Events

China Business Knowledge @ CUHK Luncheon Series: Risk Management of Invisible Risks

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Date:

9 May 2019

Time:

12:00-12:30pmRegistration and Networking(Light refreshments will be served.)12:30-1:45pm Presentation and Q&A

Venue:

CUHK Business School Town CentreUnit B, 1/F, Bank of America Tower, 12 Harcourt Road, Central, Hong Kong

Speaker(s):

Prof. Michael Zhang Xiao-quanAssociate Dean (Innovation and Impact)Associate Director, Hong Kong-Shenzhen Finance Research CentreCUHK Business School

Biography of Speaker:

For Prof. Zhang’s biography, please click here:
https://www.bschool.cuhk.edu.hk/staff/zhang-michael-xiaoquan/

For Patrick’s biography, please click here:
https://www.cuhk.edu.hk/bschool/alumni/CBK12_Patrick%20Ip_Bio.pdf  

Admission:

Language: English

Fees:
HK$200 per participant;
HK$150 for CUHK Business School alumni and students

Please register and complete the online payment at https://cloud.itsc.cuhk.edu.hk/forms/forms/42.aspx on or before 8 May 2019 (Wednesday). Successful registrants will receive a confirmation email.

Enquiries:

Ms. Maggie Ching
Tel: +852 3943 4718
Email: maggieching@baf.cuhk.edu.hk

Event Details:

One of the fundamental roles of financial institutions is to manage risks. Risk management often makes assumptions on an underlying distribution of events and relies on statistical inference models to assess their impact. However, in social and economic settings, we often do not know the distribution of events. Even if we know the historical distribution of market returns, there is no way to be sure that the distribution of future returns will remain the same.

Based on his research, Prof. Michael Zhang reveals that uncertainty can be decomposed into pure risk (outcome uncertainty), pure ambiguity (distribution uncertainty), and their interactions. His research results have great implications on black swan events and fat-tailed distributions which are particularly pressing in the market with quantitative models and the future application of artificial intelligence.

With decades of experiences in risk assessment, Mr. Patrick Ip will share his insights on the practical measures we can take to minimize potential risks, with real-life examples of past black swan events.