Operational Tools in the Management of Financial Risks

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Presenting a set of mathematical-modelling tools for analyzing financial risk, this work draws on research in a variety of fields, including chaos theory, expert systems, fuzzy sets, neural nets, risk analysis, stochastic programming, and multi-criteria decision-making. Applications cover (but are not limited to) bankruptcy, credit granting, capital budgeting, corporate performance and viability, portfolio selection/management, and country risk. The first of the book’s five sections applies multi-variate data and multi-criteria analyses to the problem of portfolio selection. Articles in this section combine classical approaches with newer methods. The second section expands the analysis to a variety of financial problems, such as business failure, corporate performance and viability, and bankruptcy. The third section examines the mathematical-programming techniques, including linear, dynamic and stochastic programming, to portfolio managements. The fourth section introduces fuzzy-set and artificial-intelligence techniques to selected types of financial decisions. Finally, the book explores the contribution of several multi-criteria methodologies in the assessment of country financial risk.