Risk management in turbulent times /

The Subprime Crisis has shown that the sophisticated risk management models used by banks and insurance companies had serious flaws. Some people even suggest that these models are completely useless. Others claim that the crisis was just an unpredictable accident that was largely amplified by the la...

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Bibliographic Details
Main Author:	Beneplanc, Gilles
Other Authors:	Rochet, Jean-Charles
Format:	eBook
Language:	English
Language Notes:	English.
Published:	New York : Oxford University Press, ©2011.
Subjects:	Risk management. Risk management > Methodology. Gestion du risque. Gestion du risque > Méthodologie. risk management. BUSINESS & ECONOMICS > Insurance > Risk Assessment & Management. Risk management Risk management > Methodology Electronic books.
Online Access:	Connect to the full text of this electronic book

Table of Contents:

Risk management : what must be changed
Lessons from recent financial crises
Living in turbulent times
The need for a proper methodology
What is behind risk modeling
The basic tools of risk modeling
Statistical risk measures
Leverage and ruin theory
The perfect markets hypothesis and its dangers
Risk neutral valuation
The case of incomplete markets : relating risk premiums to economic fundamentals
Risk management in a normal world
Risk management and shareholder value
Why market imperfections matter for shareholder value
The shareholder value function
Risk management and the shareholder value function
What to do in practice?
The different steps of the implementation
Learning from an example
Conclusion : some simple messages.