Part I Market Risk Management
Empirical Analysis of Risk Measurement of Chinese Mutual Funds ...... 3
Ju Yang
Assess the Impact of Asset Price Shocks on the Banking System ......... 15
Yuan Fang-Ying
Comparative Study on Minimizing the Risk of Options
for Hedge Ratio Model of Futures ........................................... 29
Luo Wenhui
The Application of Option Pricing Theory in Participating
Life Insurance Pricing Based On Vasicek Model ........................... 39
Danwei Qiu, Yue Hu, and Lifang Wang
The Study of Applying Black-Scholes Option Pricing Model
to the Term Life Insurance ................................................... 47
Lifang Wang, Yue Hu, and Danwei Qiu
Evolutionary Variation of Service Trade Barriers in Banking:
A Case of ASEAN+3 .......................................................... 55
Xiaobing Feng
Corporate Board Governance and Risk Taking ............................ 63
Shenglan Chen
The Risk Factors Analysis of the Term Structure of Interest Rate
in the Interbank Bond Market ............................................... 71
Yujun Yang, Hui Huang, and Jing Pang
Pricing of Convertible Bond Based on GARCH Model .................... 77
Mengxian Wang and Yuan Li
Sentiment Capital Asset Cognitive Price and Empirical Evidence
from China’s Stock Market .................................................. 87
Wei Yan, Chunpeng Yang, and Jun Xie
Carbon Emission Markets .................................................... 95
Walid Mnif and Matt Davison
Part II Credit Risk Management
Dynamic Asset Allocation with Credit Risk ................................ 111
Bian Shibo and Zhang Xiaoyang
Analysis of the Factors Influencing Credit Risk
of Commercial Banks ........................................................ 123
Tao Aiyuan and Zhao Sihong
The Credit Risk Measurement of China’s Listed Companies Based
on the KMV Model ........................................................... 137
Zhang Piqiang and Zhou Hancheng
Consumer Credit Risk Research Based on Our Macroeconomic
Environment .................................................................. 161
Zhu Ning and Shi Qiongyao
Wealth Effects of the Creditor in Mergers: Evidence from Chinese
Listed Companies ............................................................ 173
Zhihui Gu and Xiangchao Hao
Part III Risk Management in Enterprises
Research on the Economy Fluctuations with Energy Consumption
of China Based on H-PFiltration ............................................ 191
Hua Wei, Haiyan Tang, Shan Wu, and Yaqun He

Enterprise Risk Assessment and Forecast: Based on Chinese Listed
Companies in 2009–2010 .................................................... 201
Shao Jun, Wang Shuangcheng, and Liu Yanping
The Prevention and Control of Environmental Liability Based on
Environmental Risk Management and Assessment in Enterprise ....... 217
Zhifang Zhou and Xu Xiao
Supply Chain Risk Management Review and a New Framework
for Petroleum Supply Chains ............................................... 227
Lea ˜o Jose ´ Fernandes, Ana Paula Barbosa-Po ´voa, and Susana Relvas
Towards a Supply Risk Management Capability Process Model:
An Analysis of What Constitutes Excellence in Supply Risk
Management Across Different Industry Sectors ........................... 265
Kai Fo ¨rstl, Constantin Blome, Michael Henke, and Tobias Scho ¨nherr
Enterprise Risk Management from Theory to Practice:
The Role of Dynamic Capabilities Approach – the “Spring” Model ..... 281
Amerigo Silvestri, Marika Arena, Enrico Cagno, Paolo Trucco,
and Giovanni Azzone
Part IV Risk Management in Macro-economy
Risk Index of China’s Macroeconomic Operation: Method
and Application ............................................................... 311
Wang Shuzhen and Jia Dekui
Systemic Risk ................................................................. 321
Johannes Hauptmann and Rudi Zagst