The new risk management: the good, the bad, and the ugly
At one time, risk management was limited to insurance and the avoidance of lawsuits and accidents. The new risk management also includes using tools developed for pricing financial options for the management of financial risks within the firm. Trading in financial markets based on these tools can insulate companies from the risk of changes in interest rates, input prices, or currency fluctuations. In this article Philip H. Dybvig and William J. Marshall introduce the new risk management and the policy choices firms should be considering.
Providing the corporate environment to foster innovation
Optimizing the decentralized approach
A new era of bank supervision
Remarks at the New York Bankers Association Financial Services Forum, New York City.
Leveraging a consulting operation
Who should be in charge?
Economic models of employee motivation
Workers present employers with a range of tricky problems. They can be crooked, subversive, surly, or indolent, even if they are paid on time. Joseph A. Ritter and Lowell J. Taylor explore economists' main theories of how compensation is used to address employee motivation and how these models help to explain puzzling features of labor market. Although these theories are often regarded as competitors, the authors treat them as complementary tools in understanding how employers deal with the complex problem of motivating workers.
Management and staffing challenges
Community banks are known for their personal service and strong customer relationships. They are an important source of working capital for small businesses and act as engines of economic growth for their communities. If they are to continue in these roles, community banks must be able to attract strong, competent management and dedicated, capable staff. However, our examiners have noted a general aging of senior management at many of the banks they visit. In addition, they have noted instances of understaffing at smaller banks. With this anecdotal information, we asked Tenth District bankers ...
Educating managers and employees