There are strategies for continuous monitoring of the level of risk facing the entity. Their use causes a reduction in the firm ‘s vulnerability to environmental conditions , and a reduction in losses that might occur if the risk .

Environmental risk for the majority of companies is the deterioration of bottom-line performance from: increased regulation on energy usage, eroded reputation, brand name and market share from an environmental incident, increased operating costs from the effects of global warming, higher fuel...

Research papers in empirical finance and financial econometrics are among the most widely cited, downloaded and viewed articles in the discipline of Finance. The special issue presents several papers by leading scholars in the field on “Recent Developments in Financial Economics and...

In this paper, we develop a new capital adequacy buffer model (CABM) which is sensitive to dynamic economic circumstances. The model, which measures additional bank capital required to compensate for fluctuating credit risk, is a novel combination of the Merton structural model which measures...

We show that any objective risk measurement algorithm mandated by central banks for regulated financial entities will result in more risk being taken by those financial entities than would otherwise be the case. Furthermore, the risks taken by the regulated financial entities are far more...

The implementation and sustainment of High Reliability Organization (HRO) operations for large organizations, such as NASA, is problematic. Using NASA as a case study, the consistency of the intrinsic objectives of large public organizations is assessed with respect to HROs. A novel HRO model is...

The paper aims at providing insight to the understanding, application and utility of Risk Maturity Models that represent a valid tool supporting risk management procedures in organisations. Founded on thorough conceptual analysis of available literature and applicative studies, the paper...

During a mass casualty incident (MCI), to which one of several area hospitals should each victim be sent? These decisions depend on resource availability (both transport and care) and the survival probabilities of patients. This paper focuses on the critical time period immediately following the...

We test the hypothesis that practicing enterprise risk management (ERM) reduces firms’ cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...