Behavioral Risk Management
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Behavioral Risk Management
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Author : Hersh Shefrin
language : en
Publisher: Springer
Release Date : 2016-04-29
Behavioral Risk Management written by Hersh Shefrin and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.
The psychological dimension of managing risk is of crucial importance, and its study has led to the identification of specific do's and don'ts. Those with an understanding of the psychology underlying risk and the skills to recognize its manifestation in practice, have the opportunity to develop frameworks that embody the do's and don'ts, thereby producing sound judgments and good decisions. Those lacking the understanding and the skills are destined to be more hit and miss in their approach to risk management, doing the don'ts and not doing the do's. Virtually every major risk management catastrophe in the last fifteen years has psychological pitfalls at its root. The list of catastrophes includes the 2008 bankruptcy of Lehman Brothers and subsequent global financial crisis, the 2010 explosion at BP's Macondo well in the Gulf of Mexico and the 2011 nuclear meltdown at the Fukushima Daiichi power plant. A critical lesson from psychological studies for those involved in risk management is that people's judgments and decisions about risk vary with type of circumstance. In Behavioral Risk Management readers will learn that there are specific actions that organizations can undertake to incorporate understanding, recognition, and behavioral interventions into the practice of risk management. There are many examples throughout the book that illustrate doing the don'ts. The chapters in the first part of the book introduce the main ideas, and the chapters in the latter part provide insight into how to apply those ideas to the practical world in which risk managers operate.
Behavioral Risk Management
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Author : Rudy M. Yandrick
language : en
Publisher: Jossey-Bass
Release Date : 1996-05-03
Behavioral Risk Management written by Rudy M. Yandrick and has been published by Jossey-Bass this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-05-03 with Business & Economics categories.
Workplace interventions that address a variety of health and non-health related issues, such as substance abuse and unhealthy lifestyle patterns, have proven to be an effective method for reducing health care costs, increasing productivity, and reducing financial losses. Behavioral Risk Management demonstrates how organizations can implement these strategies to meet the challenge of escalating health costs by minimizing their employees' demand for health care.The author tells how to identify potential mental health and behavioral problems on the job and outlines specific intervention strategies to prevent them. In addition, he provides specific guidelines for evaluating individual and organizational behavior and risk exposure, measuring the effectiveness of current strategies, and introducing new programs, services and benefits that can be applied within the managed health care environment.
Behavioral Risk Management
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Author : Daniel Noack
language : de
Publisher: diplom.de
Release Date : 2008-08-06
Behavioral Risk Management written by Daniel Noack and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-08-06 with Business & Economics categories.
Inhaltsangabe:Einleitung: Wir leben in einer komplexen Welt und werden jeden Tag von einer unglaublichen Anzahl von Informationen überflutet. Die rationale Entscheidungstheorie nimmt an, dass Menschen all diese Informationen verarbeiten und auf ihrer Basis objektiv Entscheidungen treffen können. Die menschliche Fähigkeit zur Informationsverarbeitung ist jedoch quantitativ beschränkt und die notwendigen Vereinfachungen um das Leben effizienter zu meistern, können in Abweichungen von der Rationaltheorie oder ihren Annahmen resultieren. Diese Abweichungen können bei allen Urteilen und Entscheidungen des täglichen Lebens geschehen, besonders relevant sind sie jedoch in risikobehafteten Urteils- und Entscheidungssituationen. Die allgemeine Erkenntnis der Irrationalitäten des menschlichen Entscheidungsverhaltens basiert auf einer Vielzahl anekdotischer, experimenteller und psychologischer Erkenntnisse, sowie abstrahierenden Entscheidungsmodellen. Diese Erkenntnisse sind bisher mit Hinsicht auf das Risiko Management jedoch kaum systematisch betrachtet und eingeordnet worden. Zentrales Ziel dieser Diplomarbeit ist es daher, die für das Risiko Management aus dem individuellen, irrationalen Urteils- und Entscheidungsverhalten erwachsenden relevanten Erklärungsansätze und Theorien zu identifizieren, diese im menschlichen Urteils- und Entscheidungsprozess einzuordnen und so ein fundiertes, theoretisches Gerüst zu schaffen. Eine umfassende Darstellung des theoretischen Gerüsts, wie sie als Grundlage weiterer Forschung und zur wertgenerierenden Anwendung der Erkenntnisse im individuellen und unternehmerischen Risiko Management benötigt wird, liegt bislang nicht vor. Ein Einblick in die Implikationen des dargestellten Theoriengerüsts wird am Ende dieser Diplomarbeit zur Erklärung des Verhaltens auf Versicherungsmärkten genutzt. Da der Einfluss verhaltenswissenschaftlicher Theorien für Versicherungsmärkte in einem weitaus höheren Maße erforscht ist, als für das unternehmerische Risiko Management, wird für Unternehmen betrachtet, durch welche Vorgehensweisen sie Risiken aus Urteils- und Entscheidungsfehlern erkennen und minimieren können. Die Betrachtung beginnt mit der Beschreibung der Grundzüge des Risiko Managements (Kapitel 2) und der rationalen Entscheidungstheorie (Kapitel 3). Anschließend wird die Basis jeder Entscheidungsfindung, nämlich die Wahrnehmung und Beurteilung von Informationen, in Kapitel 4 betrachtet. Kapitel 5 beschreibt die menschliche [...]
The Ten Commandments Of Risk Leadership
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Author : Annette Hofmann
language : en
Publisher: Springer Nature
Release Date : 2022-02-19
The Ten Commandments Of Risk Leadership written by Annette Hofmann and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-19 with Business & Economics categories.
We as humans are prone to a variety of wired-in cognitive mistakes in the way we interpret and react to risk-related information. This is highly consequential since the cognitive biases managers are exposed to in their day-to-day business erode the objectivity of their risk-related decisions, which ultimately hurts the financial well-being of their firms. This book seeks to develop risk literacy as a leadership skill. It helps managers develop the skills to improve managerial decision-making in regards to managing risk. The last decades have offered various insights into how human nature often gets in the way of rational decision-making. This book is a valuable resource for insurance executives, chief risk officers, company leaders, and graduate students of risk management and risk psychology. It is the first behavioral risk management guide for managers and other interested readers - using examples from economic theory, behavioral finance, and game theory, it studies the hidden forces that drive our decision-making processes under risk.
Decision Making In Risk Management
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Author : Christopher O. Cox
language : en
Publisher: CRC Press
Release Date : 2021-07-26
Decision Making In Risk Management written by Christopher O. Cox and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-26 with Technology & Engineering categories.
Project risk management is regarded as a necessary dimension of effective project delivery. Current practices tend to focus on tangible issues such as late delivery of equipment or the implications of technology. This book introduces a framework to identify emergent behavior-centric intangible risks and the conditions that initiate them. Decision Making in Risk Management: Quantifying Intangible Risk Factors in Projects identifies the quantitative measures to assess behavior-induced risks by presenting a framework that limits the interpersonal tension of addressing behavioral risks. Included in the book is an illustrative case study from the oil and gas sector that demonstrates the use of the framework. The missing dimension of behavior-centric intangible risk factors in current risk identification is explored. The book goes on to cover management processes, providing a systematic analytical approach to mitigate subjectivity when addressing behavioral risks in projects. This book is useful to those working in the fields of Project Management, Systems Engineering, Risk Management, and Behavioral Science.
Threat Assessment
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Author : James T Turner
language : en
Publisher: Routledge
Release Date : 2012-12-06
Threat Assessment written by James T Turner and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Detailed “how to's” of threat assessment—from the initial contact to the sharing of results! Risk management can be an organizational nightmare, but it is an essential part of your operations. Recent events have shown us that organizations need to know how to respond swiftly and effectively in emergencies and that companies need to protect their employees from internal and external threats. This book provides you with the tools you need to protect both your employees and yourself from a variety of threats. Threat Assessment: A Risk Management Approach examines the factors that human resource, security, legal, and behavioral professionals need to understand in work violence and threat situations that disrupt the working environment, revealing the best ways to reduce risk and manage emergencies. It includes case studies and hypothetical examples that show recommended practices in action and provides detailed interviewing methods that can increase the efficiency of current strategies. Helpful appendices provide sample forms for identification cards, stay-away letters, workplace behavior improvement plans for problem employees, questions for health care providers, and announcements for employees regarding security changes. An extensive bibliography points the way to other useful material on this subject. Threat Assessment: A Risk Management Approach explores: the role of the multidisciplinary threat management team corporate liaisons with law enforcement agencies cyberthreats and stalking insider threats category classification of offending behaviors Risk management is a constantly evolving field, and Threat Assessment provides you with access to the latest updates. Staying up-to-date on risk management innovations will help you increase corporate sensitivity to possible threats and provide the safest possible working environment to your employees. The authors of Threat Assessment are seasoned professionals with extensive experience in risk management. You can learn from their expertise and adapt it to your situation, improving workplace safety and contributing to security in your own community.
Organizational Risk Management
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Author : Krista N. Engemann
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2022-07-05
Organizational Risk Management written by Krista N. Engemann and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-07-05 with Business & Economics categories.
Every organization faces difficult decisions when managing risk and the potential consequences of its manifestation. For a more thorough outlook on risk, organizations should also evaluate and engage with its advantages. Organizational Risk Management: Managing for Uncertainty and Ambiguity covers a series of perspectives that represent both causal and interpretative frameworks. These perspectives shed light on how organizational structures and processes adapt amid a complex, dynamic organizational environment in an effort to manage and exploit the accompanying risks of that environment. This volume will oftentimes challenge the expectation for and utility of clarity in crisis situations, thereby favoring uncertainty and ambiguity as the necessary conditions to exploit organizational risk and explore opportunities that rely on interpretation, learning, and knowledge among individuals. The ultimate objective of Organizational Risk Management: Managing for Uncertainty and Ambiguity is to promote discussion among practitioners and organizational scholars who venture to understand organizational risk. Setting such a goal is to essentially practice what this volume shall inevitably preach: engage one another in order to proactively monitor and respond to risk. Strengthening ties along the bridge between practice and science will be a welcomed consequence of this volume.
Behavioural Risks In Corporate Governance
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Author : Ngozi Vivian Okoye
language : en
Publisher: Routledge
Release Date : 2015-03-05
Behavioural Risks In Corporate Governance written by Ngozi Vivian Okoye and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-05 with Business & Economics categories.
Recent cases of corporate failures, including the fixing of LIBOR rates and money laundering issues in the banking industry, highlight how behavioural issues on the part of company directors are significant contributory factors in corporate governance and the success or failure of companies. This book examines how personality and behavioural issues have contributed to major corporate failures, and how this risk may be managed. The book examines behavioural risks in corporate governance, and evaluates the extent to which risk management mechanisms have acknowledged various aspects of behaviour. Drawing from cases in the UK, the US and Australia and research in psychology and the behavioural sciences, Ngozi Vivian Okoye argues that current corporate governance mechanisms lack provision for identifying and managing personality risks, and suggests how constituent elements of behaviour should be engaged with when developing preventive mechanisms for corporate failures. Okoye presents a conceptual framework for identifying and managing personality risks, and explores how personality risk may be built into corporate governance regulation. The book will be of great use and interest to researchers and practitioners in business and company law, corporate governance, and critical management studies.
Applied Asset And Risk Management
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Author : Marcus Schulmerich
language : en
Publisher: Springer
Release Date : 2014-10-20
Applied Asset And Risk Management written by Marcus Schulmerich and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-20 with Business & Economics categories.
This book is a guide to asset and risk management from a practical point of view. It is centered around two questions triggered by the global events on the stock markets since the middle of the last decade: - Why do crashes happen when in theory they should not? - How do investors deal with such crises in terms of their risk measurement and management and as a consequence, what are the implications for the chosen investment strategies? The book presents and discusses two different approaches to finance and investing, i.e., modern portfolio theory and behavioral finance, and provides an overview of stock market anomalies and historical crashes. It is intended to serve as a comprehensive introduction to asset and risk management for bachelor’s and master’s students in this field as well as for young professionals in the asset management industry. A key part of this book is the exercises to further demonstrate the concepts presented with examples and a step-by-step business case. An Excel file with the calculations and solutions for all 17 examples as well as all business case calculations can be downloaded at extras.springer.com.
Risk Profiling Through A Behavioral Finance Lens
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Author : Michael Pompian
language : en
Publisher: CFA Institute Research Foundation
Release Date : 2016-03-03
Risk Profiling Through A Behavioral Finance Lens written by Michael Pompian and has been published by CFA Institute Research Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-03 with Business & Economics categories.
This piece examines risk profiling through a behavioral finance lens. Behavioral finance attempts to understand and explain actual investor behavior, in contrast to theorizing about investor behavior. It differs from traditional (or standard) finance, which is based on assumptions of how investors and markets should behave. Much has been written about the tension that exists between the willingness to take risk and the ability to take risk. Risk appetite is the willingness to take risk and risk capacity is the ability to take risk. In the behavioral context, risk appetite and risk capacity are defined in terms of known risks and unknown risks. Irrational client behavior often occurs when a client experiences unknown risks. To aid in the advisory process, advisors can use Behavioral Investor Types to help make rapid yet insightful assessments of what type of investor they are dealing with before recommending an investment plan. With a better understanding of behavioral finance vis-à-vis risk taking, practitioners can enhance their understanding of client preferences and better inform their recommendations of investment strategies and products.