Purpose: Risk management has grown increasingly popular in recent years due to the recognition that risk should be as actively managed as performance. A key objective of risk management is to evaluate performance in the context of the relative volatility in which business operations are...

Purpose: This paper illustrates the use of the modern Graham and Dodd valuation methodology as a corporate Mamp;A tool by way of case study.Design/methodology/approach: The paper presents a case study of the 1995 Berkshire Hathaway acquisition of GEICO and draws on previously published Graham...