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Governance and Control of Financial Systems : A Resilience Engineering Perspective.
Title:
Governance and Control of Financial Systems : A Resilience Engineering Perspective.
Author:
Hollnagel, Erik, Professor.
ISBN:
9781409429678
Personal Author:
Physical Description:
1 online resource (211 pages)
Series:
Ashgate Studies in Resilience Engineering
Contents:
Cover -- Contents -- List of Figures and Tables -- List of Contributors -- Prologue -- 1 The Turmoil in the Financial Services System -- SECTION I Understanding Why: The Need for New Perspectives -- 2 What is the Financial Services System? -- 3 A Dynamic Systems Modelling Perspective -- 4 From the Efficient Market Hypothesis to Econophysics -- SECTION II Understanding What: Making Sense of Unpredictable Events and Developments -- 5 The 2007 Liquidity Crisis: An Example of Scalability Dynamics in Action -- 6 Taming Manias: On the Origins, Inevitability, Prediction and Regulation of Bubbles and Crashes -- 7 Using Power Laws and the Hurst Exponent to Identify Stock Market Trading Bubbles -- SECTION III Understanding How: Turning Financial Services Systems into Resilient Systems -- 8 Balancing Different Modes of Uncertainty Management in the Financial Services Industry -- 9 Financial Resilience Engineering: Toward Automatic Action Formulas against Risk and Reckless Endangerment -- 10 The Ability to Regulate, Govern and Control Financial Services Systems -- Epilogue: Financial Markets and the Law of Requisite Variety -- References -- Index.
Abstract:
This book illustrates how the safety science of Resilience Engineering can help to gain a better understanding of what the financial services system is and how to improve governance and control of financial services systems by leveraging some of its key concepts. Resilience is the intrinsic ability of a system to adjust its functioning prior to, during, or following changes and disturbances, so that it can sustain required operations under both expected and unexpected conditions.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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