Risk identification and default time analysis of corporate bonds

Computer programs are now available in various laboratories for the indexing and simulation of transmission electron diffraction patterns. Although these programs address themselves to the solution of various aspects of the indexing and simulation process, the ultimate goal is to perform real time diffraction pattern analysis directly off of the imaging screen of the transmission electron microscope. The program to be described in this paper represents one step prior to real time analysis. It involves the combination of two programs, described in an earlier paper(l), into a single program for use on an interactive basis with a minicomputer. In our case, the minicomputer is an INTERDATA 70 equipped with a Tektronix 4010-1 graphical display terminal and hard copy unit.A simplified flow diagram of the combined program, written in Fortran IV, is shown in Figure 1. It consists of two programs INDEX and TEDP which index and simulate electron diffraction patterns respectively. The user has the option of choosing either the indexing or simulating aspects of the combined program.

Download Full-text

Modern Approaches to the Teaching of Risk Scienceat a University

Issues of Risk Analysis ◽

10.32686/1812-5220-2020-17-5-94-110 ◽

2020 ◽

Vol 17 (5) ◽

pp. 94-110

Author(s):

V. V. Gamukin

Keyword(s):

Rating Scale ◽

Human Life ◽

Risk Identification ◽

Individual Risk ◽

Professional Activities ◽

Basic Competencies ◽

Internal Rating ◽

Rating Method ◽

Intuitive Method ◽

Numeric Rating

Purpose. Disclosure of the peculiarities of the organization of modern training of university students with a risky perception of reality in order to form basic competencies for future professional activities.Methods. As part of the study, the following were used: the systematization method, the structural analysis method and the numeric rating method.Results. The peculiarities of riskology training in the construction of an individual educational route are determined, in which the possibility of students independently choosing disciplines to realize their own interests in various fields of knowledge is used. Methods of obtaining risk identification skills from trainees are formulated. It is determined that using the intuitive method of risk formalization is the most accessible and expeditious way to remember the possibility of risks. The need to develop a sustainable habit of assessing risks in the future and in fact is justified. This skill is successfully developed using a numeric rating method. The need to develop an internal rating scale for each student is justified, which is useful for making decisions. Disclosed is a method of assimilating risk analysis skills in dynamics. This allows you to identify the development of forecast estimates in comparison with the fact for each individual risk and compile several risks.Conclusion. An educational experiment on the introduction of the Riskology discipline for students ofTyumenStateUniversity suggests that they have successfully overcome the stage of high risk of perception of reality that arose during the COVID-19 pandemic. The acquired knowledge and practical skills will ensure a similar perception of other events in their lives and professional activities. It is necessary to fully expand such practices and find an opportunity to supplement educational programs in universities, regardless of their orientation, with disciplines that directly reveal the nature of risk in human life and give them the ability to manage them.

Download Full-text

Risk Factors of Collateralized Loan Obligations and Corporate Bonds

Zeitschrift für Bankrecht und Bankwirtschaft ◽

10.15375/zbb-2020-0604 ◽

2020 ◽

Vol 32 (6) ◽

pp. 347-355

Author(s):

Mark Wahrenburg ◽

Andreas Barth ◽

Mohammad Izadi ◽

Anas Rahhal

Keyword(s):

Risk Factors ◽

Risk Factor ◽

Asset Pricing ◽

Systemic Risk ◽

Corporate Bonds ◽

Risk Exposure ◽

Expected Returns ◽

Yield Spreads ◽

Pricing Factors ◽

Return Difference

AbstractStructured products like collateralized loan obligations (CLOs) tend to offer significantly higher yield spreads than corporate bonds (CBs) with the same rating. At the same time, empirical evidence does not indicate that this higher yield is reduced by higher default losses of CLOs. The evidence thus suggests that CLOs offer higher expected returns compared to CB with similar credit risk. This study aims to analyze whether this return difference is captured by asset pricing factors. We show that market risk is the predominant risk factor for both CBs and CLOs. CLO investors, however, additionally demand a premium for their risk exposure towards systemic risk. This premium is inversely related to the rating class of the CLO.

Download Full-text

Methodological bases and practice of risk management of regional development (part 1)

Herald of Omsk University. Series: Economics ◽

10.24147/1812-3988.2020.18(2).114-126 ◽

2020 ◽

Vol 18 (2) ◽

pp. 114-126

Author(s):

Valery V. Karpov ◽

Anna G. Breusova ◽

Anna A. Korableva

Keyword(s):

Risk Management ◽

Regional Development ◽

Regional Economy ◽

Full Range ◽

Risk Identification ◽

Territorial Development ◽

Public Authorities ◽

Strategic Risk ◽

Risk Committee ◽

State Programs

The article is devoted to the theoretical foundations and analysis of the experience of subjects of the Russian Federation in the field of regional development risk management. The article examines the concept of risk, its difference and relationship with the concepts of uncertainty, threat, danger, security and others. It is determined that dangers are constantly present in the regional economy. And risk, as a measurable uncertainty with multiple outcomes, for which the probability of occurrence of a risk event is calculated, is manifested as a result of the occurrence of a hazard. When comparing the concepts of risk and security, this means that the security of the regional economy is manifested in the ability to resist threats and manage risks, and not in the complete absence of dangers. It is revealed that ISO standards distinguish between the concepts of risk management and risk management. For further discussion, risk management is understood as a systematic approach to using the full range of mechanisms available to public authorities to reduce emerging risks and threats to the socio-economic development of the region. Further, the analysis of risk management in the practice of regional management on the example of the Omsk, Novosibirsk and Tyumen regions is carried out. The relevant tools in the activities of government bodies, such as territorial development strategies, state programs and projects, were identified, which allowed us to introduce a classification of risks with the allocation of strategic, tactical risks of territorial development and project management risks, among which there is a strategic level. The analysis of the implemented tools for compliance with the mandatory stages of risk management showed mainly the absence of risk identification, unified requirements for risk accounting and systematic risk management of regional development. Among the assessed regions, the Tyumen region has the best practices in terms of risk management. For a more detailed analysis authors highlighted the key institutional and instrumental elements of risk management such as risk committee, strategic risk map, risk register, action plan for risk management, and defined logical relationships between them.

Download Full-text

CONCEPTUALISING RISK CULTURE ON ERM IMPLEMENTATION IN CONSTRUCTION COMPANIES

Built Environment Journal ◽

10.24191/bej.v17i1.5988 ◽

2020 ◽

Vol 17 (1) ◽

pp. 59

Author(s):

Ching Ching Wong

Keyword(s):

Risk Management ◽

Risk Identification ◽

The Body ◽

Risk Indicators ◽

Construction Companies ◽

Risk Appetite ◽

Risk Culture ◽

Risk Treatment ◽

Managing Risk ◽

The Relationship

Enterprise Risk Management (ERM) is an effective technique in managing risk within an organization strategically and holistically. Risk culture relates to the general awareness, attitudes and behaviours towards risk management in an organisation. This paper presents a conceptual model that shows the relationship between risk culture and ERM implementation. The dependent variable is ERM implementation, which is measured by the four processes namely risk identification and risk assessment; risk treatment; monitor and consult; communicate and consult. The independent variables under risk culture are risk policy and risk appetite; key risk indicators; accountability; incentives; risk language and internal relationships. This study aims to empirically test the relationship between risk culture and ERM implementation among Malaysian construction public listed companies. Risk culture is expected to have direct effects and significantly influence ERM. This study contributes to enhance the body of knowledge in ERM especially in understanding significant of risk culture that influence its’ implementation from Malaysian perspective.

Download Full-text