This paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks, which are risks that have an ex ante private reward for the bank on a stand-alone basis, and bad risks, which do not have such a reward. A well-governed bank takes the amount...

This paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks, which are risks that have an ex ante private reward for the bank on a stand-alone basis, and bad risks, which do not have such a reward. A well-governed bank takes the amount...

We investigate the relationship between boardroom gender diversity and firm risk. To identify a causal effect of gender on risk, we use a dynamic model that controls for reverse causality and for gender and risk being influenced by unobservable firm factors. We find no evidence that female...

This third chapter of the course focuses on the importance of strategy and corporate governance. Both play a very crucial role in the success of risk management. Most companies in the past have failed due to either poor strategies or not finding enough risks within their strategy. The classic...

Properly identifying, measuring and mitigating pension risks continues to be a critical element of fiduciary governance. The complexity and ongoing nature of the risk management process is sometimes overlooked as less important than realising a particular rate of return. Recent market...

Governance risks stem from the own governance of any organization. The paper puts forward an operational viewpoint of those risks, by mapping the most distinctive categories of governance analysis onto time-dependent governance variables. Afterwards, risks conveyed by the latter are measured...