Definitions for some of the terms and concepts mentioned in this article. Some, such as risk, CSOs deal with on a regular basis. Others are important to understanding and valuing risk in corporate finance. The Black-Scholes formula was developed in 1973 by economists Fischer Black, Myron Scholes and Robert Merton. It is a way to determine the worth of an option to buy at a given time. A beta of less than one indicates lower risk than the market; a beta of over one indicates higher risk.”]
Source: https://www.csoonline.com/article/2117560/a-glossary-of-financial-risk-management-terms.html