Purpose – Value-at-risk (VaR) is a risk measure of potential loss on a specific portfolio. The main uses of VaR are in risk management and financial reporting. Researchers are continuously looking for new and efficient ways to evaluate VaR, and the 2008 financial crisis has given further...

Purpose – The purpose of this paper is to provide a systematic literature review of available research evidence on risk management in small and medium-sized enterprises (SMEs). The authors aim to reveal ambiguities, gaps and contradictions in the literature, and to sketch avenues for further...

Purpose – The purpose of this paper is to explore the extent of the so-called “small-sample problem” within quantitative exchange-rate risk management. Design/methodology/approach – The authors take a closer look at the frequency distribution of nominal price changes in the European...

Purpose – The purpose of this paper is to provide an insight into the differences in the risk management practices of Islamic financial institutions (IFI) and conventional financial institutions (CFI) in Pakistan. Design/methodology/approach – The study makes use of primary data collection...

Purpose – The purpose of this paper is to present a simulation‐based approach for modeling multi‐year non‐life insurance risk in internal risk models. Strategic management in an insurance company requires a multi‐year time horizon for economic decision making, for example, in the...

Purpose – The purpose of this paper is to investigate post‐crisis measures banks have adopted in a bid to manage liquidity risk. It is based on the fact that the financial liquidity market was greatly affected during the recent economic turmoil and financial meltdown. During the crisis,...

Purpose – The purpose of this paper is to examine the risk management practices of life assurance firms and non‐life insurance firms. Design/methodology/approach – Through a comparative case study methodology, the study assesses the state of risk management in both life assurance companies...

Purpose – The purpose of this paper is to illustrate how risk capital can be calculated and allocated in a multi‐year context. This is an important issue, since strategic management and decision making within insurance companies require a multi‐year time horizon (instead of a one‐year...

Purpose – The purpose of this paper is to explain the antecedents of environmental uncertainty in management using a historical framework. The goal of developing passion and compassion in management practice and research cannot be achieved unless a better understanding is developed of the main...