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Strategic Risk Taking: A Framework for Risk Management
by Aswath Damodaran (Author)
Risk has always been seen negatively in business and investing since it can result in financial loss for investors and firms. As a result, we usually penalize businesses for taking chances. For this reason, the majority of risk management books only address risk mitigation or hedging.
However, the organization should have a much more complex relationship with risk. successful firms are not successful because they avoid all risk; rather, they are great because they seek out and take advantage of clever risks. The first book to adopt this more comprehensive stance is Strategic Risk Taking: A Framework for Risk Management, which covers both risk hedging at one extreme and strategic risk taking at the other.
Aswath Damodaran, a prominent financial pioneer and one of BusinessWeek’s top 12 professors at management schools, is uniquely qualified to adopt this strategic stance. Here, Damodaran assists you in distinguishing between chances and threats, demonstrating how to take advantage of the former while safeguarding yourself against the latter. He presents strong financial instruments for risk assessment and shows how to use them in conjunction with other fields to maximize their usefulness.
In short, Damodaran has authored the first book that explains how to leverage risk to boost business value, spur greater growth and returns, and establish a genuine competitive edge.
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About the Author
At New York University’s Stern School of Business, Aswath Damodaran is a professor of finance and a teaching fellow of David Margolis. He instructs the MBA program’s corporate finance and equity valuation courses.He graduated from the University of California at Los Angeles with a PhD and an MBA. Applied corporate finance, portfolio management, and valuation are his areas of interest. The Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and the Review of Financial Studies have all published works by him.
He is the author of two books on corporate finance (Corporate Finance: Theory and Practice, Applied Corporate Finance: A User’s Manual) and three books on stock valuation (Damodaran on Valuation, Investment Valuation, and The Dark Side of Valuation). He has written a book on investing philosophies (investing Philosophies) and coedited a book on investment management with Peter Bernstein (Investment Management). Investment Fables, his most recent book on portfolio management, was released in 2004.
He was awarded the Earl Cheit Outstanding Teaching Award in 1985 while serving as a visiting lecturer at the University of California, Berkeley from 1984 to 1986. He began attending NYU in 1986 and was the youngest recipient of the University-wide Distinguished Teaching Award in 1990. He also got the Stern School of Business Excellence in Teaching Award, which is given by the graduating class, in 1988, 1991, 1992, 1999, 2001, and 2007. Business Week featured him as one of the top 12 professors in US business schools.
Product details
Publisher : FT Press; 1st edition (August 2, 2007)
Language : English
