Publications

2022
Chapter

Measuring Compliance Risk and the Emergence of Analytics

By: Eugene F. Soltes

Corporate compliance manages a diverse set of regulatory and reputational concerns ranging from fraud to privacy to discrimination. However, effectively managing such risks has often been hampered by a lack of adequate information about when, where, and why misconduct... View Details

Keywords: Compliance; Risk; Analytics; Governance Compliance; Governing Rules, Regulations, and Reforms; Risk Management; Analytics and Data Science

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1996
Chapter

Measuring Risk and Return for Portfolios

By: D. E. Bell

Keywords: Investment Portfolio; Investment Return; Risk and Uncertainty; Measurement and Metrics

06 Jun 2016
Video

Measuring Risk to Create More Value

Research Summary

Measuring and Managing Risk in the Supply Chain

Understanding risk factors associated with supply chain decisions and how to appropriately model and quantify those factors. View Details

Jun 06 2016
Interview

Measuring Risk to Create More Value

Fourth Quarter 2007
Article

Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk

By: Dale . F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to measure, analyze, and manage sovereign risk based on the theory and practice of modern contingent claims analysis (CCA). The paper provides a new framework for adapting the CCA model to the sovereign balance sheet in a way that can... View Details

Keywords: Credit; Investment; Sovereign Finance; Risk Management; Emerging Markets; Market Transactions; Mathematical Methods; Valuation

18 Jun 2018
Working Paper Summaries

A Measure of Risk Appetite for the Macroeconomy

Keywords: by Carolin E. Pflueger, Emil Siriwardane, and Adi Sunderam

2007
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management

2010
Chapter

Measuring and Managing Macrofinancial Risk and Financial Stability: A New Framework

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Statements; Economy; Financial Condition; Central Banking; Management Analysis, Tools, and Techniques; Management Practices and Processes; Risk Management; Measurement and Metrics; System Shocks

2008
Working Paper

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

By: Dale F. Gray, Robert C. Merton and Zvi Bodie

This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details

Keywords: Financial Crisis; Macroeconomics; Central Banking; Risk Management

January 2008
Background Note

Measuring Investment Performance

By: Andre F. Perold and Kenneth A. Froot

Examines various approaches to measuring investment performance. The approaches include the use of risk exposure and the Sharpe and Information Ratios. Applies the approaches to a variety of mutual funds to demonstrate the effect of using different metrics to measure... View Details

Keywords: Financial Management; Investment; Management Analysis, Tools, and Techniques; Measurement and Metrics; Performance; Risk and Uncertainty

Educators

Purchase

November 2016 (Revised December 2016)
Module Note

Strategy Execution Module 13: Identifying Strategic Risk

By: Robert Simons

This module reading begins by describing the three sources of strategic risk—operations risk, asset impairment risk, and competitive risk—and demonstrates how these risks can undermine an entire business. To assist in the identification of these risks, the risk... View Details

Keywords: Management Control Systems; Implementing Strategy; Execution; Risk Assessment; Operational Control; Asset Impairment; Franchise Risk; Fraud; Strategy; Information Management

Purchase

23 Sep 2008
Working Paper Summaries

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

Keywords: by Dale F. Gray, Robert C. Merton & Zvi Bodie

June 2014 (Revised February 2017)
Teaching Note

Atlanta Schools: Measures to Improve Performance

By: Robert Simons and Natalie Kindred

This is the teaching note for Atlanta Schools: Measures to Improve Performance (HBS No. 114-001) View Details

Keywords: Execution; Management Control Systems; Risk; Balancing Innovation And Control; Strategy; Risk Management; Education Industry

Purchase

2011
Working Paper

From Counting Risk to Making Risk Count: Boundary-Work in Risk Management

By: Anette Mikes

For two decades, risk management has been gaining ground in banking. In light of the recent financial crisis, several commentators concluded that the continuing expansion of risk measurement is dysfunctional (Taleb, 2007; Power, 2009). This paper asks whether the... View Details

Keywords: Forecasting and Prediction; Financial Crisis; Risk Management; Measurement and Metrics; Organizational Culture; Situation or Environment; Banking Industry

Article

From Counting Risk to Making Risk Count: Boundary-Work in Risk Management

By: Anette Mikes

For two decades, risk management has been gaining ground in banking. In light of the recent financial crisis, several commentators concluded that the continuing expansion of risk measurement is dysfunctional (Power, 2009; Taleb, 2007). This paper asks whether the... View Details

Keywords: Risk Management; Banks and Banking; Financial Crisis; Expansion; Organizational Culture; Management Teams; Managerial Roles

April 2023
Article

The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences

By: Armin Falk, Anke Becker, Thomas Dohmen, David B. Huffman and Uwe Sunde

Incentivized choice experiments are a key approach to measuring preferences in economics but are also costly. Survey measures are a low-cost alternative but can suffer from additional forms of measurement error due to their hypothetical nature. This paper seeks to... View Details

Keywords: Survey Validation; Experiment; Preference Measurement; Surveys; Economics; Behavior; Measurement and Metrics

October 2013
Article

Barriers to Completion of Patient Reported Outcome Measures

By: Elizabeth H. Schamber, Steven K. Takemoto, Kate Eresian Chenek and Kevin J. Bozic

Patient Reported Outcomes Measures (PROMs) are commonly used in total joint arthroplasty (TJA) to assess surgical outcomes. However certain patient populations may be underrepresented due to lower survey completion rates. The purpose of this study is to evaluate... View Details

Keywords: Patient Reported Outcome Measures; PROM; Total Joint Arthroplasty; Hip; Knee; Electronic Survey; Equality and Inequality; Demographics; Surveys; Health Care and Treatment; Health Industry