Frank J. Fabozzi does not need an introduction to the students of Finance. He has great contributions to the literature of finance in the fields of Money Market, Capital market, and issues relating to governing the finance within a financial instituion. The field of operational risk has gained great importance in finance since the last decade. Keeping in view the shift in world focus over the analytical issue in finance with an enhanced focus on executing the financial transaction at pace with improved economic interest in the recent depression era, a new phenomenon of "Controlling the Pace of Finance" is emerging with greater importance on controlling the phenomenon through enhanced Operational Risk controls..!
Being a topic in its adolescence Dr. Fabozzi and his co-authors has given valid explanations for the development of this issue and its role in the recent efforts to control the activities of Financial Institutions with good references from the Basel II Capital Accord and concise references from the existing literature of finance concerning the issue.
The book is of great use for the practitioners of finance who are changing their focus towards operational risk, and also for the students who are beginning their advanced studies in the strange present scenario of world "Micro Financial Economics"...!
I really congratulate all readers who will benefit from the Book. The authors really deserve a round of applause!
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