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|Title: ||APPLICATIONS: Financial risk and financial Risk Management Technology (RMT): Issues and advances|
|Authors: ||Bansal, Arun|
Kauffman, Robert J.
Mark, Robert M.
|Keywords: ||Risk management|
|Issue Date: ||1993|
|Publisher: ||Stern School of Business, New York University|
|Series/Report no.: ||IS-93-23|
|Abstract: ||Methods for sound risk management are of increasing
interest among Wall Street investment banking and brokerage
firms in the aftermath of the October 1987 crash of the stock
market. As the knowledge of advanced technology applications
in risk management increases, financial firms are finding
innovative ways to use them practically, in order to insulate
themselves. The recent development in models, the software
and hardware, and the market data to track risk are all
considered advances in Risk Management Technology (RMT). -.
These advances have affected all three stages of risk management: the identification, the measurement, and the formulation of strategies to control financial risk. This article discusses
the advances made in five areas of RMT: communication
software, object-oriented programming, parallel processing, neural nets and artificial intelligence. Systems based on any of these areas may be used to add value to the business of
a firm. A business value linkage analysis shows how the utility
of advanced systems can be measured to justify their costs.|
|Appears in Collections:||IOMS: Information Systems Working Papers|
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