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shareholder financial risks

hey friends,,

a financial company take risk management has moved for being a specialty discipline into the mainstream of activities within a corporate treasury, debate has arisen about whether it can and does increase shareholder value.In this column, I will first recapitulate the theoretical arguments and then summarise the empirical evidence.
A" in a world with no taxes, no transaction costs and a fixed investment policy, investors can create their own "home-made" risk management by holding diversified portfolios.
b" effective tax function is convex and if the firm is subject to financial price-induced Volatility in its pre-tax income, hedging will reduce its tax liability.
c"shareholder or investor should never be uninformed and unconcerned when events or corporate actions or inaction effects the financial health of the corporation.
thanks for reading my column and must comments on it
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