Search results for: occupational risks
1788 Illegal Migration and Refugee Crisis as a Threat to National Security, Economic and Social System: The Bulgarian Case
Authors: Jordan Deliversky
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Unlike all conventional forms of migration, migration crisis and migratory processes provide pressure to governments and are being expressed as different phenomenon in relation to nature and forms. The objective of this paper is to present the migration and refugee crisis as revealing numerous challenges faced by authorities responsible for the social and economic stability in Bulgaria as well as those providing conditions for reinforcement of the high level of national security in Bulgaria. The analysis is focused on exploring the multiple origins of factors influencing migration processes in Europe, in the light of the measures provided by the Bulgarian state authorities. The main results show that the society itself is facing the challenge of integrating refugees and migrants, so to be able to comply with the principles and values associated with tolerance to social, religious and cultural differences, and not allowing migrants to become marginalized community. Migration pressure creates a number of risks and threats to the Bulgarian national security. Our country has the capacity and resources to meet these potential threats, as a main factor for minimizing the risks to national security is the improvement of coordination and coherence of actions between various actors serving to the security sector.Keywords: legislation, migrants, refugees, security, terrorism
Procedia PDF Downloads 3441787 Determinants of Market Entry Modes Used by Universities to Expand Internationally
Authors: Ali Bhayani
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The article analyses determinants of the market entry modes used by corporate firms to expand internationally and explore whether higher education institutions uses the same determinants to decide on mode adopted to enter the market. Determinants like transaction costs, location advantage, idiosyncratic capabilities, isomorphic pressure to mimic, psychic distance, uncertainty, risks, the control over academic process, previous internationalisation experience and entry to homogenous markets are considered with regards to universities. A sample consisting of 40+ branch campuses from United Arab Emirates (UAE), host to highest number of branch campuses, is selected to study the determinants of the entry modes adopted. The aim of this article is not to prescribe or offer a solution for the best-available model of market entry that can be adopted by universities but rather to act as a trigger for a critical check up on universities planning to internationalize their offering. Determinants like idiosyncratic capabilities, isomorphic pressure and control over the academic process were found to be most prevalent. However, determinants like transaction cost efficiency, internationalisation experience, psychic distance, uncertainty and risks are not significant factors.Keywords: higher education, UAE, internationalisation, market entry, international branch campuses
Procedia PDF Downloads 3501786 Risk Assessment for International Investment: A Standardized Approach to Identify Risk, Risk Appetite, Risk Rating, Risk Treatment and Mitigation Plans
Authors: Pui Yong Leo, Normy Maziah Mohd Said
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Change of global economy landscape and business environment has led to companies’ decision to go global and enter international markets. As the companies go beyond the comfort zone (i.e. investing in the home country), it is important to ensure a comprehensive risk assessment is carried out. This paper describes a standardized approach for international investment, ensuring identification of risk, risk appetite, risk rating, risk treatment and mitigation plans for respective international investment proposal. The standardized approach is divided into three (3) stages as follows: Stage 1 – Preliminary Risk profiling; with the objective to gauge exposure to countries and high level risk factors as first level assessment. Stage 2 – Risk Parameters; with the objective to define risk appetite for the international investment from the perspective of likelihood and impact. Stage 3 – Detailed Risk Assessments; with the objectives to assess in detail any triggered elements from Stage 1, and project specific risks. The final output will include the mitigation plans for the identified risks for the total investment. Example will be given in this paper to show how comprehensive risk assessment is carried out for an international investment in power energy sector.Keywords: international investment, mitigation plans, risk appetite, risk assessment
Procedia PDF Downloads 3941785 A Smart Monitoring System for Preventing Gas Risks in Indoor
Authors: Gyoutae Park, Geunjun Lyu, Yeonjae Lee, Jaheon Gu, Sanguk Ahn, Hiesik Kim
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In this paper, we propose a system for preventing gas risks through the use of wireless communication modules and intelligent gas safety appliances. Our system configuration consists of an automatic extinguishing system, detectors, a wall-pad, and a microcomputer controlled micom gas meter to monitor gas flow and pressure as well as the occurrence of earthquakes. The automatic fire extinguishing system checks for both combustible gaseous leaks and monitors the environmental temperature, while the detector array measures smoke and CO gas concentrations. Depending on detected conditions, the micom gas meter cuts off an inner valve and generates a warning, the automatic fire-extinguishing system cuts off an external valve and sprays extinguishing materials, or the sensors generate signals and take further action when smoke or CO are detected. Information on intelligent measures taken by the gas safety appliances and sensors are transmitted to the wall-pad, which in turn relays this as real time data to a server that can be monitored via an external network (BcN) connection to a web or mobile application for the management of gas safety. To validate this smart-home gas management system, we field-tested its suitability for use in Korean apartments under several scenarios.Keywords: gas sensor, leak, gas safety, gas meter, gas risk, wireless communication
Procedia PDF Downloads 4171784 Supplier Selection in a Scenario Based Stochastic Model with Uncertain Defectiveness and Delivery Lateness Rates
Authors: Abeer Amayri, Akif A. Bulgak
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Due to today’s globalization as well as outsourcing practices of the companies, the Supply Chain (SC) performances have become more dependent on the efficient movement of material among places that are geographically dispersed, where there is more chance for disruptions. One such disruption is the quality and delivery uncertainties of outsourcing. These uncertainties could lead the products to be unsafe and, as is the case in a number of recent examples, companies may have to end up in recalling their products. As a result of these problems, there is a need to develop a methodology for selecting suppliers globally in view of risks associated with low quality and late delivery. Accordingly, we developed a two-stage stochastic model that captures the risks associated with uncertainty in quality and delivery as well as a solution procedure for the model. The stochastic model developed simultaneously optimizes supplier selection and purchase quantities under price discounts over a time horizon. In particular, our target is the study of global organizations with multiple sites and multiple overseas suppliers, where the pricing is offered in suppliers’ local currencies. Our proposed methodology is applied to a case study for a US automotive company having two assembly plants and four potential global suppliers to illustrate how the proposed model works in practice.Keywords: global supply chains, quality, stochastic programming, supplier selection
Procedia PDF Downloads 4601783 The Significance of Cultural Risks for Western Consultants Executing Gulf Cooperation Council Megaprojects
Authors: Alan Walsh, Peter Walker
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Differences in commercial, professional and personal cultural traditions between western consultants and project sponsors in the Gulf Cooperation Council (GCC) region are potentially significant in the workplace, and this can impact on project outcomes. These cultural differences can, for example, result in conflict amongst senior managers, which can negatively impact the megaproject. New entrants to the GCC often experience ‘culture shock’ as they attempt to integrate into their unfamiliar environments. Megaprojects are unique ventures with individual project characteristics, which need to be considered when managing their associated risks. Megaproject research to date has mostly ignored the significance of the absence of cultural congruence in the GCC, which is surprising considering that there are large volumes of megaprojects in various stages of construction in the GCC. An initial step to dealing with cultural issues is to acknowledge culture as a significant risk factor (SRF). This paper seeks to understand the criticality for western consultants to address these risks. It considers the cultural barriers that exist between GCC sponsors and western consultants and examines the cultural distance between the key actors. Initial findings suggest the presence to a certain extent of ethnocentricity. Other cultural clashes arise out of a lack of appreciation of the customs, practices and traditions of ‘the Other’, such as the need for avoiding public humiliation and the hierarchal significance rankings. The concept and significance of cultural shock as part of the integration process for new arrivals are considered. Culture shock describes the state of anxiety and frustration resulting from the immersion in a culture distinctly different from one's own. There are potentially substantial project risks associated with underestimating the process of cultural integration. This paper examines two distinct but intertwined issues: the societal and professional culture differences associated with expatriate assignments. A case study examines the cultural congruences between GCC sponsors and American, British and German consultants, over a ten-year cycle. This provides indicators as to which nationalities encountered the most profound cultural issues and the nature of these. GCC megaprojects are typically intensive fast track demanding ventures, where consultant turnover is high. The study finds that building trust-filled relationships is key to successful project team integration and therefore, to successful megaproject execution. Findings indicate that both professional and social inclusion processes have steep learning curves. Traditional risk management practice is to approach any uncertainty in a structured way to mitigate the potential impact on project outcomes. This research highlights cultural risk as a significant factor in the management of GCC megaprojects. These risks arising from high staff turnover typically include loss of project knowledge, delays to the project, cost and disruption in replacing staff. This paper calls for cultural risk to be recognised as an SRF, as the first step to developing risk management strategies, and to reduce staff turnover for western consultants in GCC megaprojects.Keywords: western consultants in megaprojects, national culture impacts on GCC megaprojects, significant risk factors in megaprojects, professional culture in megaprojects
Procedia PDF Downloads 1361782 An Evaluation of the Impact of Social Media on Nigerian Youths
Authors: Haruna Shola Adeosun, Lekan M. Togunwa, Ajoke F. Adebiyi
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This paper examines the impact of social media on Nigerian Youths particularly in Nigeria. This study reviewed secondary sources data. The research adopted survey method which involves the use of questionnaire that was administered to gather primary data analysis and presentation were done with the use of tables, figures, percentages and chi-square were used to test the hypotheses formulated. The study revealed that social media consumers, especially Facebook are prone to the benefits or risks aspect of its contents. At this expense, what user derived, seeks, sought and gains from such media depend on the motive they are being used for. The study also revealed that users have the tendency to be positively influenced through heavy or over exposure to numerous contents that are damaging and harmful. This means that social media usage may be considered as good or bad. As its contents may or may not subject consumers to vulnerable use depending on what is saved from it. The study recommends that the use of Facebook should be subjected to gate keeping and monitoring in order to control the activities of users that embrace depression, bullying, sexing and sexual harassment as a way of life. Parents should close watch on their children and caution them towards cultivating the habit of over exposure to social sites so at to protect them form risks social media poses.Keywords: evaluation, impact, soocial media, nigerian youths
Procedia PDF Downloads 2871781 Creating Legitimate Expectations in International Energy Investments: Role of the Stability Provisions
Authors: Rahmi Kopar
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Legitimate expectations principle is considered one of the most dominant elements of the Fair and Equitable Treatment Standard which is today’s most relied upon treaty standard. Since its utilization by arbitral tribunals is relatively new, the contours of the legitimate expectations concept under investment treaty law have not been precisely defined yet. There are various fragmented views arising both from arbitral tribunals and scholarly writings with respect to its limits and use even though the principle is ‘firmly rooted in arbitral practice.’ International energy investments, due to their characteristics, are more prone to certain types of risks, especially the political risks. Thus, there are several mechanisms to protect an energy investment against those risks. Stabilisation is one of these investment protection methods. Stability provisions can be found under domestic legislations, as a contractual clause, or as a separate legal stability agreement. This paper will start by examining the roots of the contentious concept of legitimate expectations with reference to its application in domestic legal systems from where the doctrine under investment treaty law context was transplanted. Then the paper will turn to the investment treaty law and analyse the main contours of the doctrine as understood and applied by arbitral tribunals. 'What gives rise to the investor’s legitimate expectations?' question is answered mainly by three categories of sources: the general legal framework prevalent in a host state, the representations made by the officials or organs of a host state, and the contractual commitments. However, there is no unanimity among the arbitral tribunals and the scholars with respect to the form these sources should take. At this point, the study will discuss the sources of a stability provision and the effect of these stability provisions found in various legal sources in creating a legitimate expectation for the investor. The main questions to be discussed in this paper are as follows: a) Do the stability provisions found under different legal sources create a legitimate expectation on the investor side? b) If yes, what levels of legitimate expectations do they create? These questions will be answered mainly by reference to investment treaty jurisprudence.Keywords: fair and equitable treatment standard, international energy investments, investment protection, legitimate expectations, stabilization
Procedia PDF Downloads 2151780 Dosimetry in Interventional Radiology Examinations for Occupational Exposure Monitoring
Authors: Ava Zarif Sanayei, Sedigheh Sina
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Interventional radiology (IR) uses imaging guidance, including X-rays and CT scans, to deliver therapy precisely. Most IR procedures are performed under local anesthesia and start with a small needle being inserted through the skin, which may be called pinhole surgery or image-guided surgery. There is increasing concern about radiation exposure during interventional radiology procedures due to procedure complexity. The basic aim of optimizing radiation protection as outlined in ICRP 139, is to strike a balance between image quality and radiation dose while maximizing benefits, ensuring that diagnostic interpretation is satisfactory. This study aims to estimate the equivalent doses to the main trunk of the body for the Interventional radiologist and Superintendent using LiF: Mg, Ti (TLD-100) chips at the IR department of a hospital in Shiraz, Iran. In the initial stage, the dosimeters were calibrated with the use of various phantoms. Afterward, a group of dosimeters was prepared, following which they were used for three months. To measure the personal equivalent dose to the body, three TLD chips were put in a tissue-equivalent batch and used under a protective lead apron. After the completion of the duration, TLDs were read out by a TLD reader. The results revealed that these individuals received equivalent doses of 387.39 and 145.11 µSv, respectively. The findings of this investigation revealed that the total radiation exposure to the staff was less than the annual limit of occupational exposure. However, it's imperative to implement appropriate radiation protection measures. Although the dose received by the interventional radiologist is a bit noticeable, it may be due to the reason for using conventional equipment with over-couch x-ray tubes for interventional procedures. It is therefore important to use dedicated equipment and protective means such as glasses and screens whenever compatible with the intervention when they are available or have them fitted to equipment if they are not present. Based on the results, the placement of staff in an appropriate location led to increasing the dose to the radiologist. Manufacturing and installation of moveable lead curtains with a thickness of 0.25 millimeters can effectively minimize the radiation dose to the body. Providing adequate training on radiation safety principles, particularly for technologists, can be an optimal approach to further decreasing exposure.Keywords: interventional radiology, personal monitoring, radiation protection, thermoluminescence dosimetry
Procedia PDF Downloads 621779 Office Workspace Design for Policewomen in Assam, India: Applications for Developing Countries
Authors: Shilpi Bora, Abhirup Chatterjee, Debkumar Chakrabarti
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Organizations of all the sectors around the world are increasingly revisiting their workplace strategies with due concern for women working therein. Limited office space and rigid work arrangements contribute to lesser job satisfaction and greater work impoundments for any organization. Flexible workspace strategies are indispensable to accommodate the progressive rise of modular workstations and involvement of women. Today’s generation of employees deserves malleable office environments with employee-friendly job conditions and strategies. The workplace nowadays stands on rapid organizational changes in progressive and flexible work culture. Occupational well-being practices need to keep pace with the rapid changes in office-based work. Working at the office (workspace) with awkward postures or for long periods can cause pain, discomfort, and injury. The world is stirring towards the era of globalization and progress. The 4000 women police personnel constitute less than one per cent of the total police strength of India. Lots of innovative fields are growing fast, and it is important that we should accommodate women in those arenas. The timeworn trends should be set apart to set out for fresh opportunities and possibilities of development and success through more involvement of women in the workplace. The notion of women policing is gaining position throughout the world, and various countries are putting solemn efforts to mainstream women in policing. As the role of women policing in a society is budding, and thus it is also notable that the accessibility of women at general police stations should be considered. Accordingly, the impact of workspace at police station on the employee productivity has been widely deliberated as a crucial contributor to employee satisfaction leading to better functional motivation. Thus the present research aimed to look into the office workstation design of police station with reference to womanhood specific issues to uplift occupational wellbeing of the policewomen. Personal interview and individual responses collected through administering to a subjective assessment questionnaire on thirty women police as well as to have their views on these issues by purposive non-probability sampling of women police personnel of different ranks posted in Guwahati, Assam, India. Scrutiny of the collected data revealed that office design has a substantial impact on the policewomen job satisfaction in the police station. In this study, the workspace was designed in such a way that the set of factors would impact on the individual to ensure increased productivity. Office design such as furniture, noise, temperature, lighting and spatial arrangement were considered. The primary feature which affected the productivity of policewomen was the furniture used in the workspace, which was found to disturb the everyday and overall productivity of policewomen. Therefore, it was recommended to have proper and adequate ergonomics design intervention to improve the office design for better performance. This type of study is today’s need-of-the-hour to empower women and facilitate their inner talent to come up in service of the nation. The office workspace design also finds critical importance at several other occupations also – where office workstation needs further improvement.Keywords: office workspace design, policewomen, womanhood concerns at workspace, occupational wellbeing
Procedia PDF Downloads 2251778 Heavy Metal Contamination and Its Ecological Risks in the Beach Sediments along the Atlantic Ocean
Authors: Armel Zacharie Ekoa Bessa, Annick Kwewouo Janpou
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Sediments collected along the beaches of the Atlantic Ocean in Africa were analyzed by geochemical proxies such as the ICP-MS technique to determine their heavy metal contamination and related ecological risks. Several metals were selected and show a decreasing trend: Fe > Mn > Ni > Cu > Co > Zn > Cr > Cd. Several pollution indices have been calculated, including the enrichment factor (EF), whose values are generally higher than 1. 5; the geo-accumulation index (I-geo), with values of some elements (Co, Ni and Cu) in the sediments of the study area being higher than 0, and other metals (Zn, Cr, Fe and Mn) being lower than 0; the contamination factor (CF), where the values of all the selected elements are between 1 and 3; and the pollution load index (PLI), where the values in almost all the study sites are higher than 1. These results show moderate contamination of the investigated sediments with heavy metals. The potential ecological risk assessment (Eri and RI) suggests that this part of the African coast is a low to a slight risk area. Statistical analyses indicate that heavy metals have shown fairly similar trends with anthropogenic and natural sources. This study shows that this coastal area is not highly concentrated in heavy metals and reveals that the Atlantic coast of Africa would be moderately polluted by the metals studied, with a low to moderate ecological risk.Keywords: heavy metals, pollution, atlantic ocean, sediments
Procedia PDF Downloads 851777 Evaluation of Occupational Exposure to Chromium for Welders of Stainless Steel
Authors: L. Musak, J. Valachova, T. Vasicko, O. Osina
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Stainless steel is resistant to electrochemical corrosion by passivation. Welders are greatly exposed to welding fumes of toxic metals, which added to this steel. The content of chromium (Cr) is above 11.5%, Ni and Mo from 2 to 6.5%. The aim of the study was the evaluation of occupational exposure to Cr, chromosome analysis and valuation of individual susceptibility polymorphism of gene CCND1 c.870 G>A. The exposed group was consisted from 117 welders of stainless steels. The average age was 38.43 years and average exposure time 7.14 years. Smokers represented 40.17%. The control group consisted of 123 non-exposed workers with an average age of 39.74 years and time employment 16.67 years. Smokers accounted for 22.76%. Analysis of Cr in blood and urine was performed by atomic absorption spectrophotometry (AAS Varian SpectraAA 30P) with electrothermal decomposition of the sample in the graphite furnace. For the evaluation of chromosomal aberrations (CA) cytogenetic analysis of peripheral blood lymphocytes was used. Gene polymorphism was determined by PCR-RFLP reaction using appropriate primers and restriction enzymes. For statistic analysis the Mann-Whitney U-test was used. The mean Cr level in blood of exposed group was 0.095 µmol/l (0.019 min - max 0.504). No value exceeds the average normal value. The mean value Cr in urine was 7.9 µmol/mol creatinine (min 0.026 to max 19.26). The total number of CA was 1.86% in compared to 1.70% controls. (CTA-type 0.90% vs. 0.80% and CSA-type 0.96% vs. 0.90%). In the number of total CA statistical difference was observed between smokers and non-smokers of exposed group (S-1.57% vs. NS-2.04%, P<0.05). In CCND1 gene polymorphisms was observed the increasing of the total CA with wild-type allele (WT) via heterozygous to the VAR genotype (1.44% <1.82% <2.13%). A statistically higher incidence of CTA-type aberrations in variant genotypes between exposed and control groups was observed (1.22% vs. 0.59%, P <0.05). The work place is usually higher source of exposure to harmful factors. Workers need consistent and frequent health control. In assessing the risk of adverse effects of metals it is important to consider their persistence, behavior and bioavailability. Prolonged exposure to carcinogens may not manifest symptoms of poisoning, but delayed effects may occur, which resulted in a higher incidence of malignant tumors.Keywords: CCND1, genotoxicity, polymorphism, stainless steel, welders
Procedia PDF Downloads 3531776 Assessment of Potential Chemical Exposure to Betamethasone Valerate and Clobetasol Propionate in Pharmaceutical Manufacturing Laboratories
Authors: Nadeen Felemban, Hamsa Banjer, Rabaah Jaafari
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One of the most common hazards in the pharmaceutical industry is the chemical hazard, which can cause harm or develop occupational health diseases/illnesses due to chronic exposures to hazardous substances. Therefore, a chemical agent management system is required, including hazard identification, risk assessment, controls for specific hazards and inspections, to keep your workplace healthy and safe. However, routine management monitoring is also required to verify the effectiveness of the control measures. Moreover, Betamethasone Valerate and Clobetasol Propionate are some of the APIs (Active Pharmaceutical Ingredients) with highly hazardous classification-Occupational Hazard Category (OHC 4), which requires a full containment (ECA-D) during handling to avoid chemical exposure. According to Safety Data Sheet, those chemicals are reproductive toxicants (reprotoxicant H360D), which may affect female workers’ health and cause fatal damage to an unborn child, or impair fertility. In this study, qualitative (chemical Risk assessment-qCRA) was conducted to assess the chemical exposure during handling of Betamethasone Valerate and Clobetasol Propionate in pharmaceutical laboratories. The outcomes of qCRA identified that there is a risk of potential chemical exposure (risk rating 8 Amber risk). Therefore, immediate actions were taken to ensure interim controls (according to the Hierarchy of controls) are in place and in use to minimize the risk of chemical exposure. No open handlings should be done out of the Steroid Glove Box Isolator (SGB) with the required Personal Protective Equipment (PPEs). The PPEs include coverall, nitrile hand gloves, safety shoes and powered air-purifying respirators (PAPR). Furthermore, a quantitative assessment (personal air sampling) was conducted to verify the effectiveness of the engineering controls (SGB Isolator) and to confirm if there is chemical exposure, as indicated earlier by qCRA. Three personal air samples were collected using an air sampling pump and filter (IOM2 filters, 25mm glass fiber media). The collected samples were analyzed by HPLC in the BV lab, and the measured concentrations were reported in (ug/m3) with reference to Occupation Exposure Limits, 8hr OELs (8hr TWA) for each analytic. The analytical results are needed in 8hr TWA (8hr Time-weighted Average) to be analyzed using Bayesian statistics (IHDataAnalyst). The results of the Bayesian Likelihood Graph indicate (category 0), which means Exposures are de "minimus," trivial, or non-existent Employees have little to no exposure. Also, these results indicate that the 3 samplings are representative samplings with very low variations (SD=0.0014). In conclusion, the engineering controls were effective in protecting the operators from such exposure. However, routine chemical monitoring is required every 3 years unless there is a change in the processor type of chemicals. Also, frequent management monitoring (daily, weekly, and monthly) is required to ensure the control measures are in place and in use. Furthermore, a Similar Exposure Group (SEG) was identified in this activity and included in the annual health surveillance for health monitoring.Keywords: occupational health and safety, risk assessment, chemical exposure, hierarchy of control, reproductive
Procedia PDF Downloads 1731775 Geographic Information System-Based Identification of Road Traffic Crash Hotspots on Rural Roads in Oman
Authors: Mohammed Bakhit Kashoob, Mohammed Salim Al-Maashani, Ahmed Abdullah Al-Marhoon
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The use of Geographic Information System (GIS) tools in the analysis of traffic crash data can help to identify locations or hotspots with high instances or risk of traffic crashes. The identification of traffic crash hotspots can effectively improve road safety measures. Mapping of road traffic crash hotspots can help the concerned authorities to give priority and take targeted measures and improvements to the road structure at these locations to reduce traffic crashes and fatalities. In Oman, there are countless rural roads that have more risks for traveling vehicles compared to urban roads. The likelihood of traffic crashes as well as fatality rate may increase with the presence of risks that are associated with the rural type of community. In this paper, the traffic crash hotspots on rural roads in Oman are specified using spatial analysis methods in GIS and traffic crash data. These hotspots are ranked based on the frequency of traffic crash occurrence (i.e., number of traffic crashes) and the rate of fatalities. The result of this study presents a map visualization of locations on rural roads with high traffic crashes and high fatalities rates.Keywords: road safety, rural roads, traffic crash, GIS tools
Procedia PDF Downloads 1501774 Children Protection in the Digital Space
Authors: Beverly Komen
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Online crimes have been on the rise in the recent days, especially with the hit of the covid-19 pandemic. The coronavirus pandemic has led to an unprecedented rise in screen time, this means more families are relying on technology and digital solutions to keep children learning, spending more time on the virtual platforms can leave children vulnerable to online abuse and exploitation. With ease access of affordable phones, internet, and increased online activities, all children are at risk of being abused online hence making the digital space unsafe for children. With these increased use of technology and its accessibility, children are at risk of facing challenges such as access to inappropriate content, online grooming, identity theft, cyber bullying, among other risks. The big question is; as we enjoy the benefits brought in by technology, how do we ensure that our children are save in this digital space? With the analysis of the current trends, there is a gap in knowledge on people’s understanding on child online protection and safety measures when using the digital space. A survey conducted among 50 parents in Nairobi in Kenya indicated that there is a gap in knowledge on online protection of children and over 50 % of the participants shared that for sure they have no idea on how to protect children online. This paper seeks to address the concept of child protection in the digital space and come up with viable solutions in protecting children from online vices.Keywords: child protection, digital space, online risks, online grooming, cyber bulying, online child sexual exploitation, and abuse
Procedia PDF Downloads 1871773 Risk Management Approach for a Secure and Performant Integration of Automated Drug Dispensing Systems in Hospitals
Authors: Hind Bouami, Patrick Millot
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Medication dispensing system is a life-critical system whose failure may result in preventable adverse events leading to longer patient stays in hospitals or patient death. Automation has led to great improvements in life-critical systems as it increased safety, efficiency, and comfort. However, critical risks related to medical organization complexity and automated solutions integration can threaten drug dispensing security and performance. Knowledge about the system’s complexity aspects and human machine parameters to control for automated equipment’s security and performance will help operators to secure their automation process and to optimize their system’s reliability. In this context, this study aims to document the operator’s situation awareness about automation risks and parameters involved in automation security and performance. Our risk management approach has been deployed in the North Luxembourg hospital center’s pharmacy, which is equipped with automated drug dispensing systems since 2009. With more than 4 million euros of gains generated, North Luxembourg hospital center’s success story was enabled by the management commitment, pharmacy’s involvement in the implementation and improvement of the automation project, and the close collaboration between the pharmacy and Sinteco’s firm to implement the necessary innovation and organizational actions for automated solutions integration security and performance. An analysis of the actions implemented by the hospital and the parameters involved in automated equipment’s integration security and performance has been made. The parameters to control for automated equipment’s integration security and performance are human aspects (6.25%), technical aspects (50%), and human-machine interaction (43.75%). The implementation of an anthropocentric analysis system before automation would have prevented and optimized the control of risks related to automation.Keywords: Automated drug delivery systems, Hospitals, Human-centered automated system, Risk management
Procedia PDF Downloads 1381772 Ownership and Shareholder Schemes Effects on Airport Corporate Strategy in Europe
Authors: Dimitrios Dimitriou, Maria Sartzetaki
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In the early days of the of civil aviation, airports are totally state-owned companies under the control of national authorities or regional governmental bodies. From that time the picture has totally changed and airports privatisation and airport business commercialisation are key success factors to stimulate air transport demand, generate revenues and attract investors, linked to reliable and resilience of air transport system. Nowadays, airport's corporate strategy deals with policies and actions, affecting essential the business plans, the financial targets and the economic footprint in a regional economy they serving. Therefore, exploring airport corporate strategy is essential to support the decision in business planning, management efficiency, sustainable development and investment attractiveness on one hand; and define policies towards traffic development, revenues generation, capacity expansion, cost efficiency and corporate social responsibility. This paper explores key outputs in airport corporate strategy for different ownership schemes. The airport corporations are grouped in three major schemes: (a) Public, in which the public airport operator acts as part of the government administration or as a corporised public operator; (b) Mixed scheme, in which the majority of the shares and the corporate strategy is driven by the private or the public sector; and (c) Private, in which the airport strategy is driven by the key aspects of globalisation and liberalisation of the aviation sector. By a systemic approach, the key drivers in corporate strategy for modern airport business structures are defined. Key objectives are to define the key strategic opportunities and challenges and assess the corporate goals and risks towards sustainable business development for each scheme. The analysis based on an extensive cross-sectional dataset for a sample of busy European airports providing results on corporate strategy key priorities, risks and business models. The conventional wisdom is to highlight key messages to authorities, institutes and professionals on airport corporate strategy trends and directions.Keywords: airport corporate strategy, airport ownership, airports business models, corporate risks
Procedia PDF Downloads 3071771 Financing from Customers for SMEs and Managing Financial Risks: The Role of Customer Relationships
Authors: Yongsheng Guo, Mengyu Lu
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This study investigates how Chinese SMEs manage financial risks in financing from customers from the perspectives of ethics and national culture. A grounded theory approach is adopted to identify the causal conditions, actions/interactions, and consequences. 32 interviews were conducted, and systematic coding methods were used to identify themes and categories. This study found that Chinese ethical principles, including integrity, friendship, and reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for financing from customers. The SMEs establish trust-based relationships with customers through personal communications and social networks and reduce financial risk through diversification, frequent operations, and enterprise reputations. Both customers and SMEs can get benefits like financial resources and customer experiences. This study creates a theoretical framework that connects the causal conditions, processes, and outcomes, providing a deeper understanding of financing from customers. A resource and process capability theory of SMEs and a customer capital and customer value model are proposed to connect accounting and finance concepts. Suggestions are proposed for the authorities as more guidance and regulations are needed for this informal finance.Keywords: CRM, culture, ethics, SME, risk management
Procedia PDF Downloads 451770 Challenges in Environmental Governance: A Case Study of Risk Perceptions of Environmental Agencies Involved in Flood Management in the Hawkesbury-Nepean Region, Australia
Authors: S. Masud, J. Merson, D. F. Robinson
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The management of environmental resources requires engagement of a range of stakeholders including public/private agencies and different community groups to implement sustainable conservation practices. The challenge which is often ignored is the analysis of agencies involved and their power relations. One of the barriers identified is the difference in risk perceptions among the agencies involved that leads to disjointed efforts of assessing and managing risks. Wood et al 2012, explains that it is important to have an integrated approach to risk management where decision makers address stakeholder perspectives. This is critical for an effective risk management policy. This abstract is part of a PhD research that looks into barriers to flood management under a changing climate and intends to identify bottlenecks that create maladaptation. Experiences are drawn from international practices in the UK and examined in the context of Australia through exploring the flood governance in a highly flood-prone region in Australia: the Hawkesbury Ne-pean catchment as a case study. In this research study several aspects of governance and management are explored: (i) the complexities created by the way different agencies are involved in assessing flood risks (ii) different perceptions on acceptable flood risk level; (iii) perceptions on community engagement in defining acceptable flood risk level; (iv) Views on a holistic flood risk management approach; and, (v) challenges of centralised information system. The study concludes that the complexity of managing a large catchment is exacerbated by the difference in the way professionals perceive the problem. This has led to: (a) different standards for acceptable risks; (b) inconsistent attempt to set-up a regional scale flood management plan beyond the jurisdictional boundaries: (c) absence of a regional scale agency with license to share and update information (d) Lack of forums for dialogue with insurance companies to ensure an integrated approach to flood management. The research takes the Hawkesbury-Nepean catchment as case example and draws from literary evidence from around the world. In addition, conclusions were extrapolated from eighteen semi-structured interviews from agencies involved in flood risk management in the Hawkesbury-Nepean catchment of NSW, Australia. The outcome of this research is to provide a better understanding of complexity in assessing risks against a rapidly changing climate and contribute towards developing effective risk communication strategies thus enabling better management of floods and achieving increased level of support from insurance companies, real-estate agencies, state and regional risk managers and the affected communities.Keywords: adaptive governance, flood management, flood risk communication, stakeholder risk perceptions
Procedia PDF Downloads 2891769 Analysis of Factors Used by Farmers to Manage Risk: A Case Study on Italian Farms
Authors: A. Pontrandolfi, G. Enjolras, F. Capitanio
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The study analyses the strategies Italian farmers use to cope with the risks that face their production. We specifically explore the potential and the limitations of the economic tools for climatic risk management in agriculture of the Common Agricultural Policy 2014-2020, that foresees contributions for economic tools for risk management, in relation to farms’ needs, exposure and vulnerability of agricultural areas to climatic risk. We consider at the farm level approaches to hedge risks in terms of the use of technical tools (agricultural practices, pesticides, fertilizers, irrigation) and economic/financial instruments (insurances, etc.). We develop cross-sectional and longitudinal analyses as well as analyses of correlation that underline the main differences between the way farms adapt their structure and management towards risk. The results show a preference for technical tools, despite the presence of important public aids on economic tools such as insurances. Therefore, there is a strong need for a more effective and integrated risk management policy scheme. Synergies between economic tools and risk reduction actions of a more technical, structural and management nature (production diversification, irrigation infrastructures, technological and management innovations and formation-information-consultancy, etc.) are emphasized.Keywords: agriculture and climate change, climatic risk management, insurance schemes, farmers' approaches to risk management
Procedia PDF Downloads 3461768 The Implications of Kinship Terms in Newspaper Accident Reports
Authors: Tharwat El-Sakran
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The linguistic choices accident news reporters make when reporting killing cases within family circles aid in augmenting the wrath readers feel towards the perpetrators. Undoubtedly, when killers or murderers are labelled with particular words, prospective readers will associate them with the cultural connotations and emotions, whether positive or negative, attached to those words. One of these strategies is the use of kinship terms to anaphorically or cataphorically refer to the defendants. While some articles opt for using the killer’s name, others make use of other kinship labels such as “the mother,” “the father,” “the step-father, and “the step-mother.” The preference for proper nouns over kinship terms and vice versa can be indicative of some of the underlying implications that the article writer may be trying to make about either the status of the killer or the overall incident circumstances. This research examines how the use of referential kinship labels could point to hidden and shared connotations between writers and their prospective readers. This study examined seventy newspaper articles from English-medium publications based in the United Arab Emirates (UAE), the USA, and several other countries. Some of these articles make use of proper nouns referring to the individual directly by name, whereas others refer to individuals based on their kinship relation with the victim or by their occupational status. Furthermore, information was collected from two hundred fifty-one students at several UAE-based universities by asking them what certain kinship words meant to them. The survey questions allowed for real insight into some of the most prevalent interpretations attached to kinship labels and the possible implications for preferring kinship terms over occupational labels and persons’ proper names. Results indicate that newspaper writers employ kinship labels to inspire an emotion in their future readers’ reactions that may not be achieved through the use of the person’s proper name(s). Additionally, respondents to the survey believe that the use of kinship nouns like “mother,” “father,” “step-mother,” and “step-father” tends to inspire a stronger emotional response, as they are almost always associated with particular behavioral cultural codes and conventions. The study concludes with recommendations for teaching the grammar of English words to EFL and mass communication students and with suggestions for translation theorists and further research.Keywords: kinship terms, accident reports, cultural connotations, translation of kinship terms
Procedia PDF Downloads 1341767 Co-Development of an Assisted Manual Harvesting Tool for Peach Palm That Avoids the Harvest in Heights
Authors: Mauricio Quintero Angel, Alexander Pereira, Selene Alarcón
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One of the elements of greatest importance in agricultural production is the harvesting; an activity associated to different occupational health risks such as harvesting in high altitudes, the transport of heavy materials and the application of excessive muscle strain that leads to muscular-bone disorders. Therefore, there is an urgent necessity to improve and validate interventions to reduce exposition and risk to harvesters. This article has the objective of describing the co-development under the ergonomic analysis framework of an assisted manual harvesting tool for peach palm oriented to reduce the risk of death and accidents as it avoid the harvest in heights. The peach palm is a palm tree that is cultivated in Colombia, Perú, Brasil, Costa Rica, among others and that reaches heights of over 20 m, with stipes covered with spines. The fruits are drupes of variable size. For the harvesting of peach palm, in Colombia farmers use the “Marota” or “Climber”, a tool in a closed X shape built in wood, that has two supports adjusted at the stipe, that elevate alternately until reaching a point high enough to grab the bunch that is brought down using a rope. An activity of high risk since it is done at a high altitude without any type of protection and safety measures. The Marota is alternated with a rod, which as variable height between 5 and 12 Meters with a harness system at one end to hold the bunch that is lowered with the whole system (bamboo bunch). The rod is used from the ground or from the Marota in height. As an alternative to traditional tools, the Bajachonta was co-developed with farmers, a tool that employs a traditional bamboo hook system with modifications, to be able to hold it with a rope that passes through a pulley. Once the bunch is hitched, the hook system is detached and this stays attached to the peduncle of the palm tree, afterwards through a pulling force being exerted towards the ground by tensioning the rope, the bunch comes loose to be taken down using a rope and the pulley system to the ground, reducing the risk and efforts in the operation. The bajachonta was evaluated in tree productive zones of Colombia, with innovative farmers, were the adoption is highly probable, with some modifications to improve its efficiency and effectiveness, keeping in mind that the farmers perceive in it an advantage in the reduction of death and accidents by not having to harvest in heights.Keywords: assisted harvesting, ergonomics, harvesting in high altitudes, participative design, peach palm
Procedia PDF Downloads 4081766 Physics of Decision for Polling Place Management: A Case Study from the 2020 USA Presidential Election
Authors: Nafe Moradkhani, Frederick Benaben, Benoit Montreuil, Ali Vatankhah Barenji, Dima Nazzal
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In the context of the global pandemic, the practical management of the 2020 presidential election in the USA was a strong concern. To anticipate and prepare for this election accurately, one of the main challenges was to confront (i) forecasts of voter turnout, (ii) capacities of the facilities and, (iii) potential configuration options of resources. The approach chosen to conduct this anticipative study consists of collecting data about forecasts and using simulation models to work simultaneously on resource allocation and facility configuration of polling places in Fulton County, Georgia’s largest county. A polling place is a dedicated facility where voters cast their ballots in elections using different devices. This article presents the results of the simulations of such places facing pre-identified potential risks. These results are oriented towards the efficiency of these places according to different criteria (health, trust, comfort). Then a dynamic framework is introduced to describe risks as physical forces perturbing the efficiency of the observed system. Finally, the main benefits and contributions resulting from this simulation campaign are presented.Keywords: performance, decision support, simulation, artificial intelligence, risk management, election, pandemics, information system
Procedia PDF Downloads 1521765 Exploring the Genetic Architecture of Chicken Resistance to Avian Influenza Virus
Authors: Haile Berihulay, Chenglong Luo
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Avian influenza, commonly known as bird flu, is a highly contagious viral disease primarily affecting poultry and wild birds, with significant implications for both animal health and public safety. The influenza virus (IV) is notorious for its ability to mutate and infect multiple species, including humans, leading to severe consequences. Avian influenza poses considerable pandemic risks due to the potential evolution of low pathogenic avian influenza (LPAI) into highly pathogenic avian influenza (HPAI), which can cause rapid outbreaks in domestic flocks. While AVI viruses typically do not replicate well in humans, strains such as H5N1 and H7N9 have crossed the species barrier, raising alarm over human infections. The recent documentation of human transmission of the H5N8 strain from birds underscores the ongoing threat posed by avian influenza. This review necessitates a thorough discussion about the genetic foundation of viral pathogens, identifying key candidate genes linked to disease resilience, and discussing powerful tools. This review can help researchers to comprehensively overview the disease severity and combat related to AIV, which causes significant economic impact and set effective control strategies to mitigate the risks associated with avian influenza outbreaks.Keywords: Avian, candidate genes, chicken, molecular, pathogen, virus
Procedia PDF Downloads 221764 Hydro-Meteorological Vulnerability and Planning in Urban Area: The Case of Yaoundé City in Cameroon
Authors: Ouabo Emmanuel Romaric, Amougou Armathe
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Background and aim: The study of impacts of floods and landslides at a small scale, specifically in the urban areas of developing countries is done to provide tools and actors for a better management of risks in such areas, which are now being affected by climate change. The main objective of this study is to assess the hydrometeorological vulnerabilities associated with flooding and urban landslides to propose adaptation measures. Methods: Climatic data analyses were done by calculation of indices of climate change within 50 years (1960-2012). Analyses of field data to determine causes, the level of risk and its consequences on the area of study was carried out using SPSS 18 software. The cartographic analysis and GIS were used to refine the work in space. Then, spatial and terrain analyses were carried out to determine the morphology of field in relation with floods and landslide, and the diffusion on the field. Results: The interannual changes in precipitation has highlighted the surplus years (21), the deficit years (24) and normal years (7). Barakat method bring out evolution of precipitation by jerks and jumps. Floods and landslides are correlated to high precipitation during surplus and normal years. Data field analyses show that populations are conscious (78%) of the risks with 74% of them exposed, but their capacities of adaptation is very low (51%). Floods are the main risk. The soils are classed as feralitic (80%), hydromorphic (15%) and raw mineral (5%). Slope variation (5% to 15%) of small hills and deep valley with anarchic construction favor flood and landslide during heavy precipitation. Mismanagement of waste produce blocks free circulation of river and accentuate floods. Conclusion: Vulnerability of population to hydrometeorological risks in Yaoundé VI is the combination of variation of parameters like precipitation, temperature due to climate change, and the bad planning of construction in urban areas. Because of lack of channels for water to circulate due to saturation of soils, the increase of heavy precipitation and mismanagement of waste, the result are floods and landslides which causes many damages on goods and people.Keywords: climate change, floods, hydrometeorological, vulnerability
Procedia PDF Downloads 4671763 Assessment and Adaptation Strategy of Climate Change to Water Quality in the Erren River and Its Impact to Health
Authors: Pei-Chih Wu, Hsin-Chih Lai, Yung-Lung Lee, Yun-Yao Chi, Ching-Yi Horng, Hsien-Chang Wang
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The impact of climate change to health has always been well documented. Amongst them, water-borne infectious diseases, chronic adverse effects or cancer risks due to chemical contamination in flooding or drought events are especially important in river basin. This study therefore utilizes GIS and different models to integrate demographic, land use, disaster prevention, social-economic factors, and human health assessment in the Erren River basin. Therefore, through the collecting of climatic, demographic, health surveillance, water quality and other water monitoring data, potential risks associated with the Erren River Basin are established and to understand human exposure and vulnerability in response to climate extremes. This study assesses the temporal and spatial patterns of melioidosis (2000-2015) and various cancer incidents in Tainan and Kaohsiung cities. The next step is to analyze the spatial association between diseases incidences, climatic factors, land uses, and other demographic factors by using ArcMap and GeoDa. The study results show that amongst all melioidosis cases in Taiwan, 24% cases (115) residence occurred in the Erren River basin. The relationship between the cases and in Tainan and Kaohsiung cities are associated with population density, aging indicator, and residence in Erren River basin. Risks from flooding due to heavy rainfall and fish farms in spatial lag regression are also related. Through liver cancer, the preliminary analysis in temporal and spatial pattern shows an increases pattern in annual incidence without clusters in Erren River basin. Further analysis of potential cancers connected to heavy metal contamination from water pollution in Erren River is established. The final step is to develop an assessment tool for human exposure from water contamination and vulnerability in response to climate extremes for the second year.Keywords: climate change, health impact, health adaptation, Erren River Basin
Procedia PDF Downloads 3051762 Audit and Assurance Program for AI-Based Technologies
Authors: Beatrice Arthur
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The rapid development of artificial intelligence (AI) has transformed various industries, enabling faster and more accurate decision-making processes. However, with these advancements come increased risks, including data privacy issues, systemic biases, and challenges related to transparency and accountability. As AI technologies become more integrated into business processes, there is a growing need for comprehensive auditing and assurance frameworks to manage these risks and ensure ethical use. This paper provides a literature review on AI auditing and assurance programs, highlighting the importance of adapting traditional audit methodologies to the complexities of AI-driven systems. Objective: The objective of this review is to explore current AI audit practices and their role in mitigating risks, ensuring accountability, and fostering trust in AI systems. The study aims to provide a structured framework for developing audit programs tailored to AI technologies while also investigating how AI impacts governance, risk management, and regulatory compliance in various sectors. Methodology: This research synthesizes findings from academic publications and industry reports from 2014 to 2024, focusing on the intersection of AI technologies and IT assurance practices. The study employs a qualitative review of existing audit methodologies and frameworks, particularly the COBIT 2019 framework, to understand how audit processes can be aligned with AI governance and compliance standards. The review also considers real-time auditing as an emerging necessity for influencing AI system design during early development stages. Outcomes: Preliminary findings indicate that while AI auditing is still in its infancy, it is rapidly gaining traction as both a risk management strategy and a potential driver of business innovation. Auditors are increasingly being called upon to develop controls that address the ethical and operational risks posed by AI systems. The study highlights the need for continuous monitoring and adaptable audit techniques to handle the dynamic nature of AI technologies. Future Directions: Future research will explore the development of AI-specific audit tools and real-time auditing capabilities that can keep pace with evolving technologies. There is also a need for cross-industry collaboration to establish universal standards for AI auditing, particularly in high-risk sectors like healthcare and finance. Further work will involve engaging with industry practitioners and policymakers to refine the proposed governance and audit frameworks. Funding/Support Acknowledgements: This research is supported by the Information Systems Assurance Management Program at Concordia University of Edmonton.Keywords: AI auditing, assurance, risk management, governance, COBIT 2019, transparency, accountability, machine learning, compliance
Procedia PDF Downloads 261761 Dynamic Risk Model for Offshore Decommissioning Using Bayesian Belief Network
Authors: Ahmed O. Babaleye, Rafet E. Kurt
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The global oil and gas industry is beginning to witness an increase in the number of installations moving towards decommissioning. Decommissioning of offshore installations is a complex, costly and hazardous activity, making safety one of the major concerns. Among existing removal options, complete and partial removal options pose the highest risks. Therefore, a dynamic risk model of the accidents from the two options is important to assess the risks on an overall basis. In this study, a risk-based safety model is developed to conduct quantitative risk analysis (QRA) for jacket structure systems failure. Firstly, bow-tie (BT) technique is utilised to model the causal relationship between the system failure and potential accident scenarios. Subsequently, to relax the shortcomings of BT, Bayesian Belief Networks (BBNs) were established to dynamically assess associated uncertainties and conditional dependencies. The BBN is developed through a similitude mapping of the developed bow-tie. The BBN is used to update the failure probabilities of the contributing elements through diagnostic analysis, thus, providing a case-specific and realistic safety analysis method when compared to a bow-tie. This paper presents the application of dynamic safety analysis to guide the allocation of risk control measures and consequently, drive down the avoidable cost of remediation.Keywords: Bayesian belief network, offshore decommissioning, dynamic safety model, quantitative risk analysis
Procedia PDF Downloads 2811760 Extra Skin Removal Surgery and Its Effects: A Comprehensive Review
Authors: Rebin Mzhda Mohammed, Hoshmand Ali Hama Agha
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Excess skin, often consequential to substantial weight loss or the aging process, introduces physical discomfort, obstructs daily activities, and undermines an individual's self-esteem. As these challenges become increasingly prevalent, the need to explore viable solutions grows in significance. Extra skin removal surgery, colloquially known as body contouring surgery, has emerged as a compelling intervention to ameliorate the physical and psychological burdens of excess skin. This study undertakes a comprehensive review to illuminate the intricacies of extra skin removal surgery, encompassing its diverse procedures, associated risks, benefits, and psychological implications on patients. The methodological approach adopted involves a systematic and exhaustive review of pertinent scholarly literature sourced from reputable databases, including PubMed, Google Scholar, and specialized cosmetic surgery journals. Articles are meticulously curated based on their relevance, credibility, and recency. Subsequently, data from these sources are synthesized and categorized, facilitating a comprehensive understanding of the subject matter. Qualitative analysis serves to unravel the nuanced psychological effects, while quantitative data, where available, are harnessed to underpin the study's conclusions. In terms of major findings, the research underscores the manifold advantages of extra skin removal surgery. Patients experience a notable improvement in physical comfort, amplified mobility, enhanced self-confidence, and a newfound ability to don clothing comfortably. Nonetheless, the benefits are juxtaposed with potential risks, encompassing infection, scarring, hematoma, delayed healing, and the challenge of achieving symmetry. A salient discovery is the profound psychological impact of the surgery, as patients consistently report elevated body image satisfaction, heightened self-esteem, and a substantial enhancement in overall quality of life. In summation, this research accentuates the pivotal role of extra skin removal surgery in ameliorating the intricate interplay of physical and psychological difficulties posed by excess skin. By elucidating the diverse procedures, associated risks, and psychological outcomes, the study contributes to a comprehensive and informed comprehension of the surgery's multifaceted effects. Therefore, individuals contemplating this transformative surgical option are equipped with comprehensive insights, ultimately fostering informed decision-making, guided by the expertise of medical professionals.Keywords: extra skin removal surgery, body contouring, abdominoplasty, brachioplasty, thigh lift, body lift, benefits, risks, psychological effects
Procedia PDF Downloads 671759 Performance of Shariah-Based Investment: Evidence from Pakistani Listed Firms
Authors: Mohsin Sadaqat, Hilal Anwar Butt
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Following the stock selection guidelines provided by the Sharia Board (SB), we segregate the firms listed at Pakistan Stock Exchange (PSX) into Sharia Compliant (SC) and Non-Sharia Compliant (NSC) stocks. Subsequently, we form portfolios within each group based on market capitalization and volatility. The purpose is to analyze and compare the performance of these two groups as the SC stocks have lesser diversification opportunities due to SB restrictions. Using data ranging from January 2004 until June 2016, our results indicate that in most of the cases the risk-adjusted returns (alphas) for the returns differential between SC and NCS firms are positive. In addition, the SC firms in comparison to their counterparts in PSX provides excess returns that are hedged against the market, size, and value-based systematic risks factors. Overall, these results reconcile with one prevailing notion that the SC stocks that have lower financial leverage and higher investment in real assets are lesser exposed to market-based risks. Further, the SC firms that are more capitalized and less volatile, perform better than lower capitalized and higher volatile SC and NSC firms. To sum up our results, we do not find any substantial evidence for opportunity loss due to limited diversification opportunities in case of SC firms. To optimally utilize scarce resources, investors should consider SC firms as a candidate in portfolio construction.Keywords: diversification, performance, sharia compliant stocks, risk adjusted returns
Procedia PDF Downloads 199