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Go to Amazon.com and search for books on risk.

Available NOW: RiskWorld's own page listing of risk-related books available from
CRC Press LLC.

   RiskWorld Bookstore
 
Books on Financial & Investment Risks
 
2006
 
Credit Risk Modelling (Finance and Capital Markets)
by Con Keating; May 2006; ISBN 0333998618
This book provides a comprehensive guide to the estimation and analysis of credit risk. It takes the reader through the entire spectrum of techniques both in use and under development, and is illustrated with qualitative and quantitative applications.
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Economics and Finance of Risk and of the Future (The Wiley Finance Series)
by Robert Kast and André Lapied; June 2006; ISBN 0470015772
This book uses real-world examples to show how individual and collective risks can be blended and treated in a reliable decision-making framework that draws its inspiration from decision theory and market based mechanisms. It then goes into deeper detail by looking at the implications of having to face risks (a) where some kind of probabilistic description is available and (b) where none is available, using the example of insurable risks vs non-insurable risks. Again, by using real-world examples it shows how decision-makers can cope with such situations by a proper understanding and use of modern financial techniques.
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Information Security Cost Management
by Ioana V. Bazavan and Ian Lim; August 2006; ISBN 0849392756
Written in an accessible, informal style, Information Security Cost Management demonstrates how to strategically maximize a limited security budget without compromising the quality of risk management initiatives. Organized into management components, each chapter highlights common pitfalls in security initiatives and recommends cost saving methods to achieve intended results. It presents processes that show how to identify the most critical components of a system's security, staff a security organization, prioritize spending, manage internal and external audits, assess costs for identity and access management, maximize the use of vendors, and evaluate the costs of outsourcing.
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Risk and Foreign Direct Investment
by Colin White and Katie Fan; March 2006; ISBN 1403945640
This book recommends and examines the various approaches to incorporating an accurate measure of risk into the appraisal of an international investment. It considers the way in which decisions on international investment projects are taken and how they should be. It critiques and integrates existing theories, including the global capital asset pricing rule of financial theory, theories of strategy making and the real options approach, to show how risk should be incorporated into the present value formula and its various elements to produce a clear decision rule.
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Risk Management and Financial Institutions
by John C. Hull; May 2006; ISBN 0132397900

This book takes risk management theory and explains it in a “this is how you do it” manner for practical application in today’s real world. It offers students the ability to gain knowledge that will stay with them beyond college and be useful in the real world.

 

Based on one of the most popular MBA courses at University of Toronto entitled “Financial Risk Management”, this text focuses on the ways banks and other financial institutions measure market, credit and operational risk. The practical nature of the book lends itself to a “this is how you do it” presentation style that includes excellent account of the new Basel II regulatory requirements for banks effective in 2007.

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Strategic Alliances to Scale Up Financial Services in Rural Areas
by Joselito Gallardo, Michael Goldberg, and Bikki Randhawa; April 2006; ISBN 0821366033
Business firms have employed strategic alliances with other firms to effectively manage costs, overcome resource and technology constraints, and enhance competitive position. The principle and practice of strategic alliances can be applied as well for productive and beneficial institutional collaborations in rural financial markets to expand the array of financial products and to scale up access of rural households and micro-businesses to financial services.

Strategic alliances comprise a new theme in rural finance. The institutions in the study used strategic alliances to tap new capital resources, manage transaction costs, access banking technology and infrastructure and acquire new skills to provide an expanding array of financial services to wider markets. The authors carefully examine the experiences of selected rural finance institutions and their strategic allies or development partners in Guatemala, the Philippines, Ghana and India to draw out the main findings and share the lessons that may be gainfully applied in other country settings. The study addressed a number of key questions: (1) What motivated the rural finance institution to structure its alliance or partnership with a bank, commercial or development organization? (2) How are gains from and costs of alliances and partnerships shared between collaborating institutions? (3) What are the key elements that make partnerships or alliances successful, and which conditions lead to unproductive ones? and (4) Which financial products and services are best introduced through strategic alliances?

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Structured Finance and Insurance : The ART of Managing Capital and Risk
by Christopher L. Culp; January 2006; ISBN 0471706310
The evolution and development of structured finance and structured insurance (a.k.a. alternative risk transfer or ART) have provided increasing numbers of nonfinancial corporations with dynamic new techniques for creating value by integrating the management of capital and risk. A practical obstacle, however, has been the difficulty of structuring efficient, customized solutions to risk and capital management without—intentionally or not—creating even larger problems and pitfalls.

Structured Finance and Insurance explores the develop?ment of this new generation of products and solutions for managing market, credit, operational, legal, and other risks in the context of the broader themes of corporation finance and risk management. Risk managers, treasurers, and CFOs on the corporate side, as well as reinsurers, insurance brokers, and investment bankers on the product side, will gain new insights and knowledge through its well-organized approach:

  • Part One provides a theoretical backdrop by reviewing the fundamental principles of capital management, corporation finance, risk transfer, and risk finance
  • Part Two presents a review of traditional risk transfer with a strong emphasis on credit risk management—the products and solutions reviewed include insurance, reinsurance and retrocession, financial guarantees, sureties, and credit derivatives
  • Part Three provides a detailed look at structured finance products and processes, including structured notes, hybrid and convertible structures, contingent capital, CDOs, and project/principal finance
  • Part Four examines techniques of structured insurance and ART, including insurance-linked notes, captives and mutuals, finite risk, multi-line and multi-trigger structures, and contingent cover
  • Part Five features valuable chapters written by leading experts on specific issues and topics including the treatment of insurance under the Basel Accord, trends in insurance securitizations, specific examples of the use of structured finance and insurance techniques to facilitate enterprise risk management, new accounting and disclosure requirements, and more

Structured Finance and Insurance provides today's most detailed and well-grounded coverage of the latest alternatives for managing corporate risks by either employing insurance solutions or accessing capital markets. Case studies and examples help practitioners to understand that while insurance and financial solutions are in many ways similar, they often possess critical differences that can explode on the unwary user. By helping capital markets and insurance professionals to speak the same language—the common language of capital management and corporate finance—this essential book will bring structure and precision to an often-cloudy world and help eliminate the confusion that has, in the past, turned the convergence of structured finance and insurance from a financial boon to a headline-making nightmare.

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2005
Strategies in Personal Finance - Basic Investment Principles for Today and Tomorrow
by Keith V. and Jane A. Smith; February 2005; Purdue University Press; ISBN 1557533474
Spouses--the husband a former business school dean and finance professor emeritus of finance and his wife, a master of business administration graduate and principal of a small-business consulting service--have co-written an undergraduate textbook in financial planning and investment management with other audiences in mind, from MBA students to individuals and families who want to raise their financial IQ. Individual chapters on saving, investing, taxes, and real estate could also be used in financial planning seminars. (Also read news release.)
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2004
Corporate Financial Risk Management : A Computer-based Guide for Nonspecialists
by Roy L. Nersesian; February 2004; ISBN 1567205844
What if you could understand financial risk management without immersing yourself in high-level mathematics? In this straightforward, readable guide--which requires only a working familiarity with financial spreadsheets--Nersesian explains what financial risk management is, describes its various forms, and shows how to anticipate and cope with it.
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Credit Risk Modeling : Theory and Applications
by David Lando; July 2004; ISBN 0691089299
Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. The author considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand, and on a direct modeling of the default probability of issuers on the other. He offers insights that can be drawn from each approach and demonstrates that the distinction between the two approaches is not at all clear-cut. The book strikes a fruitful balance between quickly presenting the basic ideas of the models and offering enough detail so readers can derive and implement the models themselves. The discussion of the models and their limitations and five technical appendixes help readers expand and generalize the models themselves or to understand existing generalizations. The book emphasizes models for pricing as well as statistical techniques for estimating their parameters. Applications include rating-based modeling, modeling of dependent defaults, swap- and corporate-yield curve dynamics, credit default swaps, and collateralized debt obligations.
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Dealing with Financial Risk
by David Shirreff; July 2004; ISBN 1576601625
This book presents key concepts in a simple and entertaining way by explaining the endeavors, mistakes, and successes of others as they tried to identify, measure, and simplify risk and make it work for them. It includes analysis of some of the recent corporate disasters and what each has added to the understanding of financial risk, including Baring Brothers in 1995, Long-Term Capital Management in 1998, and Enron in 2001. In addition, the book explores the risks of the financial system as a whole and analyzes recent attempts to ensure greater stability within the system.
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Financial Derivatives and the Globalization of Risk 
by Edward Lipuma and Benjamin Lee, August 2004; ISBN 0822334186
The market for financial derivatives is far and away the largest and most powerful market in the world, and it is growing exponentially. In 1970 the yearly valuation of financial derivatives was only a few million dollars. By 1980 the sum had swollen to nearly one hundred million dollars. By 1990 it had climbed to almost one hundred billion dollars, and in 2000 it approached one hundred trillion. Created and sustained by a small number of European and American banks, corporations, and hedge funds, the derivatives market has an enormous impact on the economies of nations—particularly poorer nations—because it controls the price of money. Derivatives bought and sold by means of computer keystrokes in London and New York affect the price of food, clothing, and housing in Johannesburg, Kuala Lumpur, and Buenos Aires. Arguing that social theorists concerned with globalization must familiarize themselves with the mechanisms of a world economy based on the rapid circulation of capital, the authors offer a concise introduction to financial derivatives. They explain how derivatives are essentially wagers—often on the fluctuations of national currencies—based on models that aggregate and price risk. They describe how these financial instruments are changing the face of capitalism, undermining the power of nations and perpetrating a new and less visible form of domination on postcolonial societies. As they ask: How does one know about, let alone demonstrate against, an unlisted, virtual, offshore corporation that operates in an unregulated electronic space using a secret proprietary trading strategy to buy and sell arcane financial instruments? They provide a necessary look at the obscure but consequential role of financial derivatives in the global economy
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New Financial Order : Risk in the 21st Century, The 
by Robert J. Shiller; July 2004; ISBN 0691120110
The author is best known for arguing, as he did in Irrational Exuberance, that stock market movements do not reflect underlying economic reality and that the volatility of the market makes the financial system unstable. It is therefore a surprise to find him advocating vast expansion of financial derivative markets to reduce the economic risk faced by individuals and countries. According to the author, governments should swap 10% or more of their gross domestic product with other countries and administer income swaps among entire generations. Individuals should manage risk by trading in new financial instruments based on the lifetime income of their profession, the value of homes in their area or economic statistics like the unemployment rate or inflation rate. Money, he says, will be replaced by "indexed units of account" tied to things like wage rates and commodity prices. People will carry transponders to report on their every activity, with the results stored in "global risk information databases," containing all personal information, including genetic data but protected against unauthorized access. In this way, the government can eliminate the underground economy and tax evasion and individuals will enjoy more economic security. The author admits people don't think they want this additional security, but he advocates "psychological framing" to change their viewpoint. The book is certain to be controversial. Some will see a visionary, high-tech combination of the best of capitalism and socialism. Others will be reminded of Brave New World and 1984, with privacy, freedom and adventure traded for a totalitarian mediocrity founded on constant monitoring and propaganda.
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Quantitative Finance and Risk Management: A Physicist's Approach
by Jan W. Dash; September 2004; ISBN 9812387129
Written by a physicist with over 15 years of experience as a quant on Wall Street, this book treats a wide variety of topics. Presenting the theory and practice of quantitative finance and risk, it delves into the "how to" and "what it's like" aspects not covered in textbooks or research papers. Both standard and new results are presented. A "Technical Index" indicates the mathematical level — from zero to PhD mathematical background — for each section. The finance aspect in each section is self-contained. Real-life comments on "life as a quant" are included. This book is designed for scientists and engineers desiring to learn quantitative finance, and for quantitative analysts and finance graduate students. Parts will be of interest to research academics.
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Risk and Financial Management: Mathematical and Computational Methods
by Charles Tapiero; May 2004; ISBN 0470849088
Financial risk management has become a popular practice amongst financial institutions to protect against the adverse effects of uncertainty caused by fluctuations in interest rates, exchange rates, commodity prices, and equity prices. New financial instruments and mathematical techniques are continuously developed and introduced in financial practice. These techniques are being used by an increasing number of firms, traders and financial risk managers across various industries. This book confronts the many issues and controversies, and explains the fundamental concepts that underpin financial risk management. It provides a comprehensive introduction to the core topics of risk and financial management, adopts a pragmatic approach, focused on computational, rather than just theoretical, methods, and bridges the gap between theory and practice in financial risk management Includes coverage of utility theory, probability, options and derivatives, stochastic volatility and value at risk. The book includes extensive reference lists, applications and suggestions for further reading and is ideally suited to both students of mathematical finance with little background in economics and finance, and students of financial risk management, as well as finance practitioners requiring a clearer understanding of the mathematical and computational methods they use every day. It combines the required level of rigor, to support the theoretical developments, with a practical flavour through many examples and applications.
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Risk Measures for the 21st Century 
by Giorgio Szegö, Editor; April 2004; ISBN 0470861541
The last five years have witnessed a great momentum in the research into measures of financial risk. After many years of ad-hoc and non-consistent measures, now the problem is finally well formulated and some useful and very user-friendly solutions have been proposed. These new measures of risk should be of great interest for investors, financial institutions as well as for regulators. Under the editorship of Professor Giorgio Szego of the University of Rome "La Sapienza", this book is a collection of the revised and updated papers from prestigious international specialists who are leaders in their field, amongst whom is Robert Engle, a newly-announced Nobel prize-winner in finance. These authors bring a broad perspective across a wide selection of topics, ranging from the critique of some currently used methods, like Value at Risk, to the presentation of some correct risk measures and of some advanced application The book provides a detailed and up-to-date reference for researchers within academia, and risk managers or financial engineers.
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2003
Alternative Investments and the Mismanagement of Risk
by Dimitris Chorafas, Editor; May 2003; ISBN 1403906815
In this book the author has uncovered the hidden risks behind alternative investments through extensive research in the US, UK, Germany, France, Italy, Scandinavia, and Switzerland. He also provides solutions to the problems identified. This book is particularly important in light of recent company scandals.
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Business, Economic, and Financial Modeling with MATLAB
by Patrick L. Anderson; October 2003; ISBN 1584883480
Although there are hundreds of books about MATLAB, there are no books that fully explore its value in the field of business economics. Few books describe how geographic information can be explicitly incorporated in business decisions, or explain how sophisticated MATLAB applications can be provided to users via the Internet using a remote-hosted, thin client environment. This book responds by providing a unique overview of sophisticated business and financial applications. It describes models that have been developed for facing the challenges of finance, retail sales, taxes, location, economic impact, public policy, and other issues that executives, investors, and economists confront on a daily basis. It also offers groundbreaking insight into the many calculation and modeling tools that can be remotely hosted and run over the Internet, resulting in substantial user benefits and cost savings. Many techniques and models directly incorporate geographic information and GIS into the analysis in a way that was impossible until quite recently. Some techniques, such as fuzzy logic, retail sales, and Simulink economic impact models are described for the first time in print in this book. By following this blueprint, you will be able to direct tremendously higher amount of computational power toward the challenges that confront your business.
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Corporate Treasury and Cash Management
by Robert Cooper; November 2003; ISBN 1403916233
The book is an analysis of corporate treasury and cash management with the principal financial instruments used by the corporate treasurer. The objectives of the book are to describe how corporate treasury departments should establish a framework for the identity, measurement and management of risk and to describe how corporations should manage and control the operation of their treasury function. 
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Credit Risk: Measurement, Evaluation, and Management (Contributions to Economics)
by Georg Bol, Gholamreza Nakhaeizadeh, Svetlozar T. Rachev, Thomas Ridder, Karl-Heinz Vollmer, Editors; August 2003; ISBN 3790800546
New developments in measuring, evaluating and managing credit risk are discussed in this volume. Addressing both practitioners in the banking sector and research institutions, the book provides a manifold view on one of the most-discussed topics in finance. Among the subjects treated are important issues, such as: the consequences of the new Basel Capital Accord (Basel II), different applications of credit risk models, and new methodologies in rating and measuring credit portfolio risk. The volume provides an overview of recent developments as well as future trends: a state-of-the-art compendium in the area of credit risk.
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Extreme Values in Finance, Telecommunications, and the Environment
by Bärbel Finkenstädt and  Holger Rootzén; July 2003; ISBN 1584884118
Because of its potential to "predict the unpredictable," Extreme Value Theory (EVT) and its methodology are currently in the spotlight. EVT affords some insight into extreme tails and maxima where standard models have proved unreliable. This is achieved with semi-parametric models which only specify the distributional shapes of maxima or of extreme tails. The rationale for these models are very basic limit and stability arguments. Bringing together world-recognized authorities, this volumn puts to rest some of the myths and misconceptions of EVT. It explores the application, use, and theory of extreme values in the areas of finance, insurance, the environment, and telecommunications. It reviews the way in which this paradigm can answer questions in climatology, insurance, and finance, covers parts of univariate extreme values theory, and discusses estimation, diagnostics, and multivariate extremes. It presents issues in data network modeling and examines aspects of Value-at-Risk (VaR) and its estimation based on EVT. The final chapter gives an overview of multivariate extreme value distributions and the problem of measuring extremal dependencies. Considered one of the hottest ideas in risk management, EVT is designed to allow anyone faced with calculating risky situations to determine the chances of being hit with one or even multiple catastrophic events. It provides a statistical methodology for dealing with the prediction of events which are so rare that they appear impossible. Presenting information from the forefront of knowledge and research, this volumn brings you up to speed on current issues and techniques in EVT.
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Financial Market Risk: Measurement & Analysis (Routledge International Studies in Money and Banking)
by Cornelis A. Los; July 2003; ISBN 041527866X
This new book uses advanced signal processing technology to measure and analyze risk phenomena of the financial markets. It explains how to scientifically measure, analyze and manage non-stationarity and long-term time dependence (long memory) of financial market returns. It studies, in particular, financial crises in persistent financial markets, such as stock, bond and real estate market, and turbulence in anti–persistent financial markets, such as anchor currency markets. It uses Windowed Fourier and Wavelet Multiresolution Analysis to measure the degrees of persistence of these complex markets, by computing monofractal Hurst exponents and multifractal singularity spectra. It explains how and why financial crises and financial turbulence may occur in the various markets and why we may have to reconsider the current wave of term structure modeling based on affine models. It also uses these persistence measurements to improve the financial risk management of global investment funds, via numerical simulations of the nonlinear diffusion equations describing the underlying high frequency dynamic pricing processes.
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Financial Risk Manager Handbook, Second Edition
by Philippe Jorion; May 2003; ISBN 047143003X
This book is a comprehensive reference and training guide for financial risk management. Risk professionals looking to earn the Financial Risk Manager (FRM™) certification, corporate training programs, professors, and graduate students all rely on this book for the most comprehensive and up-to-date information on financial risk management. It's presented in a clear and consistent fashion and has become the core text for risk management training programs worldwide.
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Infectious Greed: How Deceit and Risk Corrupted the Financial Markets
by Frank Partnoy; April 2003; ISBN 0805072675
Frank Partnoy, criminal defense attorney, financial analyst, University of San Diego law professor, and best-selling author, tells the story of the rise of the trading instruments and corporate financial structures that now imperil U.S. economic health. Starting in the mid-1980s with the introduction of the first currency options and proto-derivatives and recounting such high-profile disasters as Barings Bank and Long-Term Capital Management, Partnoy traces a seamless progression to the dangerous manipulations that are coming to light today. He documents how each new level of financial risk, loss of control, and complexity obscured the sickness of the companies in question and pushed individuals to ever more ingenious deceptions. Although major corporations such as Enron, Global Crossing, and WorldCom are imploding all around us, prey to a greed-driven culture and to dubious or illegal corporate finance and accounting, and our financial system has reached a perilous crossroads, Partnoy offers a clear vision of how we reached epidemic stage and how we can regain control before further damage is done.
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An Introduction to Credit Risk Modeling
by Christian Bluhm, Ludger Overbeck, and Christoph Wagner; January 2003; ISBN 158488326X
This book supplies both the bricks and the mortar of risk management. In a gentle and concise lecture-note style, it introduces the fundamentals of credit risk management, provides a broad treatment of the related modeling theory and methods, and explores their application to credit portfolio securitization, credit risk in a trading portfolio, and credit derivatives risk. The presentation is thorough but refreshingly accessible, foregoing unnecessary technical details yet remaining mathematically precise. Whether you are a risk manager looking for a more quantitative approach to credit risk or you are planning a move from the academic arena to a career in professional credit risk management, this is the book you've been looking for. It will bring you quickly up to speed with information needed to resolve the questions and quandaries encountered in practice.
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The New Financial Order: Risk in the 21st Century
by Robert J. Shiller; April 2003; ISBN 0691091722
This compelling and important new book presents a fresh vision for hedging risk and securing our economic future. The author describes six fundamental ideas for using modern information technology and advanced financial theory to temper basic risks that have been ignored by risk management institutions--risks to the value of our jobs and our homes, to the vitality of our communities, and to the very stability of national economies. Informed by a comprehensive risk information database, this new financial order would include global markets for trading risks and exploiting myriad new financial opportunities, from inequality insurance to intergenerational social security. Just as developments in insuring risks to life, health, and catastrophe have given us a quality of life unimaginable a century ago, so the author's plan for securing crucial assets promises to substantially enrich our condition.
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Practical Risk Management: An Executive Guide to Avoiding Surprises and Losses
by Erik Banks and Richard Dunn; August 2003; ISBN 0470849673
This book is a concise, yet thorough, look at the world of financial risk management. The book is written by two senior banking professionals who have managed business and state- of-the-art financial risk in large and complex financial organisations, and who have also been in the middle of some of the most creative developments and turbulent times that the financial markets have ever seen. The book leverages these real experiences to offer useful and practical approaches to managing financial risk. It explores the challenges of risk management and how these can be overcome by focusing on governance and accountability within the framework of a clearly defined appetite for potential losses.
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Risk Analysis in Finance and Insurance
by Alexander Melnikov; August 2003; ISBN 1584884290
This book offers the first comprehensive and accessible introduction to the ideas, methods, and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risks. The author's approach is based on a methodology for estimating the present value of future payments given current financial, insurance, and other information, which leads to proper, practical definitions of the price of a financial contract, the premium for an insurance policy, and the reserve of an insurance company.
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Stochastic Processes with Applications to Finance
by Masaaki Kijima; January 2003; ISBN 1584882247
With an emphasis on applications to finance, including the pricing of corporate bonds and credit derivatives, the author explains the idea of stochastic processes as based on simple class of discrete processes. After deriving Ito's formula from Taylor's expansion, the theory of basic probability and probability distributions are explored. A general discrete-time model for the securities market is introduced in order to provide a basis for the understanding of the theory of random walks. Markov chains and Monte Carlo simulations are explored with an emphasis on financial engineering. Final chapters deal with Brownian motions, Poisson processes in continuous time, and the development of continuous-time securities market models.
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Theory of Financial Risk and Derivative Pricing : From Statistical Physics to Risk Management
by Jean-Philippe Bouchaud and Marc Potters; September 2003; ISBN 0521819164
Summarizing market data developments, some inspired by statistical physics, this book explains how to better predict the actual behavior of financial markets with respect to asset allocation, derivative pricing and hedging, and risk control. Risk control and derivative pricing are major concerns to financial institutions. The need for adequate statistical tools to measure and anticipate amplitude of potential moves of financial markets is clearly expressed, in particular for derivative markets. Classical theories, however, are based on assumptions leading to systematic (sometimes dramatic) underestimation of risks.
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Value-at-Risk: Theory and Practice
by Glyn A. Holton; March 2003; ISBN 0123540100
Value-at-risk (VaR) is a measure of market risk that has been widely adopted since the mid-1990s for use on trading floors. This is the first advanced book published on VaR. It describes how to design, implement, and use scalable production VaR measures on actual trading floors. It takes readers from the basics of VaR to the most advanced techniques, many of which have never been published in book form. Practical, detailed examples are drawn from markets around the world, including: Euro deposits, Pacific Basin equities, physical coffees, and North American natural gas. Real-world challenges relating to market data, portfolio mappings, multicollinearity, and intra-horizon events are addressed in detail. Exercises reinforce concepts and walk readers step-by-step through computations. Sophisticated techniques are fully disclosed, including: quadratic ("delta-gamma") methods for nonlinear portfolios, variance reduction (control variates and stratified sampling) for Monte Carlo VaR measures, principal component remappings, techniques to "fix" estimated covariance matrices that are not positive-definite, the Cornish-Fisher expansion, and orthogonal GARCH. Find more information at the book's companion website.
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2002
A.R.T. of Risk Management, The
by Christopher L. Culp; February 15, 2002 (first edition); ISBN 0471124958
With the number of innovative alternative risk transfer (ART) products available to corporations, brokers, derivatives participants, and other financial professionals increasing as capital and insurance markets converge, understanding risk management in a corporate finance context and the ability to use ART to control risk and raise new capital are becoming necessities in today’s business world. Written by a risk management professional who also teaches in a university graduate school of business, this book includes a foundation in corporate finance and the processes by which firms strive to find "optimal capital structure," a look at ART transactions and their impact on the capital structure of many actual companies, and an overview of risk control and capital structure functions. Read editorial reviews of this book.
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Iceberg Risk: An Adventure in Portfolio Theory
by Kent Osband; November 2002 (first edition, hardcover); ISBN 1587990687
The head of quantitative trading and risk management for Drawbridge Global Macro Fund, New York, blends story, charts, and math to expose the core flaw in current standard portfolio theory--which consistently underestimates the big, semi-hidden "iceberg risks" that cause markets to rocket crash--and then explains how to fix it by rebuilding portfolio theory on stronger foundations.
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Technology and Finance: Challenges for financial markets, business strategies and policy makers (Routledge Studies in the History of Economics)
by Morten Balling, Frank Lierman, A. W. Mullineux, Andrew Mullineux, editors; November 2002; ISBN 041529827X
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2001
The Economics of Risk and Time
by Christian Gollier; MIT Press; July 2001; ISBN 0262072157
This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. It focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics. This book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set.
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2000
Analyzing Banking Risk: A Framework for Assessing Corporate Governance and Financial Risk Management 
by Hennie Van Greuning and Sonja Brajovic Bratanovic; Getty Center for Education in the Arts; April 2000; ISBN 082134417X 
Major topics covered in this comprehensive volume include the changing bank environment, financial risk management and the responsibilities of key players, composition of the balance sheet, the importance of profitable banks, components of credit risk, the need for liquidity, market risk characteristics, origin and components of currency risk, and the bank supervisory process.
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Commercial Banking: The Management of Risk
by Donald R. Fraser, Benton E. Gup, James W. Kolari; Southwestern Pub. ; July 2000; ISBN 0324027184
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Financial Risk Management: A Practical Approach for Emerging Markets
by Jose A. Soler Ramos, Kim B. Staking, Alfonso Ayuso Calle, and pa Beato; March 2000; ISBN 1886938717
This comprehensive guide is designed to help businesses and financial institutions operating in emerging markets incorporate modern risk management techniques into their decisionmaking. It looks at market, credit, operational and legal risks and proposes solutions to risk management issues as they apply specifically to emerging markets. 
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Framework for Credit Risk Management
by Alastair Graham (Editor); July 2000; ISBN 1579581021
This series of financial management titles breaks new ground in simplicity, clarity, and ease of application on the complex subject of risk management--a crucial business tool. These are time-tested training tools, whether for classroom application or individual study. Each title in the series makes use of extensive case studies, adapted specifically for a sophisticated international audience.
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International Investment, Political Risk, and Growth
by Philipp Harms; May 2000; ISBN 0792378334 
Following substantial policy reforms in many countries, the past decade has been characterized by a remarkable increase of long-term private capital flows to the developing world. However, the bulk of these investments has concentrated on a few economies at the intermediate level of the international income distribution, while the large number of low-income countries has been mostly neglected by international investors. Starting from these observations, this book analyzes the potential growth effects of liberalizing investment regimes in developing economies and offers an explanation for the apparent bias of private capital flows towards middle-income countries. It demonstrates that the removal of investment barriers may liberate an economy from a vicious circle of poverty, unproductive saving, and low growth, and presents a novel approach to analyzing the role of political risk as a major impediment to greater private capital inflows. Offering a combination of theoretical models and empirical analysis, and discussing both the historical evidence and the recent literature, this book contributes to a better understanding of the determinants and consequences of international investment in developing countries. 
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Investing 101
by Kathy Kristof; September 2000; ISBN: 1-57660-044-0
The syndicated newspaper columnist who writes "Your Money," a column on personal finance, for the Los Angeles Times responds to readers' requests for understandable and reader-friendly investment information and advice in this primer, compiled from a series of investing tutorials. She investigates major psychological hurdles--including the fear of risk--that keep people from managing their money and investing it wisely.
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Measuring and Managing Operational Risks in Financial Institutions: Tools, Techniques, and Other Resources (Wiley Frontiers in Finance)
by Christopher Marshall; November 2000; ISBN 0471845957
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The Professional Handbook of Financial Risk Management
by Lev Borodovsky and Marc Lore, Editors; April 2000; ISBN 0750641118
This book provides a complete, practical reference book covering all aspects of financial risk management including an in-depth look at operational risk management, regulation, risk-based capital, and risk-adjusted performance measurement. It focuses on practical financial risk management techniques and solutions.
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Risk Management: Approaches for Fixed Income Markets
by Bennett W. Golub and Leo M. Tilman; June 2000; ISBN: 0471332119
Risk management plays an increasingly important role in the life of a financial institution. Valuable to anyone in both the asset management industry and academia, Risk Management applies the latest financial modeling techniques to the challenges of managing risk in fixed income markets. This work represents an intriguing blend of finance, economics, mathematics, and common sense and brings together a variety of approaches, including duration measures, principal components, value at risk, and hedge optimizations. Risk Management is written by two senior practitioners supporting the risk management function of a global money management firm.
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Risk Modeling for Determining Value and Decision Making
by Glenn R. Koller; May 2000; ISBN 1584881674
Risk or uncertainty assessments are used as aids to decision making in nearly every aspect of business, education, and government. As a follow-up to the author's best selling Risk Assessment and Decision Making in Business and Industry: A Practical Guide, Risk Modeling for Determining Value and Decision Making presents comprehensive examples of risk/uncertainty analyses from a broad range of applications: decision/option selection, manufacturing environmental assessment, pricing identification of business drivers, production sharing insurance, and scheduling and optimization investing.

Emphasizing value as the focus of risk assessment, this book offers discussions on how to make decisions using each risk model and what insights the model can provide. The presentation of each model also includes computer code that encapsulates its logic and direction on how to apply the model to other types of problems. The author devotes a chapter to techniques for consistently collecting data in an inconsistent world and offers another chapter on how to reflect the effect of "soft" issues in the value of an opportunity. The book's final chapters delineate the techniques and technologies used to perform risk/uncertainty analyses, including sections on distribution, Monte Carlo process, dependence, sensitivity analysis, time series analysis, and chance of failure. 
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Risk: The New Management Imperative in Finance
by James T. Gleason; April 2000; ISBN 1576600742
This book discusses how to identify types and levels of risk, measure and quantify market and credit risks, use derivatives effectively, and implement practical risk management procedures-globally!
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Theory of Financial Risks: From Statistical Physics to Risk Management
by Marc Potters and  Jean-Phillipe Bouchaud; January 2000; ISBN 0521782325
This book summarizes theoretical developments inspired by statistical physics in the description of the potential moves in financial markets, and its applications to derivative pricing and risk control. Takes a physicist's point of view to financial risk by comparing theory with experiment. 
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Value at Risk: The New Benchmark for Managing Financial Risk (2nd Edition)
by Philippe Jorion; August 2000; ISBN 0071355022
To accommodate sweeping global economic changes, the risk management field has evolved substantially since the first edition of this book, making this revised edition a must. Updates include a new chapter on liquidity risk, information on the latest risk instruments and the expanded derivatives market, recent developments in Monte Carlo methods, and more. This publication will help professional risk managers understand, and operate within, today's dynamic new risk environment. 
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1999
Credit Derivatives & the Management of Risk: Including Models for Credit Risk
edited by Dimitris N. Chorafas; September 1999; ISBN: 0735201048
Credit derivatives are revolutionizing the world of investment. But without a firm understanding of their mechanics and their bottom-line impact, these hot financial instruments can bring devastating losses. An international authority on risk management, Dr. Dimitris N. Chorafas draws on his own experience and the insights of 76 senior executives at 46 organizations worldwide to bring to the reader in a clear and comprehensive manner: the market for credit derivatives, the instruments which make trading in credit derivatives possible and the models which are applicable for the management of credit risk. Divided into three sections, the book first defines credit derivatives and examines their consequences. The second part provides an in-depth look at the instruments of credit derivatives and key underlying factors. And the final section focuses on the contributions of technology, with detailed models for evaluating and managing credit risk. The book contains many first, the reader won't find elsewhere: New markets for selling credit derivatives The rules of collateralization New instruments, such as derivatives of catastrophe insurance and hurricane derivatives Cover age of all currently available credit risk models A discussion of the work done by rocket scientists Emphasizing the need for risk management, exploring a range of opportunities in businesses across the board, and revealing exciting interactive possibilities, Dr. Chorafas empowers anyone who works with derivatives to get the best possible performance.

About the Author:  Dr. Dimitris N. Chorafas is an international management and financial consultant. His clients include major banks throughout Europe, as well as multinational corporations such as General Electric and Honeywell. A Fulbright scholar who received his doctorate at the Sorbonne, he has taught at Catholic University and lectures at colleges around the world. The author of more than a hundred books, some of which have been translated into 16 languages. He lives in Switzerland and France.

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Credit Risk Measurement : New Approaches to Value at Risk and Other Paradigms
by Anthony Saunders; September 1999; ISBN 0471350842
Addressing one of the hottest topics in finance today, this groundbreaking book offers an up-to-date overview of the latest credit market and financial innovations. Written by an expert with more than twenty years in the field, it provides comprehensive coverage of new models that measure credit risk of individuals and counter-party risk, as well as portfolios of loans. One reviewer called the book a "must read" for those in the credit industry, for banking regulators, and for researchers of financial institutions and markets.

About the author: Anthony Saunders (New York, NY) is the John M. Schiff Professor of Finance and Chair of the Department of Finance at the Stern School of Business at New York University. He is the editor of the Journal of Banking and Finance and the Journal of Financial Markets, Instruments, and Institutions. 
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Currency Risk Management
by Gary Shoup; April 1999; ISBN: 157958067X
This guidebook is written for company officials and public relations specialists who must communicate technical information to the local residents and media representatives.
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Derivatives : A Manager's Guide to the World's Most Powerful Financial Instruments
by Philip McBride Johnson; June 1999; ISBN: 007134506X
Today's executives and managers need derivatives to safeguard their companies from undue financial risk--but too many don't understand the rules! "Derivatives" provides easy-to-understand explanations on how these essential tools operate, and how executives unfamiliar with their dangers can cost their companies millions or even billions of dollars. From simple agricultural futures to the latest credit derivatives and swaps, it provides a comprehensive understanding of derivative products without confusing the reader with unnecessary mathematics.
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Dictionary of Financial Risk Management
by Gary L. Gastineau and Mark P. Kritzman; February 1999; ISBN: 1883249570
Gary Gastineau teams up again with Mark Kritzman of Windham Capital Management for the third edition of this classic reference tool designed for professional financial analysts and managers. Financial risk management is the measurement and the attempt to control trade-offs between risks and rewards in profit and non-profit enterprises. Risk management terminology comes by many markets: cash, forwards/futures, swaps, options - and from many disciplines: profitability and statistics, tax and financial accounting, and law. The vocabulary of the risk manager continues to expand with the creation of new products and new concepts. This volume carefully defines and illustrates all the words and phrases that working finance professionals need to know and understand. Dictionary of Financial Risk Management includes listings of common acronyms, profit/loss diagrams of new financial instruments, and extensive coverage of derivatives and quantitative techniques. While admittedly not an exhaustive, general reference guide, the authors provide comprehensive definitions of the key terms and concepts that working financial analysts need to know on an every-day basis.
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The Dynamic Option Selection System : Analyzing Markets and Managing Risk 
by Howard L. Simons; October 1999; ISBN 047132051X
A thoughtful, examination of options trading and risk management, this book presents a comprehensive guide to trading options.  Topics range from an overview of the options markets to selecting options at the best prices. Offering real-world trading applications, it examines and explains the role of price, price expectations, price insurance, and price analysis in the commodity and financial markets. Howard L. Simons (Glenview, IL) is Director of Research for FIMAT USA, Inc. where he is responsible for designing hedging strategies in the agricultural, energy, and financial markets, as well as developing value-added investment products. He is a contributing writer to Futures magazine, and an adjunct professor of finance at the Illinois Institute of Technology's Financial Markets and Trading Program.
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Financial Engineering for Risk Management
by Stuiz; 1999; ISBN: 0538861010
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Global Investment Risk Management : Protecting International Portfolios Against Currency, Interest Rate, Equity and Commodity Risk
edited by Ezra Zask; October 1999; ISBN: 0071353151
This book outlines hands-on systems, policies, and procedures that will help you take advantage of the returns available in overseas markets, while keeping closer track of the risks--not only those risks you can see but those you cannot. This practical guide to understanding and managing all aspects of international investment risk--from currency and equity risk to interest rate and commodity risk--includes:  * when, how, and why to use futures, options, swaps, and customized derivatives; emerging markets investment strategies to help you seize ground-floor opportunities--while hedging against financial meltdowns;  * cautionary tales of mega-billion dollar investment debacles--and how they could have been avoided;  * long-term global diversification strategies from asset allocation pioneer Roger C. Gibson;  * steps to design a detailed risk management program that fits your institution's risk and investment objectives;  * a detailed introduction and explanation of Value at Risk (VaR);  * Internet resources for valuable and cost-free global investment risk management information. 

Combining the knowledge and experience of 20 of the world's foremost global investment experts, this is the first guidebook that explains--in practical and easy-to-understand language--how to understand and hedge against ever-present international investment risks. It will help you expand the boundaries of your investment program, ensuring that your organization makes full use of the world of investment opportunities, while sensibly and strategically hedging against international investment risks. Contributors include: David Beers. Vinod Chandrashekaran. Jason Cook. Christopher L. Culp. Ray Dalio. Roger C. Gibson. Steve H. Hanke. Joanne M. Hill. Michael J. Howell. Richard Johnston. Ira G. Kawaller. Ron Mensink. Ranga Nathan. Andrea M.P. Neves. Todd E. Petzel. Steven A. Schoenfeld. Istvan Szoke. Lee Thomas. Maria E. Tsu. Richard Vogel. Ezra Zask

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Implementing Credit Derivatives : Strategies and Techniques for Using Credit Derivatives in Risk Management 
by Israel Nelken; June 1999; ISBN: 0070472378
These hands-on guidelines for effective credit derivatives use are written by one of the industry's most authoritative derivatives experts. By allowing investors to unbundle credit risk from underlying instruments such as loans, bonds, or swaps, credit derivatives protect bond holders and lenders from the ever-present danger of issuer or borrower default. This relatively new asset class is on course to become a $1 trillion market by 2000. Confusion over how to effectively use these volatile instruments has been rampant, and investors have had difficulty getting trusted information and guidelines. But in this book, Israel Nelken - one of the world's leading authorities on credit derivatives, exotic options, and financial engineering - goes beyond the basics and theory of credit derivatives to explain their use in everyday financial engineering practice. This comprehensive treatment provides hands-on explanations and case studies that cover: the structure and mechanics of alternative credit derivative products; the mechanics of creating, analyzing, and valuing structured credit derivatives; successful strategies for trading and hedging credit derivatives; important yet easily overlooked regulatory and legal issues; similarities between credit derivatives and other financial instruments; when to use credit derivatives versus CBOs or CLOs - and why; regulatory and economic capital aspects; and how to use credit derivatives as a uniquely effective hedge in today's volatile emerging markets.
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Money, Greed, and Risk : Why Financial Crises and Crashes Happen
by Charles R. Morris; August 1999; ISBN: 0812931734
Imagine the American republic of the 19th century: at the beginning, a sparsely populated agrarian nation where the president, Thomas Jefferson, fords rivers on horseback to make it to his own inauguration; at the end of the century, it's a land of densely populated cities, teeming with factories and linked by a network of railroads. This extraordinary transition--and all the economic upheavals that went along with it--is described in the opening chapters of Money, Greed, and Risk, and provides the historical context for a broader look at how booms and busts happen. Charles Morris tells the story of American financial markets by looking at its larger-than-life characters: Nicholas Biddle (the first U.S. central banker), Jay Gould (a much-hated financial genius who patched together a network of rail lines), steel magnate Andrew Carnegie, oil baron John D. Rockefeller, and, of course, J.P. Morgan, who made America the world's banker. By the time these men had all passed from public life, the U.S. economy had changed from a primitive system that could be bent to the will of a single financier, such as Morgan, to a sophisticated, highly regulated, world-dominating conglomeration of massive corporations.

Then along came Michael Milken and things changed again. Morris makes this chronicle entertaining and enlightening, although the reader is expected to have some previous knowledge of finance and history. He finds connections where we don't expect them--for example, linking the leverage tactics of junk-bond king Milken to early-19th-century "wildcat" bankers. He also makes it easy to understand the accordion-like expansions and contractions in the world's developing economies. Once you've read this book, you'll feel as if you've seen everything before.

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Patterns in the Dark: Understanding Risk and Financial Crisis with Complexity Theory
by Edgar E. Peters; April 1999; ISBN: 047123947X
Patterns in the Dark is that rare book that offers an entirely new perspective on an issue of ongoing concern to investors: the unpredictability of financial markets. In this groundbreaking work, leading investment strategist and authority on chaos theory, Edgar Peters makes accessible ways of understanding market behavior that-until now-were known only to specialists.  The book draws on a broad range of human knowledge and experience to clarify the behavior of a system that now operates on a global, 24-hour, and thoroughly interconnected basis. Peters illuminates the complex operation of the marketplace by including keen observations drawn from science, mathematics, and artistic creation as well as economics. His models include the social visions of the Austrian economists, Darwinian ideas of evolution, the laws of physics, and the creative risks of the artist. His meditations on financial markets weigh the effects of limitations vs. rules, risks vs. uncertainty, and order vs. chaos. As a guide to a world marketplace that has become increasingly complex and uncertain, Patterns in the Dark offers the investor a rich source of insight, illumination, and wisdom.
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Quantitative Modeling of Derivative Securities: From Theory to Practice
by Marco Avellaneda and Peter Laurence; September 1999; ISBN 1584880317
This book provides a bridge between Arbitrage-Pricing Theory and the implementation of models for pricing and hedging derivatives. It covers most of the standard models and contains an extensive discussion of the term-structure of interest rates and interest-rate derivatives. The book is loosely based on the materials of two courses -- Mathematics of Finance I and II -- taught at New York University. It will be very useful for students that want to enter this field or for professionals who wish to hone their quantitative skills. 
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Risk Management and Analysis : Measuring and Modelling Financial Risk
edited by Carol Alexander and John C. Hull; March 1999; ISBN: 0471979570
Carol Alexander has compiled an impressive list of contributors offering the most up-to-date techniques of risk management and the practical implementation of these techniques. The classic Handbook of Risk Management and Analysis has been updated and expanded into two volumes--Risk Measurement and Management and Markets and Products.
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Risk Management and Regulation in Banking : Proceedings of the International Conference on Risk Management and Regulation in Banking
edited by Dan Galai; November 1999; ISBN: 0792384830
Over the last fifty years, increasingly sophisticated risk measurement and management techniques have revolutionized the field of finance. More recently, the globalization of financial markets and policy changes in the regulation of financial institutions have impacted upon how commercial banks manage risk. The widespread implications of these fundamental changes prompted an international conference held in May, 1997, devoted to the topic of risk management and regulation in banking. This book contains the formal papers and the panel discussions that comprise the conference proceedings, and thus collects some of the latest research on managing financial market risk by top scholars, policymakers, and high-ranking banking officials from around the world.
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1998
Credit Risk Modeling : Design and Application
edited by Elizabeth Mays and Christopher Hudson; December 1998; ISBN 0814404758
This is an indispensable guide for credit professionals and risk managers who want to understand and implement modeling techniques for increased profitability. With contributions from 15 experts in credit risk management, Credit Risk Modeling provides effective, practical guidance to building and implementing models for both evaluating applications and managing existing portfolios.

Key topics include: 
* implementing an application scoring system 
* behavior modeling to manage portfolios 
* incorporating economic factors 
* statistical techniques for choosing the optimal credit risk model 
* how to set cutoffs and override rules 
* modeling for the sub-prime market 
* how to evaluate and monitor credit models.
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Managing Credit Risk : The Next Great Financial Challenge
by y John B. Caouette, Edward I. Altman, and Paul Narayanan; October 1998; ISBN 0471111899
This essential resource draws upon financial insights derived from the S&L crisis of the 80s, as well as newly emerging financial practices in today's derivatives markets, to illustrate today's most innovative and homogenized approaches to controlling credit risk. The author exhaustively reviews every important, emerging technique of credit risk management and evaluates its impact on today's global financial markets. 
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Risk Management in Banking
by Joel Bessis; January 1998; ISBN 
Risk management and efficient asset allocation are the watch-words of modern banking, not only for profitability and security, but also to comply with the increasingly stringent international regulations laid down by the Bank of International Settlements. This book examines all aspects of financial risk management in banking-from global considerations right down to the management of a particular profit center. It details the very latest techniques including VAR and is up-to-date with the latest regulations on capital adequacy.
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1997
Derivatives Handbook : Risk Management and Control
edited by Robert J. Schwartz and Clifford W. Smith; May 1997; ISBN 0471157651
Two of the field's leading experts bring together the best cutting-edge thinking on derivatives to provide a comprehensive and accessible resource on risk management.   This handbook presents a cogent, clear-eyed, and fresh perspective with an all-star roster of leading practitioners, academics, attorneys, accountants, consultants, and professionals who share their invaluable insights. These seasoned players provide incisive discussions on a wide range of topics, including Risk and Regulation in Derivatives Markets, Credit Derivatives, and Minimizing Operations Risk. Plus, there are comprehensive sections dedicated to case law and legal risk, risk measurement, risk oversight, regulation, and transparency and disclosure.  For further guidance, Derivatives Handbook provides a concise survey of literature on some of the most significant scholarship in recent years. This book contains a wealth of probing, informative articles for not only finance professionals, but also for senior managers, corporate boards, lawyers, students, and anyone with an interest in the financial markets.
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