Corporate Risk Management as a Lever for Shareholder Value Creation
AbstractThis paper presents a comprehensive review of positive theories and their empirical evidence regarding the contibutionof corporate risk management to shareholder value. It is argued that vecause of realistic capital market imperfections, such as agency costs, transaction costs, taxes, and increasing costs of external financing, risk management on the firm level represents a means to increase firm value to the benefit of the shareholders.
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Bibliographic InfoPaper provided by Southern California - School of Business Administration in its series Papers with number 00-58.
Length: 81 pages
Date of creation: 2000
Date of revision:
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Postal: University of Southern California, School of BusinessAdministration, Los Angeles, CA 90089-1421.
Web page: http://www.marshall.usc.edu/
More information through EDIRC
MANAGEMENT ; RISK ; COSTS ; TAXES;
Other versions of this item:
- Sohnke M. Bartram, 2001. "Corporate Risk Management as a Lever for Shareholder Value Creation," Finance 0108002, EconWPA, revised 10 Aug 2001.
- G3 - Financial Economics - - Corporate Finance and Governance
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- F3 - International Economics - - International Finance
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