Perspectives on Strategic Risk Management -- Table of Contents -- Introduction/Preface -- Acknowledgements -- CHAPTER 1 Performance Effects of Risk Management -- Introduction -- Global Derivatives -- Capital Structure and Risk Management -- Hypotheses -- Methodology -- Data and Measures -- Analyses -- Results -- Discussion -- Conclusions -- References -- CHAPTER 2 Risk Management -- Editorial Comment -- Introduction -- Developing Focus -- Definition of Risk and Risk Management -- Objectives of Risk Management -- Perspectives from the Insurance World -- Risk Management -- Risk Identification -- Risk Evaluation -- Risk Control -- Risk Financing -- Risk Monitoring/Reporting -- Conclusion -- CHAPTER 3 The Risk-Return Effects of Strategic Responsiveness: A Simulation Analysis -- Introduction -- Organizational Learning and Strategic Response Capabilities -- The Simulation Model -- Results -- Discussion -- Conclusions -- References -- CHAPTER 4 Impediments to Effective Risk Management -- Introduction -- Academic and Practitioner Views on Impediments to Effective ERM Programs -- Methodology -- In Search for Patterns -- Risk Management Practice in Danish Companies -- Key barriers to Managing Risk on a More Enterprise-Wide Approach -- Overview -- Low Recognition of the Benefits -- Strategy -- Style and Shared Values -- Structure -- Staff, Skills and Systems -- Limitations of the Research -- Summary -- References -- CHAPTER 5 Risk and Complexity in Social Systems: The Case of the "Business Risk Audit" -- Introduction -- The System of Auditing -- Perrow's Theory of Risk in Systems -- The Business Risk of Audits -- Conclusion and Perspectives -- References -- CHAPTER 6 Contemporary Enterprise-Wide Risk Management Frameworks: A Comparative Analysis in a Strategic Perspective -- Introduction -- The Four Frameworks -- Framework Structure and Components.

1. DeLoach's EWRM -- 2. COSO's ERM -- 3. FERMA (The UK Risk Management Standard) -- 4. AS/NZS 4360:2004 (The Australian/New Zealand Risk Management Standard) -- Framework Structure and Components -- The Claim for Enterprise-Wideness -- Framework Linkage to the Strategy Process -- Linkage to Strategy Formation -- Linkage to Strategy Implementation -- Prioritizing and Communicating Key Risks -- Risk in the Light of Opportunity -- Conclusion -- References -- CHAPTER 7 An Integrative Framework for Multinational Risk Management -- Introduction -- Exposures and Hedging -- Arguments for Hedging -- Risk Management and Alternative Risk-Transfer -- Financial and Market-Related Risks -- Casualty, Catastrophe, and Terrorism Risks -- Competitive and Strategic Risks -- Integrative Risk Management -- Discussion -- Conclusion -- References -- CHAPTER 8 Seeking Meaningful Country-Risk Information: A Wealth of Information, a Void in Understanding -- Introduction -- Country-Risk Analysis -- Country-Risk Analysis is Born -- Country-Risk Ratings -- The Problem with Risk Ratings -- Making Sense of Country Risk Information -- Conclusions and Implications -- References -- CHAPTER 9 Catastrophe Risk Analysis and Disaster Financing: A Country Perspective -- Risk Management in a Country Setting -- Adopting Formal Risk Analysis to Manage Exposures -- Insurance and Other Risk-Transfer Arrangements -- Pooled Insurance Programs -- Conclusions -- References -- CHAPTER 10 Options Reasoning and Strategic Responsiveness: Discussion and Empirical Assessment -- Introduction -- The Options Perspective in Strategy-Making -- The Performance Dynamic of Options -- Strategy Processes and Options Creation Capabilities -- Methodology -- Results -- Discussion -- Conclusions -- References -- Appendix.