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Managerial Risk Accounting and Control – A German perspective


  • Winter, Peter


Recent developments have sparked a renewed interest concerning risk related topics in nonfinancial companies. Risk management issues directly touch the domain of management accounting and control. In Germany, topics related to the support of corporate or enterprise risk management are commonly discussed under the label of “Risikocontrolling”, which will be translated as Managerial Risk Accounting and Control. However, the conceptual foundation of a risk oriented management accounting respectively managerial accounting for the purpose of decision-facilitation and decision-influence pertaining to risk management is neither well developed nor well diffused and integrated. Therefore, the development of special risk oriented management accounting instruments is considered necessary. The paper aims at giving an overview of the subject and development of “Risikocontrolling” in Germany as well as discussing the necessity and (measurement and behavioural) problems of managerial risk accounting. Finally, a proposal for the design of managerial risk accounting systems will be presented.

Suggested Citation

  • Winter, Peter, 2007. "Managerial Risk Accounting and Control – A German perspective," MPRA Paper 8185, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:8185

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    References listed on IDEAS

    1. Peter Tufano, 1998. "Agency Costs of Corporate Risk Management," Financial Management, Financial Management Association, vol. 27(1), Spring.
    2. Thomas Ahrens & Christopher Chapman, 2000. "Occupational identity of management accountants in Britain and Germany," European Accounting Review, Taylor & Francis Journals, vol. 9(4), pages 477-498.
    3. Sprinkle, Geoffrey B., 2003. "Perspectives on experimental research in managerial accounting," Accounting, Organizations and Society, Elsevier, vol. 28(2-3), pages 287-318.
    4. James G. March & Zur Shapira, 1987. "Managerial Perspectives on Risk and Risk Taking," Management Science, INFORMS, vol. 33(11), pages 1404-1418, November.
    5. René M. Stulz, 1996. "Rethinking Risk Management," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(3), pages 8-25.
    6. Acerbi, Carlo & Tasche, Dirk, 2002. "On the coherence of expected shortfall," Journal of Banking & Finance, Elsevier, vol. 26(7), pages 1487-1503, July.
    7. Philippe Artzner & Freddy Delbaen & Jean-Marc Eber & David Heath, 1999. "Coherent Measures of Risk," Mathematical Finance, Wiley Blackwell, vol. 9(3), pages 203-228.
    8. Carlo Acerbi & Dirk Tasche, 2001. "Expected Shortfall: a natural coherent alternative to Value at Risk," Papers cond-mat/0105191,
    9. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    10. Carlo Acerbi & Dirk Tasche, 2002. "Expected Shortfall: A Natural Coherent Alternative to Value at Risk," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 31(2), pages 379-388, July.
    11. repec:bla:joares:v:19:y:1981:i:1:p:208-231 is not listed on IDEAS
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    More about this item


    Controlling; Germany; Management Accounting; Risk; Risk Management; Risk Measurement;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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