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Title | Risk Management and Behavioral Finance |
Authors |
Prince, E.T.
|
ORCID | |
Keywords |
ризик риск risk поведінкові фінанси поведенческие финансы behavioral finance фінансовий підпис финансовая подпись financial signature пізнавальні упередження когнитивные предубеждения cognitive biases ірраціональність иррациональность irrationality |
Type | Article |
Date of Issue | 2018 |
URI | http://essuir.sumdu.edu.ua/handle/123456789/69947 |
Publisher | Sumy State University |
License | |
Citation | E. T. Prince. (2018). Risk Management and Behavioral Finance. Financial Markets, Institutions and Risks, 2(2), 5-21. DOI: 10.21272/fmir.2(2).5-21.2018 |
Abstract |
Risk management is still dated in concept. It assumes a compliance approach. Current risk management approaches have failed in predicting both macro-economic and micro-economic setbacks and disasters. This is because financial metrics, the basis for modern risk metrics, are actually a lagging indicator of risk, not a leading indicator. Risk management needs a new paradigm which is based on leading indicators and which can therefore predict such problems. Behavioral finance provides the framework for a new paradigm for risk management. |
Appears in Collections: |
Financial Markets, Institutions and Risks (FMIR) |
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File | Size | Format | Downloads |
---|---|---|---|
Prince_Risk_Management.pdf | 820,44 kB | Adobe PDF | 2077671507 |
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