Michael Frenkel, Ulrich Hommel, Markus Rudolf This volume has been written in honor of Gunter Dufey who has dedicated his professional career to the advancement of international business education around the globe and who has done much to improve our understanding of risk management as a challenge as well as an opportunity for shareholder-value-driven enterprises. The editors have used his 60th birthday at the beginning of the new millenium as a welcome opportunity to honor his lifelong commitment to research, university teaching and executive training. We have done so by bringing together a select group of individuals who have joined us in an effort to highlight the most recent developments as well as the immediate challenges in the field of risk management. The contributors have all been influenced by Gunter Dufey’s work as students, co-authors, faculty colleagues and fellow researchers. The collection of papers contained in this volume bears witness to his mentoring role and builds on his own research agenda. Throughout his professional career, Gunter Dufey has been regarded as the prototype of the global citizen by his friends and collegues.