The following information was submitted:
Transactions: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Transactions ID Number: 89-807
Full Name: Mihaela Carmen Muntean
Position: Lecturer
Age: ON
Sex: Female
Address: Domneasca Street 47, Galati
Country: ROMANIA
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E-mail address: mihaela_c_muntean@yahoo.com
Other E-mails: mihaela.muntean@ugal.ro
Title of the Paper: Application of risk management in modeling international cereal trade
Authors as they appear in the Paper: Costel Nistor, Mihaela-Carmen Muntean, Rozalia Nistor
Email addresses of all the authors: cos_nis@yahoo.com, mihaela_c_muntean@yahoo.com, rozalia.nistor@selir.com
Number of paper pages: 11
Abstract: Over the last two decades, risk management in the economic activity as well as its implications on the economic entities brought about an explosive development of technical and methodological approaches of the concept. This aspect occurred over a period of increase of interdependence degree of the economic systems and acceleration of the information flow. As a result of this process, the diversity of technical and methodological approaches was explained strictly on a disciplinary basis, being founded on a number of criteria varying from the commercial, financial or investment ones up to the psycho-sociological or philosophical ones. This particular approach of risk may induce to the economic receiver the perception of non-systematization of the accomplished analytic constructions and of dynamics of chaos in this new universe of economic knowledge. Any activity or economic effort is based on a number of unknown and uncertain factors or opportunities simply because i!
ts subject is located in the future. There are sometimes situations where the uncertainty is too high, making it virtually impossible because a decision or goal in itself or the way that it can achieve are not sufficiently defined, or that risks could be totally destructive.
Keywords: risk, uncertainty, variable, risk cost, futures contracts, forward contracts
EXTENSION of the file: .pdf
Special (Invited) Session: Risk management in international cereal trade
Organizer of the Session: 634-333
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