The Market Value of the Corporate Risk Management Function Abstract

• Published in: The Journal of risk and insurance Vol. 57; no. 4; p. 664
• Main Authors: Cassidy, Steven M, Constand, Richard L, Corbett, Richard B
• Format: Journal Article
• Language: English
• Published: Malvern Blackwell Publishing Ltd 01.12.1990
• Subjects: Abnormal returns; Business insurance; Capital assets; Costs; Growth models; Investments

Much of the debate about the value of risk management to the firm centers around models such as the Capital Assets Pricing Model and whether investors place a value on risk management activities by the firm. This article explores this relationship empirically and finds that investors do value firm-s...