This paper develops a general framework for analyzing corporate risk management policies. We begin by observing that if external sources of finance are more costly to corporations than internally generated funds, there will typically be a benefit to hedging: hedging adds value to the extent

Modern risk management calls for an understanding of stochastic dependence going beyond simple linear correlation. This paper deals with the static (non-time-dependent) case and emphasizes the copula representation of dependence for a random vector. Linear correlation is a natural dependence

maturity and increase yield spreads, but their importance is relatively small for the range of environments considered. Risk management

Empirical evidence shows that the practice of risk management is limited and does not correspond to the prescriptions of the academic literature. In particular, the practice focuses on hedging transactions exposures and a firm’s hedge ratios depend on the views of the managers of that firm

Like many fields in their early stages, the software field has had its share of project disasters: the software equivalents of Beauvais Cathedral, the S.S. Titanic, and the "Galloping Gertie " Tacoma Narrows Bridge. The frequency of these disaster projects is a serious concern: a recent survey of 600 firms

need for risk management to evolve to assure a culture of safety*

and computational risk management to sustain Service Level Agreement (SLA)-oriented resource allocation. In addition, we reveal our early thoughts on interconnecting Clouds for dynamically creating global Cloud exchanges and markets. Then, we present some representative Cloud platforms, especially those developed

Abstract In an intensifying international competition banks are forced to place increased emphasis on enterprise wide risk-/return management. Financial risks have to be limited and managed from a bank wide portfolio perspective. Risk management requirements have to be met from an internal as well

functions is also common to organizations like large professional partnerships, financial mutuals and nonprofits. We contend that separation of decision and risk bearing functions survives in these organizations in part because of the benefits of specialization of management and risk bearing but also

Abstract not found