Corporates and investors assess and manage different forms and levels of risks. This webinar will feature three rigorous studies that closely examine some of the risks faced by local investors and international firms. Prof Chu Zhang will talk about the counterparty risk in Hong Kong’s derivative warrant market; Prof Peter Mackay will share his findings from the largest global survey of corporate risk management; and Prof Alminas Zaldokas will explain how international firms adjust to antitrust legal risks

Hong Kong Derivative Warrants: the Case of Counterparty Risk
In this presentation, Prof Chu Zhang will explain in layman’s language a recently published research paper regarding Hong Kong’s derivative warrant market. The paper addresses the questions of whether counterparty risk is priced in derivatives in general. The research results show counterparty credit risk matters for derivative pricing.

Corporate Risk Management Around the World
Risk management has risen as a corporate priority since the global financial crisis. Although much is known about risk management in developed markets, much less is known outside these markets, where companies face different conditions, additional risks, and greater scope for stakeholder value creation. In this presentation, Prof Peter Mackay will present findings from the largest global survey of corporate risk management ever taken, and share insights on how firms organize, manage, and monitor their risk-management activities and relate these decisions to firm characteristics.

Antitrust enforcement and corporate finance
Antitrust enforcement against price fixing, bid rigging, market allocation, and firms’ other agreements not to compete has been rising around the world. In light of these changing legal risks of falling under the radar of competition authorities, firms have been adapting their business models, corporate governance policies, securities issuance, and even communication with investors. This short talk will cover Prof Alminas Zaldokas’s findings from his research agenda on international firms’ adjustments to the antitrust legal risks.