Search results for: risk disclosure

Authors: Juniarti, Agus Arianto Toly

Abstract:

This study aims to examine the effect of capital expenditure on the investors’ responses. The respondents were companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. Top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange were selected. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, and risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results showed that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study found that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures.

Keywords: capital expenditure, growth signals, investor response, risk

Procedia PDF Downloads 141

Authors: Roman Graf, Sergiu Gordea, Heather M. Ryan

Abstract:

This paper presents an approach for the easy creation of an institutional risk profile for endangerment analysis of file formats. The main contribution of this work is the employment of data mining techniques to support risk factors set up with just the most important values that are important for a particular organisation. Subsequently, the risk profile employs fuzzy models and associated configurations for the file format metadata aggregator to support digital preservation experts with a semi-automatic estimation of endangerment level for file formats. Our goal is to make use of a domain expert knowledge base aggregated from a digital preservation survey in order to detect preservation risks for a particular institution. Another contribution is support for visualisation and analysis of risk factors for a requried dimension. The proposed methods improve the visibility of risk factor information and the quality of a digital preservation process. The presented approach is meant to facilitate decision making for the preservation of digital content in libraries and archives using domain expert knowledge and automatically aggregated file format metadata from linked open data sources. To facilitate decision-making, the aggregated information about the risk factors is presented as a multidimensional vector. The goal is to visualise particular dimensions of this vector for analysis by an expert. The sample risk profile calculation and the visualisation of some risk factor dimensions is presented in the evaluation section.

Keywords: digital information management, file format, endangerment analysis, fuzzy models

Procedia PDF Downloads 404

Authors: Prateep Wajeetongratana

Abstract:

The objective of this research is to examine the effects of internal audit innovation on firm performance effectiveness influences of financial report reliability, organizational process improvement, and risk management effectiveness. This paper drew upon the survey data collected from 400 employees survey conducted at Nonthaburi province, Thailand. The statistics utilized in this paper included percentage, mean, standard deviation, and regression analysis. The findings revealed that the majority of samples were between 31-40 years old, married, held an undergraduate degree, and had an average income between 10,000-15,000 baht. And also the results show that auditing integration has only influence on financial report reliability. Moreover, corporate risk evaluation has effect on firm performance by risk management effectiveness and control self-assessment has effect influence on firm performance by organizational process improvement and risk management effectiveness as well.

Keywords: corporate risk evaluation, firm performance effectiveness, internal audit innovation, marketing management

Procedia PDF Downloads 377

Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi

Abstract:

In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.

Keywords: behavioral theory, investment growth, risk-based theory, stock returns

Procedia PDF Downloads 156

Authors: Risna Wijayanti, Sumiati, Hanif Iswari

Abstract:

This study aims to analyze the role of financial risk attitude as a mediation between financial knowledge and business growth. The ability of human resources in managing capital (financial literacy) can be a major milestone for a company's business to grow and build its competitive advantage. This study analyzed the important role of financial risk attitude in bringing about financial knowledge on corporate growth. There have been many discussions arguing that financial knowledge is one of the main abilities of corporate managers in determining the success of managing a company. However, a contrary argument of other scholars also enlightened that financial knowledge did not have a significant influence on corporate growth. This study used literatures' review to analyze whether there is another variable that can mediate the effect of financial knowledge toward corporate growth. Research mapping was conducted to analyze the concept of risk tolerance. This concept was related to people's risk aversion effects when making a decision under risk and the role of financial knowledge on changes in financial income. Understanding and managing risks and investments are complicated, in particular for corporate managers, who are always demanded to maintain their corporate growth. Substantial financial knowledge is extremely needed to identify and take accurate information for corporate financial decision-making. By reviewing several literature, this study hypothesized that financial knowledge of corporate managers would be meaningless without manager's courage to bear risks for taking favorable business opportunities. Therefore, the level of risk aversion from corporate managers will determine corporate action, which is a reflection of corporate-level investment behavior leading to attain corporate success or failure for achieving the company's expected growth rate.

Keywords: financial knowledge, financial risk attitude, corporate growth, risk tolerance

Procedia PDF Downloads 129

Authors: Irni Rahmayani Johan, Ira Kamelia

Abstract:

One of the impacts of the rapid advancement of technology is the rise of digital finance, including peer-to-peer lending (P2P). P2P lending has been widely marketed, including an online student loan that used the P2P platform. This study aims to analyze the effect of financial literacy, perception of debt, and perception of risk toward student willingness to use the online student loan (P2P lending). Using a cross-sectional study design, in collecting the data this study employed an online survey method, with a total sample of 280 undergraduate students of IPB university, Indonesia. This study found that financial literacy, perception of debt, perception of risk, and interest in using online student loans are categorized as low level. While the level of knowledge is found to be the lowest, the first-year students showed a higher level in terms of willingness to use the online student loan. In addition, the second year students recorded a positive perception toward debt. This study showed that level of study, attendance in personal finance course, and student’ GPA is positively related to financial knowledge. While debt perception is negatively related to financial attitudes. Similarly, the negative relationship is found between risk perception and the willingness to use the online student loan. The determinant factor of the willingness to use online student loans is the level of study, debt perception, financial risk perception, and time risk perception. Students with a higher level of study are more likely to have a lower interest in using online student loans. Moreover, students who perceived debt as a financial stimulator, as well as those with higher level of financial risk perceptions and time risk perceptions, tend to show more interest to use the loan.

Keywords: financial literacy, willingness to use, online student loan, perception of risk, perception of debt

Procedia PDF Downloads 144

Authors: M. Marsadek, A. Mohamed

Abstract:

Power system security analysis is the most time demanding process due to large number of possible contingencies that need to be analyzed.  In a power system, any contingency resulting in security violation such as line overload or low voltage may occur for a number of reasons at any time.  To efficiently rank a contingency, both probability and the extent of security violation must be considered so as not to underestimate the risk associated with the contingency. This paper proposed a contingency ranking method that take into account the probabilistic nature of power system and the severity of contingency by using a newly developed method based on risk factor.  The proposed technique is implemented on IEEE 24-bus system.

Keywords: line overload, low voltage, probability, risk factor, severity

Procedia PDF Downloads 545

Authors: Kasirga Yildirak, Ismail Gur

Abstract:

We propose a model to measure hail risk of an Agricultural Insurance portfolio. Hail is one of the major catastrophic event that causes big amount of loss to an insurer. Moreover, it is very hard to predict due to its strange atmospheric characteristics. We make use of parcel based claims data on apricot damage collected by the Turkish Agricultural Insurance Pool (TARSIM). As our ultimate aim is to compute the loadings assigned to specific parcels, we build a portfolio risk model that makes use of PD and the severity of the exposures. PD is computed by Spherical-Linear and Circular –Linear regression models as the data carries coordinate information and seasonality. Severity is mapped into integer brackets so that Probability Generation Function could be employed. Individual regressions are run on each clusters estimated on different criteria. Loss distribution is constructed by Panjer Recursion technique. We also show that one risk-one crop model can easily be extended to the multi risk–multi crop model by assuming conditional independency.

Keywords: hail insurance, spherical regression, circular regression, spherical clustering

Procedia PDF Downloads 251

Authors: Chloe E. Edwards, Yasaman Shahtaheri

Abstract:

Risk management plays a fundamental role in project planning and delivery. The purpose of incorporating risk management into project management practices is to identify and address uncertainties related to key project-related activities. The uncertainties, known as risk events, can relate to project deliverables that are quantifiable and are often measured by impact to project schedule, cost, or environmental impact. Risk management should be incorporated as an iterative practice throughout the planning, execution, and commissioning phases of a project. This paper specifically examines how risk management contributes to effective project planning and delivery through a case study of a transportation project. This case study focused solely on impacts to project schedule regarding three milestones: readiness for delivery, readiness for testing and commissioning, and completion of the facility. The case study followed the ISO 31000: Risk Management – Guidelines. The key factors that are outlined by these guidelines include understanding the scope and context of the project, conducting a risk assessment including identification, analysis, and evaluation, and lastly, risk treatment through mitigation measures. This process requires continuous consultation with subject matter experts and monitoring to iteratively update the risks accordingly. The risk identification process led to a total of fourteen risks related to design, permitting, construction, and commissioning. The analysis involved running 1,000 Monte Carlo simulations through @RISK 8.0 Industrial software to determine potential milestone completion dates based on the project baseline schedule. These dates include the best case, most likely case, and worst case to provide an estimated delay for each milestone. Evaluation of these results provided insight into which risks were the highest contributors to the projected milestone completion dates. Based on the analysis results, the risk management team was able to provide recommendations for mitigation measures to reduce the likelihood of risks occurring. The risk management team also provided recommendations for managing the identified risks and project activities moving forward to meet the most likely or best-case milestone completion dates.

Keywords: construction management, monte carlo simulation, project delivery, risk assessment, transportation engineering

Procedia PDF Downloads 107

Authors: Swathi Sampath, V. Kalaichelvi

Abstract:

The assessment of the risk posed by a borrower to a lender is one of the common problems that financial institutions have to deal with. Consumers vying for a mortgage are generally compared to each other by the use of a number called the Credit Score, which is generated by applying a mathematical algorithm to information in the applicant’s credit report. The higher the credit score, the lower the risk posed by the candidate, and the better he is to be taken on by the lender. The objective of the present work is to use fuzzy logic and linguistic rules to create a model that generates Credit Scores.

Keywords: credit scoring, fuzzy logic, mortgage, risk assessment

Procedia PDF Downloads 405

Authors: Mustafa Dogru, Ruveyda Komurlu

Abstract:

Companies and professionals in the construction sector face various risks in every project depending on the characteristics, size, complexity, the location of the projects and the techniques used. Some risks’ effects may increase as the project progresses whereas new risks may emerge. Because of the ever-changing nature of the risks, risk management is a cyclical process that needs to be repeated throughout the project. Since the risks threaten the success of the project, risk management is an important part of the entire project management process. The aims of this study are to emphasize the importance of risk management in construction projects, summarize the risk identification process, and introduce a number of methods for preventing risks such as alternative design, checklists, prototyping and test-analysis-correction technique etc. Following the literature review conducted to list the techniques for preventing risks, case studies has been performed to compare and evaluate the success of the techniques in a number of completed projects with the same typology, performed domestic and international. Findings of the study suggest that controlling and minimizing the level of the risks in construction projects, taking optimal precautions for different risks, and mitigating or eliminating the effects of risks are important in order to prevent additional costs for the project. Additionally, focusing on the risks that have highest impact is the most rational way to minimize the effects of the risks on projects.

Keywords: construction projects, construction management, project management, risk management

Procedia PDF Downloads 319

Authors: Lesa A. Thompson, Yoshinori Ikenaka, Victor Wepener, Mayumi Ishizuka

Abstract:

One method for controlling malaria in endemic regions is the killing of vector mosquitoes using pesticides such as DDT in indoor residual spraying (IRS). This study was carried out to investigate the presence of and human health risk due to DDT and its metabolites (collectively, DDTs) contaminating human food sources in areas where DDT is used for IRS. Free-range chicken products (meat and eggs) were collected from homesteads in KwaZulu-Natal Province in the northeast of South Africa, and fish meat samples from Maputo Bay in neighbouring Mozambique. Samples were analysed for DDTs (o,p’-DDT, p,p’-DDT, o,p’-DDD, p,p’-DDD, o,p’-DDE and p,p’-DDE) using a gas chromatograph with electron capture detector (GC-ECD). DDTs were detected in all food types, with the predominant congener being p,p’-DDE. The presence of p,p’-DDT confirmed recent release of DDT into the environment. By using concentration levels detected in foods and national consumption levels, the risk to human health through consumption of such food products was calculated. In order of risk level, these were: chicken eggs > chicken meat > fish meat. Human risk (carcinogenic) values greater than one suggest there is an increased health risk through consumption of these foods.

Keywords: DDT, food contamination, human health risk, Mozambique, South Africa

Procedia PDF Downloads 341

Authors: P. Serpytis, K. Azukaitis, U. Gargalskaite, R. Navickas, J. Badariene, V. Dzenkeviciute

Abstract:

Purpose: Total longitudinal displacement (tLoD) of the common carotid artery (CCA) wall is a novel ultrasound marker of vascular function that can be evaluated using modified speckle tracking techniques. Decreased CCA tLoD has already been shown to be associated with diabetes and was shown to predict one year cardiovascular outcome in patients with suspected coronary artery disease (CAD) . The aim of our study was to evaluate if CCA tLoD differ between patients with moderate or high cardiovascular (CV) risk and patients after recent acute myocardial infarction (AMI). Methods: 49 patients (54±6 years) with moderate or high CV risk and 42 patients (58±7 years) after recent AMI were included. All patients were non-diabetic. CCA tLoD was evaluated using GE EchoPAC speckle tracking software and expressed as mean of both sides. Data on systolic blood pressure, total and high density lipoprotein (HDL) cholesterol levels, high sensitivity C-reactive protein (hsCRP) level, smoking status and family history of early CV events was evaluated and assessed for association with CCA tLoD. Results: tLoD of CCA did not differ between patients with moderate or high CV risk and patients with very high CV risk after MI (0.265±0.128 mm vs. 0.237±0.103 mm, p>0.05). Lower tLoD was associated with lower HDL cholesterol levels (r=0.211, p=0.04) and male sex (0.228±0.1 vs. 0.297±0.134, p=0.01). Conclusions: tLoD of CCA did not differ between patients with moderate or high CV risk and patients with very high CV risk after AMI. However, lower CCA tLoD was significantly associated with low HDL cholesterol levels and male sex.

Keywords: total longitudinal displacement, carotid artery, cardiovascular risk, acute myocardial infarction

Procedia PDF Downloads 384

Authors: Bouba Oumarou Aboubakar, HongXia Li, Sardar Annes Farooq

Abstract:

The Belt and Road Initiative’s success strongly depends on the safety of all the million workers on construction projects sites. As the new BRI is directed toward Africa and meets a completely different culture from the Chinese project managers, maintaining low risk for workers risks shall be closely related to cultural sharing and mutual understanding. This is why this work introduces a cultural-wise safety management framework for Chinese Construction projects in Africa. The theoretical contribution of this paper is an improved risk assessment framework that integrates language, culture and difficulty of controlling risk factors into one approach. Practically, this study provides not only a useful tool for project safety management practitioners but the full understanding of all risks that may arise in the BRI projects in Africa.

Keywords: cultural-wise, safety culture, risk assessment, Chinese construction, BRI projects, Africa

Procedia PDF Downloads 106

Authors: Nabil Mekaoui, Nacer Jabour, Abdelhamid Allaoui, Abderahim Oulidi

Abstract:

The reliability of several insurance indexes of the seismic risk is evaluated and compared for an efficient seismic risk coverage of buildings in Morocco, thus, reducing the basic risk. A large database of earthquake ground motions is established from recent seismic events in Morocco and synthetic ground motions compatible with the design spectrum in order to conduct nonlinear time history analyses on three building models representative of the building stock in Morocco. The uninhabitability index is evaluated based on the simulated damage index, then correlated with preselected insurance indexes. Interestingly, the commonly used peak ground acceleration index showed poor correlation when compared with other indexes, such as spectral accelerations at low periods. Recommendations on the choice of suitable insurance indexes are formulated for efficient seismic risk coverage in Morocco.

Keywords: catastrophe modeling, damage, earthquake, reinsurance, seismic hazard, trigger index, vulnerability

Procedia PDF Downloads 69

Authors: Xiaodong Li, Peng Gao, Chao-Jung Huang, Shiying Hao, Xuefeng B. Ling, Yongxia Han, Yaqi Zhang, Le Zheng, Chengyin Ye, Modi Liu, Minjie Xia, Changlin Fu, Bo Jin, Karl G. Sylvester, Eric Widen

Abstract:

Predicting the risk of Pancreatic Adenocarcinoma (PA) in advance can benefit the quality of care and potentially reduce population mortality and morbidity. The aim of this study was to develop and prospectively validate a risk prediction model to identify patients at risk of new incident PA as early as 3 months before the onset of PA in a statewide, general population in Maine. The PA prediction model was developed using Deep Neural Networks, a deep learning algorithm, with a 2-year electronic-health-record (EHR) cohort. Prospective results showed that our model identified 54.35% of all inpatient episodes of PA, and 91.20% of all PA that required subsequent chemoradiotherapy, with a lead-time of up to 3 months and a true alert of 67.62%. The risk assessment tool has attained an improved discriminative ability. It can be immediately deployed to the health system to provide automatic early warnings to adults at risk of PA. It has potential to identify personalized risk factors to facilitate customized PA interventions.

Keywords: cancer prediction, deep learning, electronic health records, pancreatic adenocarcinoma

Procedia PDF Downloads 155

Authors: Mani Venkatesh, Catarina Delgado, Purvishkumar Patel

Abstract:

The sustainable supply chain is gaining popularity among practitioners because of increased environmental degradation and stakeholder awareness. On the other hand supply chain, risk management is very crucial for the practitioners as it potentially disrupts supply chain operations. Prediction and addressing the risk caused by social issues in the supply chain is paramount importance to the sustainable enterprise. More recently, the usage of Big data analytics for forecasting business trends has been gaining momentum among professionals. The aim of the research is to explore the application of big data, predictive analytics in successfully mitigating supply chain social risk and demonstrate how such mitigation can help in achieving sustainability (environmental, economic & social). The method involves the identification and validation of social issues in the supply chain by an expert panel and survey. Later, we used a case study to illustrate the application of big data in the successful identification and mitigation of social issues in the supply chain. Our result shows that the company can predict various social issues through big data, predictive analytics and mitigate the social risk. We also discuss the implication of this research to the body of knowledge and practice.

Keywords: big data, sustainability, supply chain social sustainability, social risk, case study

Procedia PDF Downloads 408

Authors: Bismina Akbar, Smitha M. V.

Abstract:

Flooding is a global phenomenon that causes widespread devastation, economic damage, and loss of human lives. In the past twenty years, the number of reported flood events has increased significantly. Millions of people around the globe are at risk of flooding from coastal, dam breaks, groundwater, and urban surface water and wastewater sources. Climate change is one of the important causes for them since it affects, directly and indirectly, the river network. Although the contribution of climate change is undeniable, human contributions are there to increase the frequency of floods. There are different types of floods, such as Flash floods, Coastal floods, Urban floods, River (or fluvial) floods, and Ponding (or pluvial flooding). This study focuses on formulating mitigation strategies for urban flood risk reduction through analysis of different best practice case studies, including China, Japan, Indonesia, and Brazil. The mitigation measures suggest that apart from the structural and non-structural measures, environmental considerations like blue-green solutions are beneficial for flood risk reduction. And also, Risk-Informed Master plans are essential nowadays to take risk-based decision processes that enable more sustainability and resilience.

Keywords: hazard, mitigation, risk reduction, urban flood

Procedia PDF Downloads 77

Authors: Sri Yusnita Irda Sari, Deni Kurniadi Sunjaya, Ardini Saptaningsih Raksanagara

Abstract:

Water is one of the fundamental basic needs for human life, particularly drinking water sources. Although water quality is getting better, fecal-contamination of water is still found around the world, especially in the slum area of mid-low income countries. Drinking water source contamination in urban slum dwellers increases the risk of water borne diseases. Low level of sanitation and poor drinking water supply known as risk factors for diarrhea, moreover bacteria-contaminated drinking water source is the main cause of diarrhea in developing countries. This study aimed to assess risk infection due to Fecal Coliform contamination in various drinking water sources in urban area by applying Quantitative Microbiological Risk Assessment (QMRA). A Cross-sectional survey was conducted in a period of August to October 2015. Water samples were taken by simple random sampling from households in Cikapundung river basin which was one of urban slum area in the center of Bandung city, Indonesia. About 379 water samples from 199 households and 15 common wells were tested. Half of the households used treated drinking water from water gallon mostly refill water gallon which was produced in drinking water refill station. Others used raw water sources which need treatment before consume as drinking water such as tap water, borehole, dug well and spring water source. Annual risk to get infection due to Fecal Coliform contamination from highest to lowest risk was dug well (1127.9 x 10-5), spring water (49.7 x 10-5), borehole (1.383 x 10-5) and tap water (1.121 x 10-5). Annual risk infection of refill drinking water was 1.577 x 10-5 which is comparable to borehole and tap water. Household water treatment and storage to make raw water sources drinkable is essential to prevent risk of water borne diseases. Strong regulation and intense monitoring of refill water gallon quality should be prioritized by the government; moreover, distribution of tap water should be more accessible and affordable especially in urban slum area.

Keywords: drinking water, quantitative microbiological risk assessment, slum, urban

Procedia PDF Downloads 281

Authors: Mariam Ismail, Kazeem Rufai, Jeremiah Balogun

Abstract:

A study was conducted to apply fuzzy logic to the development of a monitoring model for child pornography based on associated risk factors, which can be used by forensic experts or integrated into forensic systems for the early detection of child pornographic activities. A number of methods were adopted in the study, which includes an extensive review of related works was done in order to identify the factors that are associated with child pornography following which they were validated by an expert sex psychologist and guidance counselor, and relevant data was collected. Fuzzy membership functions were used to fuzzify the associated variables identified alongside the risk of the occurrence of child pornography based on the inference rules that were provided by the experts consulted, and the fuzzy logic expert system was simulated using the Fuzzy Logic Toolbox available in the MATLAB Software Release 2016. The results of the study showed that there were 4 categories of risk factors required for assessing the risk of a suspect committing child pornography offenses. The results of the study showed that 2 and 3 triangular membership functions were used to formulate the risk factors based on the 2 and 3 number of labels assigned, respectively. The results of the study showed that 5 fuzzy logic models were formulated such that the first 4 was used to assess the impact of each category on child pornography while the last one takes the 4 outputs from the 4 fuzzy logic models as inputs required for assessing the risk of child pornography. The following conclusion was made; there were factors that were related to personal traits, social traits, history of child pornography crimes, and self-regulatory deficiency traits by the suspects required for the assessment of the risk of child pornography crimes committed by a suspect. Using the values of the identified risk factors selected for this study, the risk of child pornography can be easily assessed from their values in order to determine the likelihood of a suspect perpetuating the crime.

Keywords: fuzzy, membership functions, pornography, risk factors

Procedia PDF Downloads 129

Authors: Yukinori Fuse, Masato Kawaguchi

Abstract:

A quantitative risk assessment method was developed for fiber emissions from sprayed asbestos-containing materials (ACMs). In Japan, instead of being quantitative, these risk assessments have relied on the subjective judgment of skilled engineers, which may vary from one person to another. Therefore, this closed sampling method aims at avoiding any potential variability between assessments. This method was used to assess emissions from ACM sprayed in eleven buildings and the obtained results were compared with the subjective judgments of a skilled engineer. An approximate correlation tendency was found between both approaches. In spite of existing uncertainties, the closed sampling method is useful for public health protection. We firmly believe that this method may find application in the management and renovation decisions of buildings using friable and sprayed ACM.

Keywords: asbestos, renovation, risk assessment, maintenance

Procedia PDF Downloads 378

Authors: Abdullah Alsayeqh

Abstract:

The burden of foodborne diseases in Saudi Arabia is currently unknown. The objective of this study was to identify risk factors associated with these diseases among women in Riyadh. A cross-sectional study was carried out from March to July, 2013 where participants’ responses indicated that they were at risk of these diseases through improper food-holding temperature (45.28%), inadequate cooking (35.47%), cross-contamination (32.23%), and food from unsafe sources (22.39%). The claimed food safety knowledge by 22.04% of participants was not evidenced by their reported behaviors (p > 0.05). This is the first study to identify the gap in food safety knowledge among women in Riyadh which needs to be addressed by the concerned authorities in the country by engaging women more effectively in food safety educational campaigns.

Keywords: foodborne diseases, risk factors, knowledge, women, Saudi Arabia

Procedia PDF Downloads 508

Authors: C. V. Pietreanu, S. E. Zaharia, C. Dinu

Abstract:

Hazard assessment and risks quantification are key components for estimating the impact of existing regulations. But since regulatory compliance cannot cover all risks in aviation, the authors point out that by studying causal factors and eliminating uncertainty, an accurate analysis can be outlined. The research debuts by making delimitations on notions, as confusion on the terms over time has reflected in less rigorous analysis. Throughout this paper, it will be emphasized the fact that the variation in human performance and organizational factors represent the biggest threat from an operational perspective. Therefore, advanced risk assessment methods analyzed by the authors aim to understand vulnerabilities of the system given by a nonlinear behavior. Ultimately, the mathematical modeling of existing hazards and risks by eliminating uncertainty implies establishing an optimal solution (i.e. risk minimization).

Keywords: control, human factor, optimization, risk management, uncertainty

Procedia PDF Downloads 249

Authors: S. Alyami, S. Mohammad

Abstract:

These Risk management practices have a significant impact on construction SMEs. The effective utilisation of these practices depends on culture change in order to optimise decision making for critical activities within construction projects. Thus, successful implementation of empowerment strategies would enhance operational employees to participate in effective decision making. However, there remain many barriers to individuals and organisations within empowerment strategies that require empirical investigation before the industry can benefit from their implementation. Gaps in understanding the relationship between employee empowerment and risk management practices still exist. This research paper aims to examine the impact of the structural empowerment on risk management practices in construction SMEs. The questionnaire has been distributed to participants (162 employees) that involve projects and civil engineers within a case study from Saudi construction SMEs. Partial least squares based structural equation modeling (PLS-SEM) was utilised to perform analysis. The results reveal a positive relationship between empowerment and risk management practices. The study shows how structural empowerment contributes to operational employees in risk management practices through involving activities such as decision making, self-efficiency, and autonomy. The findings of this study will contribute to close the current gaps in the construction SMEs context.

Keywords: construction SMEs, culture, decision making, empowerment, risk management

Procedia PDF Downloads 119

Authors: Sareh Rajabi, Salwa Bheiry

Abstract:

In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.

Keywords: portfolio management, risk management, COVID-19, analytical hierarchy process technique

Procedia PDF Downloads 109

Authors: Nadezhda Kvatashidze

Abstract:

The International Accounting Standards Board updated the conceptual framework for financial reporting. The main reason behind it is to resolve the tasks of the accounting, which are caused by the market development and business-transactions of a new economic content. Also, the investors call for higher transparency of information and responsibility for the results in order to make a more accurate risk assessment and forecast. All these make it necessary to further develop the conceptual framework for financial reporting so that the users get useful information. The market development and certain shortcomings of the conceptual framework revealed in practice require its reconsideration and finding new solutions. Some issues and concepts, such as disclosure and supply of information, its qualitative characteristics, assessment, and measurement uncertainty had to be supplemented and perfected. The criteria of recognition of certain elements (assets and liabilities) of reporting had to be updated, too and all this is set out in the updated edition of the conceptual framework for financial reporting, a comprehensive collection of concepts underlying preparation of the financial statement. The main objective of conceptual framework revision is to improve financial reporting and development of clear concepts package. This will support International Accounting Standards Board (IASB) to set common “Approach & Reflection” for similar transactions on the basis of mutually accepted concepts. As a result, companies will be able to develop coherent accounting policies for those transactions or events that are occurred from particular deals to which no standard is used or when standard allows choice of accounting policy.

Keywords: conceptual framework, measurement basis, measurement uncertainty, neutrality, prudence, stewardship

Procedia PDF Downloads 126

Authors: Emmy Pratiwi, Ketut B. Artana, A. A. B. Dinariyana

Abstract:

Madura Strait is considered as one of the busiest shipping channels in Indonesia. High vessel traffic density in Madura Strait gives serious threat due to navigational safety in this area, i.e. ship collision. This study is necessary as an attempt to enhance the safety of marine traffic. Fuzzy inference system (FIS) is proposed to calculate risk collision of ships. Collision risk is evaluated based on ship domain, Distance to Closest Point of Approach (DCPA), and Time to Closest Point of Approach (TCPA). Data were collected by utilizing Automatic Identification System (AIS). This study considers several ships’ domain models to give the characteristic of marine traffic in the waterways. Each encounter in the ship domain is analyzed to obtain the level of collision risk. Risk level of ships, as the result in this study, can be used as guidance to avoid the accident, providing brief description about safety traffic in Madura Strait and improving the navigational safety in the area.

Keywords: automatic identification system, collision risk, DCPA, fuzzy inference system, TCPA

Procedia PDF Downloads 549

Authors: A. Fathianpour, M. B. Jelodar, S. Wilkinson

Abstract:

This paper outlines the approaches taken to assess multi-hazard assessments. There is currently confusion in assessing multi-hazard impacts, and so this study aims to determine which of the available options are the most useful. The paper uses an international literature search, and analysis of current multi-hazard assessments and a case study to illustrate the effectiveness of the chosen method. Findings from this study will help those wanting to assess multi-hazards to undertake a straightforward approach. The paper is significant as it helps to interpret the various approaches and concludes with the preferred method. Many people in the world live in hazardous environments and are susceptible to disasters. Unfortunately, when a disaster strikes it is often compounded by additional cascading hazards, thus people would confront more than one hazard simultaneously. Hazards include natural hazards (earthquakes, floods, etc.) or cascading human-made hazards (for example, Natural Hazard Triggering Technological disasters (Natech) such as fire, explosion, toxic release). Multi-hazards have a more destructive impact on urban areas than one hazard alone. In addition, climate change is creating links between different disasters such as causing landslide dams and debris flows leading to more destructive incidents. Much of the prevailing literature deals with only one hazard at a time. However, recently sophisticated multi-hazard assessments have started to appear. Given that multi-hazards occur, it is essential to take multi-hazard risk assessment under consideration. This paper aims to review the multi-hazard assessment methods through articles published to date and categorize the strengths and disadvantages of using these methods in risk assessment. Napier City is selected as a case study to demonstrate the necessity of using multi-hazard risk assessments. In order to assess multi-hazard risk assessments, first, the current multi-hazard risk assessment methods were described. Next, the drawbacks of these multi-hazard risk assessments were outlined. Finally, the improvements to current multi-hazard risk assessments to date were summarised. Generally, the main problem of multi-hazard risk assessment is to make a valid assumption of risk from the interactions of different hazards. Currently, risk assessment studies have started to assess multi-hazard situations, but drawbacks such as uncertainty and lack of data show the necessity for more precise risk assessment. It should be noted that ignoring or partial considering multi-hazards in risk assessment will lead to an overestimate or overlook in resilient and recovery action managements.

Keywords: cascading hazards, disaster assessment, mullti-hazards, risk assessment

Procedia PDF Downloads 112

Authors: Fei Gao, Rodolfo C. Raga Jr.

Abstract:

This research proposal will ascertain the major risk factors for diabetes and to design a predictive model for risk assessment. The project aims to improve diabetes early detection and management by utilizing data science techniques, which may improve patient outcomes and healthcare efficiency. The phase relation values of each attribute were used to analyze and choose the attributes that might influence the examiner's survival probability using Diabetes Health Indicators Dataset from Kaggle’s data as the research data. We compare and evaluate eight machine learning algorithms. Our investigation begins with comprehensive data preprocessing, including feature engineering and dimensionality reduction, aimed at enhancing data quality. The dataset, comprising health indicators and medical data, serves as a foundation for training and testing these algorithms. A rigorous cross-validation process is applied, and we assess their performance using five key metrics like accuracy, precision, recall, F1-score, and area under the receiver operating characteristic curve (AUC-ROC). After analyzing the data characteristics, investigate their impact on the likelihood of diabetes and develop corresponding risk indicators.

Keywords: diabetes, risk factors, predictive model, risk assessment, data science techniques, early detection, data analysis, Kaggle

Procedia PDF Downloads 74

Authors: David Ahiamadia, Ramilan Thiagarajah, Peter Tozer

Abstract:

In Sub Saharan Africa, farm typologies have been used as a practical way to address heterogeneity among farming systems which is mostly done by grouping farms into subsets with similar characteristics. Due to the complexity in farming systems among farm households, it is not possible to formulate policy recommendations for individual farmers. As a result, this study employs a multivariate statistical approach using Principal Component Analysis (PCA) coupled with cluster analysis to reduce heterogeneity in a 615-household data set from the Africa Rising Baseline Evaluation Survey for 25 farming communities in Northern Ghana. Variables selected for the study were mostly socio-economic, production potential, production intensity, production orientation, crop diversity, food security, resource endowments, and climate risk variables. To avoid making some individuals in the subpopulation worse off when aclimate risk intervention is broadly implemented, the findings of the study also account for diversity in climate risk perception among the different farm types identified and their response strategies towards climate risk. The climate risk variables used in this study involve the most severeclimate shock types perceived by the household, household response to climate shock type, and reason for crop failure (i.e., maize, rice, and groundnut). Eventually, four farm types, each with an adequate level of homogeneity in climate risk perception and response strategies, were identified. Farm type 1 and 3 were wealthy with a lower degree of climate risk perception compared to farm type 2 and 4. Also, relatively wealthy farmers used asset liquidation as a climate risk management strategy, whereas poor farmers resorted to engaging in spiritual activities such as prayers, sacrifices, and divine consultations.

Keywords: smallholder, households, climate risk, variables, typologies

Procedia PDF Downloads 88