Didier Cossin - Böcker

Advanced Credit Analysis presents the latest and most advanced modelling techniques in the theory and practice of credit risk pricing and management.The book stresses the logic of theoretical models from the structural and the reduced-form kind, their applications and extensions. It shows the mathematical models that help determine optimal collateralisation and marking-to-market policies. It looks at modern credit risk management tools and the current structuring techniques available with credit derivatives.

This title presents an alternative methodology to deal with a financial problem that has not been well analyzed yet - the control of credit risk. Credit risk has become the centre of interest of the financial community, with new instruments (such as credit risk derivatives) and new methodologies (such as credit metrics) being developed. The recent literature has focused on the pricing of credit risk. On the other hand, practitioners tend to eliminate credit risk rather than price it. They do so via collateralization. The authors offer methodological basis for an optimal collateralization. The monograph is organized as follows: chapter 1 reviews the main avenues of literature related to our problem; chapter 2 provides a brief overview of the main optimal control principles; and chapter 3 presents the models and their setting. In the remaining chapters, the authors propose two sets of programmes. One set of programmes will apply in cases where the information on the assets=value is readily available (full observation case), while the other applies when costly audits are needed in order to assess this value (partial observation case).In either case, the modelling stage leads to a set of quasi-variational inequalities which the authors attempt to solve numerically in the simpler case of full observations. This is done in chapter 6. Finally a simulation analysis is carried out in chapter 7, in which the authors study the influence on the control process of changes in the different model parameters. This precedes a discussion on possible extensions in chapter 8 and some concluding remarks in section 9.

Transform from leader to steward to drive growth and make an impact Inspiring Stewardship helps leaders drive sustainable development and growth by balancing short- and long-term objectives amidst competing interests. By examining a range of exceptional individual and organisational stewards alongside insights from quantitative studies, this book unlocks the contributions you can make to enhance your influence and secure your legacy. Profiles of leaders from Ratan Tata to Bill Gates illustrate what stewardship really means, and the attributes and characteristics of steward leaders. Are they fundamentally different? Where do they get their exceptional drive and resilience? Why do they shoulder such huge responsibility? Risks, rewards, motivations and actions are explored in depth to give you a real-world view of stewardship, and to show you how to embody these principles in your own everyday life. The notion of stewardship has never been more relevant to business than it is today, as managers struggle to balance present and future interests. This book provides clarity, direction and guidance for more purpose-driven action. Understand the concepts and principles of stewardshipDiscover characteristics of steward leaders across culturesLearn how stewards have shifted the course of their organisationsExamine the capabilities that deepen organisational resilienceToday, ownership of firms is increasingly fragmented, investment structures are more and more complex and the time horizons of investors, executives and owners do not always coincide. Inspiring Stewardship helps you break through the tension and drive sustainable growth through adaptability and good leadership.

"Didier Cossin's High Performance Boards covers aspects of culture and organisational design that are foundational to any successful institution. This comprehensive study captures real-world insights on quality governance and effective leadership. It connects his four- pillar methodology for gauging and improving board effectiveness, learning from both failure and success and boardroom best practice. It is a valuable tool for present and future directors."—Mark Tucker, Group Chairman of HSBC Holdings plc"Recent developments in the financial services industry dramatically illustrate the intimate link between good governance and a company's success or failure, particularly in times of crisis. In his latest book, Didier Cossin sheds light on the design principles and practice that underpin good governance. A catchy and comprehensive textbook for those in charge!"—Sergio Ermotti, Group CEO and President of the Executive Board of UBS AGThe most up-to-date version of the gold standard in board governanceIn the newly revised second edition of High Performance Boards: A Practical Guide to Improving & Energizing your Governance, author Didier Cossin delivers an incisive and practical roadmap to board governance best-practices. Accessible to professionals from a variety of backgrounds, the book lays out the foundational and advanced concepts you'll need to understand to effectively govern a for-profit firm, non-profit, or government entity.You'll learn to manage risk, increase the impact of your board, consider and evaluate the importance of ESG metrics, take into account geopolitics, and supervise your organization's culture. You'll also discover: Extensive revisions to existing chapters, including new methods of cyber-risk management and stakeholder managementStrategies for avoiding the common pitfall of ‘greenwashing’Increasingly common new activism techniques undertaken by boards and investors to shape the behaviour of organizationsAn indispensable resource for board members and directors serving on boards at organizations of all kinds, High Performance Boards will also earn a place on the bookshelves of corporate lawyers, board secretaries, and students of corporate governance. For additional materials to the book, please see didiercossin.com.