Search results for: risk transfer
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 8622

Search results for: risk transfer

8352 Flood Planning Based on Risk Optimization: A Case Study in Phan-Calo River Basin in Vinh Phuc Province, Vietnam

Authors: Nguyen Quang Kim, Nguyen Thu Hien, Nguyen Thien Dung

Abstract:

Flood disasters are increasing worldwide in both frequency and magnitude. Every year in Vietnam, flood causes great damage to people, property, and environmental degradation. The flood risk management policy in Vietnam is currently updated. The planning of flood mitigation strategies is reviewed to make a decision how to reach sustainable flood risk reduction. This paper discusses the basic approach where the measures of flood protection are chosen based on minimizing the present value of expected monetary expenses, total residual risk and costs of flood control measures. This approach will be proposed and demonstrated in a case study for flood risk management in Vinh Phuc province of Vietnam. Research also proposed the framework to find a solution of optimal protection level and optimal measures of the flood. It provides an explicit economic basis for flood risk management plans and interactive effects of options for flood damage reduction. The results of the case study are demonstrated and discussed which would provide the processing of actions helped decision makers to choose flood risk reduction investment options.

Keywords: drainage plan, flood planning, flood risk, residual risk, risk optimization

Procedia PDF Downloads 235
8351 Climate Related Financial Risk on Automobile Industry and the Impact to the Financial Institutions

Authors: Mahalakshmi Vivekanandan S.

Abstract:

As per the recent changes happening in the global policies, climate-related changes and the impact it causes across every sector are viewed as green swan events – in essence, climate-related changes can often happen and lead to risk and a lot of uncertainty, but needs to be mitigated instead of considering them as black swan events. This brings about a question on how this risk can be computed so that the financial institutions can plan to mitigate it. Climate-related changes impact all risk types – credit risk, market risk, operational risk, liquidity risk, reputational risk and other risk types. And the models required to compute this has to consider the different industrial needs of the counterparty, as well as the factors that are contributing to this – be it in the form of different risk drivers, or the different transmission channels or the different approaches and the granular form of data availability. This brings out the suggestion that the climate-related changes, though it affects Pillar I risks, will be a Pillar II risk. This has to be modeled specifically based on the financial institution’s actual exposure to different industries instead of generalizing the risk charge. And this will have to be considered as the additional capital to be met by the financial institution in addition to their Pillar I risks, as well as the existing Pillar II risks. In this paper, the author presents a risk assessment framework to model and assess climate change risks - for both credit and market risks. This framework helps in assessing the different scenarios and how the different transition risks affect the risk associated with the different parties. This research paper delves into the topic of the increase in the concentration of greenhouse gases that in turn cause global warming. It then considers the various scenarios of having the different risk drivers impacting the Credit and market risk of an institution by understanding the transmission channels and also considering the transition risk. The paper then focuses on the industry that’s fast seeing a disruption: the automobile industry. The paper uses the framework to show how the climate changes and the change to the relevant policies have impacted the entire financial institution. Appropriate statistical models for forecasting, anomaly detection and scenario modeling are built to demonstrate how the framework can be used by the relevant agencies to understand their financial risks. The paper also focuses on the climate risk calculation for the Pillar II Capital calculations and how it will make sense for the bank to maintain this in addition to their regular Pillar I and Pillar II capital.

Keywords: capital calculation, climate risk, credit risk, pillar ii risk, scenario modeling

Procedia PDF Downloads 133
8350 Proposal of a Model Supporting Decision-Making Based on Multi-Objective Optimization Analysis on Information Security Risk Treatment

Authors: Ritsuko Kawasaki (Aiba), Takeshi Hiromatsu

Abstract:

Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Moreover, risks generally have trends and it also should be considered in risk treatment. Therefore, this paper provides the extension of the model proposed in the previous study. The original model supports the selection of measures by applying a combination of weighted average method and goal programming method for multi-objective analysis to find an optimal solution. The extended model includes the notion of weights to the risks, and the larger weight means the priority of the risk.

Keywords: information security risk treatment, selection of risk measures, risk acceptance, multi-objective optimization

Procedia PDF Downloads 460
8349 A New Criterion Using Pose and Shape of Objects for Collision Risk Estimation

Authors: DoHyeung Kim, DaeHee Seo, ByungDoo Kim, ByungGil Lee

Abstract:

As many recent researches being implemented in aviation and maritime aspects, strong doubts have been raised concerning the reliability of the estimation of collision risk. It is shown that using position and velocity of objects can lead to imprecise results. In this paper, therefore, a new approach to the estimation of collision risks using pose and shape of objects is proposed. Simulation results are presented validating the accuracy of the new criterion to adapt to collision risk algorithm based on fuzzy logic.

Keywords: collision risk, pose, shape, fuzzy logic

Procedia PDF Downloads 525
8348 Analysis and Modeling of the Building’s Facades in Terms of Different Convection Coefficients

Authors: Enes Yasa, Guven Fidan

Abstract:

Building Simulation tools need to better evaluate convective heat exchanges between external air and wall surfaces. Previous analysis demonstrated the significant effects of convective heat transfer coefficient values on the room energy balance. Some authors have pointed out that large discrepancies observed between widely used building thermal models can be attributed to the different correlations used to calculate or impose the value of the convective heat transfer coefficients. Moreover, numerous researchers have made sensitivity calculations and proved that the choice of Convective Heat Transfer Coefficient values can lead to differences from 20% to 40% of energy demands. The thermal losses to the ambient from a building surface or a roof mounted solar collector represent an important portion of the overall energy balance and depend heavily on the wind induced convection. In an effort to help designers make better use of the available correlations in the literature for the external convection coefficients due to the wind, a critical discussion and a suitable tabulation is presented, on the basis of algebraic form of the coefficients and their dependence upon characteristic length and wind direction, in addition to wind speed. Many research works have been conducted since early eighties focused on the convection heat transfer problems inside buildings. In this context, a Computational Fluid Dynamics (CFD) program has been used to predict external convective heat transfer coefficients at external building surfaces. For the building facades model, effects of wind speed and temperature differences between the surfaces and the external air have been analyzed, showing different heat transfer conditions and coefficients. In order to provide further information on external convective heat transfer coefficients, a numerical work is presented in this paper, using a Computational Fluid Dynamics (CFD) commercial package (CFX) to predict convective heat transfer coefficients at external building surface.

Keywords: CFD in buildings, external convective heat transfer coefficients, building facades, thermal modelling

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8347 CFD-Parametric Study in Stator Heat Transfer of an Axial Flux Permanent Magnet Machine

Authors: Alireza Rasekh, Peter Sergeant, Jan Vierendeels

Abstract:

This paper copes with the numerical simulation for convective heat transfer in the stator disk of an axial flux permanent magnet (AFPM) electrical machine. Overheating is one of the main issues in the design of AFMPs, which mainly occurs in the stator disk, so that it needs to be prevented. A rotor-stator configuration with 16 magnets at the periphery of the rotor is considered. Air is allowed to flow through openings in the rotor disk and channels being formed between the magnets and in the gap region between the magnets and the stator surface. The rotating channels between the magnets act as a driving force for the air flow. The significant non-dimensional parameters are the rotational Reynolds number, the gap size ratio, the magnet thickness ratio, and the magnet angle ratio. The goal is to find correlations for the Nusselt number on the stator disk according to these non-dimensional numbers. Therefore, CFD simulations have been performed with the multiple reference frame (MRF) technique to model the rotary motion of the rotor and the flow around and inside the machine. A minimization method is introduced by a pattern-search algorithm to find the appropriate values of the reference temperature. It is found that the correlations are fast, robust and is capable of predicting the stator heat transfer with a good accuracy. The results reveal that the magnet angle ratio diminishes the stator heat transfer, whereas the rotational Reynolds number and the magnet thickness ratio improve the convective heat transfer. On the other hand, there a certain gap size ratio at which the stator heat transfer reaches a maximum.

Keywords: AFPM, CFD, magnet parameters, stator heat transfer

Procedia PDF Downloads 245
8346 Bereavement Risk Assessment of Family Caregivers of Patients with Cancer: Relationship between Bereavement Risk and Post-Loss Psychological Distress

Authors: Tomohiro Uchida, Noriaki Satake, Toshimichi Nakaho, Akira Inoue, Hidemitsu Saito

Abstract:

In this study, we assessed the bereavement risk of family caregivers of patients with cancer. In the palliative care unit of Tohoku University Hospital, we conducted a family psychoeducation session to support the family caregivers of patients with cancer. A total of 50 participants (8 males and 42 females; mean age = 62.98 years, SD = 11.10) were assessed after the session for bereavement risk using the Japanese version of the Bereavement Risk Assessment Tool (BRAT-J). According to the BRAT-J scores, eight participants were considered to be having no known risk (Level 1), seventeen had minimal risk (Level 2), twenty had a low risk (Level 3), four had a moderate risk (Level 4), and one had a high risk (Level 5). Of these participants, seven participants had completed the follow-up postal survey that assessed their psychological distress (the Kessler Psychological Distress Scale: K6) to compare the bereavement risk. According to the K6 scores, three-fourth of the individuals, who were considered to be at Level 3 on the BRAT-J, scored higher than the cutoff point (>10) for the detection of depressive disorder. On the other hand, one-third of the individuals, who were considered to be at Level 2 on the BRAT-J, scored higher than the cutoff point. Therefore, it appears that the BRAT-J can predict the likelihood of difficulties or complications in bereaved family caregivers. This research was approved by the Ethics Committee of Tohoku University Graduate School of Medicine and Tohoku University Hospital.

Keywords: palliative care, family caregivers, bereavement risk, BRAT, post-loss psychological distress

Procedia PDF Downloads 452
8345 Measures for Earthquake Risk Reduction in Algeria

Authors: Farah Lazzali, Yamina Ait Meziane

Abstract:

Recent earthquakes in Algeria have demonstrated the need for seismic risk reduction. In fact, the latest major earthquake that affected the Algiers-Boumerdes region in 2003 caused excessive levels of loss of life and property. Economic, social and environmental damage were also experienced. During the three days following the event, a relatively weak coordination of public authority was noted. Many localities did not receive any relief due to lack of information from concerned authorities and delay in connecting damaged roads. Following this event, Algerian government and civil society has recognized the urgent need for an appropriate and immediate seismic risk mitigation strategy. This paper describes procedures for emergency response following past earthquakes in Algeria and provides a brief review of risk mitigation activities since 1980. The paper also aims to provide measures to reduce earthquake risk through general strategy and practical implementation of the mitigation actions.

Keywords: earthquake, hazard, prevention, strategy, risk reduction

Procedia PDF Downloads 526
8344 Simulation and Hardware Implementation of Data Communication Between CAN Controllers for Automotive Applications

Authors: R. M. Kalayappan, N. Kathiravan

Abstract:

In automobile industries, Controller Area Network (CAN) is widely used to reduce the system complexity and inter-task communication. Therefore, this paper proposes the hardware implementation of data frame communication between one controller to other. The CAN data frames and protocols will be explained deeply, here. The data frames are transferred without any collision or corruption. The simulation is made in the KEIL vision software to display the data transfer between transmitter and receiver in CAN. ARM7 micro-controller is used to transfer data’s between the controllers in real time. Data transfer is verified using the CRO.

Keywords: control area network (CAN), automotive electronic control unit, CAN 2.0, industry

Procedia PDF Downloads 397
8343 Monitoring Systemic Risk in the Hedge Fund Sector

Authors: Frank Hespeler, Giuseppe Loiacono

Abstract:

We propose measures for systemic risk generated through intra-sectorial interdependencies in the hedge fund sector. These measures are based on variations in the average cross-effects of funds showing significant interdependency between their individual returns and the moments of the sector’s return distribution. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and are consistent with intuitive interpretation of the results.

Keywords: hedge funds, systemic risk, vector autoregressive model, risk monitoring

Procedia PDF Downloads 321
8342 Integrated Risk Management as a Framework for Organisational Success

Authors: Olakunle Felix Adekunle

Abstract:

Risk management is recognised as an essential tool to tackle the inevitable uncertainty associated with business and projects at all levels. But it frequently fails to meet expectations, with projects continuing to run late, over budget or under performing, and business is not gaining the expected benefits. The evident disconnect which often occurs between strategic vision and tactical project delivery typically arises from poorly defined project objectives and inadequate attention to the proactive management of risks that could affect those objectives. One of the main failings in the traditional approach to risk management arises from a narrow focus on the downside, restricted to the technical or operational field, addressing tactical threats to processes, performance or people. This shortcoming can be overcome by widening the scope of risk management to encompass both strategic risks and upside opportunities, creating an integrated approach which can bridge the gap between strategy and tactics. Integrated risk management addresses risk across a variety of levels in the organisation, including strategy and tactics, and covering both opportunity and threat. Effective implementation of integrated risk management can produce a number of benefits to the organisation which are not available from the typical limited-scope risk process. This paper explores how to expand risk management to deliver strategic advantage while retaining its use as a tactical tool.

Keywords: risk management, success, organization, strategy, project, tactis, vision

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8341 A Risk Pathway of Distal and Proximal Factors for Self-Injury among Adolescents

Authors: Sarit Gideoni Cohen

Abstract:

The aim of the study was to examine possible risk pathway which initiated by the distal risk factors of insecure attachment to the mother, the father and peers and then developed by means of proximal risk factors: stressful life events and emotional distress. 275 participants (aged 13-26) from high-schools, youth groups and university were requited. Twenty-two percent participants reported at least one episode of self-injury. The relationship between paternal and peer attachment were partly mediated by stressful life events and depressive symptoms. Paternal and peer attachment influences during adolescence as contributing to risk pathway for self-injury were acknowledged.

Keywords: self-injury, attachment, depression, stressful life-events, adolescence

Procedia PDF Downloads 226
8340 Transfer of Electrical Energy by Magnetic Induction

Authors: Carlos Oliveira Santiago Filho, Ciro Egoavil, Eduardo Oliveira, Jéferson Galdino, Moises Galileu, Tiago Oliveira Correa

Abstract:

Transfer of Electrical Energy through resonant inductive magnetic coupling is demonstrated experimentally in a system containing coil primary for transmission and secondary reception. The topology used in the prototype of the Class-E amplifier, has been identified as optimal for power transfer applications. Characteristic of the inductor and the load are defined by the requirements of the resonant inductive system. The frequency limitation the of circuit restricts unloaded “Q-Factor”, quality factor of the coils and thus the link efficiency. With a suitable circuit, copper coil unloaded Q-Factors of over 1,000 can be achieved in the low Mhz region, enabling a cost-effective high Q coil assembly. The circuit is capable system capable of transmitting energy with direct current to load efficiency above 60% at 2 Mhz.

Keywords: magnetic induction, transfer of electrical energy, magnetic coupling, Q-Factor

Procedia PDF Downloads 514
8339 Effect of Tilt Angle of Herringbone Microstructures on Enhancement of Heat and Mass Transfer

Authors: Nathan Estrada, Fangjun Shu, Yanxing Wang

Abstract:

The heat and mass transfer characteristics of a simple shear flow over a surface covered with staggered herringbone structures are numerically investigated using the lattice Boltzmann method. The focus is on the effect of ridge angle of the structures on the enhancement of heat and mass transfer. In the simulation, the temperature and mass concentration are modeled as a passive scalar released from the moving top wall and absorbed at the structured bottom wall. Reynolds number is fixed at 100. Two Prandtl or Schmidt numbers, 1 and 10, are considered. The results show that the advective scalar transport plays a more important role at larger Schmidt numbers. The fluid travels downward with higher scalar concentration into the grooves at the backward grove tips and travel upward with lower scalar concentration at the forward grove tips. Different tile angles result in different flow advection in wall-normal direction and thus different heat and mass transport efficiencies. The maximum enhancement is achieved at an angle between 15o and 30o. The mechanism of heat and mass transfer is analyzed in detail.

Keywords: fluid mechanics, heat and mass transfer, microfluidics, staggered herringbone mixer

Procedia PDF Downloads 105
8338 Effects of Heat Source Position on Heat Transfer in an Inclined Square Enclosure Filled with Nanofluids

Authors: Khamis Al Kalbani

Abstract:

The effects of a uniform heat source position on the heat transfer flow inside an inclined square enclosure filled with different types of nanofluids having various shapes of the nanoparticles are investigated numerically following one component thermal equilibrium model. The effects of the Brownian diffusion of the nanoparticles, magnetic field intensity and orientation are taken into consideration in nanofluid modeling. The heat source is placed in the middle of a wall of the enclosure while the opposite wall of it is kept at different temperature. The other walls of the enclosure are kept insulated. The results indicate that the heat source position significantly controls the heat transfer rates of the nanofluids. The distributions of the average heat transfer rates varying the position of the heat source with respect to the geometry inclination angle are calculated for the first time. The outcomes of the present research may be helpful for designing solar thermal collectors, radiators, building insulators and advanced cooling of a nuclear system.

Keywords: heat source, inclined, square enclosure, nanofluids

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8337 A Tale of Seven Districts: Reviewing The Past, Present and Future of Patent Litigation Filings to Form a Two-Step Burden-Shifting Framework for 28 U.S.C. § 1404(a)

Authors: Timothy T. Hsieh

Abstract:

Current patent venue transfer laws under 28 U.S.C. § 1404(a) e.g., the Gilbert factors from Gulf Oil Corp. v. Gilbert, 330 U.S. 501 (1947) are too malleable in that they often lead to frequent mandamus orders from the U.S. Court of Appeals for the Federal Circuit (“Federal Circuit”) overturning district court rulings on venue transfer motions. Thus, this paper proposes a more robust two-step burden-shifting framework that replaces the eight Gilbert factors. Moreover, a brief history of venue transfer patterns in the seven most active federal patent district courts is covered, with special focus devoted to the venue transfer orders from Judge Alan D Albright of the U.S. District Court for the Western District of Texas. A comprehensive data summary of 45 case sets where the Federal Circuit ruled on writs of mandamus involving Judge Albright’s transfer orders is subsequently provided, with coverage summaries of certain cases including four precedential ones from the Federal Circuit. This proposed two-step burden shifting framework is then applied to these venue transfer cases, as well as Federal Circuit mandamus orders ruling on those decisions. Finally, alternative approaches to remedying the frequent reversals for venue transfer will be discussed, including potential legislative solutions, adjustments to common law framework approaches to venue transfer, deference to the inherent powers of Article III U.S. District Judge, and a unified federal patent district court. Overall, this paper seeks to offer a more robust and consistent three-step burden-shifting framework for venue transfer and for the Federal Circuit to follow in administering mandamus orders, which might change somewhat in light of Western District of Texas Chief Judge Orlando Garcia’s order on redistributing Judge Albright’s patent cases.

Keywords: Patent law, venue, judge Alan Albright, minimum contacts, western district of Texas

Procedia PDF Downloads 100
8336 The Impact of Corporate Governance on Risk Taking in European Insurance Industry

Authors: Francesco Venuti, Simona Alfiero

Abstract:

The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: agency theory, corporate governance, insurance companies, risk taking

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8335 Detecting Local Clusters of Childhood Malnutrition in the Island Province of Marinduque, Philippines Using Spatial Scan Statistic

Authors: Novee Lor C. Leyso, Maylin C. Palatino

Abstract:

Under-five malnutrition continues to persist in the Philippines, particularly in the island Province of Marinduque, with prevalence of some forms of malnutrition even worsening in recent years. Local spatial cluster detection provides a spatial perspective in understanding this phenomenon as key in analyzing patterns of geographic variation, identification of community-appropriate programs and interventions, and focused targeting on high-risk areas. Using data from a province-wide household-based census conducted in 2014–2016, this study aimed to determine and evaluate spatial clusters of under-five malnutrition, across the province and within each municipality at the individual level using household location. Malnutrition was defined as weight-for-age z-score that fall outside the 2 standard deviations from the median of the WHO reference population. The Kulldorff’s elliptical spatial scan statistic in binomial model was used to locate clusters with high-risk of malnutrition, while adjusting for age and membership to government conditional cash transfer program as proxy for socio-economic status. One large significant cluster of under-five malnutrition was found southwest of the province, in which living in these areas at least doubles the risk of malnutrition. Additionally, at least one significant cluster were identified within each municipality—mostly located along the coastal areas. All these indicate apparent geographical variations across and within municipalities in the province. There were also similarities and disparities in the patterns of risk of malnutrition in each cluster across municipalities, and even within municipality, suggesting underlying causes at work that warrants further investigation. Therefore, community-appropriate programs and interventions should be identified and should be focused on high-risk areas to maximize limited government resources. Further studies are also recommended to determine factors affecting variations in childhood malnutrition considering the evidence of spatial clustering found in this study.

Keywords: Binomial model, Kulldorff’s elliptical spatial scan statistic, Philippines, under-five malnutrition

Procedia PDF Downloads 138
8334 Development of Risk Management System for Urban Railroad Underground Structures and Surrounding Ground

Authors: Y. K. Park, B. K. Kim, J. W. Lee, S. J. Lee

Abstract:

To assess the risk of the underground structures and surrounding ground, we collect basic data by the engineering method of measurement, exploration and surveys and, derive the risk through proper analysis and each assessment for urban railroad underground structures and surrounding ground including station inflow. Basic data are obtained by the fiber-optic sensors, MEMS sensors, water quantity/quality sensors, tunnel scanner, ground penetrating radar, light weight deflectometer, and are evaluated if they are more than the proper value or not. Based on these data, we analyze the risk level of urban railroad underground structures and surrounding ground. And we develop the risk management system to manage efficiently these data and to support a convenient interface environment at input/output of data.

Keywords: urban railroad, underground structures, ground subsidence, station inflow, risk

Procedia PDF Downloads 331
8333 Clustering for Detection of the Population at Risk of Anticholinergic Medication

Authors: A. Shirazibeheshti, T. Radwan, A. Ettefaghian, G. Wilson, C. Luca, Farbod Khanizadeh

Abstract:

Anticholinergic medication has been associated with events such as falls, delirium, and cognitive impairment in older patients. To further assess this, anticholinergic burden scores have been developed to quantify risk. A risk model based on clustering was deployed in a healthcare management system to cluster patients into multiple risk groups according to anticholinergic burden scores of multiple medicines prescribed to patients to facilitate clinical decision-making. To do so, anticholinergic burden scores of drugs were extracted from the literature, which categorizes the risk on a scale of 1 to 3. Given the patients’ prescription data on the healthcare database, a weighted anticholinergic risk score was derived per patient based on the prescription of multiple anticholinergic drugs. This study was conducted on over 300,000 records of patients currently registered with a major regional UK-based healthcare provider. The weighted risk scores were used as inputs to an unsupervised learning algorithm (mean-shift clustering) that groups patients into clusters that represent different levels of anticholinergic risk. To further evaluate the performance of the model, any association between the average risk score within each group and other factors such as socioeconomic status (i.e., Index of Multiple Deprivation) and an index of health and disability were investigated. The clustering identifies a group of 15 patients at the highest risk from multiple anticholinergic medication. Our findings also show that this group of patients is located within more deprived areas of London compared to the population of other risk groups. Furthermore, the prescription of anticholinergic medicines is more skewed to female than male patients, indicating that females are more at risk from this kind of multiple medications. The risk may be monitored and controlled in well artificial intelligence-equipped healthcare management systems.

Keywords: anticholinergic medicines, clustering, deprivation, socioeconomic status

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8332 Proposal of a Model Supporting Decision-Making on Information Security Risk Treatment

Authors: Ritsuko Kawasaki, Takeshi Hiromatsu

Abstract:

Management is required to understand all information security risks within an organization, and to make decisions on which information security risks should be treated in what level by allocating how much amount of cost. However, such decision-making is not usually easy, because various measures for risk treatment must be selected with the suitable application levels. In addition, some measures may have objectives conflicting with each other. It also makes the selection difficult. Therefore, this paper provides a model which supports the selection of measures by applying multi-objective analysis to find an optimal solution. Additionally, a list of measures is also provided to make the selection easier and more effective without any leakage of measures.

Keywords: information security risk treatment, selection of risk measures, risk acceptance, multi-objective optimization

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8331 A Financial Analysis of the Current State of IKEA: A Case Study

Authors: Isabela Vieira, Leonor Carvalho Garcez, Adalmiro Pereira, Tânia Teixeira

Abstract:

In the present work, we aim to analyse IKEA as a company, by focusing on its development, financial analysis and future benchmarks, as well as applying some of the knowledge learned in class, namely hedging and other financial risk mitigation solutions, to understand how IKEA navigates and protects itself from risk. The decision that led us to choose IKEA for our casework has to do with the long history of the company since the 1940s and its high internationalization in 63 different markets. The company also has clear financial reports which aided us in the making of the present essay and naturally, was a factor that contributed to our decision.

Keywords: Ikea, financial risk, risk management, hedge

Procedia PDF Downloads 43
8330 Heat Transfer Studies for LNG Vaporization During Underwater LNG Releases

Authors: S. Naveen, V. Sivasubramanian

Abstract:

A modeling theory is proposed to consider the vaporization of LNG during its contact with water following its release from an underwater source. The spillage of LNG underwater can lead to a decrease in the surface temperature of water and subsequent freezing. This can in turn affect the heat flux distribution from the released LNG onto the water surrounding it. The available models predict the rate of vaporization considering the surface of contact as a solid wall, and considering the entire phenomena as a solid-liquid operation. This assumption greatly under-predicted the overall heat transfer on LNG water interface. The vaporization flux would first decrease during the film boiling, followed by an increase during the transition boiling and a steady decrease during the nucleate boiling. A superheat theory is introduced to enhance the accuracy in the prediction of the heat transfer between LNG and water. The work suggests that considering the superheat theory can greatly enhance the prediction of LNG vaporization on underwater releases and also help improve the study of overall thermodynamics.

Keywords: evaporation rate, heat transfer, LNG vaporization, underwater LNG release

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8329 Unsteady Stagnation-Point Flow towards a Shrinking Sheet with Radiation Effect

Authors: F. M. Ali, R. Nazar, N. M. Arifin, I. Pop

Abstract:

In this paper, the problem of unsteady stagnation-point flow and heat transfer induced by a shrinking sheet in the presence of radiation effect is studied. The transformed boundary layer equations are solved numerically by the shooting method. The influence of radiation, unsteadiness and shrinking parameters, and the Prandtl number on the reduced skin friction coefficient and the heat transfer coefficient, as well as the velocity and temperature profiles are presented and discussed in detail. It is found that dual solutions exist and the temperature distribution becomes less significant with radiation parameter.

Keywords: heat transfer, radiation effect, shrinking sheet unsteady flow

Procedia PDF Downloads 383
8328 Intellectual Property Risk Assessment in Planning Market Entry to China

Authors: Qing Cao

Abstract:

Generally speaking, China has a relatively high level of intellectual property (IP) infringement. Risk assessment is indispensable in the strategic planning process. To complement the current literature in international business, the paper sheds the light on how to assess IP risk for foreign companies in planning market entry to China. Evaluating internal and external IP environment, proposed in the paper, consists of external analysis, internal analysis and further internal analysis. Through position the company’s IP environment, the risk assessment approach enables the foreign companies to either build the corresponding IP strategies or abort the entry plan beforehand to minimize the IP risks.

Keywords: intellectual property, IP environment, risk assessment

Procedia PDF Downloads 557
8327 Sex Education Training Program Effect on Junior Secondary School Students Knowledge and Practice of Sexual Risk Behavior

Authors: Diyaolu Babajide Olufemi, Oyerinde Oyewole Olusesan

Abstract:

This study examined the effect of sex education training programs on the knowledge and practice of sexual risk behavior among secondary school adolescents in Ibadan North Local Government area of Oyo State. A total of 105 students were sampled from two schools in the Local Government area. Seventy students (70) constituted the experimental group while thirty-five (35) constituted the control group. Pretest-Posttest control group quasi-experimental design was adopted. A self-developed questionnaire was used to test participants’ knowledge and practice of sexual risk behavior before and after the training (α=.62, .82 and .74). Analysis indicated a significant effect of sex education training on participants’ knowledge and practice of sexual risk behavior, a significant gender difference in knowledge of sexual risk behavior but no significant age and gender difference in the practice of sexual risk behavior. It was thus concluded that sex education should be taught in schools and emphasized at homes with no age or gender restrictions.

Keywords: early adolescent, health risk, sexual risk behavior, sex education

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8326 CFD simulation of Near Wall Turbulence and Heat Transfer of Molten Salts

Authors: C. S. Sona, Makrand A. Khanwale, Channamallikarjun S. Mathpati

Abstract:

New generation nuclear power plants are currently being developed to be highly economical, to be passive safe, to produce hydrogen. An important feature of these reactors will be the use of coolants at temperature higher than that being used in current nuclear reactors. The molten fluoride salt with a eutectic composition of 46.5% LiF - 11.5% NaF - 42% KF (mol %) commonly known as FLiNaK is a leading candidate for heat transfer coolant for these nuclear reactors. CFD simulations were carried out using large eddy simulations to investigate the flow characteristics of molten FLiNaK at 850°C at a Reynolds number of 10,500 in a cylindrical pipe. Simulation results have been validated with the help of mean velocity profile using direct numerical simulation data. Transient velocity information was used to identify and characterise turbulent structures which are important for transfer of heat across solid-fluid interface. A wavelet transform based methodology called wavelet transform modulus maxima was used to identify and characterise the singularities. This analysis was also used for flow visualisation, and also to calculate the heat transfer coefficient using small eddy model. The predicted Nusselt number showed good agreement with the available experimental data.

Keywords: FLiNaK, heat transfer, molten salt, turbulent structures

Procedia PDF Downloads 445
8325 Environmental Governance and Opportunities for Disaster Risk Reduction in Nigeria

Authors: Willie Eselebor

Abstract:

Environmental governance is not new, but may consist of a series of actions taken to establish sanity and ensure sustainable environment. While there is a growing accord linking disaster risk reduction with the management of environment and natural resources, little is known about failure to act which constitute vulnerability and how improved governance reduces risk globally. The paper reviews emerging trends in the field of application of governance tools and approaches for reducing disaster risk. The Hyogo Framework for Action (HFA) enjoin all stakeholders to stimulate the sustainable use and management of ecosystems, which promote the implementation of integrated environmental and natural resource planning that incorporate disaster risk reduction, including structural and non-structural measures, such as integrated management of fragile ecosystems. The methodology adopted is a case study of disaster-prone sites, prompting guided analysis on which hazards are traceable to environmental degradation, why a degraded environment reduces community resilience; how healthy ecosystems provide natural defense, and which opportunities exist to address gaps in reduction of disasters in Nigeria. The paper further analyses the interaction between disaster risk and environmental change. It is established that environmental governance remains a challenge; which implies that there is the need for a shift in traditional approaches to disaster risk management; exploring new initiatives and allowing environmental managers to be docketed as disaster risk managers in context, potentially opening up a window of dialogue on disaster risk management.

Keywords: disaster, ecosystem, environment, risk

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8324 A Structural Equation Model of Risk Perception of Rockfall for Revisit Intention

Authors: Ya-Fen Lee, Yun-Yao Chi

Abstract:

The study aims to explore the relationship between risk perceptions of rockfall and revisit intention using a Structural Equation Modelling (SEM) analysis. A total of 573 valid questionnaires are collected from travelers to Taroko National Park, Taiwan. The findings show the majority of travellers have the medium perception of rockfall risk, and are willing to revisit the Taroko National Park. The revisit intention to Taroko National Park is influenced by hazardous preferences, willingness-to-pay, obstruction and attraction. The risk perception has an indirect effect on revisit intention through influencing willingness-to-pay. The study results can be a reference for mitigation the rockfall disaster.

Keywords: risk perception, rockfall, revisit intention, structural equation modelling

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8323 Evaluation of Transfer Capability Considering Uncertainties of System Operating Condition and System Cascading Collapse

Authors: Nur Ashida Salim, Muhammad Murtadha Othman, Ismail Musirin, Mohd Salleh Serwan

Abstract:

Over the past few decades, the power system industry in many developing and developed countries has gone through a restructuring process of the industry where they are moving towards a deregulated power industry. This situation will lead to competition among the generation and distribution companies to achieve a certain objective which is to provide quality and efficient production of electric energy, which will reduce the price of electricity. Therefore it is important to obtain an accurate value of the Available Transfer Capability (ATC) and Transmission Reliability Margin (TRM) in order to ensure the effective power transfer between areas during the occurrence of uncertainties in the system. In this paper, the TRM and ATC is determined by taking into consideration the uncertainties of the system operating condition and system cascading collapse by applying the bootstrap technique. A case study of the IEEE RTS-79 is employed to verify the robustness of the technique proposed in the determination of TRM and ATC.

Keywords: available transfer capability, bootstrap technique, cascading collapse, transmission reliability margin

Procedia PDF Downloads 403