The risk management processes described in this book had their genesis well over 20 years ago when I accepted a position at the University of Southampton. There I met and worked with Dr Chris Chapman, already an acknowledged expert in project risk, with an established relationship with BP and an extensive client base in Canada. Chris involved me in his consulting activities in North America, primarily associated with quantitative risk analyses of large projects in the hydroelectric and the oil and gas industries....
Modern western societies have a paradoxical relationship with risks. On the
one hand, there is the utopian quest for a zero-risk society. On the other
hand, human activities may increase risks of all kinds, from collaterals of new
technologies to global impacts on the planet. The characteristic multiplication
of major risks in modern society and its reﬂexive impact on its development
is at the core of the concept of the “Risk Society”
A continuity plan should be an essential element of any business’ strategy or operating
procedures. In recent years, the impacts that Y2K, 9/11, SARS and the power outage in
Ontario, the ice storm in central Canada and other natural disasters have had on
Canadian businesses only reinforces the need for continuity plans. Current concern
about the risk of an avian flu pandemic further emphasizes the point that continuity
planning must take the specific case of highly infectious diseases into account.
Canada’s business community is at risk.
This report is one of a series from a RAND Project AIR FORCE project, “The Cost of Future Military Aircraft: Historical Cost Estimating Relationships and Cost Reduction Initiatives.” The purpose of the project is to improve the tools used to estimate the costs of future weapon systems. It focuses on how recent technical, management, and government policy changes affect cost. This report examines cost estimating risk analysis methods and recommends a policy prescription. The project was conducted within the RAND...
In this paper, we formulate extractive summarization as a risk minimization problem and propose a unified probabilistic framework that naturally combines supervised and unsupervised summarization models to inherit their individual merits as well as to overcome their inherent limitations. In addition, the introduction of various loss functions also provides the summarization framework with a flexible but systematic way to render the redundancy and coherence relationships among sentences and between sentences and the whole document, respectively. ...
Lecture Financial markets and institutions - Chapter 8 presents the following content: Bond valuation process; relationships between coupon rate, required return, and bond price; explaining bond price movements; sensitivity of bond prices to interest rate movements; bond investment strategies used by investors; return and risk of international bonds.
Suppliers from whom you purchase products and services for the operation ofyour business are also important members of your business team. Suppliers canplay a major role in your ultimate success or failure. Consequently, these relationships need to be carefully developed and managed. Decisions to select andwork with one supplier over another cannot be based solely on who offers thelowest price; you also have to factor many other influences, such as paymentterms, warranties and guarantees, and reliability. Remember, your supplier’s promises to you are your promises to your customers.
Understanding the relationship between credit and interest rate risk is critical to many applications in finance, from valuation of credit and interest rate-sensitive instruments to risk management. This study empirically examines the relationship between interest rates and default risk using firm level corporate default data in the United States between 1982 and 2008. We find significant negative contemporaneous correlations between the changes in short interest rates and aggregate default rates, with a particularly strong relationship around financial crises.
This is an introductive study on what Fuzzy Logic is, on the difference between Fuzzy Logic
and the other many-valued calculi and on the possible relationship between Fuzzy Logic
and the complex sciences. Fuzzy Logic is nowadays a very popular logic methodology.
Different kinds of applications in cybernetics, in software programming and its growing use
in medicine seems to make Fuzzy Logic, according to someone, the “new” logic of science
In writing this book we set out to modernize the teaching of bank management at
universities and collegiate schools of business. Our goal is to expand the scope of the
typical bank management course by (1) covering a broader, but still selective, variety
of Wnancial institutions, and (2) explaining the why of intermediation, as opposed to
simply describing institutions, regulations, and market phenomena. Our approach is
unapologetically analytical, and we have tried to make analysis an appealing feature
of this book....
Chapter 8 uses a unique data set from the Commodity Futures Trading Commission to investigate the impact of trading by large hedge funds and commodity trading advisors (CTAs) in 13 futures markets. Regression results show there is a small but positive relationship between the trading volume of large hedge funds and CTAs and market volatility.
Everyone keeps data. Big organizations spend millions to look after their payroll, customer, and transaction
data. The penalties for getting it wrong are severe: businesses may collapse, shareholders and customers lose
money, and for many organizations (airlines, health boards, energy companies), it is not exaggerating to say that
even personal safety may be put at risk. And then there are the lawsuits. The problems in successfully designing,
installing, and maintaining such large databases are the subject of numerous books on data management and
Few people manage to make money from gambling -fewer still make a living from it. Written forhardened and novice bettors alike, JosephBuchdahl's essential guide examines, throughvarious numerical techniques, how fixed oddspunters may learn to beat the bookmaker, protectprofits through a sensible approach to riskmanagement, and turn high-risk gambling into aform of low-risk investment.
The insurance sector is an infrastructural pillar of the financial services sector and the
economy as a whole. It plays a key role in economic development. Several empirical
studies suggest a strong correlation between the development of financial intermediaries
and economic growth. According to Patrick (1966)
there are two, possibly coexisting,
relationships between the financial sector and economic growth.
Connection fees, generated when customers connect to the Group’s network, are deferred and
recognized as revenue over the average estimated customer relationship period.
The estimate of the average estimated customer relationship period is based on the recent
history of customer churn.Potential changes in estimates could lead to changes in both the
amount and timing of the future recognition of revenues.