@article{1441015,
      recid = {1441015},
      author = {Lee, Hongmu,},
      title = {Risk management : fundamentals, theory, and practice in  Asia /},
      pages = {1 online resource :},
      abstract = {This book outlines risk management theory systematically  and comprehensively while distinguishing it from academic  fields such as insurance theory. In addition, the book  builds a risk financing theory that is independent of  insurance theory. Until now, risk management (RM) theory  has been discussed while the framework of the theory has  remained unclear. However, this book, unlike previous books  of this type, provides risk management theory after  presenting a framework for it. Enterprise risk management  (ERM) is seen differently depending on one's position. For  accountants, it is a means for internal control to prevent  accounting fraud, whereas for financial institutions, it  quantifies the risk that administrators can take to meet  supervisory standards. Therefore, most of the ERM outlines  are written to suit the intended uses or topics, with no  systematic RM overviews. This book discusses a systematic  RM theory linked to the framework of it, unlike previous  books that were written according to topic. After the Enron  scandal in December 2001 and WorldCom accounting fraud in  June 2002, several laws were enacted or revised throughout  the world, such as the SOX Act(Sarbanes-Oxley Act) in the  United States and the Financial Instruments and Exchange  Law and Companies Act in Japan. In this process, the  COSO(Committee of Sponsoring Organizations of Treadway  Commission) published their ERM framework, while the ISO  (International Organization for Standardization) published  their RM framework. The author believes that the  competition between these frameworks was an opportunity to  systematize RM theory and greatly develop it as an  independent discipline from insurance. On the other hand,  the Great East Japan Earthquake that occurred on March 11,  2011, caused enormous losses. Also, because pandemics and  cyber risks are increasing, businesses must have a  comprehensive and systematic ERM for these risks associated  with their business activities.},
      url = {http://library.usi.edu/record/1441015},
      doi = {https://doi.org/10.1007/978-981-16-3468-0},
}