Value at risk

ENTERPRISE RISK MANAGEMENT AT GREAT PLAINS ENERGY Karyl Leggio & Marilyn Taylor University of Missouri at Kansas City Case Objectives and Use Enterprise Risk Management at Great Plains Energy is intended for use in Finance courses including basic finance or those that focus on risk management. It may also be used in Strategic Management courses. In finance the case provides opportunity to examine a company’s early progress in establishing a corporate-wide enterprise risk management program

1 McKinsey Global Survey Results McKinsey Global Survey Results: Valuing corporate social responsibility Valuing corporate social responsibility Environmental, social, and governance programs create shareholder value, most executives believe, but neither CFOs nor professional investors fully include that when evaluating business projects or companies. 1 This survey was in the field in December 2008 and includes responses from 238 CFO s, investment professionals, and finance executives

debt, (iii) why firms fail to “lever up” after stock price increases, and (iv) why leverage rebalancing occurs with a lag despite trivial adjustment costs. This work was supported by the Charles E. Cook/Community Bank and Kenneth King Stonier Chairs at the Marshall School of Business of the University of Southern California. We thank Eugene Fama, David Hirshleifer, Ronald Masulis, Jay Ritter, Berk Sensoy, René Stulz, Amir Sufi, and Mark Westerfield for helpful comments on an earlier draft. hdeangelo@marshall

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Chapter 1 Introduction – what this report is about This paper is intended to provoke and facilitate discussion about the future of agriculture as a commercial activity in the UK. It is written at a time of acute distress as a result of a series of farming misfortunes, BSE, food scares, an adverse shift in the value of the £ relative to the C, and most recently, the outbreak of Foot and Mouth Disease. However, the debate to which it is intended to contribute, and of which the creation of the Department

and social enterprises need to equip their organisations – in terms of skills, financial planning and control systems, strategic self-awareness and good data on costs, financial and non-financial performance – for a changed financial ecosystem and risk universe. This involves strategic conversations and hard decisions, not about doing only what can be done with diminished funds from existing sources, but rather about how to identify, measure, fund and deliver what will be important in a rapidly-changing

Annual Report 2009 Financial Highlights CEO Letter to Shareholders Letter from the Chairman Financial Report To navigate this document: › Use the navigation at the top of each page or the page forward/back arrows to go to other sections › Left click to move to the next page, right click to move to the previous page (in full-screen mode only) › Rollover for more information or enlarged views McDonald’s Corporation Annual Report 2009 INTRO Table of Contents Financial Highlights

* The draft Basel III regulations include: * "tighter definitions of Tier 1 capital, * the introduction of a leverage ratio, * a framework for counter-cyclical capital buffers, * measures to limit counterparty credit risk, * and short and medium-term quantitative liquidity ratios."[4] Professionals and officers with Basel II knowledge and experience will be required to lead the new Basel III projects, and they have started studying the differences from the Basel

set of discussion questions. Since estimating and planning are meant to be whole team activities, one of the ways I hoped this book would be read is by teams who could meet perhaps weekly to discuss what they’ve read and could discuss the questions at the end of each chapter. Since agile software development is popular worldwide, I have tried to avoid writing an overly United States-centric book. To that end, I have used the universal currency symbol, writing amounts such as ¤500 instead of perhaps

thought it would be good to own shares of this company for the 10-week period. [pic] Figure 1: The higher highs and higher lows of Kraft Food stock price over a one-year period. Source: www.yahoo.com Section 2: Fundamental Analysis Looking at the liquidity measures (figure 2) for Kraft, we can observe that the company has a current ratio greater than 1, which means that their current assets are greater than their current liabilities. Kraft’s current ratio (1.1) is slightly lower than the