The international business environment is very competitive, and enterprises should be aware of how to manage business risks, which methods to choose, and what impact these risks have on the sustainability of these methods and on the whole system. The aim of this article is to analyse the impact...

Over the last three decades, the world economy has been facing stock market crashes, currency crisis, the dot-com and real estate bubble burst, credit crunch and banking panics. As a response, extreme value theory (EVT) provides a set of ready-made approaches to risk management analysis....