Topic
Financial risk
About: Financial risk is a research topic. Over the lifetime, 11899 publications have been published within this topic receiving 231404 citations. The topic is also known as: economic risk.
Papers published on a yearly basis
Papers
More filters
TL;DR: Sex differences in patterns of risk taking in day-to-day behavior among Dutch cyclists are described and it is shown that across these domains men are more inclined to take risks than women.
Abstract: The majority of research examining sex differences in risk-taking behavior focuses on overt physical risk measures in which failed risk attempts may result in serious injury or death. The present research describes sex differences in patterns of risk taking in day-to-day behavior among Dutch cyclists. Through three observational studies we test sex differences in risk taking in situations of financial risk (fines for failing to use bike lights, Study 1), theft risk (bike locking behavior, Study 2) as well as physical risk (risky maneuvers, Study 3). Results corroborate previous findings by showing that across these domains men are more inclined to take risks than women. We discuss how these findings might be used in an applied context.
67 citations
TL;DR: The findings support the claim that the degree of actual changing depends strongly on economic incentives, especially with regard to the extent of financial risk sickness funds have to bear and to the degree premiums or contribution rates can differ.
67 citations
22 Oct 2010
TL;DR: This chapter discusses the relationship between financial risk management and operational risk management, and a case study of the ETL-based solution used for this purpose.
Abstract: Foreword. Preface. Introduction. Notes on Contributors. List of Acronyms. PART I INTRODUCTION TO OPERATIONAL RISK MANAGEMENT. 1 Risk management: a general view (Ron S. Kenett, Richard Pike and Yossi Raanan). 1.1 Introduction. 1.2 Definitions of risk. 1.3 Impact of risk. 1.4 Types of risk. 1.5 Enterprise risk management. 1.6 State of the art in enterprise risk management. 1.7 Summary. References. 2 Operational risk management: an overview (Yossi Raanan, Ron S. Kenett and Richard Pike). 2.1 Introduction. 2.2 Definitions of operational risk management. 2.3 Operational risk management techniques. 2.4 Operational risk statistical models. 2.5 Operational risk measurement techniques. 2.6 Summary. References. PART II DATA FOR OPERATIONAL RISK MANAGEMENT AND ITS HANDLING. 3 Ontology-based modelling and reasoning in operational risks (Christian Leibold, Hans-Ulrich Krieger and Marcus Spies). 3.1 Introduction. 3.2 Generic and axiomatic ontologies. 3.3 Domain-independent ontologies. 3.4 Standard reference ontologies. 3.5 Operational risk management. 3.6 Summary. References. 4 Semantic analysis of textual input (Horacio Saggion, Thierry Declerck and Kalina Bontcheva). 4.1 Introduction. 4.2 Information extraction. 4.3 The general architecture for text engineering. 4.4 Text analysis components. 4.5 Ontology support. 4.6 Ontology-based information extraction. 4.7 Evaluation. 4.8 Summary. References. 5 A case study of ETL for operational risks (Valerio Grossi and Andrea Romei). 5.1 Introduction. 5.2 ETL (Extract, Transform and Load). 5.3 Case study specification. 5.4 The ETL-based solution. 5.5 Summary. References. 6 Risk-based testing of web services (Xiaoying Bai and Ron S. Kenett). 6.1 Introduction. 6.2 Background. 6.3 Problem statement. 6.4 Risk assessment. 6.5 Risk-based adaptive group testing. 6.6 Evaluation. 6.7 Summary. References. PART III OPERATIONAL RISK ANALYTICS. 7 Scoring models for operational risks (Paolo Giudici). 7.1 Background. 7.2 Actuarial methods. 7.3 Scorecard models. 7.4 Integrated scorecard models. 7.5 Summary. References. 8 Bayesian merging and calibration for operational risks (Silvia Figini). 8.1 Introduction. 8.2 Methodological proposal. 8.3 Application. 8.4 Summary. References. 9 Measures of association applied to operational risks (Ron S. Kenett and Silvia Salini). 9.1 Introduction. 9.2 The arules R script library. 9.3 Some examples. 9.4 Summary. References. PART IV OPERATIONAL RISK APPLICATIONS AND INTEGRATION WITH OTHER DISCIPLINES. 10 Operational risk management beyond AMA: new ways to quantify non-recorded losses (Giorgio Aprile, Antonio Pippi and Stefano Visinoni). 10.1 Introduction. 10.2 Non-recorded losses in a banking context. 10.3 Methodology. 10.4 Performing the analysis: a case study. 10.5 Summary. References. 11 Combining operational risks in financial risk assessment scores (Michael Munsch, Silvia Rohe and Monika Jungemann-Dorner). 11.1 Interrelations between financial risk management and operational risk management. 11.2 Financial rating systems and scoring systems. 11.3 Data management for rating and scoring. 11.4 Use case: business retail ratings for assessment of probabilities of default. 11.5 Use case: quantitative financial ratings and prediction of fraud. 11.6 Use case: money laundering and identification of the beneficial owner. 11.7 Summary. References. 12 Intelligent regulatory compliance (Marcus Spies, Rolf Gubser and Markus Schacher). 12.1 Introduction to standards and specifications for business governance. 12.2 Specifications for implementing a framework for business governance. 12.3 Operational risk from a BMM/SBVR perspective. 12.4 Intelligent regulatory compliance based on BMM and SBVR. 12.5 Generalization: capturing essential concepts of operational risk in UML and BMM. 12.6 Summary. References. 13 Democratisation of enterprise risk management (Paolo Lombardi, Salvatore Piscuoglio, Ron S. Kenett, Yossi Raanan and Markus Lankinen). 13.1 Democratisation of advanced risk management services. 13.2 Semantic-based technologies and enterprise-wide risk management. 13.3 An enterprise-wide risk management vision. 13.4 Integrated risk self-assessment: a service to attract customers. 13.5 A real-life example in the telecommunications industry. 13.6 Summary. References. 14 Operational risks, quality, accidents and incidents (Ron S. Kenett and Yossi Raanan). 14.1 The convergence of risk and quality management. 14.2 Risks and the Taleb quadrants. 14.3 The quality ladder. 14.4 Risks, accidents and incidents. 14.5 Operational risks in the oil and gas industry. 14.6 Operational risks: data management, modelling and decision making. 14.7 Summary. References. Index.
67 citations
TL;DR: In this paper, the authors examine the process of risk commodification involved in the creation of a market for weather derivatives in Europe and highlight the crucial role of a common interest for commensuration to succeed, and the conditions necessary for this common interest to occur.
Abstract: In this paper, we examine the process of risk commodification involved in the creation of a market for weather derivatives in Europe. We approach this issue through an in-depth qualitative study in which we focus on the commensuration process by which promoters try to draw weather risk into the financial world. By offering a concrete description of a derivatives market as a meeting place between different metrics, our results highlight the failure of a process of commensuration - a phenomenon rarely studied empirically in the literature - and its unexpected results. Compared to existing research, we use the theoretical framework provided by Boltanski and Thevenot (2006) to enrich the literature on commensuration specifically as regards the different forms of agreement to which commensuration attempts can lead. Our results highlight the crucial role of a common interest for commensuration to succeed, and the conditions necessary for this common interest to occur. We conclude that there are limits to the thesis of financial theory, according to which all kinds of risk can be transformed into financial risk, and exchanged on financial markets.
67 citations
TL;DR: A review of the literature in enterprise risk management using management science approaches is provided in this paper, and an introduction of the special issue is given in the introduction of this special issue.
Abstract: Risk-based decision making has been always important in everyday business life. Enterprise risk management (ERM) is the state-of-the-art approach to manage risks facing an organization from system perspective. This paper provides a review of popular literature in ERM using management science approaches, and an introduction of the special issue.
67 citations