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Derivatives Usage In Risk Management By U S And Germany Non Financial Firms

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Risk Management

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Author : Michael Frenkel
language : en
Publisher: Springer Science & Business Media
Release Date : 2005-12-06

Risk Management written by Michael Frenkel and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-12-06 with Business & Economics categories.

Dealing with all aspects of risk management that have undergone significant innovation in recent years, this book aims at being a reference work in its field. Different to other books on the topic, it addresses the challenges and opportunities facing the different risk management types in banks, insurance companies, and the corporate sector. Due to the rising volatility in the financial markets as well as political and operational risks affecting the business sector in general, capital adequacy rules are equally important for non-financial companies. For the banking sector, the book emphasizes the modifications implied by the Basel II proposal. The volume has been written for academics as well as practitioners, in particular finance specialists. It is unique in bringing together such a wide array of experts and correspondingly offers a complete coverage of recent developments in risk management.

Derivatives Usage In Risk Management By U S And German Non Financial Firms

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Author : Gordon M. Bodnar
language : en
Publisher:
Release Date : 1998

Derivatives Usage In Risk Management By U S And German Non Financial Firms written by Gordon M. Bodnar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Corporations categories.

Derivatives Usage In Risk Management By Us And German Non Financial Firms

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Author : Gordon M. Bodnar
language : en
Publisher:
Release Date : 2001

Derivatives Usage In Risk Management By Us And German Non Financial Firms written by Gordon M. Bodnar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.

This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non-financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies, but a comparative study, drawing a comparable subsample of firms from the US study to match the sample of German firms on both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of usage across industry and size groupings is comparable across the two countries. In both countries, foreign currency derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. In contrast to the similarities, firms in the two countries differ notably on issues such as the primary goal of hedging, their choice of instruments, and the influence of their market view when taking derivative positions. These differences appear to be driven by the greater importance of financial accounting statements in Germany than the US and stricter German corporate policies of control over derivative activities within the firm.

Introduction To Derivative Securities Financial Markets And Risk Management An Third Edition

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Author : Robert A Jarrow
language : en
Publisher: World Scientific
Release Date : 2024-05-03

Introduction To Derivative Securities Financial Markets And Risk Management An Third Edition written by Robert A Jarrow and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-03 with Business & Economics categories.

The third edition updates the text in two significant ways. First, it updates the presentation to reflect changes that have occurred in financial markets since the publication of the 2nd edition. One such change is with respect to the over-the-counter interest rate derivatives markets and the abolishment of LIBOR as a reference rate. Second, it updates the theory to reflect new research related to asset price bubbles and the valuation of options. Asset price bubbles are a reality in financial markets and their impact on derivative pricing is essential to understand. This is the only introductory textbook that contains these insights on asset price bubbles and options.

Derivatives Pricing And Modeling

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Author : Jonathan Batten
language : en
Publisher: Emerald Group Publishing
Release Date : 2012-07-02

Derivatives Pricing And Modeling written by Jonathan Batten and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-02 with Business & Economics categories.

Highlights research in derivatives modelling and markets in a post-crisis world across a number of dimensions or themes. This book addresses the following main areas: derivatives models and pricing, model application and performance backtesting, and new products and market features.

Risk Management

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Author : Michael Frenkel
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29

Michael Frenkel, Ulrich Hommel, Markus Rudolf This volume has been written in honor of Gunter Dufey who has dedicated his professional career to the advancement of international business education around the globe and who has done much to improve our understanding of risk management as a challenge as well as an opportunity for shareholder-value-driven enterprises. The editors have used his 60th birthday at the beginning of the new millenium as a welcome opportunity to honor his lifelong commitment to research, university teaching and executive training. We have done so by bringing together a select group of individuals who have joined us in an effort to highlight the most recent developments as well as the immediate challenges in the field of risk management. The contributors have all been influenced by Gunter Dufey's work as students, co-authors, faculty colleagues and fellow researchers. The collection of papers contained in this volume bears witness to his mentoring role and builds on his own research agenda. Throughout his professional career, Gunter Dufey has been regarded as the prototype of the global citizen by his friends and collegues.

Interest Rate Risk Management

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Author : Christine Helliar
language : en
Publisher: Elsevier
Release Date : 2005-05-04

Interest Rate Risk Management written by Christine Helliar and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05-04 with Business & Economics categories.

Financial risk management is currently subject to much debate, especially the accounting for derivative products, and a number of commentators are objecting to the introduction of International Accounting Standard IAS 39 for Derivatives that will be in force by January 2005 for all EU companies. The topic of hedge accounting and the treatment of fair values may have a significant impact on many companies reported profits, and the volatility of earnings is likely to increase. Uniquely this monograph focuses on interest rate risk management. Most studies of corporate risk management have typically dwelt on the topic of management of exchange rate risk, with interest rate risk management being neglected. The book's findings examine the views of UK corporate treasurers who are usually involved in the risk management strategies of their organisation and who have responsibility for implementing those strategies in practice.* The research is the first comprehensive UK study on this area* Relevant to the imminent arrival of IAS 39, the International Accounting Standard for Derivatives that will be in force by January 2005 for all EU companies.* The findings of the book have implications for government policy and regulators

Risk Management And Value Creation In Financial Institutions

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Author : Gerhard Schroeck
language : en
Publisher: John Wiley & Sons
Release Date : 2002-10-01

Risk Management And Value Creation In Financial Institutions written by Gerhard Schroeck and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-10-01 with Business & Economics categories.

An analysis of the links between risk management and value creation Risk Management and Value Creation in Financial Institutions explores a variety of methods that can be utilized to create economic value at financial institutions. This invaluable resource shows how banks can use risk management to create value for shareholders, addresses the advantages of risk-adjusted return on capital (RAROC) measures, and develops the foundations for a model to identify comparative advantages that emerge as a result of risk-management decisions. It is the only book needed for banking executives interested in the relationship between risk management and value creation.

Financial Derivatives

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Author : Simon Grima
language : en
Publisher: Emerald Group Publishing
Release Date : 2020-02-17

Financial Derivatives written by Simon Grima and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-17 with Business & Economics categories.

Should we fear financial derivatives, or embrace them? Finance experts Simon Grima and Eleftherios I. Thalassinos explore what financial derivatives are, and whether the investment world should consider them useful tools, or a complete waste of time and money.

Design Of Master Agreements For Otc Derivatives

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Author : Dietmar Franzen
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Design Of Master Agreements For Otc Derivatives written by Dietmar Franzen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.

I first came across the issue of derivatives documentation when writing my diploma thesis on measuring the credit risk ofOTC derivatives while I was an economics student at the University of Bonn. Despite the fact that security design has been an area of research in economics for many years and despite the widespread use of derivatives documentation in financial practice, the task of designing contracts for derivatives transactions has not been dealt with in financial theory. The one thing that aroused my curiosity was that two parties with usually opposing interests, namely banking supervisors and the banking industry's lobby, unanimously endorse the use ofcertain provisions in standardized contracts called master agreements. Do these provisions increase the ex ante efficiency of contracts for all parties involved? I actually began my research expecting to find support for the widely held beliefs about the efficiency or inefficiency of certain provisions and was sur prised to obtain results that contradicted the conventional wisdom. I would strongly advise against using these results in any political debate on deriva tives documentation. They were obtained within a highly stylized model with some restrictive assumptions. This work should rather be seen as an attempt to formalize the discussion on derivatives documentation and to challenge the notion that certain provisions are generally ex ante efficient. It is also an invitation to all those advocating the use of certain provisions in master agreements to formalize their arguments and to explain the economic ratio nale behind these provisions.

Derivatives Usage In Risk Management By U S And Germany Non Financial Firms

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