Innovator or owner? Information sharing, incomplete contracts and governance in financial risk management systems

@article{Han2004InnovatorOO,
  title={Innovator or owner? Information sharing, incomplete contracts and governance in financial risk management systems},
  author={Kunsoo Han and Robert J. Kauffman and Barrie R. Nault},
  journal={37th Annual Hawaii International Conference on System Sciences, 2004. Proceedings of the},
  year={2004},
  pages={10 pp.-}
}
Financial risk management has become increasingly important in the financial industry during the last decade, especially due to the financial disasters in the mid-1990s. Value-at-risk (VAR), developed by J P. Morgan in the late 1980s, has been the most widely accepted risk measurement methodology because it provides a single number summary of an institution's portfolio risk. To promote VAR, Morgan provided RiskMetrics, a VAR-based risk management service, for its clients (borrowers). Later… CONTINUE READING

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