Creating Shareholder Value: Turning Risk Management into a Competitive Advantage
STEVE STRONGIN
(Managing director in the global investment research department at Goldman Sachs in New York.)
MELANIE PETSCH
(Vice president in the global investment research department at Goldman Sachs in New York.)
588
Abstract
Many companies have either rejected or reduced the size of risk management (hedging) programs because they do not believe that the market will reward them sufficiently for the reduction in earnings volatility. In fact, many commodity companies would take the argument a step farther and argue that the market will punish them for reducing their commodity exposure.
Citation
STRONGIN, S. and PETSCH, M. (1999), "Creating Shareholder Value: Turning Risk Management into a Competitive Advantage", Journal of Risk Finance, Vol. 1 No. 1, pp. 11-27. https://doi.org/10.1108/eb022934
Publisher
:MCB UP Ltd
Copyright © 1999, MCB UP Limited