Risk assessment Books

Book SynopsisThis book will serve as a practical guide for entrepreneurs and investors/advisors in constructing and understanding valuations of startups in rapidly shifting industries, including the areas of drug development, medical devices, cyber security, and renewable energy. For large companies, valuation is based on forecasts of free cash flow; in technologically-driven industries, product pipelines can represent a large part of market capitalization. The situation is even more critical for small companies committed to a single idea: all of their value is linked to a single project. Any business transaction or internal proposal to begin or terminate an R&D project in which innovative projects are being valued or exchanged requires a realistic valuation of those projects. Moreover, different projects have very different dynamics. Pharmaceuticals have very large lead times and are dependent on patents as well as out-licensing agreements. In contrast, software develops very quickly, and IP is hard to value. This book will be a guide to building appropriate valuations for companies competing in rapidly shifting industries and offering products under new business models where little precedent exists, taking both financial and behavioral issues into consideration.Table of ContentsPart I A Short Overview of Valuations 1 Introduction 2 Understanding Financial Valuations: Foundations and Basic Traditional Techniques Part II Overcoming Valuation Hurdles: How to Conduct Valuations Under Unique Circumstances 3 Understanding the Basic Elements of Stockholder Statements and Their Use in Valuations 4 Valuation Methods: The First Chicago Venture Method and the Use of Real Options Part III Behavioral Factors: How Psychology Affects Bias in Valuations 5 Introduction to Behavioral Finance​ 6 An Overview of Investor Behavior in Financial Markets and Psychological Influences on Valuations7 How to Overcome Investor Behavior and Psychological Influences in Valuations: How to Evaluate a Dream? Part IV An Introduction to Valuations in R&D- Intensive Industries 8 The Pharmaceutical Sector 9 Life Sciences: Disrupting Biologic Drugs Manufacturing 10 An Overview of the Cybersecurity and the Renewable Energy SectorsPart V Actual Valuations 11 Company A: Pharmaceutical/New Compounds 12 Company B: Pharmaceutical/Biologics 13 Company C: Cybersecurity14 Company D: Renewable Energy 15 ConclusionAppendix A: Capitalization Rate for Renewable Energy Firms Appendix B: Capitalization Rate for Software Firms Index

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Book SynopsisThis book uses relatable case studies to dispense practical financial advice to educators. Written by an expert team of four award-winning economics educators, the book provides an engaging narrative specifically designed for teachers and their unique financial needs. Educators are attracted to the teaching profession for numerous reasons. Prospective teachers enter the profession believing it offers a certain level of job security and good benefits, usually including a defined-benefit, state-funded pension. But things are changing. Pensions vary widely from state to state and even within school districts. Many private schools do not offer even basic 403(b) saving plans and, when they do, they are often not very generous. Much the same can be said of many charter schools and private colleges and universities. The book consists of fourteen chapters covering a comprehensive group of topics specifically curated for educators teaching at the K-12 and university level, including saving for retirement, managing debt, investment strategies, and real estate. Each chapter begins with a case study of an educator in a specific financial situation, which sets the scene for the introduction and explanation of key concepts. The chapters include a Q&A section to address common questions and conclude with a “Financial 911” focusing on a financial emergency related to the chapter topic. Table of ContentsChapter 1: Yes, Teachers Can Be Financially Fit.- Chapter 2: Spending and Saving: A Guide for Teachers.- Chapter 3: Earning Extra Income.- Chapter 4: Teachers’ Wheels: Cars and Transportation.- Chapter 5: Walls and a Roof: Housing for Teachers.- Chapter 6: Managing Credit and Debt.- Chapter 7: Investment Basics for Teachers.- Chapter 8: Retirement for Public School Teachers.- Chapter 9: Saving for Retirement: Options for Charter and Private School Teachers.- Chapter 10: The Higher Education Connection.- Chapter 11: Educators and Insurance.- Chapter 12: Unconventional Risk Management.- Chapter 13: Teachers in a Market Economy.- Chapter 14. Don’t Keep It a Secret.

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Book SynopsisThis book reviews the latest methods of sustainable investing and financial profit making and describes how ESG (Environmental, Social, Governance) analysis can identify future business opportunities and manage risk to achieve abnormal returns. Megatrends such as climate change, sustainable development and digitalisation increase uncertainty and information asymmetry and have an impact on the future returns on investments. From a profit perspective, it is largely about how ESG factors affect the long-term value added by companies and the valuation of companies in the financial markets. Although sustainability provides an opportunity for abnormal returns, this phenomenon must be considered in a critical light. The book describes the risks and limitations associated with the accountability and availability of ESG data and tools. This book provides both academic findings and practical models for assessing the sustainability of investees and introduces practical tools and methods to make ESG analysis practice. It focuses on the ESG analysis of equity investments and fund investments in institutional investment organizations and provides a handbook for all investment analysts who are involved with investment decisions. Readers will benefit from understanding the methods, opportunities and challenges that professionals use in their ESG analysis with cases, interviews and practical tools for both institutional and private investors. Trade Review“An excellent book to start with. … Filled with useful case studies on companies and investors, the book discusses relevant recent trends, initiatives and approaches. The reader comes away with useful possibilities to consider … . These case studies are explicitly detailed and applicable for readers, making the book a valuable resource on its own. … Silvola and Landau examine this well, especially from a public equity perspective, in a clear and concise manner … .” (Cary Krosinsky, responsible-investor.com, September 22, 2021)“This book provides both academic findings and practical models for assessing the sustainability of investees and introduces practical tools and methods to make ESG analysis practice. It … provides a handbook for all investment analysts who are involved with investment decisions. Readers will benefit from understanding the methods, opportunities and challenges that professionals use in their ESG analysis with cases, interviews and practical tools for both institutional and private investors.” (investesg.eu, September 14, 2021)Table of ContentsPart I. Basics of Sustainable Investing.- Chapter 1. Motivation for Sustainable Investing – What Is the Purpose? .- chapter 2. Methods of Sustainable Investing.- Part II. Engaging with Investees.- Chapter 3. Active Ownership.- Part III. Sustainability in Investment Analysis.- Chapter 4. Sustainability as Part of Qualitative Analysis.- Chapter 5. ESG Analysis Tools for Assessing Listed Shares.- Chapter 6. Sustainability of Various Investment Products.- Part IV. The Link between Sustainability and Returns.- Chapter 7. The Nordic Perspective on Integrating ESG.- Chapter 8. Is Sustainable Investing Profitable?.- Chapter 9. What Is the Profitability of Sustainability Based on?.- Part V. Sustainability Trends and the Future of ESG.- Chapter 10. Changes in International Politics and Legislation.- Chapter 11. Sustainability Trends and International Frameworks.- Chapter 12. Global Investment Trends and Impacts on Sustainable Investing.

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Book SynopsisThis book aims to clarify the priorities of the Sendai Framework for the DRR 2015 – 2030, through gathering recent contributions addressing the different ways researchers define, measure, reduce, and manage risk in the challenge of the DRR. Beyond a discussion of the different definitions of disaster risk; this book provides contributions focused on optimization approaches that support the decision-making process in the challenge of managing DRR problems considering emerging disaster risks in the medium and long term, as well as national and local applications. Some of the topics covered include network flow problems, stochastic optimization, discrete optimization, multi-objective programming, approximation techniques, and heuristic approaches.The target audience of the book includes professionals who work in Linear Programming, Logistics, Optimization (Mathematical, Robust, Stochastic), Management Science, Mathematical Programming, Networks, Scheduling, Simulation, Supply Chain Management, Sustainability, and similar areas. It can be useful for researchers, academics, graduate students, and anyone else doing research in the fieldTable of Contents

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Book SynopsisThis book guides human resource managers and professionals on how to manage organizations and its employees through bankruptcy and organizational change. While many books on bankruptcy are written from the perspective of bankruptcy attorneys and bankers, this book focuses on the employee communication and organizational aspects of bankruptcy from an HR and C-Suite perspective. It provides a deep understanding of the impact of bankruptcy on organizations and how to manage communication and employee engagement during this transition. The book also provides valuable and practical checklists and templates for employee communiqués, frequently asked questions, and preparing court-ordered information.Table of ContentsChapter 1. Types of Corporate Bankruptcies.- Chapter 2. Understanding How the Company Got Here and the Importance of Employee Engagement.- Chapter 3. Creating an Effective Employee Retention Plan.- Chapter 4. A Bankruptcy’s Effect on Benefits and the Barrage of Information Requests.- Chapter 5. Embarking on Change.- Chapter 6. Bold Communication.- Chapter 7. Bold Leadership.- Chapter 8. Be Mindful of You.- Chapter 9. Lessons Learned.- Chapter 10. Some Final Thoughts.

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Book SynopsisThis book guides human resource managers and professionals on how to manage organizations and its employees through bankruptcy and organizational change. While many books on bankruptcy are written from the perspective of bankruptcy attorneys and bankers, this book focuses on the employee communication and organizational aspects of bankruptcy from an HR and C-Suite perspective. It provides a deep understanding of the impact of bankruptcy on organizations and how to manage communication and employee engagement during this transition. The book also provides valuable and practical checklists and templates for employee communiqués, frequently asked questions, and preparing court-ordered information.Table of ContentsChapter 1. Types of Corporate Bankruptcies.- Chapter 2. Understanding How the Company Got Here and the Importance of Employee Engagement.- Chapter 3. Creating an Effective Employee Retention Plan.- Chapter 4. A Bankruptcy’s Effect on Benefits and the Barrage of Information Requests.- Chapter 5. Embarking on Change.- Chapter 6. Bold Communication.- Chapter 7. Bold Leadership.- Chapter 8. Be Mindful of You.- Chapter 9. Lessons Learned.- Chapter 10. Some Final Thoughts.

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Book SynopsisLarge projects are defining moments for companies and countries. When large projects succeed, they can dramatically improve the social and economic conditions in a region. This book focuses on major aspects of the world’s largest infrastructural, industrial and public service projects through the lens of structuring, valuing, managing risk and financing projects. The book analyses and discuss large projects in government, private and public and private partnership. The author sheds light into the attributes of project finance which have unique structural elements. The book focuses on case studies related to 50 mega projects which includes infrastructural projects, energy related projects, industrial projects, roads, ports and bridges among others. This book covers both the theoretical aspects of financing of mega projects and the practical applications by including case studies of the world’s largest projects in terms of value.Table of ContentsChapter 1. Trends in Infrastructure Industry.- Chapter 2. Infrastructure Financing Instruments.- Chapter 3. Risks inherent in Project Finance and its mitigation.- Chapter 4. Structuring and Implementation of the Project.- Chapter 5. The Chuo Shinkansen Project, Japan.- Chapter 6. Developing the World’s Largest Passenger Aircraft- Airbus A3XX.- Chapter 7. South North Water Transfer Project China.- Chapter 8. Dubailand Project.- Chapter 9. International Space Station.- Chapter 10. Al Maktoum International Airport.- Chapter 11. California High Speed Rail Project.- Chapter 12. London Cross Rail Project.- Chapter 13. Beijing Daxing International Airport.- Chapter 14. Jubail II Industrial City.- Chapter 15. Hong Kong Zhuhai Macao Bridge (HZMB).- Chapter 16. Gotthard Base Tunnel (GBT).- Chapter 17. Channel Tunnel UK.- Chapter 18. Doha Metro.- Chapter 19. Panama Canal Expansion.- Chapter 20. Three Gorges Dam.- Chapter 21. One World Trade Center.- Chapter 22. Making of the tallest building -Burj Khailfa.- Chapter 23. Shanghai World Financial Center.- Chapter 24. Dolphin Gas Project.- Chapter 25. Bhadla Solar Park.- Chapter 26. Tengger Solar Park Project China.- Chapter 27. Millau Viaduct.- Chapter 28. Jiaozhou Bay Bridge Project.- Chapter 29. Trans-Siberian Railway Project.- Chapter 30. Pan-American Highway.- Chapter 31. Port of Shanghai.- Chapter 32. Sakhalin Project –II.- Chapter 33. Ichthys LNG Project.- Chapter 34. Kashagan Oil Field Development Project.- Chapter 35. Barzan gas project.- Chapter 36. Australian Japan Cable.- Chapter 37. Addis Ababa–Djibouti Railway.- Chapter 38. Port Mann Bridge Vancouver.- Chapter 39. Chernobyl New Safe Confinement Project.- Chapter 40. Kashiwazaki Kariwa Nuclear Project Japan.- Chapter 41. Kudankulam Nuclear Power Plant, India.- Chapter 42. Boundary Dam Power Station.- Chapter 43. Boeing 787 Dreamliner Project.- Chapter 44. Shanghai Metro.- Chapter 45. São Francisco River Basin Project.- Chapter 46. Kazan Smart City Project.- Chapter 47. Masdar City.- Chapter 48. Delhi Mumbai Industrial Corridor Project.- Chapter 49. Golden Quadrilateral Highway, India.- Chapter 50. Hong Kong Disney Land Project.- Chapter 51. Jamnagar Refinery Project, India.- Chapter 52. Big Dig Project.- Chapter 53. North-South Corridor Road/Rail Project.- Chapter 54. Great Man Made River Water Supply Project, Libya.

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Book SynopsisThis open access book addresses the future of work and industry by 2040—a core interest for many disciplines inspiring a strong momentum for employment and training within the industrial world. The future of industrial safety in terms of technological risk-management, although of obvious concern to international actors in various industries, has been quite sparsely addressed. This brief reflects the viewpoints of experts who come from different academic disciplines and various sectors such as oil and gas, energy, transportation, and the digital and even the military worlds, as expressed in debates and discussions during a two-day international seminar. The contributors address such questions as: What influence will ageing and lack of digital skills in the workforce of the occidental world have on safety culture? What are the likely impacts of big data, artificial intelligence and autonomous technologies on decision-making, and on the roles and responsibilities of individual actors and whole organizations? What role have human beings in a world of accelerating changes? What effects will societal concerns and the entrance of new players have on technological risk management and governance? Managing Future Challenges for Safety will interest and influence researchers considering the future effects of a number of currently developing technologies and their practitioner counterparts working in industry and regulation.Table of Contents1. Times are Changing and So Is Safety.- 2. 50+-Year Career in Company: How to Tackle Issues in Prolonged Worker Careers.- 3. Senior Mentoring: Skill Transfer Subject to Conditions.- 4. Rethinking Competencies on Hazardous Industries: Case Study of the Nuclear Sector in France.- 5. Airbus Global Work Forecast (GWF): Meeting the Future Competence Challenge.- 6. Evolution in the Way of Waging War for Combatants and the Military Leader.- 7. Learning from the Military: Autonomous Systems and Safety in Work and Organizations.- 8. Critical Digital Services : An Under-Studied Safety-Critical Domain.- 9. Between Natural and Artificial Intelligence: Digital Sustainability in High-Risk Industries.- 10. Industry of the Future and Future of Work: Lessons Learned from Worker–Technology Cooperation and Work-Transformation Management.- 11. Towards Subordination of Regulation? Perspectives on Standardization and Safety Management in High-Hazard Industries in the Future.- 12. Conclusion.

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Book SynopsisThis book provides an overview of the evolution of investment and risk, together with a synthesis of research on these developments. It explores how exposures can be modified by measuring and managing them and introduces readers to the latest strategies and trends in investment. Broad in scope, the book covers the most important aspects of investment risk management, including the time value of money, financial markets, equity markets, bond markets, and portfolio theory. Accordingly, it offers a valuable asset for advanced undergraduate and graduate finance students, investors and academics alike.Table of Contents1. Introduction.- 2. Time Value of Money.- 3. Financial Markets.- 4. Stock Market.- 5. Bond Market.- 6. Portfolio Theory.- 7. Derivatives.- 8. Summary Problems.

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Book Synopsis​​In recent years sustainable finance along with Environmental, Social and Governance (ESG) aspects and their implications for financial institutions have attracted the attention of academics and policy makers. The aim of the book is to bring together chapters that discuss the most recent empirical and theoretical evidence in the field, along with policy making and regulatory initiatives. The book covers topics such as the changing role of banks in the financial system, the differences between sustainable banks and traditional banks, ESG and financial performance, bank social responsibility and customer satisfaction, ESG risk management of financial institutions, the politics of climate finance and policy initiatives, and the role of bank regulators. It will be of interest to academics and policymakers working in banking, risk management, sustainable finance and related fields. Table of ContentsPreface – by Chrysovalantis Gaganis, Fotios Pasiouras, Menelaos Tasiou, Constantin Zopounidis.- Chapter 1 – The changing role of banks in the financial system: social versus conventional banks, by Simon Cornée, Anastasia Cozarenco, Ariane Szafarz.- Chapter2 – ESG issues as strategic components of long‑term success of financial institutions: are there differences in financial performance and firm value? by Olaf Weber.- Chapter 3 – Corporate social responsibility, customer satisfaction and customer loyalty in banking institutions: A literature review, by Stratos Kartsonakis and Evangelos Grigoroudis.- Chapter 4 – Socially and environmentally responsible investments and mutual funds, by Michalis Doumpos, Marianna Eskantar and Constantin Zopounidis.- Chapter 5 - Firm ESG practices and the terms of bank lending, by Mingying Cheng and Iftekhar Hasan.- Chapter 6 – ESG and credit risk, by Chrysovalantis Gaganis, Fotios Pasiouras, Menelaos Tasiou.- Chapter 7 - The politics of climate finance and policy initiatives to promote sustainable finance and address ESG issues, by Paola D'Orazio.- Chapter 8 - The role of bank regulators in the promotion of green and climate finance, by Paola D'Orazio.

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Book SynopsisOne of the core functions of any successful business is the ability to manage and adapt to risk. In a global environment characterised by complexity, it is vital to be able to understand where risk lies and how it impacts upon business.This textbook presents a series of meta-level trends, including as geo-political risks, climate change, and technology, and explores how they are forming and reshaping the risk environment of business. Using a mix of micro and macro level analysis, students will be able to understand how seemingly random, global events, pose challenges for firms. Representing a bold sea-change in the study of international business, this book emphasises the practical elements that students will need to understand in order to succeed in the real world. Readers will not only learn how to understand and read risks in international markets, but they will also benefit from a tooklit to help them assess these processes. Ultimately, this textbook will furnish students with a full appreciation of the importance of risk in international systems.Table of ContentsChapter 1: The Nature of Risk in the International System This chapter will seek to define the main concepts and frameworks to be utilised within this book. The form and nature of risk will be explored as will the multi-scalar nature of the international system. The chapter will offer initial explorations of the links between the two and outline the mains meta level risks/trends to be addressed within the rest of the book. Chapter 2: Globalising the Business Model This chapter will introduce readers to the concept of the business model as well as exploring the nature of risk within them. In so doing, the chapter will outline how globality places adaptive tensions upon business models by reshaping the context through which risk impacts upon a firm’s value creating capabilities whether in terms of operations, markets, partners, etc. Chapter 3: The State in the International System IB is based upon the operations of business between and within states. Thus on both a standalone basis - and as a result of interdependencies - an understanding of states as agents of change within the international system is needed. The chapter will assess the notions of how the state shapes and adapts to risk within the global system. The chapter will also look at different types of states and how risk tends to vary across them. Chapter 4: Geo-economic Risks These are risks to business sourced from shifts or changes in the global economic system that have an impact that is International in nature . Such changes can be either random or emerge as a result of processes within the global economy. The chapter will address the main forms of macro-economic risks that have the potential to impact upon the sustainability of business. Thus the chapter will look at patterns of growth, trade, investment and so on and explore how trends in these indicators alter the opportunities/risks faced by the global business system. Chapter 5: Environmental Risks This chapter will examine how long term changes in the natural environment are reshaping risks at the micro and macro level. This can be through naturally occurring events and processes that can impact upon international operations through disrupting supply chains etc. There is also the human sourced environment changes (such as climate change) and how policymakers and consumer concerns in this area is impacting (both negatively and positively) upon the operation of the international system. Chapter 6: Geopolitical risks The ability of firms to operate across borders will in no small part be defined by the relationships between states. This matters to business as globally stretched supply chains are at risk of disruption should state relations decline. Consequently, geopolitics can have a large impact upon firm performance. This chapter will not only explore the broad consequence of geo-political risk for business but also examine the main geo-political processes currently at play within the global commercial system are shaping the risk environment for IB. Chapter 7: Societal Risks Social risks have been emergent themes throughout the economic system shaped by a mix of factors such as changing demographics, inequality and immigration. This chapter in addressing these issues seeks to explore the main social tensions within the global system and how these are reshaping the effective operation of the international system. It will seek to assess the potential for instability from such processes as well as understanding the responses to such trends. Chapter 8: Technological Risk Businesses operate in shifting technological contexts has the potential to alter the risk context at both micro (for example commercial obsolescence) and macro (for example security) levels. The emergence of new technologies based on AI or the rise of additive manufacturing have the capability to reshape the form and nature of the international system and its operation. The chapter will identify the core themes in technological change and how such meta-trends are altering our understanding of IB. Chapter 9: Infrastructural Risk Activity at both macro and micro levels operates in a complex spatial system that depends upon multi-level (national, international, etc.) infrastructures to support activity across space especially with increasingly elongated, complex supply chains. This exposes both businesses and state to risks created by disruption (either natural or human) to economic infrastructures. This chapter will seek to explore these risks not just within man-made structures but also across the global commons and how these can shape the value creating capability of the system. Chapter 10: International Business and Risk This chapter will bring the analysis within the previous chapters together to develop a holistic perspective on risks within globalised business models. The chapter will seek to offer practical guidance in understanding how to assess risks within businesses that operate within increasingly complex international environments.

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Book SynopsisIn the COVID 19 post-pandemic era, sustainable financial systems are increasingly getting the attention they deserve, and policymakers are now moving toward investment and financing decisions based on sustainable development.

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Book SynopsisThis textbook offers a detailed account of analytical models used to solve complex supply chain problems. This framework illustrates the complete supply chain for a product and demonstrates the supply chain's exposure to demand, supply, inventory, and financial risks.

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Book SynopsisSimon Erb analysiert relevante Business-Continuity-Risiken, die entstehen, wenn Unternehmen kritische IT-Systeme an unabhängige Provider auslagern, und arbeitet mögliche risikomindernde Maßnahmen systematisch auf. Anhand von Fallstudien bei funf großen schweizer Unternehmen zeigt er auf, welche Maßnahmen diese Unternehmen tatsächlich umsetzen und welche Faktoren die Assimilation von BCM in Outsourcing-Beziehungen positiv beeinflussen. Mit Business Continuity Management stellen Unternehmen sicher, dass kritische Geschäftsprozesse beim Eintritt von schwerwiegenden Ereignissen fortgeführt werden können. Outsourcing führt dazu, dass nicht mehr alle Business-Continuity-Risiken direkt durch das auslagernde Unternehmen gesteuert werden können. Deshalb müssen diese Risiken gesondert berücksichtigt werden.Table of ContentsBusiness-Continuity-Risiken in ausgelagerten IT-Systemen.- BCM-Framework für ausgelagerte IT-Systeme.- Theorien zur Assimilation.- Resource Dependence Theory.- Institutioneller Isomorphismus.- High Reliability Theory.- Normal Accident Theory.

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Book SynopsisWerden Risiken ohne Beachtung der Nachhaltigkeit untersucht, stoßen Entscheider an Grenzen, weil sie die Komplexität und Dynamik der Risiken überraschen. Die Herausforderungen in der Gesellschaft und große Schäden zeigen, dass es bisher keinen überzeugenden Ansatz zum Umgang mit Risiken unter Einbeziehung der Nachhaltigkeit gibt. Der Tagungsband enthält Anregungen und Lösungsansätze zur Verknüpfung der Themen Risiko und Nachhaltigkeit aus Gesellschaft, Politik, Wirtschaft, Gesundheit und Technik. Table of ContentsInterdisziplinäre Sichtweisen zu Nachhaltigkeit und Risikomanagement.- Nachhaltigkeit der Geschäftsmodelle von Unternehmen und Kreditinstituten.- Nachhaltigkeit in der Personalarbeit als erfolgskritischer Faktor für Unternehmen.- Nachhaltigkeit und Risikomanagement in Verantwortung der Städte und Regionen.

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Book SynopsisChristian Hugo Hoffmann undermines the citadel of risk assessment and management, arguing that classical probability theory is not an adequate foundation for modeling systemic and extreme risk in complex financial systems. He proposes a new class of models which focus on the knowledge dimension by precisely describing market participants’ own positions and their propensity to react to outside changes. The author closes his thesis by a synthetical reflection on methods and elaborates on the meaning of decision-making competency in a risk management context in banking. By choosing this poly-dimensional approach, the purpose of his work is to explore shortcomings of risk management approaches of financial institutions and to point out how they might be overcome.

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Book SynopsisDieser Band stellt in der erweiterten 2. Auflage die wesentlichen Faktoren eines guten Risikomanagements vor. Hans-Christian Brauweiler präsentiert sein Konzept des Risk Cubes, welches die zur Klassifizierung und Kategorisierung häufig verwendete zweidimensionale Risk Map um eine dritte und sehr wichtige Dimension - die der Proximität und Geschwindigkeit von Risiken - erweitert. Unternehmerisches Handeln birgt Risiken, die identifiziert werden und zu denen Gegenmaßnahmen entwickelt werden müssen, um keine Gefahr für den Fortbestand des Unternehmens darzustellen. Ein Managementsystem, welches geeignet ist, Risiken frühzeitig zu erkennen, zu quantifizieren sowie Abwehrmechanismen in Gang zu setzen und diese zu steuern, wird als Risikomanagement bezeichnet. Ergänzend stellt der Autor Aspekte der Risikostrategie von Unternehmen dar und beschreibt, welche gesetzlichen Vorgaben es je nach Unternehmensgröße und Rechtsform zur Errichtung eines Risikomanagements gibt.Trade Review“... Wer immer eine schnelle, unkomplizierte und gut verständliche Einführung in das Risikomanagement in Unternehmen sucht – Studierende und Dozenten der Wirtschaftswissenschaften sowie technischer Disziplinen, aber auch Praktiker aus den Bereichen Risikomanagement, Rechnungswesen und Revision sowie Integrierte Management Systeme – findet im vorliegenden Bändchen einen sehr gelungenen Überblick über diese Thematik.” (Bernd W. Müller-Hedrich, in: rezensionen.ch, 20. September 2018)Table of ContentsNotwendigkeit, Elemente und Aufbau von Risikomanagementsystemen.- Risikomanagement-Handbuch.- Risikomanagement am Beispiel der Kreditwirtschaft.- Basel II als Risikobegrenzung für Kreditinstitute.

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Book SynopsisDieses Lehrbuch zeigt, wie Enterprise Risk Management einen Mehrwert in Strategie- und Entscheidungsprozessen schafft. Anhand zahlreicher Beispiele von mittelständischen und großen Unternehmen aus unterschiedlichen Branchen stellt der Autor moderne Ansätze zum Ausgleich von Risiko und Ertrag vor. Da das traditionelle Risikomanagement in der Praxis oft ein eigenständiger, unabhängiger Prozess ohne Einfluss auf Entscheidungsprozesse ist, kann es kaumeinen Wert schaffen und bindet unnötig Ressourcen im Unternehmen. Der Autor zeigtamit bedient er sowohl Studierenden undals auch Praktikern mit modernen Ansätze aufn, die eine Verbindung zwischen ERM und Unternehmenssteuerung fördern. ErDer Autor erklärtzeigt auf didaktisch angemessene Weise, wie Unternehmen ERM konkret einsetzen können, um bessere Risiko-Ertrags-Entscheidungen unter Unsicherheit zu erzielen. Darüber hinaus werden theoretische und psychologische Erkenntnisse, die für unternehmerische Entscheidungssituationen relevant sind, einbezogen. Das Lehrbuch wurde für Hochschulkurse in Deutschland, Österreich und der Schweiz empfohlen und entwickeltTable of Contents

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Book SynopsisDas Buch vermittelt eine ganzheitliche Betrachtung des Risikomanagements und der organisationalen Resilienz anhand der Methode des Storytellings. Die Themen Risikomanagement, Krisenmanagement und Fehlermanagement werden von Unternehmen häufig unabhängig voneinander umgesetzt. Studien zur organisationalen Resilienz zeigen jedoch, dass eine Vernetzung aller drei Bereiche im Unternehmen der Schlüssel zum Erfolg sein kann.Diese Vernetzung gelingt am besten durch die Methode des Storytellings. Dabei werden Geschichten im Unternehmen strategisch genutzt, um fachlich relevante Informationen oder Prozessziele zu verdeutlichen oder Lösungswege aufzuzeigen. Damit können zum einen Traditionen, Werte und Unternehmenskultur vermittelt werden, aber auch durch die Arbeit mit Metaphern verborgene Konflikte aufgelöst werden. Denn Geschichten öffnen uns die Augen, verändern unsere Perspektive und dienen als praktische Handlungshilfen. Die Autoren beschreiben anschaulich und anhand von praxisorientierten Beispiel-Geschichten die Methode des Storytellings im Risiko-, Krisen- und Fehlermanagement und geben Tipps für die Entwicklung einer eigenen Geschichten-Datenbank.Table of ContentsEinleitung.- Skills. - Capture.- Share.- Generate.- Storytelling-Toolbox.

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Book SynopsisThis textbook provides a comprehensive introduction to portfolio management and investments. However, it will also benefit practitioners working in the fields of financial analysis and portfolio management and professionals who aspire to such professional activities in the financial industry.

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Book SynopsisDie Bedeutung politischer Risiken in Industrieländern nimmt zu. In jüngerer Vergangenheit dominieren geopolitische Risiken, die fundamentale Ausmaße annehmen und den Bestand des Unternehmens, ganzer Branchen oder sogar Volkswirtschaften gefährden können. Ebenso treiben zunehmende Regelungsdichte und Staatsverschuldungen die politischen Risiken. Das Buch stellt einen praxiserprobten Ansatz zur Identifizierung und zum proaktiven Management politischer Risiken in Unternehmen vor. Neben Risikovermeidung und Risikoreduktion kann dieser Ansatz Unternehmen helfen, Wettbewerbsvorteile im Umgang mit diesen Risiken auszubauen. Ein besonderer Fokus des Buchs liegt auf politische Risiken in Industrieländern. Wie die vorgestellten Werkzeuge im eigenen Unternehmen zum Einsatz kommen können, zeigen anschaulich drei fiktive Unternehmen, ein Chemiekonzern, ein Stromerzeuger und ein Rohstoffhändler, die den Leser durch das gesamte Buch begleiten. Table of Contents

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Book SynopsisPsychologie von Risiko und Vertrauen Unsicherheit und Unplanbarkeit nehmen zu, globale Krisen, Fake News und Skepsis erodieren bestehendes Vertrauen. Zusätzlich wird diese Dynamik durch technologische Entwicklungen befeuert, deren Akzeptanz maßgeblich von einer subjektiven Bewertung der Chancen und Risiken abhängt. Risikokompetenz, Risikomündigkeit oder auch Vertrauensaufbau sind hierbei zentrale Schlagwörter, welche exemplarisch für einen fundierten Umgang mit Risiko und Vertrauen stehen. Dieses Buch bietet Ihnen in 11 Kapiteln eine praxisorientierte Einführung in die Psychologie von Risiko und Vertrauen. Sie vertiefen Ihre Kenntnisse über Risikokommunikation im Krisenfall, den Umgang mit Misstrauen und auch wie es gelingt Vertrauen als entscheidendes Bindeglied zu etablieren, um Innovation und Fortschritt zu ermöglichen.Die didaktisch eingängig strukturierten Inhalte mit Lernzielen und Kontrollfragen stützen sich auf bewährte psychologische und aktuelle wissenschaftliche Erkenntnisse. Vielfältige Praxisbeispiele, wie z.B. von einer Extremsportlerin, einem Flight Safety Officer und einem katholischen Missbrauchsaufklärer, vermitteln einen persönlichen Bezug und zeigen Ihnen, wie vielschichtig sich der Umgang mit Risiko und Vertrauen gestalten kann. Dazu erhalten Sie hilfreiche Zusatzmaterialien über die Begleitwebseite. Kapitel 4 ist unter einer Creative Commons Attribution 4.0 International License über link.springer.com frei verfügbar (Open Access).Zielgruppen Studierende der Wirtschaftspsychologie und anderer Studiengänge im Bereich Wirtschaft, Entscheidungsträger, Führungskräfte und alle, die sich für den Umgang mit Risiko und Vertrauen interessieren.Zu den Herausgebern Prof. Dr. Jörn Basel – Professor für Wirtschaftspsychologie an der Hochschule Luzern (HSLU). Mitglied des First International Network on Trust (FINT). Seine Forschung beschäftigt sich unter anderem damit, wie Organisationen verlorenes Vertrauen wiederaufbauen können. Prof. Dr. Philipp Henrizi – Professor und Programmleiter Governance, Risk and Compliance der Hochschule Luzern (HSLU). Diverse Forschungsprojekte und Publikationen im Bereich Risk Management und Compliance Management. Mitglied im European Risk Research Network (ERRN). Table of ContentsEinleitung.- Die Philosophie von Risiko.- Die Psychologie des Risikos.- Ansätze zur Messung von Risikowahrnehmung und Risikoeinstellung: Das Beispiel touristische Reiseabsicht während einer Pandemie.- Risikoneigung und Risikoverhalten.- Die Komplexität der Risikokommunikation.- Risikodialog – Komplexität und Unsicherheit kommunizieren.- Vertrauen – ein anwendungsorientierter und interdisziplinärer Überblick.- Vertrauen in der internen Kommunikation von Organisationen.- Vertrauen schaffen mit Unternehmenskommunikation – ein linguistisches Modell von Glaubwürdigkeit durch Textdesign.- Risiko und Vertrauen: Wahrnehmung, Verhalten, Kommunikation.

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Book SynopsisThe central question for this year's report is how governance systems can evolve to better address the systemic risks of the future. In today's crowded and interconnected world, disaster impacts increasingly cascade across geographies and sectors, as the COVID-19 pandemic and climate change are rapidly making clear. Despite progress, risk creation is outstripping risk reduction. Disasters, economic loss, and the underlying vulnerabilities that drive risk, such as poverty and inequality, are increasing just as ecosystems and biospheres are at risk of collapse. The report highlights that a) the climate emergency and the systemic impacts of the COVID-19 pandemic point to a new reality; b) understanding and reducing risk in a world of uncertainty is fundamental to achieving genuinely sustainable development; and c) the best defense against future shocks is to transform systems now, to build resilience by addressing climate change, and to reduce the vulnerability, exposure, and inequality that drive disasters

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Book SynopsisGlobal warming will surpass 1.5êC above pre-industrial levels during the next decade, due to greenhouse gas emissions. The constant rise in temperatures and related impacts combine with other pressures, thus increasing risk and undermining resilience. The increasing interconnectedness of people and human systems increases the risk of compound and cascading crises. The maps in this report highlight a number of these resilience deficits that are holding back achievement of key sustainable development goals. At the same time, the report's action case examples show that this is not inevitable, and how action is possible on every continent to stop the worsening spiral of risk and disasters and to accelerate SDG target achievement. Addressing resilience gaps will require the unprecedented scaling-up of resilience investment and adaptation action both from within the public and private sectors, particularly for the most vulnerable countries. As these investments take time to mobilize and prepare, delay will increase the inevitable costs. Action is needed now. Disaster risk reduction sits at the nexus between development, humanitarian and climate change action, and can help foster more-sustainable resilient action in each. Readjusting development pathways requires a re-examination of how prosperity is measured, and a greater emphasis on resilience as key element of sustainable development today and in the future

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Book SynopsisThis diagnostics toolkit is designed to help countries assess the financial management of disaster risk and to provide a basis for them to enhance financial resilience through insurance and other risk transfer instruments.Disasters damage and destroy infrastructure and disrupt economic activities and services, potentially delaying long-term development and hampering efforts to reduce poverty in the region. Countries require a strong enabling environment for disaster risk financing to ensure the timely availability of post-disaster funding. In the report, the framework examines the state of the enabling environment and incorporates lessons from country diagnostics assessments for Fiji, Nepal, Pakistan, and Sri Lanka.

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Book SynopsisIn the field of financial risk management, the 'sell side' is the set of financial institutions who offer risk management products to corporations, governments, and institutional investors, who comprise the 'buy side'. The sell side is often at a significant advantage as it employs quantitative experts who provide specialized knowledge. Further, the existing body of knowledge on risk management, while extensive, is highly technical and mathematical and is directed to the sell side.This book levels the playing field by approaching risk management from the buy side instead, focusing on educating corporate and institutional users of risk management products on the essential knowledge they need to be an intelligent buyer. Rather than teach financial engineering, this volume covers the principles that the buy side should know to enable it to ask the right questions and avoid being misled by the complexity often presented by the sell side.Written in a user-friendly manner, this textbook is ideal for graduate and advanced undergraduate classes in finance and risk management, MBA students specializing in finance, and corporate and institutional investors. The text is accompanied by extensive supporting material including exhibits, end-of-chapter questions and problems, solutions, and PowerPoint slides for lecturers.

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Book SynopsisThis book outlines risk management theory systematically and comprehensively while distinguishing it from academic fields such as insurance theory. In addition, the book builds a risk financing theory that is independent of insurance theory.Until now, risk management (RM) theory has been discussed while the framework of the theory has remained unclear. However, this book, unlike previous books of this type, provides risk management theory after presenting a framework for it. Enterprise risk management (ERM) is seen differently depending on one’s position. For accountants, it is a means for internal control to prevent accounting fraud, whereas for financial institutions, it quantifies the risk that administrators can take to meet supervisory standards. Therefore, most of the ERM outlines are written to suit the intended uses or topics, with no systematic RM overviews. This book discusses a systematic RM theory linked to the framework of it, unlike previous books that were written according to topic.After the Enron scandal in December 2001 and WorldCom accounting fraud in June 2002, several laws were enacted or revised throughout the world, such as the SOX Act(Sarbanes-Oxley Act) in the United States and the Financial Instruments and Exchange Law and Companies Act in Japan. In this process, the COSO(Committee of Sponsoring Organizations of Treadway Commission) published their ERM framework, while the ISO (International Organization for Standardization) published their RM framework. The author believes that the competition between these frameworks was an opportunity to systematize RM theory and greatly develop it as an independent discipline from insurance. On the other hand, the Great East Japan Earthquake that occurred on March 11, 2011, caused enormous losses. Also, because pandemics and cyber risks are increasing, businesses must have a comprehensive and systematic ERM for these risks associated with their business activitiesTable of ContentsTable of contents 2 List of Figures and Tables Foreword 14 Part 1 - General Theory of Risk Management 16 Chapter 1 The concept of risk and corporate risk 17 1. The concept of risk 17 (1) Risk in insurance 17 (2) Deviation from expected value 18 (3) Black Swan 19 2. Classification by insurance potential 19 (1) Pure risk and speculative risk 19 (2) Static risk and dynamic risk 20 3. Corporate risk types 20 (1) Market risk 21 (2) Credit risk 23 (3) Operational risk 27 Chapter 2 Corporate risk management and related fields 31 1. Risk management 31 2. Corporate risk management 32 3. Crisis management 36 4. Business continuity plan 38 5. Business continuity management 43 Chapter 3 Accounting Fraud and Internal Control 46 1. Frequent accounting fraud 46 (1) Enron 46 (2) WorldCom 49 (3) Cockroach theory 50 2. SOX act 51 3. Companies act 53 4. Japanese version of the SOX Act (Financial Instruments and Exchange Act) 54 5. Companies act and Japanese SOX act 55 Chapter 4 COSO-ERM framework 58 1. COSO Organization 58 2. Internal control framework 58 3. COSO-ERM framework 63 (1) ERM framework establishment 63 (2) Definition of ERM 65 (3) Features of COSO-ERM 65 (4) COSO-ERM objective categories 67 (5) COSO-ERM basic components 68 (6) Effectiveness and limitations of COSO ERM 69 4. COSO-ERM (2017) 71 (1) Outline of COSO-ERM (2017) 71 (2) Main COSO-ERM (2017) revisions 75 (3) Relationship with internal control of COSO-ERM (2017) 78 Chapter 5 ISO RM Framework 79 1. ISO organizations and risk management standards 79 2. Risk and risk management definitions 80 3. ISO 31000 system 81 4. Principles (ISO 31000:2018) 83 5. Framework (ISO 31000:2018) 85 6. Processes (ISO 31000:2018) 87 7. Features of ISO 31000 90 Chapter 6 Risk Assessment 92 1. Risk assessment overview 92 2. Risk assessment technique 93 3. Risk identification 94 4. Risk analysis 95 (1) Overview of risk analysis 95 (2) Consequence analysis 97 (3) Scenario analysis 97 (4) Quantitative risk analysis indicators 103 (5) Risk curve 104 (6) Risk matrix 105 5. Risk evaluation 106 6. Risk communication 109 Chapter 7 VaR (Value at Risk) 112 1. Probability 112 (1) Concept of probability 112 (2) Variance and standard deviation 114 2. Value at Risk 119 (1) VaR concept 119 (2) Origin and development of VaR 120 (3) VaR measurement method 122 (4) Limits of VaR 124 3. Expected loss and unexpected loss 125 4. VaR by risk type 126 5. Stress test 127 Part II Risk Financing 129 Chapter 8 Risk Treatment and ART 130 1. Risk treatment overview 130 2. Risk treatment measures 131 (1) Risk treatment measures overview 131 (2) Risk control 133 (3) Risk Financing 134 3. ART and risk financing 136 4. Financial market 141 5. Impact of ARTs on finances 142 Chapter 9 Limitations of insurance as a risk financing tool 146 1. Insurance and risk financing 146 2. Insurable interest and insurance 147 (1) Insurable interest and prohibition of gain 147 (2) Relationship between insurable value and sum insured 149 (3) Subrogation 151 3. Insurance Crisis in the United States 153 (1) The start of the insurance crisis in the United States 153 (2) Underwriting cycle 154 (3) Cash flow underwriting 155 (4) Punitive damages 156 (5) PL (Products Liability) lawsuit 158 (6) Court system 159 Chapter 10 Captive Insurers and Finite Insurance 162 1. Captive insurance companies 162 (1) Definition of a captive insurance company 162 (2) Captive insurance companies types 163 (3) Japanese operating companies and captive insurance companies 167 (4) Benefits of captive insurance companies 170 2. Finite insurance 171 Chapter 11 Contingent capital 176 1. Contingent capital overview 176 2. Contingent Debt 177 (1) Commitment line 177 (2) Contingent loan 181 3. Contingent Equity 182 (1) Contingent equity (CoCo bond) 182 (2) Contingent surplus notes and contingent equity puts 185 Chapter 12 Securitization and Insurance Linked Securities 188 1. Asset-backed securities 188 2. Real estate securitization 189 3. Securitization of receivables 190 4. Securitization and the financial crisis 195 (1) Subprime loans 195 (2) CDS 197 (3) CDS and subprimes 199 5. Insurance Linked Securities 200 (1) The emergence of insurance-linked securities 200 (2) The mechanism of insurance-linked securities 204 (3) Trigger 206 6. Japan's earthquake insurance and ILS 208 Chapter 13　Insurance linked security types 224 1. Cat bonds 224 (1) Cat bond mechanism 224 (2) Cat bond effects 226 (3) Cat bond issuance example 228 2. Sidecar 234 3. ILW 236 4. Collateralized reinsurance 239 Chapter 14 Derivatives and Insurance Derivatives 241 1. Derivatives 241 (1) Overview of derivatives 241 (2) Futures 244 (3) Options 246 (4) Swap 251 2. Insurance derivatives 255 Chapter 15 Weather derivatives trading 259 1. Weather risk and companies 259 2. Weather derivatives 262 (1) Features of weather derivatives 262 (2) Types of weather derivatives 263 (3) Effects of weather derivatives 267 3. Weather derivatives trading 269 (1) CDD and HDD 269 (2) Listing of weather derivatives 270 4. Weather derivatives in Japan 271 5. Examples of weather derivative products 273 (1) Risk exchange transactions 273 (2) Non-life insurance company products 275 (Bibliography/Sources) 279

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Book SynopsisThis book deals with the contemporary subject of perception of risk and its influence on accidents and disasters. The contents examine the conventional viewpoints on human errors, incubation of errors, complexity and organisational deviance as a cause for accidents. Work of Mary Douglas with regard to risk, Charles Perrow's work on the normal accident theory and Diane Vaughan's theory on normalisation of deviance are examined from a fresh perspective in this book. It also discusses prominent accidents in aviation, space, nuclear energy, automotive and healthcare, using the pandemic and Boeing 737 Max as a backdrop to study accidents and disasters. It further explores the background and similarities to these events and addresses the core issues such as the state of regulation, the worldview of the sociologists, and proposes that mental models of complex systems, avarice and risk for gain as other possibilities for accidents. Using the concept of nudge in behavioural economics and the Elinor Ostrom’s viewpoint on regulating for common good, it suggests a way forward through the High Reliability Organisation Theory (HRO) leading to enhanced risk perception. The book will be of interest to those who would like to understand the need to incorporate risk perception into regulation, engineers and scientists, professionals and policy makers working in the areas of disaster and risk management, technology areas like aviation, nuclear plants, space and healthcare, students of the sociology of risk and of course the general reader.Table of ContentsIntroduction.- Incidents, Accidents and Unmitigated Disasters.- Learning from Failures – Evolution of Risk and Safety Regulation.- Keep it Simple but Not Stupid - Complex Technology and Complex Organisations.- Are Failures Stepping Stones to More Failures - The Sociology of Danger and Risk.- To Err is Human – What exactly is Human Error?.- What I Do Not Know Will Hurt Me - Mental Models and Risk Perception.- Is Greed Really that Good - Avarice and Gain versus Risk and Blame.- And There is Dr. Kato: How Does it Look and Where Do We Go from Here?.

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Book SynopsisThis book will help you learn the importance of organizations treating enterprise cyber risk management (ECRM) as a value creator, a business enabler, and a mechanism to create a competitive advantage. Organizations began to see the real value of information and information technology in the mid-1980s. Forty years later, it’s time to leverage your ECRM program and cybersecurity strategy in the same way. The main topics covered include the case for action with specific coverage on the topic of cybersecurity as a value creator, including how the courts, legislators, and regulators are raising the bar for C-suite executives and board members. The book covers how the board’s three primary responsibilities (talent management, strategy, and risk management) intersect with their ECRM responsibilities.ECRM was once solely focused on managing the downside of risk by defending the organization from adversarial, accidental, structural, and environmental threat sources. Author Bob Chaput presents the view that we must focus equally on managing the upside of cyber strengths to increase customer trust and brand loyalty, improving social responsibility, driving revenue growth, lowering the cost of capital, attracting higher quality investments, creating competitive advantage, attracting and retaining talent, and facilitating M&A work. He focuses on the C-suite and board role in the first part and provides guidance on their roles and responsibilities, the most important decision about ECRM they must facilitate, and how to think differently about ECRM funding. You will learn how to the pivot from cost-center thinking to value-center thinking.Having built the case for action, in the second part, the book details the steps that organizations must take to develop and document their ECRM program and cybersecurity strategy. The book first covers how ECRM must be integrated into business strategy. The remainder of that part presents a sample table of contents for an ECRM Program and Cybersecurity Strategy document and works through each section to facilitate development of your own program and strategy. With all the content and ideas presented, you will be able to establish, implement, and mature your program and strategy.What You Will Learn Read new information and treat ECRM and cybersecurity as a value creator Receive updates on legal cases, legislative actions, and regulations that are raising the stakes for organizations, their C-suites, and boards Think differently about funding ECRM and cybersecurity initiatives Understand the most critical ECRM decision that boards must facilitate in their organizations Use practical, tangible, actionable content to develop and document your ECRM program and cybersecurity strategy “This book should be mandatory reading for C-suite executives and board members. It shows you how to move from viewing cybersecurity as a risk to avoid, and a cost center that does not add value and is overhead, to seeing cybersecurity as an enabler and part of your core strategy to transform your business and earn customer and stakeholder trust.” —Paul Connelly, First CISO at the White House and HCA Healthcare Who This Book Is ForThe primary audience includes Chief Information Security Officers, Chief Risk Officers, and Chief Compliance Officers. The secondary audience includes C-suite executives and board members. The tertiary audience includes any stakeholder responsible for privacy, security, compliance, and cyber risk management or students of these topics.Table of Contents

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