Table of Contents

Declaration…………………………………………………….. ..2
Acknowledgements…………………………………………….3
Dedication……………………………………………………………………4
Abstract……………………………………………………………5
List of Tables and Figures……………………………………..6
Acronyms (Abbreviation) ……………………………………..13
Chapter One: Introduction
1.0 Introduction………………………………………………………………..14
1.1 Background Information and Overview………………………………..14
1.2 Research Problem………………………………………………………..24
1.3 Research Objectives………………………………………………………26
1.4 Rationale and Justification of the topic…………………………………28
1.5 Research Questions……………………………………………………..30
1.6 Research Hypothesis…………………………………………………….33
1.7 Research Approach………………………………………………………36
1.8 Learning Style and Suitability of the Researcher……………………..37
1.9 Contribution and Recipients of the Study……………………………..40
1.10 The Scope and Limitations of the Research…………………………..41
1.11 Dissertation Organisation and Structure………………………………43
Chapter Two: Literature Review
2.0 Literature Review………………………………………………………….46
2.1 Literature Introduction…………………………………………………….47
2.2 Literature Review: Theme -1 (Financial and Non-Financial………….50
Institutions)
2.3 Literature Review: Theme 2 – (Risk Management)……….……………55
2.4 Literature Review: Theme 3 – (Derivatives Contracts)…………………56
2.5 Literature Review: Theme 4 – (Hedging)…………………………………58
2.6 Contextualizing the Research in the Literature…………………………..62
2.7 Quantification / Measurement of Risk …………………………………….63
2.8 Setting of Risk Limits and the Monitoring of Quantification and
Setting of Risk Limits…………………………………………………………….66
2.9 Learning‘s from 2008 Financial and Economic Crisis …………………69
2.10 The Impacts of the ‗New Capital Transparency and
Adequacy – (Basel III) …………………………………………………………..71
2.11 The Role of Derivatives Markets…………………………………………74
2.11.1 Why derivatives are important in an economy?……………………………78
2.11.2 What are the risks involved in Derivatives and why do we need
to evaluate the soundness of counter party risk?………………………………….79
2.11.3 Example of Ryanair hedging strategies………………………………83
2.12 Literature Review Conclusion……………………………………………86
Chapter Three: Research Methodology
3.0 Research Methodology………………………………………….…………..90
3.1 Research Questions, Aim and Themes……………………………………93
3.2 Research Design …………………………………………………………….94
3.3 Research Philosophy ………………………….…………………………….96
3.4 Research Approach………………………………………………………….104
3.5 Research Strategies…………………………. ……………………………..109
3.6 Sampling……………………………………………………………………….112
3.7 Data Collection………………………………………………………………..119
3.8 Data Analysis …………………………………………………………………124
3.9 Plans for Completion …………………………………………………………126
3.10 Research Ethics……………………………………………………………..128
3.11 Research Limitations…………………………………………………….….130
Chapter Four: Data Analysis, Findings and Discussions
4.0 Introduction…………………………………………………………………….132
4.1 Research Process……………………………………………………………..133
4.2 Survey Distribution Process and Responses……………………………….134
4.3 Survey Background Questions and Data Analysis…………………………134
4.4 Survey Research Questions, Data Analysis and Discussions…………..138
4.5 Discussions Conclusion………………………………………………………163
Chapter Five: Conclusion and Recommendations
5.0 Introduction……………………………………………………………………..165
5.1 Conclusion………………………………………………………………………166
5.2 Limitations of the Research…………………………………………………..172
5.3 Recommendations for Further Research……………………………………172
Chapter Six: Self-Reflection on Own Learning
Curve and Performance
6.0 Self-Reflection on Own Learning Curve and Performance………………175
6.1 Introduction……………………………………………………………………..175
6.2 Learning Styles…………………………………………………………………177
6.3 Academic and Professional Background…………………………………….184
6.4 Research Process Assessment……………………………………………….186
6.5 Personal Development during Master‘s Studies…………………………….188
6.6 Conclusion on Self-Reflection…………………………………………………192
References……………………………………………………………..194
Appendices
Literature Appendix 1: Types of Risk and Risk Management…………………215
Literature Appendix 2: Types of Derivatives Contracts ……………….……….234
Literature Appendix 3: The Financial Crisis of 2008……………………………242
Literature Appendix 4: Valuable Quotes and Commentaries………………….251
Literature Appendix 5: BIS Basel III ―New Capital Transparency and
Adequacy (NCTA) ‖ Reforms…………………………………………………….259
Literature Appendix 6: Working Examples of Derivatives Contracts
Hedging Strategies (DCHS)……………………………………………………….264
Appendix 7: Other Research Strategies………………………………………….272
Appendix 8: Research Survey Process…………………………………………..285
List of Tables and Figures
List of Tables
Table 1: Public Debt as a percentage of GDP, (selected Countries)…………246
Table 2: Individual Bank Minimum Capital Conservation Standards…………262
Table 3: Individual Bank Minimum Capital Conservation Standards
(When subject to 2.5% countercyclical capital requirement) ………..263
Table 4: Differences between Deduction and Induction ……………………….108
Table 5: Quantitative and Qualitative Research…………………………………120
Table 6: The Advantages and Disadvantages of Secondary Data…….………124
Table 7: VAR King up the Right Tree – Learning Styles Descriptions…………182