This scientific monograph is closely linked to the studies conducted by the Department of Public Management and Social Sciences at the Faculty of Economics, the University of Economics in Katowice. It also reflects the key research areas of interest for the Editors of the publication, as well as the institutions they represent, i.e. the University of Economics in Katowice and the University of Bielsko-Biala. Risk, as a cross-disciplinary category, becomes the subject of analysis for a variety of sciences, including business and technical ones. At the same time it constitutes both a conceptual category and a practical issue, which appears at the borderline between a number of scientific disciplines, such as finance, economics and management. Consequently, risk can be managed using an appropriate array of methods, which vary depending on the area in which the given risk may be experienced. No matter which risks are to be reviewed and evaluated, however, and what definition of risk is adopted, risk remains a demanding but highly quantifiable category. Scientists who explore this phenomenon all over the world have to be prepared to deal with many challenges and we, in our monograph, have attempted to focus on the ones which may be faced when examining risk in the public sector.

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Introduction 7 Public Sector Risk Management Understanding public risk (Piotr Tworek) 11 Part 1. A risk management process in the public sector - theoretical and practical issues Towards a common approach to risk (Jérôme Dendura, Norman Flynn) 29 Risk management in the public sector (Vasyl Lypchuk, Nataliya Voytovych) 64 Finance officers and public risk management (Gerald J. Miller, W. Bartley Hildreth) 76 Hardening analogies in order to reduce risk in foreign policy crisis management (Peter Mameli) 110 Part 2. Different areas of risk management in the public sector - methodical approach Accounting as a relevant source of information for assessing the economic situation of the entity (Renáta Pakšiová) 123 The permanent crisis of "small change" region (Galyna Labins`ka, Ljubov Shevchuk) 132 Transparency and technology: The use of airborne drones for policing in New York City (Peter Mameli) 142 Optimal contribution and investment in a defined benefit pension plan under the expected shortfall constraint (Hong Mao, Krzysztof M. Ostaszewski, Yuling Wang, Zhongkai Wen) 153 Part 3. Managing risks in the public sector in selected countries - results of empirical research Risk management in public service innovations: The case of Slovakia (Juraj Nemec, Beata Mikušová Meričková, Mária Murray Svidroňová) 175 Organisation and risk management practices for fighting corruption: Evidences for the Italian public sector (Federico Ceschel, Alessandro Hinna, Danila Scarozza) 187 The role of internal audit in public sector on the basis of the Republic of Serbia (Snežana Knezević, Aleksandra Mitrović, Veljko Dmitrović) 207 Governance and management in times of crisis: Townships in the Chilean Province of Concepción after the earthquake and tsunami in 2010 (María Inés Picazo, Violeta Montero) 218 References 235 List of figures 255 List of tables 256 About the authors