The Handbook of Corporate Financial Risk Management (2nd edition) - Risk Books
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Pre-order now: The Handbook of Corporate Financial Risk (2nd edition) - Coming September 2019

By Stanley Myint and Fabrice Famery

Overview

How are the largest European non-financial companies managing their financial risks? How do you hedge financial risks? How do you determine which risks to hedge first, and which ones (if any) should be left unhedged? The Handbook of Corporate Financial Risk Management addresses these problems, providing a detailed guide to financial risks facing corporates. 


This unique book, purely devoted to corporate risk management is now in its second edition and greatly expanded. It contains 43 real-life case studies, 20 of which are new to the second edition.

Stanley Myint and Fabrice Famery (BNP Paribas) have based this book on 700+ client projects spanning over 14 years. The case studies draw on real-life industry experience and the challenges treasurers and treasuries face every day: 


  • Theory and practice of risk management and capital structure

  • Funding and capital structure

  • Interest rate and inflation risks

  • Currency risk

  • Credit risk

  • M&A related risks

  • Commodity risk

  • Equity risk

  • This book is an essential resource for all risk-management professionals and practitioners: Treasurers, CFOs, CROs, CEOs, financial directors, traders, accountants, consultants, corporate bankers, coverage officers, corporate financiers, private equity investors, academics and students in the field of corporate risk management. The first edition has been used in the Financial Crises and Risk Management course at Said Business School, University of Oxford since 2014.


    Please visit www.corporateriskmanagement.org for more information

    Publish date: 1 Sep 2019

    Availability: In stock

    £99.00
    OR

    Book description

    'Corporate finance and financial risk managers now have a greatly expanded second edition of this invaluable handbook, which covers the most relevant topics from funding or rating to FX risks. It will be a very valuable tool for any Treasury and Financial risk professional who wants to take a hard look at how to mitigate or hedge the different financial risks.'

    IGNACIO MOSQUERA, Group Treasurer, Royal Philips

    'As a corporate Treasurer I highly recommend this handbook. It has been very useful when optimising the risk management strategies across the different financial risk areas we as a group are exposed to. The theoretical and analytical approach together with real-life case studies is a unique combination. The book also contains useful guidelines on how to manage daily activities and challenges as well as setting policy and putting procedures in place.'

    ELISABETH MOSSEEN, Group Treasurer, Volvo Car Group

    'This book helped us both in the development of our internal guidelines and procedures and in a lot of practical day-to-day questions. Especially the case studies provide valuable input for all finance-related departments.'

    Dr. VERENA VOLPERT, SVP Group Finance, E.ON SE

    'This unique book provides a comprehensive overview of corporate risk management topics and will prove to be very useful to Treasurers and Financial Directors in their daily activities'

    ALESSANDRO CANTA, Head of Group Finance, Enel

    'The authors have produced a rare book on corporate financial risk management. Their expertise and practical examples make it an indispensable textbook in any risk management course. I have used this book in class since 2014 and have always received excellent feedback from students. I firmly believe that it deserves to be required reading for academics, practitioners and finance students.'

    DIMITRIOS P. TSOMOCOS, Professor of Financial Economics and Fellow of Management, Said Business School and St. Edmund Hall, University of Oxford

    Book details

    ISBN
    978-1-78272-392-9
    Publish date
    1 Sep 2019
    Format
    Size
    230mm x 280mm

    Author biography

    Stanley Myint and Fabrice Famery

    Stanley Myint is the Head of Risk Management Advisory at BNP Paribas and an Associate Fellow at Saïd Business School, University of Oxford. At BNP Paribas, he advises large multinational corporations on issues related to risk management and capital structure. His expertise is in quantitative and corporate finance, focusing on fixed income derivatives and optimal capital structure. Stanley has 25 years of experience in this field, including 14 years at BNP Paribas and previously at McKinsey & Company, Royal Bank of Scotland and Canadian Imperial Bank of Commerce. He has a PhD in physics from Boston University, a BSc in physics from Belgrade University and speaks French, Spanish, Serbo- Croatian and Italian. At the Saïd Business School, Stanley teaches two courses with Dimitrios Tsomocos and Manos Venardos: “Financial Crises and Risk Management” and “Fixed Income and Derivatives”.

    Fabrice Famery is Head of Global Markets corporate sales at BNP Paribas. His group provides corporate clients with hedging solutions across interest rate, foreign exchange, commodity and equity asset classes. Corporate risk management has been the focus of Fabrice’s professional path for the past 30 years. He spent the first seven years of his career in the treasury department of the energy company, ELF, before joining Paribas (now BNP Paribas) in 1996, where he occupied various positions including FX derivative marketer, Head of FX Advisory Group and Head of the Fixed Income Corporate Solutions Group. Fabrice has published articles in Finance Director Europe and Risk Magazine, and has a master’s degree in international affairs from Paris Dauphine University (France).

    Table of contents

    Table of Contents

    About the Authors

    Abbreviations

    Introduction

    1 Theory and Practice of Corporate Risk Management *

    2 Theory and Practice of Optimal Capital Structure *

    PART I: FUNDING AND CAPITAL STRUCTURE

    3 Introduction to Funding and Capital Structure

    4 How to Obtain a Credit Rating

    5 Refinancing Risk and Optimal Debt Maturity*

    6 Optimal Cash Position *

    7 Optimal Leverage *

    PART II: INTEREST RATE AND INFLATION RISKS

    8 Introduction to Interest Rate and Inflation Risks

    9 How to Develop an Interest Rate Risk Management Policy

    10 How to Improve Your Fixed-Floating Mix and Duration

    11 Interest Rates: The Most Efficient Hedging Product*

    12 Do You Need Inflation-linked Debt

    13 Prehedging Interest Rate Risk

    14 Pension Fund Asset and Liability Management

    PART III: CURRENCY RISK

    15 Introduction to Currency Risk

    16 How to Develop an FX Risk Management Policy

    17 Translation or Transaction: Netting FX Risks *

    18 Early Warning Signals

    19 How to Hedge High Carry Currencies*

    20 Currency Risk on Covenants

    21 Optimal Currency Composition of Debt 1:

    Protect Book Value

    22 Optimal Currency Composition of Debt 2:

    Protect Leverage*

    23 Cyclicality of Currencies and Use of Options to Manage Credit Utilisation *

    24 Managing the Depegging Risk *

    25 Currency Risk in Luxury Goods *

    PART IV: CREDIT RISK

    26 Introduction to Credit Risk

    27 Counterparty Risk Methodology

    28 Counterparty Risk Protection

    29 Optimal Deposit Composition

    30 Prehedging Credit Risk

    31 xVA Optimisation *

    PART V: M&A-RELATED RISKS

    32 Introduction to M&A-related Risks

    33 Risk Management for M&A

    34 Deal-contingent Hedging *

    PART VI: COMMODITY RISK

    35 Introduction to Commodity Risk

    36 Managing Commodity-linked Revenues and Currency Risk

    37 Managing Commodity-linked Costs and Currency Risk

    38 Commodity Input and Resulting Currency Risk *

    39 Offsetting Carbon Emissions*

    PART VII: EQUITY RISK

    40 Introduction to Equity Risk*

    41 Hedging Dilution Risk *

    42 Hedging Deferred Compensation*

    43 Stake-building*

    Bibliography

    Index

    Note: Chapters marked with * are new to the second edition

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