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Alleviating Coordination Problems and Regulatory Constraints through Financial Risk Management

Boyer, Marcel; Boyer, M. Martin; Garcia, René - Centre Interuniversitaire de Recherche en Analyse des … - 2011

We characterize a firm as a nexus of activities and projects with their associated cash flow distributions across states of the world and time periods. We propose a characterization of the firm where variations in the market price of risk induce adjustments in the value-maximizing combination of...

Persistent link: https://www.econbiz.de/10009643789

Managing IT Outsourcing Risk: Lessons Learned

Aubert, Benoit A.; Patry, Michel; Rivard, Suzanne - Centre Interuniversitaire de Recherche en Analyse des … - 2001

This document takes stock from several studies on outsourcing risk. A definition of risk is offered and illustration from many case studies is used to show how risk can be managed. Results show that an active risk management approach can reduce risk exposure subtantially while enabling the...

Persistent link: https://www.econbiz.de/10005100603

Capital Structure and Risk Management

Gobert, Karine - Centre Interuniversitaire de Recherche en Analyse des … - 2001

This paper examines the impact of capital structure on the optimality of contingent financial contracts. The role of financial relationships is not only to provide funds but also to offer insurance to a risk adverse entrepreneur through contingent financial transfers. Since such financial...

Persistent link: https://www.econbiz.de/10005100650

Testing and Comparing Value-at-Risk Measures

Christoffersen, Peter; Hahn, Jinyong; Inoue, Atsushi - Centre Interuniversitaire de Recherche en Analyse des … - 2001

Value-at-Risk (VaR) has emerged as the standard tool for measuring and reporting financial market risk. Currently, more than eighty commercial vendors offer enterprise or trading risk management systems which report VaR-like measures. Risk managers are therefore often left with the daunting task...

Persistent link: https://www.econbiz.de/10005100810

The Value of Real and Financial Risk Management

Boyer, Marcel; Boyer, M. Martin; Garcia, René - Centre Interuniversitaire de Recherche en Analyse des … - 2005

We characterize a firm as a nexus of activities and projects with their associated cashflows. Production and operations activities and real risk management activities distribute cashflows over states of nature and time periods, leading to a transformation possibility frontier similar to a...

Persistent link: https://www.econbiz.de/10005100941

Estimation Risk in Financial Risk Management

Christoffersen, Peter; Gonçalves, Sílvia - Centre Interuniversitaire de Recherche en Analyse des … - 2004

Value-at-Risk (VaR) and Expected Shortfall (ES) are increasingly used in portfolio risk measurement, risk capital allocation and performance attribution. Financial risk managers are therefore rightfully concerned with the precision of typical VaR and ES techniques. The purpose of this paper is...

Persistent link: https://www.econbiz.de/10005101108

The Indirect Costs of Venture Capital in Canada

Carpentier, Cécile; Suret, Jean-Marc - Centre Interuniversitaire de Recherche en Analyse des … - 2005

Some analysts and policy makers consider that the growth of New Technology Based Firms (NTBF) is impeded by an insufficient supply of capital. In Canada, as in other jurisdictions, the public authorities have interceded to fill this equity gap by increasing the supply of funds. However, several...

Persistent link: https://www.econbiz.de/10005100735

Critical Capabilities and Performance of the Small Subcontracting Firms in the Aerospace Industry

Bourgault, Mario; Lefebvre, Élisabeth; Lefebvre, Louis A. - Centre Interuniversitaire de Recherche en Analyse des … - 1994

cet article est d'identifier certaines de ces compétences critiques qui caractérisent les PME à succès dans une industrie …

Persistent link: https://www.econbiz.de/10005169005

Industrie aérospatiale nord-américaine et performance des sous-traitants : Écarts entre le Canada et les États-Unis

Bourgault, Mario - Centre Interuniversitaire de Recherche en Analyse des … - 1997

présente des défis importants pour les petites et moyennes entreprises (PME) impliquées à titre de sous-traitants. La … tirées d'une enquête réalisée auprès de 273 PME localisées sur le territoire nord-américain (Canada et États-Unis), et … côté des firmes de taille moyenne. Les PME canadiennes s'écartent peu du profil de sous-traitant traditionnel, alors que …

Persistent link: https://www.econbiz.de/10005417583

The Influence Prism in SMEs: The Power of CEOs' Perceptions on Technology Policy and Its Organizational Impacts

Lefebvre, Élisabeth; Lefebvre, Louis A.; Mason, R. - Centre Interuniversitaire de Recherche en Analyse des … - 1994

This study examines a group of SMEs operating in the same industrial sector but with policies, strategies, and practices that differ significantly. An integrated framework is presented whose predictor variables comprise the Strategic Orientations of Business Enterprise (STROBE), structural...

Persistent link: https://www.econbiz.de/10005273017