Strategic Risk Taking A Framework for Risk Management 1st Edition by Aswath Damodaran ISBN 0137043775 9780137043774

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Product details:

ISBN 10: 0137043775

ISBN 13: 978-0137043774

Author:  Aswath Damodaran 

Strategic Risk Taking: A Framework for Risk Management 1st Edition: 

In business and investing, risk has traditionally been viewed negatively: investors and companies can lose money due to risk and therefore we typically penalize companies for taking risks. That’s why most books on risk management focus strictly on hedging or mitigating risk.

But the enterprise’s relationship with risk should be far more nuanced. Great companies become great because they seek out and exploit intelligent risks, not because they avoid all risk. Strategic Risk Taking: A Framework for Risk Management is the first book to take this broader view, encompassing both risk hedging at one end of the spectrum and strategic risk taking on the other.

World-renowned financial pioneer Aswath Damodaran–one of BusinessWeek’s top 12 business school professors–is singularly well positioned to take this strategic view. Here, Damodaran helps you separate good risk (opportunities) from bad risk (threats), showing how to utilize the former while protecting yourself against the latter. He introduces powerful financial tools for evaluating risk, and demonstrates how to draw on other disciplines to make these tools even more effective.

Simply put, Damodaran has written the first book that helps you use risk to increase firm value, drive higher growth and returns, and create real competitive advantage.

 

Strategic Risk Taking: A Framework for Risk Management 1st Edition Table of contents:

• Chapters 1–4: The Economists’ View of Risk Aversion and the Behavioral Response
  • A Very Short History of Risk
  • Defining Risk
  • Dealing with Risk
  • Risk Management
  • Conclusion
• The Duality of Risk
• I Am Rich, But Am I Happy? Utility and Wealth
• Measuring Risk Aversion
• Consequences of Views on Risk
• Conclusion
• General Principles
• Evidence on Risk Aversion
• Propositions about Risk Aversion
• Conclusion
• Fate and Divine Providence
• Estimating Probabilities: The First Step to Quantifying Risk
• Sampling, The Normal Distributions, and Updating
• The Insurance View of Risk
• Financial Assets and the Advent of Statistical Risk Measures
• The Markowitz Revolution
• Introducing the Riskless Asset—The Capital Asset Pricing Model (CAPM) Arrives
• Mean Variance Challenged
• Data Power: Arbitrage Pricing and Multifactor Models
• Conclusion
• Chapters 5–8: Risk Assessment: Tools and Techniques
  • Discounted Cash Flow Approaches
  • Post-Valuation Risk Adjustment
  • Relative Valuation Approaches
  • The Practice of Risk Adjustment
  • Conclusion
  • Fixed Discount
  • Firm-Specific Discount
  • Synthetic Bid-Ask Spread
  • Option-Based Discount
  • Scenario Analysis
  • Decision Trees
  • Simulations
  • An Overall Assessment of Probabilistic Risk Assessment Approaches
  • Conclusion
  • Fitting the Distribution
  • Tests for Fit
  • Tests of Normality
  • Conclusion
• What Is VaR?
• A Short History of VaR
• Measuring VaR
• Limitations of VaR
• Extensions of VaR
• VaR as a Risk Assessment Tool
• Conclusion
• The Essence of Real Options
• Real Options, Risk-Adjusted Value, and Probabilistic Assessments
• Real Option Examples
• Caveats on Real Options
• Real Options in a Risk Management Framework
• Conclusion
• Option Payoffs
• Determinants of Option Value
• Option Pricing Models
• Chapters 9–12: Risk Management: The Big Picture
  • Risk Management: The Big Picture
  • Risk and Value: The Conventional View
  • Expanding the Analysis of Risk
  • A Final Assessment of Risk Management
  • Developing a Risk Management Strategy
  • Conclusion
  • Risk Profile
  • To Hedge or Not to Hedge?
  • Alternative Techniques for Hedging Risk
  • Conclusion
  • Why Exploit Risk?
  • How Do You Exploit Risk?
  • Building the Risk-Taking Organization
  • Conclusion

 

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