In today's globalised business environment, companies face a complex assortment of new and often contradictory laws and regulations. High-profile corporate scandals involving compliance failures teach us that loss of reputation can have a significant, if not fatal, effect on a company. International companies recognise this and invest heavily in systems designed to detect and prevent compliance breaches. However, such systems and controls cannot succeed without the development of a strong compliance culture that secures buy-in from executives, managers, employees, contractors and business partners all at levels. This title offers cutting edge know-how and guidance for the development and management of a sophisticated legal risk management and compliance operation. While identifying risks and regulatory challenges, chapters also explore how professionals can manage processes; implement change; track issues and loss events; screen potential clients, partners, employees and contractors; and implement appropriate remediation. The book features chapters on board structures, tax compliance, fraud and bribery, Sarbanes-Oxley requirements, European capital markets regulation, competition law, data protection, offshoring and the cloud, human resources issues for managers, and managing legal risk in China. Legal Risk Management, Governance and Compliance is a must-have desk reference for in-house corporate counsel and compliance officers, individuals involved in the compliance, audit, legal and risk functions within companies and non-profit organisations, as well as the law firms that service these organisations' needs.
Banking is now an active asset-liability risk management enterprise, attributable in large part to the globalization of commerce. The authors of this descriptive yet practical, applications-oriented book examine the sources and management of traditional and nontraditional banking risks, then the conventional on-balance sheet and the modern off-balance sheet risk management methods. Unlike other more general risk management books, however, they focus closely on the use of financial derivatives--instruments to control the core risks attributable to credit and to fluctuations in interest and foreign exchange rates. The authors cover all this and more, giving experienced and novice practitioners both an easily accessed way to understand and cope with the banking risks they are already familiar with, and the new risks just emerging. The book will also be useful as a supplemental text in college-level courses on money and banking and on the operation of financial markets in general. The authors begin by explaining how banking has moved from a routine financial process to an active and impersonal process of risk management, from relationship banking to community banking. Even banks that have stayed with traditional lending are now assuming greater risks. The authors then focus on the details of measuring, monitoring, and controlling risks. They define risk and the different philosophical approaches to its management, then continue with a discussion of operational matters, such as risk identification and classification. They discuss the evolution of banking risk management and the banking environment of the 20th Century, with special attention to the differences in methods used during the time of fragmented and highly regulated economies and those used in the highly integrated global economies of the last quarter century. The book describes in useful detail the major financial derivative products: forwards, options, caps, collars, and swaps, and their uses as risk management devices and tools for speculation, both. The book also treats on-balance sheet risk management methods, such as credit options and credit swaps. Interest rate risk is also covered in detail, and so too the management of foreign currency risk.
Credit risk has become the central focus of risk management in the last decade for a num ber of reasons. First, for a typical continental bank, credit risk is still the predominant risk category. Second, the new Basel Capital Accord of June 2004 allows for more advanced methods to assess the risk related with a bank's credit portfolio. Third, the markets to reallocate credit risk between agents experience the highest growth rate of all derivative markets. Fourth, from a theoretical and an empirical point of view, the modelling and valuation of credit risk is a more demanding problem than the analysis of market risk. Especially, the appropriate modelling of correlation effects, e.g. the correlation between defaults of different creditors or between default probabilities and recovery rates, is'still not satisfactory resolved. Collateralised Debt Obligations (CDOs) represent important derivatives to synthesise and reallocate the risk of banks' credit portfolios. These instruments are of specific interest as they, first, call for a determination of the whole loss distribution of a credit portfolio and not only for a few moments. Second and even more interesting, this loss distribution is carved into senior, mezzanine and junior tranches according to the needs and risk attitudes of the bank and the market."
Fundamentals of Marketing provides a sound appreciation of the fundamentals of the theory and practice of marketing. Using case studies drawn from a cross section of sectors, in particular the banking, hospitality, retail and public service sectors this textbook critically evaluates the effectiveness of different marketing strategies and approaches. Exploring the principles of marketing this volume engages the reader, not only in theory but also in practice, using a broad range of real-life case studies such as Coca Cola, Apple, FCUK, Virgin, Amazon.com, Barnes and Noble, Dyno Rod and New Zealand wool.
The text analyzes the marketing mix: product development, pricing, promotion (and communications marketing) and place (channels of distribution). It also emphasizes the role of Marketing Information Systems (MIS) using internal reporting, marketing intelligence and marketing research including the contribution from marketing research agencies and reviews the role of technology, e-commerce and the Internet in supporting successful marketing.
Featuring a support website that provides student and lecturer resources, Fundamentals of Marketing conveys the main principles of marketing in a challenging yet accessible manner and provides the reader with insights into the workings of marketing today.
Visit the Companion website at www.routledge.com/textbooks/9780415370974
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