Risk Behaviour and Risk Management in Business Life

Risk Behaviour and Risk Management in Business Life

by Bo Green (Editor)

Paperback(Softcover reprint of hardcover 1st ed. 2000)

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Risk Behaviour and Risk Management in Business Life by Bo Green

Risk behaviour and risk management in business life influence a wide range of fields in which only a very limited amount of research has been undertaken. These topics have often been treated as if they were theoretically and practically isolated from other fields, the so called risk archipelago problem. What is actually needed is another focus, in which the problem of risk is treated as a central theme. The demand for interdisciplinary research means that there is a need for crossing scientific boundaries. In approaching risk problems from a holistic perspective there is also a parallel need for linking the scientific and the business worlds. Researchers must work closely together in concrete multidisciplinary research projects and in co-operation with the industrial world in seeking out and solving research problems of importance.
This book contains selected and re-written papers, and key-note speeches presented in a risk-seminar that Stockholm University organised in June 1997. The seminar, in which 200 researchers and practitioners from 26 countries participated, was divided into four main topic areas: Risk Assessment and Credit Management, Psychology in Business Life, Risk Management in Small Firms and Law and Business Risk.
In writing this book, the editor invited eight professors from four continents to assist him in introducing the reader to the different and scientific disciplines and in explaining the need for interdisciplinary, multidisciplinary and cross-disciplinary risk research projects. The book consists of eight chapters and the target groups are researchers, doctoral and master students at universities and business people working in the risk management area.

Product Details

ISBN-13: 9789048152827
Publisher: Springer Netherlands
Publication date: 12/10/2010
Edition description: Softcover reprint of hardcover 1st ed. 2000
Pages: 372
Product dimensions: 6.10(w) x 9.25(h) x 0.03(d)

About the Author

Bo Green is director of an interdisciplinary risk research programme at Stockholm University. He has been chief executive officer in a group of European companies, management consultant and policy adviser in business development and investigator for the Swedish government. He has unique knowledge and experience in the field of analysis of complex systems related to business condition. During 1990-1994 he chaired a national project on risk management, in which 25 researchers from different disciplines at Swedish universities participated.

Table of Contents

1: Cross the borders. 1.1. Introduction. 1.2. A case of communication failure in a socio-technical system - The Kegworth incident. 1.3. Multidisciplinary research into risk and risk management. 1.4. Interdisciplinary risk research in credit. 1.5. Reflections on the multidisciplinary nature of research into risk in banking. 1.6. Reflections on the need for an interdisciplinary approach to the study of insolvency risk. 1.7. Reflections on how to introduce doctoral students to the complex scientific field of risky business. 1.8. Psychological perspectives on risk management. 1.9. Why is it important for researchers to study complex systems in our world from an interdisciplinary approach? 1.10. Reflections on the need for a holistic view in research projects. 1.11. Analysis of complex systems related to business conditions. 2: Risk assessment and credit management. 2.1. Introduction. 2.2. Risk measurement and management - implementing quantitative models assessing capital at risk in a traditional banking environment. 2.3. The decentralised loan organisation. 2.4. A credit intelligence approach to service design in banks. 2.5. Knowledge-based decision systems for the management of small business risks. 2.6. Trade credit in Europe today - Credit cultures, payment morality and legal systems. 2.7. Demand for credit and influences on payment behaviour. 2.8. The next property cycle: a survival kit for banks. 2.9. Uncertainty in real estate appraisals. 2.10. Leasing and property risk: The South Australian experience. 3: Psychology in business life. 3.1. Introduction. 3.2. The development of conversation-based process tracing methods for the study of naturalistic decision making. 3.3. Reflective versus nonreflective decision making: The case of credit decisions in business. 3.4. Trust between entrepreneurs and external actors. 3.5. Social/psychological barriers to successful management of technological innovation. 3.6. The impact of non-financial factors on the decision making by credit assessors dealing with the threat of insolvency. 3.7. Business risks in service companies due to poor temporal assessment. 3.8. Task characteristics and expertise. 3.9. Why do experts disagree? 4: Innovation, growth and entrepreneurship. 4.1. Introduction. 4.2. Towards a better understanding of risk in entrepreneurial decision making. 4.3. The characteristics of high-growth firms and their job contribution. 4.4. The assessment of business opportunities &endash; A comparison between informal investors and institutional venture capitalists. 4.5. Innovation strategy and management control systems: linking long-term objectives with short-term actions. 5: Loan guarantee schemes in risk management. 5.1. Introduction. 5.2. European union enterprise policy and loan guarantee schemes. 5.3. European loan guarantee schemes. 5.4. Government guarantee schemes in Europe: Who has them? Who pays? Who gains? 6: Insolvency risks and the role of insolvency law. 6.1. Introduction. 6.2. Does a Reorganisation Law improve the efficiency of the Insolvency Law? The Finnish experience. 6.3. Should we abolish Chapter 11: Evidence from Canada. 6.4. Cash Auction Bankruptcy: Summary of the Swedish evidence. 6.5. Methodological issues in bankruptcy prediction. 6.6. Are mandatory bankruptcy auctions more efficient? 6.7. Crisis and recovery: Post-Recessional changes in UK bank lending practice. 6.8. Reflections on how the bankruptcy system as a whole functions. 7: Insurable risks in business. 7.1. Introduction. 7.2. Losses of receivables &endash; a threat to small businesses. The role of a credit insurance company in providing risk coverage for growth companies. 7.3. A legislative framework for risk-taking built on insurance experience. 7.4. The limits of insurability and its application to business risks. 8: The role of the supervisory authorities in the financial system. 8.1. Introduction. 8.2. The role of the central bank. 8.3. The role of the supervisory authority in the financial system. 8.4. The regulator's attitude to risk taking in the financial system. 8.5. Risk limitations for financial institutions and the need for venture capital in new and innovative enterprises. 8.6. The banking crisis and the challenge for regulation. 8.7. The role of the banks in the financial system. References.

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