Europe’s next model

Zur Bedeutung von Risikomessmodellen in Finanzmarktlehre, -aufsicht und -industrie

Abstract

Vanessa Redak: Europe’s next model: The impact of risk measurement on finance theory,
regulatory practice and industry behaviour. The importance of Finance theory and risk
modelling has dramatically increased over the past decades in academic life, banks and the
finance industry, and in regulatory and supervisory bodies. This increase not only nurtured
the somewhat illusory belief that risk is measurable but also changed the lending behaviour
of banks and the funding function of financial intermediaries with potential ample effects
on the accumulation process.