Corporate Risk Management in Emerging Markets: Challenges and Opportunities in the BRICS Countries
Firms operating in emerging markets (EM) face more risks. Even when the risk factors are known (e.g., FX rates, commodity prices), corporate risk management (CRM) in Ems is uncertain (“unknown unknows”), adding to the costs and indeed the risks: Derivatives markets are less developed and less liquid, ...
https://iems.ust.hk/research/project/2013/mackay-corporate-risk-management-in-emerging-markets