Financial risk management : models, history, and institutions
Allan M. Malz.
Hoboken, N.J. : Wiley, c2011.
"An in-depth look at the tools and techniques professionals use to address financial risksRisk and uncertainty, as Allan Malz explains in his ground-breaking new book, are two completely different concepts. Risk is a quantifiable uncertainty that can be modeled, while uncertainty defines non-quantifiable outcomes that are not always known. Part art and part science, the study of risk remains a relatively new discipline in finance and economics that continues to be refined. Financial crisis, rather than destroying the need for risk management, has given even great nuance and meaning to what risks exist and can be managed and controlled, and a taxonomy of new risks that need to be explored in ever more meaningful ways. This definitive guide on financial risk Explores all the tools and techniques needed to cope with risk Addresses state of the art approaches to modeling and managing risks Investigates stress tests in periods of heightened uncertainty, and the impact that variables such as liquidity and correlations can have on risk mitigation Provides practicing risk professionals with useful rules of thumb, intuitions, and insights gleaned from Malz's entire career as risk researcher, chief risk officer, and financial market regulator outside his classroom at Columbia University Informative and engaging, this book will help you understand why risk has become its own essential discipline on Wall Street and beyond"--
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Financial risk has become a focus of financial and nonfinancial firms, individuals, and policy makers. But the study of risk remains a relatively new discipline in finance and continues to be refined. The financial market crisis that began in 2007 has highlighted the challenges of managing financial risk. Now, in Financial Risk Management, author Allan Malz addresses the essential issues surrounding this discipline, sharing his extensive career experiences as a risk researcher, risk manager, and central banker. The book includes standard risk measurement models as well as alternative models that address options, structured credit risks, and the real-world complexities of risk modeling, and provides the institutional and historical background on financial innovation, liquidity, leverage, and financial crises that is crucial to practitioners and students of finance for understanding the world today. --
Financial Risk Management is equally suitable for firm risk managers, economists, and policy makers seeking grounding in the subject. This timely guide skillfully surveys the landscape of financial risk and the financial developments of recent decades that culminated in the crisis. The book provides a comprehensive overview of the different types of financial risk, as well as the techniques used to measure and manage them. Topics covered include: --
Market risk, from Value-at-Risk (VaR) to risk models for options --
Credit risk, from portfolio credit risk to structured credit products --
Model risk and validation --
Risk capital and stress testing --
Liquidity risk, leverage, systemic risk, and the forms they take --
Financial crises, historical and current, and their causes and characteristics --
Financial regulation and its evolution in the wake of the global crisis --Book Jacket.
Financial risk has become a focus of financial and nonfinancial firms, individuals, and policy makers. But the study of risk remains a relatively new discipline in finance and continues to be refined. The financial market crisis that began in 2007 has highlighted the challenges of managing financial risk. Now, in Financial Risk Management, author Allan Malz addresses the essential issues surrounding this discipline, sharing his extensive career experiences as a risk researcher, risk manager, and central banker. The book includes standard risk measurement models as well as alternative models that address options, structured credit risks, and the real-world complexities of risk modeling, and provides the institutional and historical background on financial innovation, liquidity, leverage, and financial crises that is crucial to practitioners and students of finance for understanding the world today. --
Financial Risk Management is equally suitable for firm risk managers, economists, and policy makers seeking grounding in the subject. This timely guide skillfully surveys the landscape of financial risk and the financial developments of recent decades that culminated in the crisis. The book provides a comprehensive overview of the different types of financial risk, as well as the techniques used to measure and manage them. Topics covered include: --
Market risk, from Value-at-Risk (VaR) to risk models for options --
Credit risk, from portfolio credit risk to structured credit products --
Model risk and validation --
Risk capital and stress testing --
Liquidity risk, leverage, systemic risk, and the forms they take --
Financial crises, historical and current, and their causes and characteristics --
Financial regulation and its evolution in the wake of the global crisis --Book Jacket.
Physical items: 1, Online items: 0
Availability
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| Location | Call number | Status |
|---|---|---|
| English Book (4/F) | 332 MAL 2011 | Available |
| Location | Call number | Status |
|---|---|---|
| barcode, location, bookplate, id LOCATION | callnoa callnob | -- |
Bibliographic Information
- Format:
-
Book
- Subject:
- Financial risk management.
- Publication Year:
- 2011
- Language:
- English
- Published:
- Hoboken, N.J.
- ISBN:
- 9780470481806, 0470481803
- Course:
- FIN423
Financial Risk Analysis and Management - Series:
- Wiley finance series.
- Bibliography:
- Includes bibliographical references and index.
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