Search results for: climate risk

Authors: Neelam Kadyan, Pratima Ranga, Yogender

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Indigenous people are the One who are affected by the climate change the most, although there have contributed little to its causes. This is largely a result of their historic dependence on local biological diversity, ecosystem services and cultural landscapes as a source of their sustenance and well-being. Comprising only four percent of the world’s population they utilize 22 percent of the world’s land surface. Despite their high exposure-sensitivity indigenous peoples and local communities are actively responding to changing climatic conditions and have demonstrated their resourcefulness and resilience in the face of climate change. Traditional Indigenous territories encompass up to 22 percent of the world’s land surface and they coincide with areas that hold 80 percent of the planet’s biodiversity. Also, the greatest diversity of indigenous groups coincides with the world’s largest tropical forest wilderness areas in the Americas (including Amazon), Africa, and Asia, and 11 percent of world forest lands are legally owned by Indigenous Peoples and communities. This convergence of biodiversity-significant areas and indigenous territories presents an enormous opportunity to expand efforts to conserve biodiversity beyond parks, which tend to benefit from most of the funding for biodiversity conservation. Tapping on Ancestral Knowledge Indigenous Peoples are carriers of ancestral knowledge and wisdom about this biodiversity. Their effective participation in biodiversity conservation programs as experts in protecting and managing biodiversity and natural resources would result in more comprehensive and cost effective conservation and management of biodiversity worldwide. Addressing the Climate Change Agenda Indigenous Peoples has played a key role in climate change mitigation and adaptation. The territories of indigenous groups who have been given the rights to their lands have been better conserved than the adjacent lands (i.e., Brazil, Colombia, Nicaragua, etc.). Preserving large extensions of forests would not only support the climate change objectives, but it would respect the rights of Indigenous Peoples and conserve biodiversity as well. A climate change agenda fully involving Indigenous Peoples has many more benefits than if only government and/or the private sector are involved. Indigenous peoples are some of the most vulnerable groups to the negative effects of climate change. Also, they are a source of knowledge to the many solutions that will be needed to avoid or ameliorate those effects. For example, ancestral territories often provide excellent examples of a landscape design that can resist the negatives effects of climate change. Over the millennia, Indigenous Peoples have developed adaptation models to climate change. They have also developed genetic varieties of medicinal and useful plants and animal breeds with a wider natural range of resistance to climatic and ecological variability.

Keywords: ancestral knowledge, cost effective conservation, management, indigenous peoples, climate change

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Authors: Qisheng Hu, Jianglei Han, Yue Yang, My Hoa Ha

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When a company is considering purchasing software for commercial use, contract risk assessment is critical to identify risks to mitigate the potential adverse business impact, e.g., security, financial and regulatory risks. Contract risk assessment requires reviewers with specialized knowledge and time to evaluate the legal documents manually. Specifically, validating contracts for a software vendor requires the following steps: manual screening, interpreting legal documents, and extracting risk-prone segments. To automate the process, we proposed a framework to assist legal contract document risk identification, leveraging pre-trained deep learning models and natural language processing techniques. Given a set of pre-defined risk evaluation problems, our framework utilizes the pre-trained transformer-based models for question-answering to identify risk-prone sections in a contract. Furthermore, the question-answering model encodes the concatenated question-contract text and predicts the start and end position for clause extraction. Due to the limited labelled dataset for training, we leveraged transfer learning by fine-tuning the models with the CUAD dataset to enhance the model. On a dataset comprising 287 contract documents and 2000 labelled samples, our best model achieved an F1 score of 0.687.

Keywords: contract risk assessment, NLP, transfer learning, question answering

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Authors: Megha Raj Regmi

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Nepalese topography has the largest variations in altitude in the world, ranging from 60 metre to 8848 metre above the mean sea level, Nepal is endowed with second position in water resources in the world, and is comprised of more than 6,000 rivers and rivulets, however, it faces serious water crunch and water pollution : deterioration of ecosystem. Due to climate change reasons, in all the places of Nepal ground water table has been substantially depleted and with its impact many people are suffering seriously to fetch water for daily use. This research work basically deals with twenty-two biogas toilets constructed in peri-urban areas of Nepal in two research centres for organic agriculture. The work has used appropriate technology and studied their performances in the context of Nepal, based on the regular monitoring. The work found that the biogas energy producing toilet have a clear advantage in the gas recovery for domestic purpose and a sustainable mitigation measure for climate change and organic farming. This paper describes the climate change issues of Nepal; similarly it deals with the potential threats of climate change to water supply, agriculture, food security, temperature increase, and adaptation measures. This paper also deals in depth analysis of the different types of successful biogas energy production technology, organic farming, sustainable sanitation and health aspects from the twenty two biogas energy units constructed in different altitudes of Nepal.

Keywords: environmental protection, biomass energy, climate change, organic farming

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Authors: Manoel Pereira, Alvaro Veiga, Camila Epprecht, Renato Costa

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This paper introduces an empirical version of the Esscher transform for risk-neutral option pricing. Traditional parametric methods require the formulation of an explicit risk-neutral model and are operational only for a few probability distributions for the returns of the underlying. In our proposal, we make only mild assumptions on the pricing kernel and there is no need for the formulation of the risk-neutral model for the returns. First, we simulate sample paths for the returns under the physical distribution. Then, based on the empirical Esscher transform, the sample is reweighted, giving rise to a risk-neutralized sample from which derivative prices can be obtained by a weighted sum of the options pay-offs in each path. We compare our proposal with some traditional parametric pricing methods in four experiments with artificial and real data.

Keywords: esscher transform, generalized autoregressive Conditional Heteroscedastic (GARCH), nonparametric option pricing

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Authors: Hannes Koester

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Driven by difficult market conditions and increasing regulations, many banks are making the strategic decision to restructure their portfolio by divesting several business segments. Using a unique dataset of 727 portfolio restructuring announcements by 161 international listed banks over the period 1999 to 2015, we investigate the impact of restructuring measurements on the stock performance as well as on the banks’ profitability and risk. Employing the event study methodology, we detect positive stock market reactions on the announcement of restructuring measurements. These positive stock market reactions indicate that shareholders reward banks’ specialization activities. However, the results of the system GMM regressions show a negative relation between restructuring measurements and banks’ return on assets and a positive relation towards the individual and systemic risk of banks. These empirical results indicate that there is no guarantee that portfolio restructurings will result in a more profitable and less risky institution.

Keywords: bank performance, bank risk, divestiture, restructuring, systemic risk

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Authors: Meghry Nazarian, Ibrahim Duyar

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Effective management of a diverse workforce in the United Arab Emirates (UAE) presents peculiar importance as two-thirds of residents are expatriates who have diverse ethnic and cultural backgrounds. Like any other organization in the country, UAE schools have become upmost diverse settings in the world. The purpose of this study was to examine whether principals’ cultural intelligence has direct and indirect (moderating) influences on teachers’ perceived diversity climate. A quantitative causal-comparative research design was employed to analyze the data. Participants included random samples of principals and teachers working in the private and charter schools in the Emirate of Abu Dhabi. The data-gathering online questionnaires included previously developed and validated scales as the measures of study variables. More specifically, the multidimensional short-form measure of Cultural Intelligence (CQ) and the diversity climate scale were used to measure the study variables. Multivariate statistics, including the analysis of multivariate analysis of variance (MANCOVA) and structural equation modeling (SEM), were employed to examine the relationships between the study variables. The preliminary analyses of data showed that principals and teachers have differing views of diversity management and climate in schools. Findings also showed that principals’ cultural intelligence has both direct and moderating influences on teachers’ perceived diversity climate. The study findings are expected to inform policymakers and practicing educational leaders in addressing diversity management in a country where the majority of the residents are the minority who have diverse ethnic and cultural backgrounds.

Keywords: diversity management, united arab emirates, school principals’ cultural intelligence (CQ), teachers’ perceived diversity climate

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Authors: Shaya Alshahrani

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Perceived risks play a major role in consumer intentions, behaviors, attitudes, and decisions about online shopping in the KSA. This paper investigates the influence of six perceived risk dimensions on Saudi consumers: product risk, information risk, financial risk, privacy and security risk, delivery risk, and terms and conditions risk empirically. To ensure the success of this study, a random survey was distributed to reflect the consumers’ perceived risk and to enable the generalization of the results. Data were collected from 323 respondents in the Kingdom of Saudi Arabia (KSA): 50 who had never shopped online and 273 who had done so. The results indicated that all six risks influenced the respondents’ perceptions of online shopping. The non-online shoppers perceived financial and delivery risks as the most significant barriers to online shopping. This was followed closely by performance, information, and privacy and security risks. Terms and conditions were perceived as less significant. The online consumers considered delivery and performance risks to be the most significant influences on internet shopping. This was followed closely by information and terms and conditions. Financial and privacy and security risks were perceived as less significant. This paper argues that introducing adequate legal solutions to addressing related problems arising from this study is an urgent need. This may enhance consumer trust in the KSA online market, increase consumers’ intentions regarding online shopping, and improve consumer protection.

Keywords: perceived risk, online contracts, Saudi Arabia, consumer protection

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Authors: Isabela Moreira Queiroz

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Slope stability analyses are largely carried out by deterministic methods and evaluated through a single security factor. Although it is known that the geotechnical parameters can present great dispersal, such analyses are considered fixed and known. The probabilistic methods, in turn, incorporate the variability of input key parameters (random variables), resulting in a range of values of safety factors, thus enabling the determination of the probability of failure, which is an essential parameter in the calculation of the risk (probability multiplied by the consequence of the event). Among the probabilistic methods, there are three frequently used methods in geotechnical society: FOSM (First-Order, Second-Moment), Rosenblueth (Point Estimates) and Monte Carlo. This paper presents a comparison between the results from deterministic and probabilistic analyses (FOSM method, Monte Carlo and Rosenblueth) applied to a hypothetical slope. The end was held to evaluate the behavior of the slope and consequent risk analysis, which is used to calculate the risk and analyze their mitigation and control solutions. It can be observed that the results obtained by the three probabilistic methods were quite close. It should be noticed that the calculation of the risk makes it possible to list the priority to the implementation of mitigation measures. Therefore, it is recommended to do a good assessment of the geological-geotechnical model incorporating the uncertainty in viability, design, construction, operation and closure by means of risk management. 

Keywords: probabilistic methods, risk assessment, risk management, slope stability

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Authors: Lagnajeet Mohanty, Mohnish Mishra, Pratham Tapdiya, Himanshu Sekhar Nayak, Swetapadma Singh

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In the era of global interconnectedness, effective risk assessment and management are critical for organizational resilience. This review explores the integration of machine learning (ML) into risk processes, examining its transformative potential and the challenges it presents. The literature reveals ML's success in sectors like consumer credit, demonstrating enhanced predictive accuracy, adaptability, and potential cost savings. However, ethical considerations, interpretability issues, and the demand for skilled practitioners pose limitations. Looking forward, the study identifies future research scopes, including refining ethical frameworks, advancing interpretability techniques, and fostering interdisciplinary collaborations. The synthesis of limitations and future directions highlights the dynamic landscape of ML in risk management, urging stakeholders to navigate challenges innovatively. This abstract encapsulates the evolving discourse on ML's role in shaping proactive and effective risk management strategies in our interconnected and unpredictable global landscape.

Keywords: machine learning, risk assessment, ethical considerations, financial inclusion

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Authors: Jerome Osentowski

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The objective at Central Rocky Mountain Permaculture Institute has been to put in practice a sustainable way of life while growing food, medicine, and providing education. This has been done by applying methods of farming such as agroforestry, forest farming, and perennial polycultures. These methods have been found to be regenerative to the environment through carbon sequestration, soil-building, climate change mitigation, and the provision of food security. After 30 years of implementing carbon farming methods, the results are agro-diversity, self-sustaining systems, and a consistent provision of food and medicine. These results are exhibited through polyculture plantings in an outdoor forest garden spanning roughly an acre containing about 200 varieties of fruits, nuts, nitrogen-fixing trees, and medicinal herbs, and two indoor forest garden greenhouses (one Mediterranean and one Tropical) containing about 50 varieties of tropical fruits, beans, herbaceous plants and more. While the climate zone outside the greenhouse is 6, the tropical forest garden greenhouse retains an indoor climate zone of 11 with near-net-zero energy consumption through the use of a climate battery, allowing the greenhouse to serve as a year-round food producer. The effort to source food from the forest gardens is minimal compared to annual crop production. The findings at Central Rocky Mountain Permaculture Institute conclude that agroecological methods are not only beneficial but necessary in order to revive and regenerate the environment and food security.

Keywords: agroecology, agroforestry, carbon farming, carbon sequestration, climate battery, food security, forest farming, forest garden, greenhouse, near-net-zero, perennial polycultures

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Authors: Taner Ersoz, Filiz Ersoz, Seyma Ozbilge

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In this study, the clients who applied to a bank branch for loan were analyzed through data mining. The study was composed of the information such as amounts of loans received by personal and SME clients working with the bank branch, installment numbers, number of delays in loan installments, payments available in other banks and number of banks to which they are in debt between 2010 and 2013. The client risk profile was examined through Classification and Regression Tree (CART) analysis, one of the decision tree classification methods. At the end of the study, 5 different types of customers have been determined on the decision tree. The classification of these types of customers has been created with the rating of those posing a risk for the bank branch and the customers have been classified according to the risk ratings.

Keywords: client classification, loan suitability, risk rating, CART analysis

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Authors: Md. Rezaul Karim, Andreas Thiel

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Bangladesh is known as one of the most climate vulnerable countries in the world. Innovative technologies are always the key responses to the management of climate impacts. The objectives of this study are to determine the farmer’s perception of climate variability, to compare farmers’ perceptions with metrological data, and to explore the determinants that affect the likelihood of adoption of the selected Climate Smart Agricultural (CSA) technologies. Data regarding climate change perception, determinants and adoption were collected based on the household survey from stratified and randomly selected 365 farmers of the Biral sub-district under Dinajpur district in drought-prone northern Bangladesh. The likelihood of adoption of CSA technologies was analyzed following a multivariate probit model. The findings show that about 82.5% of the farmers perceived increasing temperature, and 75.1 % of farmers perceived decreasing dry season rainfall over the years, which is similarly relevant to metrological data. About 76.4.7% and 80.85% of farmers were aware of the drought tolerance crops and vermicompost, respectively; more than half of the farmers adopted these practices. Around 70.7% of farmers were aware of perching for insect control, but 46.3% of farmers adopted this practice. Although two-thirds of farmers were aware of crop diversification and pheromone trap, adoption was lower compared to the other three CSAs. Results also indicate that the likelihood of adoption of the selected CSAs is significantly influenced by different factors such as socio-economic characteristics, institutional factors and perceived technological or innovation attributes. The likelihood of adopting drought tolerance crops is affected by 11, while crop diversification and perching method by 7, pheromone trap by 9 and vermicompost by 8 determining factors. Lack of information and unavailability of input appear to be major obstacles to the non-adoption of CSA technologies. This study suggests that policy implications are necessary to promote extension services and overcome the obstacles to the non-adoption of individual CSA technologies. It further recommends that the research study should be conducted in a diverse context, nationally or globally.

Keywords: determinants, adoption, climate smart agriculture, northern Bangladesh

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Authors: Nuruddeen Usman, Usman Mohammed Gidado, Muhammad Ahmad Ibrahim

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Construction industry is one of the sectors that are eyeing adoption of ICT for its development due to the advancement in technology. Though, many manufacturing sectors had been using it, but construction industry was left behind, especially in the developing nation like Nigeria. On account of that, the objective of this study is to conceptually and quantitatively synthesise whether the slow adoption of ICT by the construction industries can be attributable to cybercrime threats. The result of the investigation found that, the risk of cybercrime, and lack of adequate cyber security policies that can enforce and punish defaulters are among the things that hinder ICT adoption of the Nigerian construction industries. Therefore, there is need for the nations to educate their citizens on cybercrime risk, and to establish cybercrime police units that can be monitoring and controlling all online communications.

Keywords: construction industry, cybercrime, information and communication technology adoption, risk

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Authors: Anders Troedsson

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For us humans, risk and insecurity are intimately linked to vulnerabilities - where there is vulnerability, there is potentially risk and insecurity. Reducing vulnerability through compensatory measures means decreasing the likelihood of a certain external event be qualified as a risk/threat/assault, and thus also means increasing the individual’s sense of security. The paper suggests that a meaningful way to approach the study of risk/ insecurity is to organize thinking about the vulnerabilities that external phenomena evoke in humans as perceived by them. Such phenomena are, through a set of given vulnerabilities, potentially translated into perceptions of "insecurity." An ontological discussion about salient timespace characteristics of external phenomena as perceived by humans, including such which potentially can be qualified as risk/threat/assault, leads to the positing of two dimensions which are central for describing what in the paper is called the essence of risk/threat/assault. As is argued, such modeling helps analysis steer free of the subjective factor which is intimately connected to human perception and which mediates between phenomena “out there” potentially identified as risk/threat/assault, and their translation into an experience of security or insecurity. A proposed set of universally given vulnerabilities are scrutinized with the help of the two dimensions, resulting in a modeling effort featuring four realms of vulnerabilities which together represent a dynamic whole. This model in turn informs modeling on human security.

Keywords: human vulnerabilities, human security, immediate-inert, material-immaterial, timespace

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Authors: Hasibul Kabir, Samin Shahriar Tokey, Md. Tofazzal Hossain

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One of the most necessary things in the present time is raising social awareness about global warming and climate change among the people. Though many types of mediums and techniques have been used to teach people about this global phenomenon, there are still more effective ways to reach people with useful information about global warming. As many traditional methods to teach people about global warming and climate change did not work well, video games were overdue. To learn how effective a video game can be in this regard, we developed a Video game, "Historia's Nightmare," that teaches people about Global warming and climate change. The game was designed to entertain people and give them an idea about the reasons and consequences of global warming and climate change while not being like traditional educational games. The game threw a mini quiz consisting of two MCQs based on the information shown in the game, where a gamer had to pass the quiz to reach the next level. We published the game on different platforms to let all types of people play and complete our experiment effectively. The game continuously communicated with our server to send data about gamers' performance. We observed the data, including the participants' performance, time spent, quiz score, and the in-game feedback on a regular basis, and finally came to a verdict. In our experiment, we have found that most participants positively accepted the game and learned something new. The participants who spent more on our game performed better in both quiz and the game. Our experiment's result demonstrates that video games can be a great way to teach people something, particularly to raise social awareness about global warming and climate change. It also demonstrates that the game can be a significant element in education and learning improvement.

Keywords: video game, global warming, social awareness, climate change, education, feedback

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Authors: Lejla Sunagic

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The aim of the manuscript is to further the understanding of risky decision-making in the context of forced and irregular migration. The empirical evidence is collected through interviews with Syrian refugees who arrived in Europe via irregular pathways. Analytically, it has been approached through the juxtaposition between risk perception and the notion of desire. As different frameworks have been developed to address differences in risk perception, the common thread was the understanding that individual risk-taking has been addressed in terms of benefits outweighing risks. However, this framework cannot explain a big risk an individual takes because of an underprivileged position and due to a lack of positive alternatives, termed as risk-taking from vulnerability. The accounts of the field members of this study that crossed the sea in rubber boats to arrive in Europe make an empirical fit to such a postulate by reporting that the risk they have taken was not the choice but the only coping strategy. However, the vulnerability argument falls short of explaining why the interviewees, thinking retrospectively, find the risky journey they have taken to be worth it, while they would strongly advise others to restrain from taking such a huge risk. This inconsistency has been addressed by adding the notion of desire to migrate to the elements of risk perception. Desire, as a subjective experience, was what made the risk appear smaller in cost-benefit analysis at the time of decision-making of those who have realized migration. However, when they reflect on others in the context of potential migration via the same pathway, the interviewees addressed the others’ lack of capacity to avoid the same obstacles that they themselves were able to circumvent while omitting to reflect on others’ desire to migrate. Thus, in the risk-benefit analysis performed for others, the risk remains unblurred and tips over the benefits, given the inability to take into account the desire of others. If desire, as the transformative potential of migration, is taken out of the cost-benefit analysis of irregular migration, refugees might not have taken the risky journey. By casting the theoretical argument in the language of configuration, the study is filling in the gap of knowledge on the combination of migration drivers and the way they interact and produce migration outcomes.

Keywords: refugees, risk perception, desire, irregular migration

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Authors: Angeliki Chronopoulou, Eleni Alexandrou

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This paper thoroughly investigates residential buildings of the period 1920 – 1960 in Athens and evaluates their bioclimatic response and energy performance. A methodology adapted to the specific context of the city is proposed and applied in order to assess and extract results related to the climate analysis of the city of Athens, the general/architectural design and construction characteristics of the apartment buildings constructed during the period 1920 – 1960, the bioclimatic strategies applied on them, and the achieved thermal comfort based on questionnaires answered by their users. The results of the current study indicate that the residential architecture of that period in the city of Athens is adapted to an extend to the local climate with various climate responsive strategies. As an outcome of the analysis, the most frequently applied depending on the period of construction are presented. For this reason, the examined period is divided into 3 sub – periods: 1st period 1920s – 1930s (late neoclassicism & eclecticism), 2nd period 1930s – 1940s (modernism), 3rd period 1940s – 1960s (postwar modernism).

Keywords: Athens, climatic design strategies, residential buildings, middle war and post war architecture, thermal comfort

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Authors: Emmanuel Olugbenga Fakoya

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The study examined the perceived impact of climate change on the livelihood of arable crop farmers in Ipokia Local Government Area of Ogun State, Nigeria. Multistage sampling technique was used to select 80 arable crop farmers in the study area. Data collected were analyzed using percentages, frequencies and Chi square analysis. The result showed that 63.8 percent of the respondents were male while 55.0 percent were married. Less than half (30.0 percent) of the respondents were between the age bracket of 41-50 years and 50.0 percent had 6-10 household size. Furthermore, majority (40.0 percent) of the arable crop farmers farmed on an inherited land and 51.3 percent had 2-3 hectares of land. Majority (38.8 percent) of the farmers intercrop maize with cassava and maize with yam. Various strategies adapted to reduce the effect of climate change on their crop and livelihood include: crop rotation (53.8 percent), planting of leguminous crop (35.0 percent), application of organic fertilizers (45.0 percent), mulching (56.3 percent) and by planting drought resistance crops (46.5 percent). Reported among the effects of climate change on crop and farmers’ livelihood were: discoloration of crop leave (63.8 percent), increase infestation of pests and diseases (58.8 percent) and reduction of crop yield (60.0 percent). Chi- square analysis showed significant relationship between impact of climate change on arable crop production and thus famers’ livelihood. It was concluded from the study that climate change is an impinging factor that seriously affect arable crop production and hence farmers’ livelihood despite coping strategies to minimize its effect. It was however recommended that Agricultural policies and practices that could minimize or eliminate its effect should be seriously enacted to boost production and increase farmers’ livelihood.

Keywords: agricultural extension, extension agent, private sector, perception

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Authors: Narumon Piaseu

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This survey research was aimed to describe and compare consumption behavior of health risk food among students in Suan Sunandha Rajabhat University. Sample included 400 undergraduate students enrolled in the first semester of 2008 academic year. Data were collected by using self reported questionnaire developed by the researcher. Data were then analyzed by descriptive statistics including frequency, percentage, mean, standard deviation, and inferential statistics including independent t-test, and Oneway ANOVA. Results revealed that most of the sample were women (67%), enrolled in social related programs (74%). Approximately half of them (45.5%) stayed in dormitory. The mean of monthly income was 5,164 Baht and daily food expenditure was 114.55 Baht. Majority of them (83%) had ready-to-eat food. A major factor influencing their food selection was their parents (61%). A main reason for their food selection was food that looks good (70.75%). Almost half of them (46.25%) had heavy exercise less than 3 times per week. Regarding knowledge on health risk food, 43.5% of the sample had good knowledge. The followings were moderate (41%) and poor (41%). Most of the sample (60.75%) had consumption behavior at low risk. The following was at moderate risk (37.25%). Only 2% were at high risk. Among the sample, consumption behavior of health risk food were significantly different in years of study (F = 3.168, p = .024), daily food expenditure (F = 8.950, p <.001), and knowledge on health risk food (F = 37.856, p <.001), while no significant difference in consumption behavior of health risk food was found in those with a difference in gender, program of study, living place, and monthly income. Results indicate the importance of providing knowledge regarding health risk food for students and their parents in order to promote appropriate food consumption behavior among the students.

Keywords: food consumption, risky behavior, Suan Sunandha Rajabhat University, health risk

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Authors: Mojtaba Rezaei, Elham Heydari

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This paper highlights the empirical results of analyzing the correlation between accounting information and systematic risk. This association is analyzed among financial ratios and systematic risk by considering the financial statement of 39 companies listed on the Tehran Stock Exchange (TSE) for five years (2014-2018). Financial ratios have been categorized into four groups and to describe the special features, as representative of accounting information we selected: Return on Asset (ROA), Debt Ratio (Total Debt to Total Asset), Current Ratio (current assets to current debt), Asset Turnover (Net sales to Total assets), and Total Assets. The hypotheses were tested through simple and multiple linear regression and T-student test. The findings illustrate that there is no significant relationship between accounting information and market risk. This indicates that in the selected sample, historical accounting information does not fully reflect the price of stocks.

Keywords: accounting information, market risk, systematic risk, stock return, efficient market hypothesis, EMH, Tehran stock exchange, TSE

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Authors: Kristin Drexler

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Climate change has exacerbated food and livelihood insecurity for Mayan milpa farmers in Central America. For centuries, milpa farming has been sustainable for subsistence; however, in the last 50 years, milpas have become less reliable due to accelerating climate change, resource degradation, declining markets, poverty, and other factors. Using interviews with extension leaders and milpa farmers in Belize, this qualitative study examines the capacity for increasing climate-smart agriculture (CSA) aspects of existing traditional milpa practices, specifically no-burn mulching, soil enrichment, and the use of cover plants. Applying community capitals and socio-ecological systems frameworks, this study finds four key capitals were perceived by farmers and agriculture extension leaders as barriers for increasing CSA practices: (1) human-capacity, (2) financial, (3) infrastructure, and (4) governance-justice capitals. The key barriers include a lack of CSA technology and pest management knowledge-sharing (human-capacity), unreliable roads and utility services (infrastructure), the closure of small markets and crop-buying programs in Belize (financial), and constraints on extension services and exacerbating a sense of marginalization in Maya communities (governance-justice). Recommendations are presented for government action to reduce barriers and facilitate an increase in milpa crop productivity, promote food and livelihood security, and enable climate resilience of Mayan milpa communities in Belize.

Keywords: socio-ecological systems, community capitals, climate-smart agriculture, food security, milpa, Belize

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Authors: Mathias Linden, André Schneider, Harald F. O. von Korflesch

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The risk of train accidents is an ongoing concern for railway organizations, governments, insurance companies and other depended sectors. Safety technologies are installed to reduce and to prevent potential damages of train accidents. Since the budgetary for the safety of railway organizations is limited, it is necessary not only to achieve a high availability and high safety standard but also to be cost effective. Therefore, an economic assessment of safety technologies is fundamental to create an accurate risk analysis. In order to conduct an economical assessment of a railway safety technology and a quantification of the costs of the accident causes, the Global Railway Accident Database & Evaluation (GRADE) has been developed. The aim of this paper is to describe the structure of this accident database and to show how it can be used for risk analyses. A number of risk analysis methods, such as the probabilistic safety assessment method (PSA), was used to demonstrate this accident database’s different possibilities of risk analysis. In conclusion, it can be noted that these analyses would not be as accurate without GRADE. The information gathered in the accident database was not available in this way before. Our findings are relevant for railway operators, safety technology suppliers, assurances, governments and other concerned railway organizations.

Keywords: accident causes, accident costs, accident database, global railway accident database & evaluation, GRADE, probabilistic safety assessment, PSA, railway accidents, risk analysis

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Authors: Cuong V Nguyen, Ralph Horne, John Fien, France Cheong

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Social vulnerability to climate change is increasingly being acknowledged, and proposals to measure and manage it are emerging. Building upon this work, this paper proposes an approach to social vulnerability assessment using a new mechanism to aggregate and account for causal relationships among components of a Social Vulnerability Index (SVI). To operationalize this index, the authors propose a means to develop an appropriate primary dataset, through application of a specifically-designed household survey questionnaire. The data collection and analysis, including calibration and calculation of the SVI is demonstrated through application in case study city in central coastal Vietnam. The calculation of SVI at the fine-grained local neighbourhood scale provides high resolution in vulnerability assessment, and also obviates the need for secondary data, which may be unavailable or problematic, particularly at the local scale in developing countries. The SVI household survey is underpinned by the results of a Delphi survey, an in-depth interview and focus group discussions with local environmental professionals and community members. The research reveals inherent limitations of existing SVIs but also indicates the potential for their use in assessing social vulnerability and making decisions associated with responding to climate change at the local scale.

Keywords: climate change, local scale, social vulnerability, social vulnerability index

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Authors: Chatelier Charlene, Oyegoke Adekunle, Ajayi Saheed, Jeffries Andrew

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This study seeks to understand Schedule Risk Assessments as a priori for better performance whilst exploring the strategies employed to deliver complex projects like the New Polar research ship. This high-profile vessel was offered to Natural Environment Research Council and British Antarctic Survey (BAS) by Cammell Laird Shipbuilders. The Research Ship was designed to support science in extreme environments, with the expectancy to provide a wide range of specialist scientific facilities, instruments, and laboratories to conduct research over multiple disciplines. Aim: The focus is to understand the allocation and management of schedule risk on such a Major Project. Hypothesising that "effective management of schedule risk management" could be the most critical factor in determining whether the intended benefits mentioned are delivered within time and cost constraints. Objective 1: Firstly, the study seeks to understand the allocation and management of schedule risk in Major Projects. Objective 2: Secondly, it explores "effective management of schedule risk management" as the most critical factor determining the delivery of intended benefits. Methodology: This study takes a retrospective review of schedule risk management and how it influences project performance using a case study approach for the RRS (Royal Research Ship) Sir David Attenborough. Research Contribution: The outcomes of this study will contribute to a better understanding of project performance whilst building on its under-researched relationship to schedule risk management for complex projects. The outcomes of this paper will guide further research on project performance and enable the understanding of how risk-based estimates over time impact the overall risk management of the project.

Keywords: complexity, major projects, performance management, schedule risk management, uncertainty

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Authors: Safia Hocine, Djamil Aïssani

Abstract:

Risk models, recently studied in the literature, are becoming increasingly complex. It is rare to find explicit analytical relations to calculate the ruin probability. Indeed, the stability issue occurs naturally in ruin theory, when parameters in risk cannot be estimated than with uncertainty. However, in most cases, there are no explicit formulas for the ruin probability. Hence, the interest to obtain explicit stability bounds for these probabilities in different risk models. In this paper, we interest to the stability bounds of the univariate classical risk model established using the regenerative processes approach. By adopting an algorithmic approach, we implement this approximation and determine numerically the bounds of ruin probability in the case of large claims (heavy-tailed distribution).

Keywords: heavy-tailed distribution, large claims, regenerative process, risk model, ruin probability, stability

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Authors: Mohamed El-Bady

Abstract:

The Northern Egyptian Lagoons are (from east to west) Bardawil Lagoon, Manzala Lagoon, Burullus Lagoon, Edku Lagoons and Mariute Lagoon. These lagoons have been received the bulk of drainage water from the lands of Delta and from the other coastal areas. Where, the heavy metals can occur in Lagoons environments through a variety of sources, including industries, wastewaters and domestic effluents. The potential ecological risk index (RI) calculation of the bottom sediments of the northern lagoons depends on contamination factor (CF), potential ecological risk factor and proposed toxic response factor (Tr). Each lagoon with special indices according to its conditions.

Keywords: Northern Lagoons, Nile Delta, ecological risk index, contamination factor

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Authors: Betty Johanna Garzon Rozo, Jonathan Crook, Fernando Moreira

Abstract:

Operational risk losses are heavy tailed and are likely to be asymmetric and extremely dependent among business lines/event types. We propose a new methodology to assess, in a multivariate way, the asymmetry and extreme dependence between severity distributions, and to calculate the capital for Operational Risk. This methodology simultaneously uses (i) several parametric distributions and an alternative mix distribution (the Lognormal for the body of losses and the Generalized Pareto Distribution for the tail) via extreme value theory using SAS®, (ii) the multivariate skew t-copula applied for the first time for operational losses and (iii) Bayesian theory to estimate new n-dimensional skew t-copula models via Markov chain Monte Carlo (MCMC) simulation. This paper analyses a newly operational loss data set, SAS Global Operational Risk Data [SAS OpRisk], to model operational risk at international financial institutions. All the severity models are constructed in SAS® 9.2. We implement the procedure PROC SEVERITY and PROC NLMIXED. This paper focuses in describing this implementation.

Keywords: operational risk, loss distribution approach, extreme value theory, copulas

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Authors: Ali Cheshmehzangi, Ayotunde Dawodu

Abstract:

In urban planning, Floor Area Ratio (FAR) of the site plays a major role in the multiplicity of performances, from humane living environments to energy performance. When one considers the astounding volume of new housing that is going to be constructed across the globe during the next few decades due to growing urbanisation (e.g. particularly in developing world), it is imperative that we have an empirically grounded grasp of which building configurations are more energy efficient. As a common planning metric, it would be helpful to know exactly how managing FAR connects with energy efficiency. Hence, this study puts together a set of modelling of various FARs for a typical residential compound and address the considerations of energy planning integration in the practice of building configuration and urban planning. Such decision makings at the planning and design stage enable us to provide pathways of optimising urban climate at mesoscale of the built environment, i.e. the neighbourhood or community level. In this study, a comparative study is conducted using Eco-Tect Software, using a case study in the City of Ningbo, China. Findings of the study contribute to identifying scenarios of various FAR use and energy planning at mesoscale. The final results contribute to studies in urban climate, from the perspectives of urban planning, energy planning, and urban modelling.

Keywords: China, energy planning, FAR, floor-area-ratio, mesoscale, urban climate, urban modelling

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Authors: Mohamed Saad Ahmed Hussien

Abstract:

This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management

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Authors: Eva Kirzner

Abstract:

Based on outcome studies published over the past two decades, in 2018, the ACC/AHA published new guidelines for the management of hypercholesterolemia that incorporate the use of coronary artery calcium (CAC) scanning as a decision tool for ascertaining which patients may benefit from statin therapy. This use is based on the recognition that the absence of calcium on CAC scanning (i.e., a CAC score of zero) usually signifies the absence of significant atherosclerotic deposits in the coronary arteries. Specifically, in patients with a high risk for atherosclerotic cardiovascular disease (ASCVD), initiation of statin therapy is generally recommended to decrease ASCVD risk. However, among patients with intermediate ASCVD risk, the need for statin therapy is less certain. However, there is a need for new outcome studies that provide evidence that the management of hypercholesterolemia based on these new ACC/AHA recommendations is safe for patients. Based on a Pub-Med and Google Scholar literature search, four relevant population-based or patient-based cohort studies that studied the relationship between CAC scanning, risk assessment or mortality, and statin therapy that were published between 2017 and 2021 were identified (see references). In each of these studies, patients were assessed for their baseline risk for atherosclerotic cardiovascular disease (ASCVD) using the Pooled Cohorts Equation (PCE), an ACC/AHA calculator for determining patient risk based on assessment of patient age, gender, ethnicity, and coronary artery disease risk factors. The combined findings of these four studies provided concordant evidence that a zero CAC score defines patients who remain at low clinical risk despite the non-use of statin therapy. Thus, these new studies confirm the use of CAC scanning as a safe tool for reducing the potential overuse of statin therapy among patients with zero CAC scores. Incorporating these new data suggest the following best practice: (1) ascertain ASCVD risk according to the PCE in all patients; (2) following an initial attempt trial to lower ASCVD risk with optimal diet among patients with elevated ASCVD risk, initiate statin therapy for patients who have a high ASCVD risk score; (3) if the ASCVD score is intermediate, refer patients for CAC scanning; and (4) and if the CAC score is zero among the intermediate risk ASCVD patients, statin therapy can be safely withheld despite the presence of an elevated serum cholesterol level.

Keywords: cholesterol, cardiovascular disease, statin therapy, coronary calcium

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