The subject of unobservable variables encompasses this thesis. These latent (i.e., unobservable) variables must be inferred using statistical models or observable proxies. The objectives of my doctoral thesis are to develop and test new statistical models to infer these variables and link them...

The outset for this thesis is the contemporary risk management concept of Enterprise Risk Management (ERM). ERM has for the last 20 years been advocated as a technology of managing with a potential impact for the value creation in corporate life. The idea of managing or controlling risk is...