Match each type of non-systematic risk listed on the left with the corporate investment scenario on the right that best illustrates it.
- Credit RiskA corporation fails to make a scheduled interest payment to its debenture holders due to severe cash flow shortages.
- Business RiskA commercial airline experiences an operational breakdown and loss of market share after mismanaging a fleet upgrade strategy.
- Liquidity RiskAn investor holding unlisted municipal revenue bonds must offer a steep price concession to find a buyer on short notice.
- Regulatory RiskA specialized agrochemical manufacturer incurs heavy losses after a federal agency enacts an immediate ban on its flagship pesticide.
Cevap
Credit Risk matches failing to make a scheduled interest payment; Business Risk matches operational breakdown and fleet strategy mismanagement; Liquidity Risk matches offering a steep price concession to sell unlisted bonds quickly; Regulatory Risk matches heavy losses following a federal ban on a flagship product.
Each risk type uniquely matches its scenario: Credit Risk reflects default on debt obligations (missing coupon payments); Business Risk reflects operational and strategic failure specific to a corporation (mismanaging a fleet strategy); Liquidity Risk reflects the inability to liquidate an asset rapidly without price concessions (selling unlisted bonds on short notice); Regulatory Risk reflects losses caused by government policy or legislative changes (a federal product ban).
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Anahtar Kavram
Non-systematic risks are company- or industry-specific risks that can be mitigated through diversification, including credit, business, liquidity, and regulatory risks.