A Theory of Operational Risk
beSpacific 2016-02-26
Summary:
Basak, Suleyman and Buffa, Andrea M., A Theory of Operational Risk (February 2016). Available for download at SSRN: http://ssrn.com/abstract=2737178 “We study the dynamic decision making of a financial institution in the presence of a novel implementation friction that gives rise to operational risk. We distinguish between internal and external operational risks depending on whether the […]