 27577970-n
Quantité disponible : 5 disponible(s)
Vendeur : Book Deals, Tucson, AZ, Etats-Unis
Etat : Very Good. Very Good condition. Shows only minor signs of wear, and very minimal markings inside (if any). 0.84. N° de réf. du vendeur 353-9813149965-vrg
Quantité disponible : 1 disponible(s)
Vendeur : Book Deals, Tucson, AZ, Etats-Unis
Etat : Fine. Like New condition. Great condition, but not exactly fully crisp. The book may have been opened and read, but there are no defects to the book, jacket or pages. 0.84. N° de réf. du vendeur 353-9813149965-lkn
Quantité disponible : 1 disponible(s)
Vendeur : Book Deals, Tucson, AZ, Etats-Unis
Etat : New. New! This book is in the same immaculate condition as when it was published 0.84. N° de réf. du vendeur 353-9813149965-new
Quantité disponible : 1 disponible(s)
Vendeur : Books Unplugged, Amherst, NY, Etats-Unis
Etat : New. Buy with confidence! Book is in new, never-used condition 0.84. N° de réf. du vendeur bk9813149965xvz189zvxnew
Quantité disponible : 1 disponible(s)
Vendeur : Book Deals, Tucson, AZ, Etats-Unis
Etat : Good. Good condition. This is the average used book, that has all pages or leaves present, but may include writing. Book may be ex-library with stamps and stickers. 0.84. N° de réf. du vendeur 353-9813149965-gdd
Quantité disponible : 1 disponible(s)
Vendeur : Books Unplugged, Amherst, NY, Etats-Unis
Etat : Fair. Buy with confidence! Book is in acceptable condition with wear to the pages, binding, and some marks within 0.84. N° de réf. du vendeur bk9813149965xvz189zvxacp
Quantité disponible : 1 disponible(s)
Vendeur : California Books, Miami, FL, Etats-Unis
Etat : New. N° de réf. du vendeur I-9789813149960
Quantité disponible : Plus de 20 disponibles
Vendeur : GreatBookPrices, Columbia, MD, Etats-Unis
Etat : As New. Unread book in perfect condition. N° de réf. du vendeur 27577970
Quantité disponible : 5 disponible(s)