In this article, we consider wildfire risk management decisions using a dynamic stochastic model of homeowner interaction in a setting where spatial externalities arise. Our central objective is to apply observations from the social science literature about homeowner preferences to this economic...

The framework for insurance and reinsurance now in use needs updating. The proposal for a new solvency framework, called Solvency II, is introducing a risk- sensitive approach, taking into account optimal allocation of capital market, consistent valuation of assets and liabilities ("fair value"...

In the current economic context, risk management is very important, because the risks are becoming more difficult to identify and especially to control. The company objectives achievement requires the knowledge and multiple risk taking. Risk management is a process conducted by the management...

The article presents a study which aims to analyze the role of Basel regulatory in the context of changing the behaviour of financial markets actors. The main focus of the Basel Committee is regulatory relating to the activities of international banks. As discussed of the industry and almost all...

This paper evaluates the role of information technology and CAATTs and the way they could increase companies’ effectiveness in the near future. Our study focuses on the global trend of adopting new technologies at a large scale in internal audit in order to produce high qualitative audit...

Today’s business environment is characterized by a number of pressures for a more effective risk management. The present paper highlights the perspectives of internal audit which should be considered as an important progress factor for current Romanian organizations. Our findings suggest that...

The banking activity focuses on achieving optimal results; however, like any other human activity, it is also susceptible to a broad range of risks. Banking risk as a prospective and probable event whose onset is likely to inflict losses, can be induced by clients with whom the bank enters into...

The perceptions of Islamic banking professionals are surveyed through a questionnaire to explore whether the process of risk management mediates board involvement in risk management and risk management practices of Islamic banks in Malaysia and Egypt. The findings of this study identified that...

Following International Air Transportation Association requirement for all member airlines and airports to have a security management system (SeMS) beginning 1 March 2007, many organizations are looking to learn from safety and quality management systems. Without specific guidelines or best...

The thin and fluctuated market generally characterizing air transport to remote islands involves greater business risks for airlines. But air transport often plays an important role in the life and economy of such islands. This paper applies portfolio theory to explore how it can reduce business...