Financial Failures and Risk Management

Yener Coskun ()

MPRA Paper from University Library of Munich, Germany

Abstract: Financial failures observed during global financial crisis have again underlined the importance of effective risk management. In this article, the author analyzes the best instrument, namely self discipline, official discipline and market discipline, for the effective risk management. In the light of literature review and lessons of firm/system wide financial failures, we also analyze degree of efficieny of disciplinary methods. We first conclude, however it may not provide optimal solutions to the risk management problems of financial intermediaries, better risk management standards should be developed. We also conclude that firm wide risk management processes may be managed by pragmatic regulatory policies without get into negative impacts of market mechanism and big financial firms’ pressures.

Keywords: Financial failure; risk management; regulation; self regulation (search for similar items in EconPapers)
JEL-codes: G01 G21 G32 (search for similar items in EconPapers)
Date: 2012-08-08
New Economics Papers: this item is included in nep-rmg
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Published in Sermaye Piyasası Dergisi 10 (2): 100-109. 10 (2).2(2012): pp. 100-109

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