Rasmussen, Svend - Institut for Fødevare- og Ressourceøkonomi, … - 2013
Current methods of risk management focus on efficiency and do not provide operational answers to the basic question of … how to optimise and balance the two objectives, maximisation of expected income and minimisation of risk. This paper uses … the Capital Asset Pricing Model (CAPM) to derive an operational criterion for the optimal risk management of firms. The …