风险作为战略：抵御灾难性的命运转折

Q4 Business, Management and Accounting

Strategy and Leadership Pub Date : 2020-05-28 DOI:10.1108/sl-04-2020-0061

J. Calandro

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引用次数: 1

摘要

目的作者为高管们提供了一个战略流程，以主动降低灾难性的、不必要的黑天鹅意外事件的风险，这些意外事件可能会严重且往往突然损害资产负债表。设计/方法/方法应用作者方法的一种实用方法是在市场波动率较低或收缩时对冲集中的资产负债表风险。发现尽管没有人能够可靠地预测流行病和相关的股市动荡，但高管们不必预测未来，就能在经济上保护他们的资产负债表免受黑天鹅事件的影响。实际含义管理者可以构建黑天鹅情景，以评估一个不可预见的、不利的未来可能如何发展，以及哪种风险管理衍生品最能缓解它。独创性/价值这种管理资产负债表威胁风险的战略方法可以帮助公司在未来的危机和灾难中超越竞争对手。

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Risk as strategy: defending against catastrophic turns of fortune

Purpose The author offers executives a strategic process for proactively mitigating the risk of catastrophic unwanted Black Swan surprises that can severely, and often abruptly, impair a balance sheet. Design/methodology/approach One practical way to apply the author’s approach is through hedging concentrated balance sheet exposures when market volatility is low or contracting. Findings Though no one can reliably anticipate pandemics and related stock market turbulence, executives do not have to predict the future to economically protect their balance sheets from Black Swan events. Practical implications Managers can construct Black Swan scenarios to assess how an unforeseen, disadvantageous future could develop and which risk management derivative would best mitigate it. Originality/value This strategic approach to managing balance-sheet-threatening risks could help a firm outperform its competitors during future crises and catastrophes.

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来源期刊

Strategy and Leadership Business, Management and Accounting-Strategy and Management

CiteScore

1.20

自引率

0.00%

发文量

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