Reflections on Risk Management

Rahl, Leslie; Lee, Cherie
April 2000
Business Economics;Apr2000, Vol. 35 Issue 2, p20
Academic Journal
Unpredicted, drastic market moves every year for the past decade haunt the global capital markets, and managers everywhere have desperately sought proper risk management techniques to prepare for the next one. Tracking the evolution of risk management, significant improvements have developed in quantitative techniques, such as Value-at-Risk (VaR) measures. Effective risk management, however, also uses tools, such as Stress Testing, that incorporate qualitative as well as quantitative analysis. Creating hypothetical extreme market move scenarios and examining their impact allows managers to be better prepared for the "unexpected" by implementing well-thought-out defense mechanisms to lessen or even prevent losses.


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