Risk and Risk-Bearing - Risk Books
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Risk and Risk-Bearing

By Charles O. Hardy

Overview

“Risk and Risk-Bearing provides us with an enterprise wide view of risk in a ground-breaking single book. This broad view of risk, whether hazard, financial or operational, is remarkably progressive for its time.“ **

Thomas P Seuntjens, Director Global Risk Management, Honeywell, Inc

Publish date: 1 Oct 1999

Availability: In stock

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Book description

“Risk and Risk-Bearing provides us with an enterprise wide view of risk in a ground-breaking single book. This broad view of risk, whether hazard, financial or operational, is remarkably progressive for its time.“ **

Thomas P Seuntjens, Director Global Risk Management, Honeywell, Inc

Book details

ISBN
9781899332670
Publish date
1 Oct 1999
Format
Size
155mm x 235mm

Author biography

Charles O. Hardy

Table of contents

CONTENTS

I. FORMS AND EXTENT OF BUSINESS RISK

Universality of Risk. Sources. Risk in Production and in Marketing

II. WAYS OF DEALING WITH RISK: ELIMINATION OF THE RISK

Methods of Dealing with Risk. Prevention. Research. Market Analysis.

Time and Motion Study. Co-operation. Specialization. Combination of

Risks. Reserves. Mathematics of Probability

III. WAYS OF DEALING WITH RISK: TRANSFER TO OTHERS; ASSUMPTION OF RISK

Specialization in Risk-Bearing. The Owner-Manager. Profit. Risk and

Control. The Choice of Administrators. Business Judgment

IV. WAYS OF DEALING WITH RISK: TRANSFER TO SPECIALISTS-

Continued

Insurance. Hedging. Contracting Out

V. UNCERTAINTY AND THE BUSINESS CYCLE

Phases of the Cycle. Causes. Uncertainty in Producers’ Calculations.

Uncertainty in Buyers’ Calculations. The Cycle in Production of Basic

Capital. In Agricultural Production

VI. BUSINESS FORECASTING

Methods. Interpretation of Prices. Index Numbers. Corporation Reports.

Steel and Iron, Agricultural Production. Banking Conditions and Interest

Rates. Composite Barometers

VII. RISK AND THE MANAGEMENT OF CAPITAL

Ways of Investing. Investment in One’s Own Business. In Repayment of

Debts. Deposits with Financial Institutions. Security Investments.

Personal Loans. Speculation. Gambling

VIII. THE SECURITY MARKETS

The Market for Old Securities. The New York Stock Exchange.

Functions. Trading Methods. Relations of Brokers with Customers.

Deliveries. Information. Control of the Exchange. Classes of Members.

Short Selling. wire Houses. Other Stock Exchanges. Trading Outside

the Exchanges. The Market for New Securities. Investment Banks.

Marketing Low Grade Securities

IX. STOCK SPECULATION AS BUSINESS ENTERPRISE

Traders’ Technique. Market Maxims. The Technical Position. Trading on

the News. Manipulation. Probabilities of Success. Speculation for the

Long Swing

X. THE ANALYSIS OF SECURITIES

The Factors in Security Analysis. Tax Exemptions. Marketability.

Legality. United States Government Obligations. Foreign Government

Bonds. Industrial Securities. Analysis of the Industry. Financial

Statements. The Balance Sheet. The Income Statement. Policy and

Personnel. Railway and Public Utility Securities. Diversification

XI. SPECULATION IN COMMODITIES

Organized and Unorganized Markets. Futures Contracts. Futures

Markets. Delivery. Direct Settlement. Ringing Out. Transfer.

Speculators’ Methods. Land Speculation

XII. HEDGING

Advantages of Hedging. Degree of Protection Afforded. A

Suppositious Case. A Modification of the Assumptions. Relation of

Spot Prices to Futures Prices. The Normal Spread. Conclusions

XIII. LIFE INSURANCE

Insurance as a Hedge. The Risk Insured. Policy Contracts. Company

Organization. Selection of Risks. Calculation of Premiums. The Net

Premium. Loading. disbursement of Funds. Expenses. Mehtods of

Settlement. Surrender Values. Policy Loans. Group Insurance. Fraternal

Insurance. Life Annuities. Disability Clauses. War Risk Insurance

XIV. FIRE INSURANCE

The Risk Insured. Policy Contracts. The New York Standard Policy.

Mortgage Clause. Coinsurance. Three-quarter Value and Three-quarter

Loss Clauses. Use and Occupancy Insurance. Company Organization.

Stock. Mutual. Lloyd’s. Reciprocal. Rate Making. Public Control

XV. MISCELLANEOUS PROPERTY INSURANCE

Marine Insurance. Tornado. Automobile. Crop. Credit. Miscellaneous

Lines.

XVI. GUARANTY AND SURETYSHIP

Suretyship Compared with Insurance. Corporate Suretyship. Advantages.

Types of Protection. Insurance of Real Estate Titles. Bonded Abstracters.

Title Guaranty. Torrens System

XVII. RISKS OF LABOR

Types of Risk Carried by Labor. Unemployment. Sources. Cost. Ways

of Dealing with Unemployment. Risk of Accident and Occupational

Disease. Employers’ Liability. Workmen’s Compensation. Benefits.

Compensation Insurance

XVIII. SOCIAL ASPECTS OF RISK-BEARING

Profit Taking. Social Interference with Monopoly Profits. Dangers in

Limiting Profits. A Fair Return. Profiteering. Risk and Control. Ethics

of Gambling. Ethics of Insurance. Ethics of Speculation. Risk-Bearing

and the Social Order. Risks of Modern Industry Compared with

Medieval. Risk under Socialism

Testimonials

“Hardy’s book is a surprisingly modern treatise on enterprise-wide risk management. Today, Risk and Risk-Bearing is valuable both for its insights into corporate risk taking as well as providing a fascinating step back into financial history.“

Glyn Holton, Contingency Analysis

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