A systemic approach for managing extreme risk events-dynamic financial analysis
Journal Title: Manager Journal - Year 2011, Vol 14, Issue
Abstract
Following the Black Swan logic, it often happens that what we do not know becomes more relevant that what we (believe to) know. The management of extreme risks falls under this paradigm in the sense that it cannot be limited to a static approach based only on objective and easily quantifiable variables. Making appeal to the operational tools developed primarily for the insurance industry, the present paper aims to investigate how dynamic financial analysis (DFA) can be used within the framework of extreme risk events.
Authors and Affiliations
Rodica Ianole, Ioana-Julieta Josan, Marian Zulean
Keywords
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