Two Essays on the Interface of Finance, Operations, and Risk Management PDF Download
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Author: 姚金
Publisher:
ISBN:
Category : Business logistics
Languages : en
Pages : 0
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Author: 姚金
Publisher:
ISBN:
Category : Business logistics
Languages : en
Pages : 0
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Author: Preetam Basu
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages :
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Successful implementation of business strategy requires proper integration of operations and financial management. This dissertation is aimed at applying optimization techniques to solve real-life problems that are at the interface of operations and working capital management. The first essay focuses on different outsourcing arrangements for back-office operations between a financial services firm and an outsourcing vendor. To meet dynamic and stochastic demand requirements, the financial services firm complements in-house operations with outsourcing. The second essay analyzes inventory and advertising policies of a start-up firm. Risk exposure is a critical aspect in start-up operations. It is imperative for the management to have a perception of the risks involved in any decision they plan to implement. We develop a heuristic that provides us a mechanism to construct efficient risk-reward curves in a stochastic dynamic setting. Important managerial insights are deduced based on the risk-reward for a set of policies. The third essay explores the emerging field of Supply Chain Finance (SCF). The physical side of supply chains has been a subject of much research. However, when it comes to their trade operations, the goals of the buyer and their suppliers, in many cases, are not aligned. This leads to suboptimal decisions for the supply chain as a whole. Recently financial intermediaries have come up with innovative trade solutions that are providing financial win-wins for all the supply chain partners. Here we examine the payables management problem of a buying firm in a supply chain scenario with SCF enabled Early Payment Program in place. Finally, the fourth essay studies risk-reward trade-offs in finite-horizon stochastic dynamic programming models. The objective in these models is to deduce optimal policies based on expected reward criteria. However, in many cases, managers are concerned about the risks or the variability associated with a set of policies and not just the expected reward. Here we develop heuristics that systematically track the variance and the average reward for a set of policies in a stochastic dynamic setting, and instead of identifying one policy to achieve the stated objective, finds the set of policies that form the efficient frontier.
Author: Volodymyr Babich
Publisher:
ISBN: 9781680837964
Category : Technology & Engineering
Languages : en
Pages : 218
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This monograph, as entitled, defines and describes the research field at the interface of Finance, Operations, and Risk Management (iFORM), provides examples where operations and finance overlap in meaningful ways, outlines promising research directions, and reduces the entry cost for anyone who would like to explore this new and exciting research field. The intended audience for this article includes both PhD students in operations management (OM), finance, and economics, who are looking for dissertation topics, and experienced researchers looking for novel applications of their expertise. The following outlines the rest of this article. Chapter 2 compares perspectives of finance and operations on the same topic: the firm. This motivates the key questions in finance, which is presented in the finance primer in chapter 3 and key questions in OM, which is presented in the OM primer in chapter 4. Having discussed key ideas from these disciplines separately, chapter 5 examines how OM and finance intersect in meaningful ways and suggest several promising research directions. Chapter 6 presents a "dos and don'ts list for publishing and reviewing iFORM papers.
Author: Qindong Liu
Publisher:
ISBN:
Category :
Languages : en
Pages : 216
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Author: Shaojun Zhang
Publisher:
ISBN:
Category : Corporations
Languages : en
Pages : 130
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Author: Lin Zou
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Category :
Languages : en
Pages : 0
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Author: Lima Zhao
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Category :
Languages : en
Pages :
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Operations management aims to match the supply with demand of material flows, whereas corporate finance seeks to match the supply with demand of monetary flows. These two supply-demand matching processes are connected by real investment and revenue management in a "closed-loop" of resources. We propose a risk management framework for multidimensional integration of operations -- finance interface models. Ten aspects are examined to specify conditions under which firms should integrate operations and finance. We present categorizations of operational hedging and financial flexibility. By linking relationship analysis (complements or substitutes) and approach choice (centralization or decentralization) of integrated risk management, we find that: (i) Zero interaction effects between operations and finance lead to decentralization. (ii) Operations and finance should be centralized even if they are partial substitutes.
Author: Hoikwang Kim
Publisher:
ISBN:
Category :
Languages : en
Pages : 128
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Author:
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ISBN:
Category :
Languages : en
Pages :
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Author: Tianjiao Gao
Publisher:
ISBN:
Category :
Languages : en
Pages : 344
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