Risk Management Failures: What Are They and When Do They Happen?
The difficulties of the past year have convinced many observers that current risk management practices are deeply flawed, and that such flaws have contributed greatly to the current financial crisis. In this paper, the author challenges this view by showing the need to distinguish between flawed assessments by risk managers and corporate risk-taking decisions that, although resulting in losses, were reasonable at the time they were made. Copyright (c) 2008 Morgan Stanley.
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Volume (Year): 20 (2008)
Issue (Month): 4 ()
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