In this paper we consider the operations of a non-financial corporation and present a novel risk-management framework … where the decision maker - the firm's manager - is risk averse. Critically, our framework (i) imposes risk aversion through … a generic class of tail risk constraints and (ii) considers explicitly the differences than can, and often do, exist …

Integrated risk management means the comprehensive and effective management all significant risks (affecting the bank …'s activities) and their interrelation, including building a corporate culture of risk management and integrating risk management … regulators. In the context of economic crises and sanctions, the role of effective risk management in banks is significantly …

Operational Risk. Not only for hedge funds, but also for other asset management companies – such as private equity companies …, family offices or independent asset managers - operational risk management is increasingly important. In this article, we … focus on Operational Risk Management for mid-sized Asset Management companies.We take a practitioner's view of how an …

operating risk may behave as if they were more risk averse in investment decisions. Specifically, we study how operating risk … from underwriting insurance policies affects insurers' risk taking behavior in their portfolio investments. We find that … risk -- they have lower credit risk exposure in their bond investments, as well as lower portfolio weights on risky bonds …