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An Overview On State Of Knowledge Of Risk And Risk Management In Economics Fields

Author

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  • Mirela NICHITA

    (Bucharest University of Economic Studies, Romania)

Abstract

The purpose of this paper is to present a history and an evolution of concepts of risk and risk management in economic, respectively financial fields, highlighting the usefulness (or not) and complexity of tools for risk assessment developed over time. The main objective of risk management is to reduce costs and increase the value of company and stakeholders gains; also, a coherent risk management strategy may improve entity capital structure which will derive in a healthy financing policy. The risk and risk management field has been developed merely after the second world war and creates the favourable context of a new C position in business chart – Chief Risk Officer. The paper will explore the etymology of term risk correlated with the uncertainty. Research on risk and risk management is not possible without taking into account the derivatives market.

Suggested Citation

  • Mirela NICHITA, 2015. "An Overview On State Of Knowledge Of Risk And Risk Management In Economics Fields," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 7, pages 423-430, April.
    • Handle: RePEc:cmj:seapas:y:2015:i:7:p:423-430
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    References listed on IDEAS

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    Cited by:

    1. Mirela Nichita & Carmen Turlea, 2015. "Approach Regarding a Framework for Risk Reporting in Order to Enhance the Related Good Practices," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(40), pages 1108-1108, August.
    2. Andreea Fortuna Schiopu, 2015. "Use of Emotional Labor in Day-to-Day Interactions with Managers and Colleagues," Proceedings of International Academic Conferences 2503895, International Institute of Social and Economic Sciences.

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    More about this item

    Keywords

    Risk; Risk management; Evolution; Risk management tools; Chief Risk Officers;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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