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Risk Management: Typologies, Principles And Approaches

Author

Listed:
  • Anton Gerunov

    (Faculty of Economics and Business Administration, Sofia University "St. Kliment Ohridski")

Abstract

The article presents a broad overview of key definitions, approaches and strategies for managing economic risk. The literature review is based on a wide variety of sources and aims to underline the similarities in thinking between them. Four main typologies of risk are reviewed and evaluated by putting them in context. We elucidate the converge between different risk management methodologies and present a unified consensus model. A more special attention is devoted to qualitative risk management and its typical instruments. The article concludes with a short outline of available generic risk management strategies that can be fruitfully employed by the modern organization.

Suggested Citation

  • Anton Gerunov, 2019. "Risk Management: Typologies, Principles And Approaches," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 7(2), pages 205-244.
    • Handle: RePEc:neo:epjour:v:7:y:2019:i:2:p:205-244
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    File URL: http://ep.swu.bg/index.php/archive/2019/2019-issue-2/170-risk-management-typologies-principles-and-approaches
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    Citations

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    Cited by:

    1. Ani Stoykova & Mariya Paskaleva & Dinko Stoykov, 2020. "Risk Management And Accounting With Fintech," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 8(1), pages 59-73.

    More about this item

    Keywords

    risk management; risk typology; risk matrix; risk strategy;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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