Torben Juul Andersen is Professor of Strategy and International Management at the Copenhagen Business School (CBS), Denmark. He was the Associate Dean for the Fulltime MBA Program during 2008-2012. He previously taught financial economics at George Mason University and Johns Hopkins University and held positions as Vice President at Citibank/Citicorp Investment Bank, Senior Vice President at Unibank, Managing Director of SDS Securities, and Senior Consultant with PHB Hagler-Bailly. Torben's current research interests evolve around concerns for effective strategy-making processes, strategic responsiveness and strategic risk management. His articles have appeared in Strategic Management Journal, Journal of Management Studies, Long Range Planning, Journal of Business Research and Risk Management among others.

• Introduction – Contemporary Challenges in Risk Management; Torben J. Andersen 1. Distinguishing Rationality and Bias in Prices – Implications from Judgments of Risk and Expected Return; Hersh Shefrin 2. Looking Under the Lamppost? A Research Agenda for Increasing Enterprise Risk Management's Usefulness to Practitioners; Philip Bromiley and Davaki Rau 3. The Risk-return Outcomes of Strategic Responsiveness; Torben J. Andersen and Richard A. Bettis 4. Exploring the Effect of Effective Risk Management Capabilities; Anders Ø. Hansen and Torben J. Andersen 5. The 'soft' Side of Strategic Risk Management – How Top Managers' Leadership Style Affects Volatility in Performance; Simon S. Torp and Stefan Linder 6. A Management Accounting Perspective on Risk Management; Ulrik Christiansen 7. Subjective Beliefs and Statistical Forecasts of Financial Risks – The Chief Risk Officer Project; Glenn W. Harrison and Richard D. Phillips 8. Defaults and Returns in the High-yield Bond and Distressed Debt Markets – Review and Outlook; Edward I. Altman and Brenda J. Kuehne