By Christopher L. Culp
Praise for The Risk Management Process'True to its claim, The Risk Management Process is a rigorous yet lucid and broadly accessible account of how the timeless principles of corporate finance apply to the management of risk. Written by an experienced consultant with impeccable academic credentials and incisive analytical thinking, this book is a must-read for the senior manager and corporate treasurer who aspire to integrate risk management with corporate financial management and business strategy.'-George M. Constantinides, Leo Melamed Professor of Finance, University of Chicago Graduate School of Business'Christopher Culp's The Risk Management Process: Business Strategy and Tactics is a comprehensive treatment of the issues that face risk managers today. His book constructs a bridge to connect the theory and the practice of risk management, and Culp leads readers over that bridge with great care.'-Peter Tufano, Sylvan C. Coleman Professor of Financial Management, Harvard Business School'An unusually simple and lucid analysis of the risk management process. This book will be valuable for anyone trying to manage financial risk.'-Ken French, NTU Professor of Finance, Sloan School of Management, MIT'As opposed to offering us another dry, one-size-fits-all, mathematical approach to measuring or managing one risk or another, this book provides a general management approach to this important facet of managing any business in the twenty-first century, yet doesn't shy away from sharing with the reader the underlying and necessary quantitative thinking that is required to perform the role of financial risk management. Culp easily switches between a statistical approach to risk measurement and a real-world approach to the particular exposure(s). In addition, it was refreshing to see the amount of time he spent on drawing the distinction between managing risk on Wall Street and managing the same risk within a corporation, which may have very different goals and success benchmarks.'-Brent Callinicos, CPA, Treasurer, Microsoft Corporation'The Risk Management Process is at the same time scholarly and comprehensive, yet readable, realistic, and insightful. Unquestionably, this is the right book at the right time, destined to become the standard reference work in the field.'-Steve H. Hanke, Professor of Applied Economics, Johns Hopkins University, and Chairman, The Friedberg Mercantile Group, Inc.