The 2008 financial crisis highlighted the lack of effective risk management in the asset management industry. There was a lack of transparency and feasibility in the quantitative tools used to compute the value and risk management for the exotic credit derivatives products. Clearly, risk management was not well understood or used properly by financial companies that operated in this turbulent environment.

This paper provides a comprehensive analysis of current risk management practices of active European equity long-only funds and hedge funds.

Shin (2006) has argued that in order to understand the equilibrium patterns of corporate disclosure, it is necessary for researchers to work within an asset pricing framework in which corporate disclosures are endogenously determined.

The purpose of this paper is to introduce a general equilibrium model following the Black-Scholes paradigm with endogeneous disclosure in which firms select uniquely determined optimal probabilities of early equity-value discovery in a noisy environment.

With many charities relying increasingly on volunteers to maintain their level and quality of service to their beneficiaries, more work is needed to make volunteers feel involved in shaping the values of the organisations they work for.

These are some of the findings of an exploratory survey into the use of organisational values within UK based charities, carried out by the Centre for Charity Effectiveness at Cass Business School. The report, entitled "To practise what we preach- a survey of values within charities", looks at whether values are used effectively by charities and whether organisations involve staff, beneficiaries and volunteers in drafting them.

The recent global financial crisis has served as a stark reminder of the crucial role of systematic stress testing of financial institutions' portfolios, particularly, their lending books. In response to the regulatory deficiencies thus revealed, Basel III is seeking to achieve the broader macroprudential goal of protecting the banking sector from periods of excess credit growth by requesting longer horizon default probabilities, downturn loss-given-default measures and improved calibration of risk models.

A Mixture of Markov Chains (MMC) approach is proposed to estimate credit rating migration risk that controls for the business-cycle evolution during the relevant time horizon in order to ensure adequate capital buffers both in good and bad times.