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The book offers a combination of the basic knowledge needed over the long term as well as current, specific risk issues, and includes practical applications based on quantitative examples. It thus offers an integrated model of corporate risk management under consideration of the aftereffects of the financial crisis and climate change. It is useful for undergraduate and graduate students as well as professional practitioners in this field.

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This book is the English edition of the German third edition, which has proven to be a standard work on the subject of risk management. The English edition extends the scope of use to the English-language bachelor´s and master´s degree courses in economics and for potential use (especially as a reference work) in the professional practice of risk management. The subject of the book is company-wide risk management based on the Value at Risk concept. This includes quantitative and qualitative risk measurement, risk analysis based on the RoRaC and various management tools for risk control. Other topics covered are the peculiarities of the various risk types, e.g. risk management of the effects of climate change, the global financial crisis and risk reporting. The book is rounded off by a comprehensive case study, in which all aspects are summarized. The volume is thus an indispensable standard work for students and practitioners.

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Prof. Dr. Thomas Wolke (Hochschule für Wirtschaft und Recht Berlin)

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