Natural disaster and financial risk management
This paper explores and discusses the financial issues faced by firms in a natural disaster. It introduces the disaster risk environment and the factors that affect the operations of a firm. The implications of a natural disaster in terms of unsystematic and systematic risks, investment evaluation, strategic investment, and risk and compliance are addressed. It provides a framework to analyse the disaster risk exposure of a firm and how it might be used in risk management. The discussions in this paper are relevant to the Wenchuan earthquake in China in May 2008.
Keywords: natural disasters, financial risk management, Wenchuan, earthquakes, China, investment evaluation, strategic investment, compliance, risk exposure, emergency management, disater management, crisis management, business continuity, systematic risks, unsystematic risks
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