ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic)最新文献

Risk Aversion in the Large and in the Small 大风险和小风险的规避

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2011-06-23 DOI: 10.2139/ssrn.1876529

Jørgen Haug, T. Hens, Peter Wohrmann

引用次数: 28

First-Order (Conditional) Risk Aversion, Background Risk and Risk Diversification 一阶(条件)风险规避、背景风险与风险分散

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2011-05-20 DOI: 10.2139/ssrn.1800135

G. Dionne, Jingyuan Li

引用次数: 2

Subjective Ambiguity and Preference for Flexibility 主观歧义与灵活性偏好

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2010-09-09 DOI: 10.2139/ssrn.1679351

Leandro Gorno, Paulo Natenzon

引用次数: 5

A Note on Wealth Effect under CARA Utility 论CARA效用下的财富效应

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2010-04-20 DOI: 10.2139/ssrn.1350225

Dmitry Makarov, Astrid V. Schornick

引用次数: 13

Operational Risk Management in Rice Business Unit Business Process: Case Study on PT Pertani (Persero) 稻米事业部业务流程中的操作风险管理:以PT Pertani (Persero)为例

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-08-03 DOI: 10.2139/SSRN.1469678

E. T. Bobian

{"title":"Operational Risk Management in Rice Business Unit Business Process: Case Study on PT Pertani (Persero)","authors":"E. T. Bobian","doi":"10.2139/SSRN.1469678","DOIUrl":"https://doi.org/10.2139/SSRN.1469678","url":null,"abstract":"The paper presents risk management process in a rice commodity company. Operational risk, as one of the oldest risk that already occurred in a business process for centuries is the main topic that will be discussed in the paper. Operational risk played important factor in the company’s business processes. It is one of the biggest areas of risk that most companies face but it is an area, which has not traditionally been managed in an organized manner. If a company failed to identify and manage operational risks, it may result in huge financial losses that will lead the company to collapse. The writer chose PT Pertani (Persero) as research subject, because they are experiencing stable losses in their rice business unit for a long time. If the company keeps experiencing losses, they might declare bankruptcy in short period. In order to improve the company’s performance, implementing operational risk management is crucial. Operational risk management included several steps, which are business process analysis, risk identification, risk measurement, and risk mitigation. Monte Carlo simulations are employed to approximate the loss distribution and probability distribution of each risk. Monte Carlo simulations make it possible to incorporate the uncertainty of valuation parameters, in particular the severity and probability of the risk event.The result of the research suggest that PT. Pertani (Persero) should implement operational risk management, because by implementing good operational risk management, the company could increase their overall performance by considering risks that followed each action the company take regarding operational processes. Hopefully this research will provided useful information for PT Pertani (Persero) to manage their operational risk.","PeriodicalId":406145,"journal":{"name":"ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic)","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115025063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

On Choice in Complex Environments 关于复杂环境中的选择

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-04-20 DOI: 10.2139/ssrn.1392622

M. Agastya, A. Slinko

引用次数: 1

The Effect of Cash Flow on Investment: An Empirical Test of the Balance Sheet Channel 现金流对投资的影响:资产负债表渠道的实证检验

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-04-01 DOI: 10.2139/ssrn.1483016

O. Melander

引用次数: 22

Information Uncertainty, Information Asymmetry and Corporate Bond Yield Spreads 信息不确定性、信息不对称与公司债收益率价差

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-03-17 DOI: 10.2139/ssrn.1362156

Hsien-hsing Liao, Tsung-Kang Chen, Chia-Wu Lu, Wu Yi-Chieh

引用次数: 153

Risk and Return of Private Equity: An Overview of Data, Methods and Results 私募股权的风险与回报:数据、方法和结果综述

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-03-03 DOI: 10.2139/ssrn.1352351

Ludovic Phalippou

{"title":"Risk and Return of Private Equity: An Overview of Data, Methods and Results","authors":"Ludovic Phalippou","doi":"10.2139/ssrn.1352351","DOIUrl":"https://doi.org/10.2139/ssrn.1352351","url":null,"abstract":"I cover the different methods to measure risk and return of investing into private equity (also called buyout). However, the reader may bear in mind that the challenges and methods are very similar for other assets classes such as venture capital, real estate or mezzanine. In terms of vocabulary, I call a (portfolio) company the entity receiving the financing from a private equity fund, and private equity firm the organization running private equity funds (e.g. KKR funds, Bain capital funds). The capital committed to private equity funds increased from $3.5 billion in 1984 to over $300 billion in 2007 and more than $1 trillion of assets are estimated to be in the hand of private equity funds in 2007. This growth has often been attributed to a widespread belief of stellar performance and low risk but no rate of return has even been shown in support of this belief (only some multiples or IRRs) and no risk measure has been computed. Recent academic evidence which I document below is at odd with this belief.In this chapter, I review studies of risk and return of private equity which I complement with original empirical work. I distinguish between four types of data. Each represents a different level of challenge for measuring risk and return. From the easiest to the most difficult: i) publicly traded vehicles, ii) round valuation data [the econometrician knows the initial and final value of the investment but does not know the time-series of investment values; there is no intermediary cash-flows], iii) investment level [cash flows realized by the fund from an investment], and iv) fund level [cash flows faced by investors for their stake in a fund]. In the last two cases, the econometrician does not have a correspondence between each amount distributed and invested. These two cases require the same method, are most challenging and are the most relevant in practice.","PeriodicalId":406145,"journal":{"name":"ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114941298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Loss Reserving Using Loss Aversion Functions 基于损失厌恶函数的损失保留

ERN: Criteria for Decision-Making under Risk & Uncertainty (Topic) Pub Date : 2009-02-23 DOI: 10.2139/ssrn.1348279

Weihao Choo, Piet De Jong

引用次数: 15