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Cash Flow at Risk-Verfahren für das Risikomanagement

Cash Flow at Risk-Verfahren für das Risikomanagement

          
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About the Book

Diplomarbeit aus dem Jahr 2006 im Fachbereich BWL - Controlling, Note: 1,0, Universität Osnabrück, Sprache: Deutsch, Abstract: In den vergangenen Jahren haben sich die weltwirtschaftlichen Bedingungen, denen ein Unternehmen ausgesetzt ist, grundlegend geändert. Die Konzentration auf den Shareholder Value, der stärker werdende Wettbewerb und die zunehmende Anzahl finanzieller Krisen zu Beginn der 1990er Jahre bei Unternehmen wie der Metallgesellschaft AG, Procter & Gamble und BMW infolge von Rohstoffpreis-, Zins- und Wechselkursrisiken, die zu den Marktpreisrisiken zählen, stellen wichtige Aspekte dar, durch die eine stärkere Beachtung der Risikosituation erfolgte und das Interesse an einem wirkungsvollen Risikomanagement geweckt wurde. Im Mittelpunkt dieses Werkes steht die Risikoquantifizierung als eine Phase des Risikomanagementprozesses. Aus Unternehmenssicht bietet es sich dabei an, Erfahrungen anderer Branchen bezüglich der Quantifizierung von Marktpreisrisiken zu nutzen. Ein Risikomaß, das in den vergangenen Jahren im Finanzsektor erheblich an Akzeptanz und Anerkennung gewonnen hat und darüber hinaus Pflichtgröße in gesetzlichen Bestimmungen zur Eigenkapitalhinterlegung geworden ist, ist der Value at Risk. Dieser dient dazu, unterschiedliche Risikofaktoren mit einer einheitlichen Vorgehensweise zu identifizieren und zu einer einzigen Kennziffer in Geldeinheiten zusammenzufassen. Aufbauend auf der Idee des VaR wird in der gängigen Literatur der Cash Flow at Risk zur Risikomessung in Unternehmen vorgeschlagen. Im Unterschied zum VaR setzt der CFaR auf der Zahlungsstromebene anstatt auf der Wertebene an und betrachtet Prognosezeiträume von bspw. 12 Monaten. Das Problem bei der Risikoquantifizierung im Unternehmen besteht darin, dass kein optimal geeignetes Verfahren zur Ermittlung des CFaR existiert. Aus diesen Überlegungen heraus resultiert als Zielsetzung des Werkes die Beantwortung der beiden folgenden Fragen: Inwieweit sind finanzwirtschaftliche Risikomaß


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Product Details
  • ISBN-13: 9783638697613
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 96
  • Series Title: German
  • Weight: 136 gr
  • ISBN-10: 3638697614
  • Publisher Date: 02 Aug 2007
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 6 mm
  • Width: 148 mm


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