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Podjetja in finančne inštitucije se pri poslovanju že od nekdaj srečujejo z različnimi oblikami tveganja. Pomembno je tveganje razumeti, poznati različne oblike tveganja, ter znati obvladovati tveganje. Za to je potrebno poznati različne finančne instrumente, ki so na voljo na trgu, tudi preproste in bolj zapletene izvedene finančne instrumente. Obstajajo različni modeli vrednotenja naložb in ocenjevanja tveganja, kot so CAPM model, Black-Scholesova formula, RiskMetrics, katere pokriva tudi moja diplomska naloga. Poznamo različne mere tveganja, namenjene vrednotenju tveganja in ugotavljanju primerne količine kapitala, potrebne za kritje. Da lahko trg nemoteno deluje, skrbijo različni regulatorni organi in sistemi regulacij. V primeru površnega upravljanja s tveganjem in neučinkovitih regulacij pa lahko pride do hudih posledic, kot je globalna finančna kriza. Companies and financial institutions are constantly facing various risk that come in all shapes and sizes. It is essential not only to understand them, but also to be able to manage the risk. Knowing different financial instruments is imperative, especially with such a broad spectrum of existing instruments, including simple and more complex derivatives. There are many models for evaluating investments and measuring risks, such as CAPM model, Black-Scholes model and RiskMetrics, all of which are covered in this paper. Risk measures are used for evaluating risks and calculating the amount of capital required to cover potential losses. In order for the market to function seemlessly, different regulatory systems are in place, enforced by competent regulatory authorities. Negligent risk assessment and management, along with inefficient regulations can lead to catastrophic consequences, such as global financial crisis. |
