Thesis (Ph. D.)--George Mason University, 2002. / Vita. Includes bibliographical references (leaves 126-129).

<p> International financial regulation has increasingly focused on 'risk-based' management over the last decade. In general, risk is a term embodied with the notion of an uncertain future and a belief that the use of rational and calculative practices can reveal, measure, and manage these potential futures. This dissertation argues that at the macro level financial governance is permeated with a tension between two overarching discourses of risk-risk as an economic necessity and risk as a danger or threat. These two macro-discourses influence and/or legitimize various courses of action in a general way that in some respects is similar to the role played by ideas in other approaches. However these macro-discourses do not only guide the regulatory actors involved. By drawing out the links between these discourses and the performative risk practices they constitute, this dissertation reveals how risk discourses operate in an ongoing way through the practical implementation of regulatory strategies, which implicitly or explicitly play one macro-discourse off the other. Moreover, the risk practices created, which include mundane, routine, and highly technical activities, work to construct the everyday performance offinancial governance and the identities of those actors included and excluded from the system.</p> <p> To examine this relationship, the dissertation looks at the international governance efforts of three financial areas: banking capital adequacy requirements, reinsurance and collective investment schemes. In the process, it reveals that the focus on risk in regulation creates some generalities across the realm of financial governance, but also that the micro-practices, identities and power produced in each arena are distinctive. It argues that by interrogating the macro-discursive constructions of risk and the practices and identities constituted through them, key tensions are revealed which, at least in part, explain the structure and goals of international financial regulation.</p> / Thesis / Doctor of Philosophy (PhD)

Thesis (M.B.A.)--University of Hong Kong, 1995. / Includes bibliographical references.

Work deals with the impact of global economic crisis on the financial management of small and medium sized companies. It highlights the differences in tools and management methods, justifying the need to strengthen stability and likvidity. It also stresses the importance of searching for financial risks and gives indications on how to identify, measure, and how to hedge against them. It furthermore describes the system Balanced Scorecard, which provides us with a balanced view of financial and non-scale dynamics of future performance.

Financial unsustainability of pension systems in developed economies looms large on the horizon due to increasing life expectancy and continuous drop in fertility. In spite of a broad discussion, there has been but a little consensus on appropriate remedy. One aspect partially neglected in the literature is vulnerability of pension systems to market imperfections and economic shocks. I present three basic types of pension schemes adopted across all developed countries - pure PAYG, fully-funded, and mixed (multipillar) scheme - and examine effects of various risks -- particularly market risk, interest rate risk, investment risk, and longevity risk -- on their functioning. The analysis shows that while no pension scheme is immune to external influences, the multipillar scheme provides the best results thanks to appropriate risk diversification.

The aim of this diploma theses is to identify business risks, which threaten the firm KOVOLIT Česká spol. s r.o.. in the case of its other planned investments. They are proposed recommendations for reduction of its identified risks.

Master thesis touches upon the interesting spheres of risk classification, measurement and management of financial institutions. Modern banks have numerous credit risk measurement models at their disposal. However, agreement about performance of those models is not that unanimous and to some point the models are blamed for breaking out of 2007 financial crisis. In the theoretical part of the thesis we provide survey of risk measurement practices in banks. We investigate the main types of risk of banks in their day-to-day activities. Special focus is paid on the credit risk and on the models and techniques of its measurement; Practical part of thesis then contains construction and accuracy estimation of particular credit-risk-model (Altman Z-score). In it we construct and compute Altman Z-score for sample of firms from two chosen sectors in United Kingdom. Main goals of the work are a) testing accuracy of the model by comparing its outputs to real development, and b) econometric testing of the specification of the model itself.

The Master's Thesis deals with the topic of risk management in a non-financial company. The goal of this Thesis is to create a framework for review of risk management process and to practically apply it in a case study. Objectives of the theoretical parts are: stating the reasons for risk management in non-financial companies, addressing the main parts of risk management and providing guidance for review of risk management process. A special attention is paid to financial risks. The practical part applies the framework created in the theoretical part on a case study -- review/gap analysis of risk management process in a Czech non-financial companies operating in utilities. Risk management process in this company is described with a special attention to management of financial risk. Author's own remarks on the process and recommendations are stated in the practical part.

This thesis deals with the problem of recent financial crisis and possible ways to prevent it from returning in the future. The basic document here deals with the changes made by US government and their comparison with set of laws from the time of the Great Depression. This comparison results into proposal of some further changes. The last part deals with the systematic flaw of credit expansion a offers a solution based on principles of the Austrian school modified to correspond more closely with current system

Regulators worldwide are considering expanding current audit reporting model to include key audit matters (KAM). Proponents argue that current audit reports are standardized and uninformative to financial statement users. Auditors in current reporting regime can choose to add explanatory notes in audit reports, however, few current studies have investigated the information content of these explanatory notes. This thesis conducts a textual analysis of explanatory notes in auditor reports and examines the predictability of auditors’ explanatory notes consisting of both unqualified and qualified opinions in determining the incidence of subsequent restatements. I hand collect material accounting restatements disclosed by the public companies in China from 2003 to 2017 and obtain modified audit reports from the CSMAR database during the period between 2003 and 2015. Based on a sample of 22,850 firm-years from 2003 to 2015 in China, I find that modified audit opinions, in general, can communicate financial misstatement risks, and the probability of such risks increases when the type of audit opinion is more severe. I also find that compared with unmodified audit opinion, modified ones containing explanatory notes have a higher possibility of subsequently being restated. Further, the predictive power is not the same across different types of explanatory notes. I have shown that explanatory notes including notes emphasizing contingencies and uncertainties and those relating to audit scope limitations have greater predictive power in explaining subsequent accounting restatements. My findings are robust with a set of additional tests. The findings of this thesis indicate that auditors do communicate financial misstatement risks in modified audit opinions (MAOs). Moreover, the findings are consistent with and provide evidence to support policy changes in developing new enhanced auditor reports introduced by the standard setters in China.