Today’s financial sector faces multiple challenges stemming from ecological, societal, and technological risks such as climate change, political extremism, and cyber-attacks. However, these non-traditional risks are yet to be fully identified and measured, in order to ensure their successful management. This edited collection sheds light on the topic by examining the unique measurement and modelling challenges associated with each of these risks, and their interaction with finance.
Offering a comprehensive analysis of non-traditional finance risks, the authors provide the basis for developing appropriate risk management techniques. With new approaches to protect against emerging threats to the financial sector, this edited collection will appeal to academics researching sustainability, development finance, and risk management, as well as policy-makers and practitioners within the banking sector.
Table of Contents:
1. Emerging Risks: An Overview; Thomas Walker, Dieter Gramlich, Kalima Vico, and Adele Dumont-Bergeron.- Part I. Ecological Risks.- 2. Climate Change: Macroeconomic Impact and Implications for Monetary Policy; Sandra Batten, Rhiannon Sowerbutts, and Misa Tanaka.- 3. Global Warming and Extreme Weather Investment Risks; Quintin Rayer, Peter Pfleiderer, Karsten Haustein.- 4. Mapping Out When and Where Climate Risk Becomes a Credit Risk; James Leaton.- 5. Designing Insurance against Extreme Weather Risk: The Case of HuRLOs; Martin Boyer, Michèle Breton, Pascal Francois.- 6. The Evolving Risk Management Opportunity and Thinking Sustainability First; Stephen Kibsey, Stéfanie Kibsey, Amr Addas, Cary Krosinsky.- Part II. Societal Risks.- 7. Terrorism and Trading: Differential Equity and Bond Market Responses during Violent Elections; Tashfeen Hussein and Allan Dwyer.- 8. The Effect of Corporate Tax Avoidance on Society; Gio Wiederhold .- 9. Planning for the Carbon Bubble; Carla Santos Skandier.- 10. Economic Risks from Policy Pressures in Montreal's Real Estate Market; Carmela Cucuzzella and Jordan Owen.- 11. Climate Change and Reputation in the Financial Services Sector; Robert Bopp.- 12. Financial Risk Management in the Anthropocene Age; Bradly Condon and Tapen Sinha.- Part III. Technological Risks.- 13. An Incentives-based Mechanism for Corporate Cyber Governance Enforcement and Regulation; Shaen Corbet and Constantin Gurdgiev.- 14. FinTech for Consumers and Retail Investors: Opportunities and Risks of Digital Payment and Investment Services; Matthias Horn, Andreas Oehler, Stefan Wendt.- 15. Empirical Modelling of Man-made Disaster Scenarios; Melanie Windirsch.- 16. Changing Dynamics of Financial Risk related to Investments in Low Carbon Technologies; Mohd Hafdzuan Bin Adzmi, Huiying Cai, Masachika Suzuki.- 17. A New Era in the Risk Management of Financial Firms; Sureyya Burcu Avci.- 18. Emerging Risks: Concluding Remarks; Dieter Gramlich and Thomas Walker.
About the Author :
Thomas Walker is Professor of Finance at Concordia University, Canada, and previously studied at Washington State University, USA. Prior to academia, he worked for several years in the German consulting and industrial sector at Mercedes Benz, Utility Consultants International, Lahmeyer International, Telenet, and KPMG Peat Marwick.
Dieter Gramlich is Professor of Banking & Finance at DHBW - Baden-Wuerttemberg Cooperative State University in Heidenheim, Germany, where he serves as Head of the Banking Department. He previously studied at the University of Mannheim and was an interim professor and Chair of Banking and Finance at the University of Halle in Germany.
Mohammad Bitar is Assistant Professor of Finance at Nottingham University Business School, UK, where he teaches banking and FinTech courses. Previously, Mohammad taught at the John Molson School of Business at Concordia University, Canada, and studied Finance at Grenoble Alps University, France.
Pedram Fardnia is a PhD candidate and staff researcher at the John Molson School of Business at Concordia University, Canada. Among others things, his research focuses on corporate governance issues within the finance sector, with a specific focus on the aviation industry.
