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Risk Management Developments

In: Economics and Law of Artificial Intelligence

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  • Georgios I. Zekos

    (International Hellenic University)

Abstract

Risk is a tool which makes possible the decision-maker to get knowledge about the event with destructive effects and so, the decision-maker via the analysis of risk makes the event more certain and obtaining control on it. Moreover, risk is the net negative influence of the exercise of vulnerability, regarding both the prospect and the effect of occurrence. Risk management is the procedure of identifying risk, assessing risk, and taking steps to moderate risk to a tolerable point. Furthermore, Risk sharing or risk controlling are central justifications for joining strategic alliances. Credit risk surfaces from the prospective that one participant to a financial tool is triggering a financial loss for the other participant by neglecting to discharge an obligation. Managing risk is one of the key objectives of companies operating globally and managers normally correlate risk with negative result.

Suggested Citation

  • Georgios I. Zekos, 2021. "Risk Management Developments," Springer Books, in: Economics and Law of Artificial Intelligence, edition 1, chapter 0, pages 147-232, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-64254-9_5
    DOI: 10.1007/978-3-030-64254-9_5
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