Global Risk Factors

Abstract

The paper deals with a problem of solar and geomagnetic activity as global risk factors in financial risk management. The history of the idea of solar earth relations is rather long (Hershel, 1804; Jevans, 1870 Theory of Solar cycles, Chizhevsky, 1920 -Theory of Heliotaraxy; Collins, 1965 etc.), but financial risk management does not use these facts really and this paper may help to demonstrate some new risk management tools based on new results of the authors studies (Rogov 2003).

Financial Econometrics and Empirical Market Microstructure

“…This risk source was termed "the global risk factor" (Rogov 2005(Rogov , 2006. Astrophysicists have shown the chaotic nature of solar and geomagnetic activity (Spiegel 1993), and this can explain (based on the global risk factor theory) the nature of the observed widely discussed chaotic processes in the markets (Rogov 2003).…”

Theoretical Substation of the Model for Crisis Management in Organization

“…• The characteristics of crisis situation were analysed by Augustine (1995); Ayres (1996); Booth (2000); Burn, Redwood (2003); Demirguc-Kunt, Detragiache (1998); Hart (1993); Hwang, Lichtenthal (2000); Milburn et al (1993); Ravid, Sundgren (1998); Rogov (2006); Jasilioniene, Tamosiuniene (2009).…”

Soft Computing for HR Uncertainty Management in Steel Industry

“…Smith [7] proposed to separate the more general risks, which are influential but uncontrollable, from the risks associated with key elements; referred to as global and elemental risks. The source of global risks [8] may be located outside the purview of the plant management like political, legal, commercial and environmental risk. The source of elemental risks are located within the purview of plant management like implementation and operational risks, and financial and revenue risks [9].…”