The History of Risk "Measurement"

McGoun, Elton G.

doi:10.1006/cpac.1995.1047

Cited by 45 publications

(40 citation statements)

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“…However, despite its good intentions, there have been criticisms of Basel II's approach to enhancing banking stability and security (Blejer, 2006;Danielsson et al, 2002;Heid, 2007;Jarrow, 2007). The very notion of risk measurement itself has even been questioned (McGoun, 1992(McGoun, , 1995.…”

Section: Introductionmentioning

confidence: 99%

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Risk management versus operational action: Basel II in a Swedish context

Wahlström

2009

Management Accounting Research

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Section: Introductionmentioning

confidence: 99%

“…Chua, 1996;McGoun, 1992McGoun, , 1995Young, 2001) is based on a logical reasoning. In this study the critique of risk measurement is complemented by empirical data from semi-structured interviews with 25 Swedish bank officers involved in the implementation of the Basel II regulations.…”

Section: Introductionmentioning

confidence: 99%

Risk management versus operational action: Basel II in a Swedish context

Wahlström

2009

Management Accounting Research

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“…Promoted by academic scholars, risk 'experts', professional bodies, consultants, international organizations and regulators -risk, and the way it is managed -has become an increasingly prominent feature of organizations and their environments. From its origins in specialist areas such as occupational health and safety, insurance, and the hedging of financial and credit risks, it has expanded to become a cornerstone of good governance and, through riskbased regulation, it has become a regulatory resource (Ayres and Braithwaite, 1992;McGoun, 1995;Miller, Kurunmäki, & O'Leary, 2008) in both the private and public sectors.…”

mentioning

confidence: 99%

Risk and risk management in management accounting and control

Soin

Collier

2013

Management Accounting Research

141

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Abstract:Recent world events, most notably the global financial crisis, have refocused and intensified interest on risk and the nature of systems that operate to manage risk. One area that has received relatively little attention is the interrelation between risk, risk management and management accounting and control practices. This editorial provides an introduction to the special issue of the journal on "Risk and Risk Management in Management Accounting and Control". It argues that risk and the way it is managed has become a feature of organizational life in both the public and private sectors. By changing organizational practices risk management can facilitate and legitimise certain ways of organizing. It has the potential to change lines of responsibility and accountability in organizations, representing a particular way of governing individuals and activities. The argument is further made that risk management has moved away from being an issue of narrow concern to finance (value at risk, derivatives, etc.) or accountants (financial statement disclosure, etc.) to an issue about management control and therefore a key area in which management accountants need to engage. This editorial also highlights the potential side-effects of risk management, including issues around trust and accountability, but also the focus on secondary or defensive risk management and the rise of reputation risk.

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“…Frankfurter and McGoun (1996) and McGoun (2007) explore the epistemological foundations of the risk measurement techniques used in modern financial economics. The basic issue is captured in Varian (1993): "Risk and return are such fundamental concepts of finance courses that it is hard to realize that these concepts were once a novelty."…”

Section: Alternative Perspectives and Das Irrelevanzproblemmentioning

confidence: 99%