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Procese decizionale în cadrul managementului riscurilor
[Decision – making Processes in the Risk Management]

Author

Listed:
  • Stefanescu, Razvan
  • Dumitriu, Ramona

Abstract

This paper approaches the risk management as a decision making process in which the best solution to an exposure is found and implemented. Such a process includes five stages: identifying the risk, assessment of exposure, analysis of the alternatives to deal with the exposure, adopting the optimum alternative and the implementation of the adopted solution.

Suggested Citation

  • Stefanescu, Razvan & Dumitriu, Ramona, 2013. "Procese decizionale în cadrul managementului riscurilor
    [Decision – making Processes in the Risk Management]
    ," MPRA Paper 50754, University Library of Munich, Germany, revised 17 Oct 2013.
  • Handle: RePEc:pra:mprapa:50754
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/50754/1/MPRA_paper_50754.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. David E. Bell, 1983. "Risk Premiums for Decision Regret," Management Science, INFORMS, vol. 29(10), pages 1156-1166, October.
    2. Kenneth J. Arrow, 1974. "The Use of Unbounded Utility Functions in Expected-Utility Maximization: Response," The Quarterly Journal of Economics, Oxford University Press, vol. 88(1), pages 136-138.
    3. Shojai, Shahin & Feiger, George, 2010. "Economists’ hubris – the case of risk management," Journal of Financial Transformation, Capco Institute, vol. 28, pages 27-35.
    4. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279-279.
    5. James G. March, 1978. "Bounded Rationality, Ambiguity, and the Engineering of Choice," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 587-608, Autumn.
    6. Kent D Miller, 1992. "A Framework for Integrated Risk Management in International Business," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 23(2), pages 311-331, June.
    7. James G. March & Zur Shapira, 1987. "Managerial Perspectives on Risk and Risk Taking," Management Science, INFORMS, vol. 33(11), pages 1404-1418, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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    as


    Cited by:

    1. Stefanescu, Razvan & Dumitriu, Ramona, 2015. "Alegerea soluţiilor pentru expunerile faţă de risc
      [Choosing solutions to risk exposures]
      ," MPRA Paper 65074, University Library of Munich, Germany.

    More about this item

    Keywords

    Risk Management; Uncertainty; Business Environment; Decision Making Process;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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