Risk Management : Fundamentals, Theory, and Practice in Asia
Language: English
Published by Springer 2022-11, 2022
Series: Book 116 of 190 - Springer Texts in Business and Economics
- Softcover
- New
Seller: Chiron Media, Wallingford, United KingdomChiron Media
AbeBooks seller since August 2, 2010
Condition: New
£ 73.92
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Add to basketSeller Inventory # 6666-IUK-9789811634703
- Title
- Risk Management : Fundamentals, Theory, and Practice in Asia
- Author
- Lee, Hongmu
- Publisher
- Springer 2022-11
- Publication year
- 2022
- Condition
- New
- Binding
- PF
- Language
- English
- ISBN 10
- 981163470X
- ISBN 13
- 9789811634703
- Series
- Book 116 of 190: Springer Texts in Business and Economics
This book outlines risk management theory systematically and comprehensively while distinguishing it from academic fields such as insurance theory. In addition, the book builds a risk financing theory that is independent of insurance theory.
Until now, risk management (RM) theory has been discussed while the framework of the theory has remained unclear. However, this book, unlike previous books of this type, provides risk management theory after presenting a framework for it.
Enterprise risk management (ERM) is seen differently depending on one’s position. For accountants, it is a means for internal control to prevent accounting fraud, whereas for financial institutions, it quantifies the risk that administrators can take to meet supervisory standards. Therefore, most of the ERM outlines are written to suit the intended uses or topics, with no systematic RM overviews. This book discusses a systematic RM theory linked to the framework of it, unlike previous books that were written according to topic.
After the Enron scandal in December 2001 and WorldCom accounting fraud in June 2002, several laws were enacted or revised throughout the world, such as the SOX Act(Sarbanes-Oxley Act) in the United States and the Financial Instruments and Exchange Law and Companies Act in Japan. In this process, the COSO(Committee of Sponsoring Organizations of Treadway Commission) published their ERM framework, while the ISO (International Organization for Standardization) published their RM framework. The author believes that the competition between these frameworks was an opportunity to systematize RM theory and greatly develop it as an independent discipline from insurance.
On the other hand, the Great East Japan Earthquake that occurred on March 11, 2011, caused enormous losses. Also, because pandemics and cyber risks are increasing, businesses must have a comprehensive and systematic ERM for these risks associated with their business activities
"Synopsis" may belong to another edition of this title.
About the Author
Hongmu Lee is a professor of risk management and insurance at Waseda University, Tokyo, where he received his Ph.D.
He is also the president of the Insurance and Risk Management Institute of Waseda University. The institute aims to carry out research internationally in cooperation with industry and the academic world on insurance and risk management. He has authored several books and articles in academic and professional journals, mainly in Korea and Japan.
"About the title" may belong to another edition of this title.
Chiron Media
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