Boyer, Marcel; Boyer, M. Martin; Garcia, René - Centre Interuniversitaire de Recherche en Analyse des … - 2005
activities and real risk management activities distribute cashflows over states of nature and time periods, leading to a … that financial risk management allows a firm to meet cashflow-at-risk or value-at-risk constraints at little or no cost … less to changes in market prices of risks to attain the new value maximizing portfolio of real activities. Financial risk …