Search results for: disclosure of risk financial

Authors: Leo Byrne, Neil Watts

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In the complex and evolving landscape of global trade, maritime sanctions emerge as a critical tool wielded by the international community to curb illegal activities and alter the behavior of non-compliant states and entities. These sanctions, designed to restrict or prohibit trade by sea with sanctioned jurisdictions, entities, or individuals, face continuous challenges due to the sophisticated evasion tactics employed by countries like North Korea. As the Democratic People's Republic of Korea (DPRK) diverts significant resources to circumvent these measures, understanding the nuances of their methodologies becomes imperative for maintaining the integrity of global trade systems. The DPRK, one of the most sanctioned nations globally, has developed an intricate network to facilitate its trade in illicit goods, ensuring the flow of revenue from designated activities continues unabated. Given its geographic and economic conditions, North Korea predominantly relies on maritime routes, utilizing foreign ports to route its illicit trade. This reliance on the sea is exploited through various sophisticated methods, including the use of front companies, falsification of documentation, commingling of bulk cargos, and physical alterations to vessels. These tactics enable the DPRK to navigate through the gaps in regulatory frameworks and lax oversight, effectively undermining international sanctions regimes Maritime sanctions carry significant implications for global trade, imposing heightened risks in the maritime domain. The deceptive practices employed not only by the DPRK but also by other high-risk jurisdictions, necessitate a comprehensive understanding of UN targeted sanctions. For stakeholders in the maritime sector—including maritime authorities, vessel owners, shipping companies, flag registries, and financial institutions serving the shipping industry—awareness and compliance are paramount. Violations can lead to severe consequences, including reputational damage, sanctions, hefty fines, and even imprisonment. To mitigate risks associated with these deceptive practices, it is crucial for maritime sector stakeholders to employ rigorous due diligence and regulatory compliance screening measures. Effective sanctions compliance serves as a protective shield against legal, financial, and reputational risks, preventing exploitation by international bad actors. This requires not only a deep understanding of the sanctions landscape but also the capability to identify and manage risks through informed decision-making and proactive risk management practices. As the DPRK and other sanctioned entities continue to evolve their sanctions evasion tactics, the international community must enhance its collective efforts to demystify and counter these practices. By leveraging more stringent compliance measures, stakeholders can safeguard against the illicit use of the maritime domain, reinforcing the effectiveness of maritime sanctions as a tool for global security. This paper seeks to dissect North Korea's adaptive strategies in the face of maritime sanctions. By examining up-to-date, geographically, and temporally relevant case studies, it aims to shed light on the primary nodes through which Pyongyang evades sanctions and smuggles goods via third-party ports. The goal is to propose multi-level interaction strategies, ranging from governmental interventions to localized enforcement mechanisms, to counteract these evasion tactics.

Keywords: maritime, maritime sanctions, international sanctions, compliance, risk

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Authors: Romuald Temomo Wamba, Robert Wanda

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The issue of creative accounting in the psychological and sociological framework has been a mixed subject for over 60 years. The objective of this article is to ensure the existence of creative accounting in Cameroonian entities on the one hand and to understand the strategies used by audit agents to detect errors, omissions, irregularities, or inadequacies in the financial state; optimization techniques used by account preparers to strategically bypass texts on the other hand. To achieve this, we conducted an exploratory study using a cognitive approach, and the data analysis was performed by the software 'decision explorer'. The results obtained challenge the authors' cognition (manifest latent and deceptive behavior). The tax inspectors stress that the entities in Cameroon do not derogate from the rules of piloting in the financial statements. Likewise, they claim a change in current income and net income through depreciation, provisions, inventories, and the spreading of charges over long periods. This suggests the suspicion or intention of manipulating the financial statements. As for the techniques, the account preparers manage the accruals at the end of the year as the basis of the practice of creative accounting. Likewise, management accounts are more favorable to results management.

Keywords: creative accounting, sociocognitive approach, psychological and sociological approach, cognitive dissonance theory, cognitive mapping

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Authors: Muhammad Ali Khan

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Although most Muslims are aware that Riba is a great sin in Islamic Shariah, they still do not find themselves inclined toward Islamic banking for their financial needs/activities/requirements. The main purpose of this research work is to analyse the general trend of people's views and miss conceptions among them regarding Islamic Banking and therefore suggest promoting Islamic banking. Scholars believe that Islamic finance is more stable than conventional banking because of the nature of its banking practices, which are based on real assets or partnerships. This is why Islamic banking is growing fastly worldwide, particularly in the wake of global financial crisis. Even though the scope of Islamic banking is expanding on a daily basis yet, it is not gaining the popularity it deserves. Islam declares war against Allah and his last messenger Hazrat Muhammad (PBUM) as it is a great sin and strictly forbids all interest-based transactions. Holy Quran revealed, O you who believe, do not eat up the amounts acquired through Riba (interest), doubled and multiplied. Fear Allah, so that you may be successful. Therefore a, true Muslim who believe in Judgement day always make all efforts in their life to avoid gambling and other speculative activities like Riba for themselves and their loved ones. If a Muslim does not fight against Riba to protect himself and his family, then his faith is meaningless. Allah issues warnings at numerous places in the holy Quran regarding Riba and its sin. Thus, Islamic banking is an alternative banking system where banking transactions are based on Islamic principles. The major component of Islamic Banking is Profit and loss sharing (PLS), as well as ensuring economic justice and equity.

Keywords: Islamic banking, Riba, interest, financial crises

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Authors: Shih-Kuei Lin

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The characterization of the arbitrage-free dynamics of interest rates is developed in this study under the presence of Markov jump risks, when the term structure of the interest rates is modeled through simple forward rates. We consider Markov jump risks by allowing randomness in jump sizes, independence between jump sizes and jump times. The Markov jump diffusion model is used to capture empirical phenomena and to accurately describe interest jump risks in a financial market. We derive the arbitrage-free model of simple forward rates under the spot measure. Moreover, the analytical pricing formulas for a cap and a floor are derived under the forward measure when the jump size follows a lognormal distribution. In our empirical analysis, we find that the LIBOR market model with Markov jump risk better accounts for changes from/to different states and different rates.

Keywords: arbitrage-free, cap and floor, Markov jump diffusion model, simple forward rate model, volatility smile, EM algorithm

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Authors: Jason Chen, Jennifer Chen, Shiyu Li

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We examine whether managerial ability (MA), the passing of Sarbanes-Oxley in 2002 (SOX), and corporate operational complexity affect the accuracy of environmental capital expenditure projections of the environmentally sensitive industries (ESI). Prior studies found that firms in the ESI manipulated their projected environmental capital expenditures as a tool to achieve corporate legitimation and suggested that human factors must be examined to determine whether they are part of the determinants. We use MA to proxy for the latent human factors to examine whether MA affects the accuracy of financial disclosures in the ESI. To expand Chen and Chen (2020), we further investigate whether (1) SOX and (2) firms with complex operations and financial reporting in conjunction with MA affect firms’ projection accuracy. We find, overall, that MA is positively correlated with firm’s projection accuracy in the annual 10-Ks. Furthermore, results suggest that SOX has a positive, yet temporary, effect on MA, and that leads to better accuracy. Finally, MA matters for firms with more complex operations and financial reporting to make less projection errors than their less-complex counterparts. These results suggest that MA is a determinant that affects the accuracy of environmental capital expenditure projections for the firms in the ESI.

Keywords: managerial ability, environmentally sensitive industries, sox, corporate operational complexity

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Authors: Marju Ben Sayed, Shigeko Haruyama

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Among all kinds of natural disaster, the flood is a common feature in rapidly urbanizing Dhaka city. In this research, assessment of flood risk of Dhaka metropolitan area has been investigated by using an integrated approach of GIS, remote sensing and socio-economic data. The purpose of the study is to measure the flooding risk concerning with the flood protection embankment in big flooding events (1988, 1998 and 2004) and urbanization of Dhaka metropolitan zone. In this research, we considered the Dhaka city into two parts; East Dhaka (outside the flood protection embankment) and West Dhaka (inside the flood protection embankment). Using statistical data, we explored the socio-economic status of the study area population by comparing the density of population, land price and income level. We have drawn the cross section profile of the flood protection embankment into three different points for realizing the flooding risk in the study area, especially in the big flooding year (1988, 1998 and 2004). According to the physical condition of the study area, the land use/land cover map has been classified into five classes. Comparing with each land cover unit, historical weather station data and the socio-economic data, the flooding risk has been evaluated. Moreover, we compared between DEM data and each land cover units to find out the relationship with flood. It is expected that, this study could contribute to effective flood forecasting, relief and emergency management for a future flood event in Dhaka city.

Keywords: land use, land cover change, socio-economic, Dhaka city, GIS, flood

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Authors: Liyu Adhi Kasari Sulung

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Poverty has been a major problem in Indonesia. Islamic micro finance (IMF) named Baitul Maal Wat Tamwil (Bmt) plays a prominent role to eradicate this. Indonesia as the biggest muslim country has many successful applied products such as worldwide adopt group-based lending approach, flexible financing for farmers, and gold pawning. The Problems related to these models are operation risk management and internal control system (ICS). A proper ICS will help an organization in preventing the occurrence of bad financing through detecting error and irregularities in its operation. This study aims to seek a proper risk management scheme of credit system in Bmt and internal control system’s rank for every stage. Risk management variables are obtained at the first In-Depth Interview (IDI) and Focus Group Discussion (FGD) with Shariah supervisory boards, boards of directors, and operational managers. Survey was conducted covering nationwide data; West Java, South Sulawesi, and West Nusa Tenggara. Moreover, Content analysis is employed to build the relationship among these variables. Research Findings shows that risk management Characteristics in Indonesia involves ex ante, credit process, and ex post strategies to deal with risk in credit system. Ex-ante control consists of Shariah compliance, survey, group leader reference, and islamic forming orientation. Then, credit process involves saving, collateral, joint liability, loan repayment, and credit installment controlling. Finally, ex-post control includes shariah evaluation, credit evaluation, grace period and low installment provisions. In addition, internal control order sort three stages by its priority; Credit process as first rank, then ex-post control as second, and ex ante control as the last rank.

Keywords: internal control system, islamic micro finance, poverty, risk management

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Authors: Marina Nosik, Irina Rymanova, Sergei Sevostyanihin, Natalya Sergeeva, Alexander Sobkin

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This paper presents results of the survey regarding the awareness about HIV/AIDS among HIV-infected individuals. A questionnaire covering various aspects of HIV-infection was conducted among 110 HIV-infected individuals who attended the G.A. Zaharyan Moscow Tuberculosis Clinic, Department for the treatment of TB patients with HIV. The questionnaire included questions about modes of HIV transmission and preventive measures against HIV/AIDS, as well as questions about age, gender, education, and employment status. The survey revealed that the respondents in the whole had a good knowledge regarding modes of HIV transmission and preventive measures against HIV/AIDS: about 83,6% male respondents and 85,7% female respondents gave accurate answers regarding the HIV-infection. However, the overwhelming majority of the study participants, that is, 88,5% men and 98% women, was quite ignorant about the risk of acquiring HIV through saliva and toothbrush of HIV-infected individual. Though that risk is rather insignificant, it is still biologically possible. And this gap in knowledge needs to be filled. As the study showed another point of concern was the fact, that despite the knowledge of HIV transmission risk through unprotected sex about 40% percent of HIV-positive men and 25% of HIV-positive women did not insist on using condoms with their sexual partners. These findings indicate that there are still some aspects about HIV-infection which needed to be clarified and explained through more detailed and specific educational programmes.

Keywords: AIDS, HIV transmission risks, HIV misconceptions, risk behavior

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Authors: Naziema Begum Jappie

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Leadership and entrepreneurship in higher education have become critical components in navigating the evolving landscape of academia in the 21st century. This abstract explores the multifaceted relationship between leadership and entrepreneurship within the realm of higher education, emphasizing their roles in fostering innovation and sustainability. Higher education institutions, often characterized as slow-moving and resistant to change, are facing unprecedented challenges. Globalization, rapid technological advancements, changing student demographics, and financial constraints necessitate a reimagining of traditional models. Leadership in higher education must embrace entrepreneurial thinking to effectively address these challenges. Entrepreneurship in higher education involves cultivating a culture of innovation, risk-taking, and adaptability. Visionary leaders who promote entrepreneurship within their institutions empower faculty and staff to think creatively, seek new opportunities, and engage with external partners. These entrepreneurial efforts lead to the development of novel programs, research initiatives, and sustainable revenue streams. Innovation in curriculum and pedagogy is a central aspect of leadership and entrepreneurship in higher education. Forward-thinking leaders encourage faculty to experiment with teaching methods and technology, fostering a dynamic learning environment that prepares students for an ever-changing job market. Entrepreneurial leadership also facilitates the creation of interdisciplinary programs that address emerging fields and societal challenges. Collaboration is key to entrepreneurship in higher education. Leaders must establish partnerships with industry, government, and non-profit organizations to enhance research opportunities, secure funding, and provide real-world experiences for students. Entrepreneurial leaders leverage their institutions' resources to build networks that extend beyond campus boundaries, strengthening their positions in the global knowledge economy. Financial sustainability is a pressing concern for higher education institutions. Entrepreneurial leadership involves diversifying revenue streams through innovative fundraising campaigns, partnerships, and alternative educational models. Leaders who embrace entrepreneurship are better equipped to navigate budget constraints and ensure the long-term viability of their institutions. In conclusion, leadership and entrepreneurship are intertwined elements essential to the continued relevance and success of higher education institutions. Visionary leaders who champion entrepreneurship foster innovation, enhance the student experience, and secure the financial future of their institutions. As academia continues to evolve, leadership and entrepreneurship will remain indispensable tools in shaping the future of higher education. This abstract underscores the importance of these concepts and their potential to drive positive change within the higher education landscape.

Keywords: entrepreneurship, higher education, innovation, leadership

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Authors: Ahuva Even-Zohar

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Context: Families living in poverty often struggle with poor financial management and accumulating debts. Social workers play a crucial role in assisting these families, but they typically receive no formal training in financial management. Research Aim: The aim of this study was to assess the impact of a voluntary organization called Paamonim on social work students' attitudes toward providing material support and assistance in financial management to families living in poverty. Additionally, the study aimed to evaluate the students' perception of the workshop's contribution and their actual use of the tools acquired during the training. Methodology: The study involved 134 social work students, with 55 in a regular program and 79 in a retraining program. The first stage of the study involved the students receiving an explanation of the research, ensuring confidentiality, and signing informed consent. The students completed two questionnaires: The Student Attitudes Questionnaire and a sociodemographic questionnaire. In the second stage, three months after the workshop, the students completed the questionnaires again, along with a feedback questionnaire. Findings: The study found that there were no significant differences in the students' attitudes toward providing material support and proper financial management to families living in poverty before and after the workshop. However, their attitudes remained positive, at a medium level or higher. The students reported that the workshop provided them with tools to assist families in poverty, and they used these tools to some extent in their practical training. They found the workshop interesting and acknowledged its importance in raising awareness about budget management and enriching their knowledge of money management. The students acknowledged the workshop's effectiveness but mentioned that it was too short. Theoretical Importance: This study highlights the importance of developing programs to help families living in poverty manage their household finances. The workshop enriched the students' knowledge and skills, which are vital for their role as social workers working with families in poverty to rehabilitate their financial situations. Data Collection and Analysis Procedures: The students completed self-report questionnaires before and after the workshop, providing insights into their attitudes and perception about the role of social workers in providing material support for families living in poverty and helping them manage their household finances. Statistical analysis was conducted to compare the students' attitudes pre and post-workshop, and a feedback questionnaire assessed the students' perception of the contribution of the workshop. Question Addressed: This study addressed the question of whether a workshop on financial management can positively impact social work students' attitudes and skills in assisting families living in poverty with their household finances. Conclusion: Despite being short and consisting of only one session, the workshop proved to be valuable in enriching the students' knowledge and providing them with important tools for their role as social workers. The students reported positive attitudes toward providing material support and financial assistance to families in need. The practical recommendation is to continue offering such workshops as part of the social work curriculum to further enhance students' abilities to help families manage their finances effectively.

Keywords: financial literacy, poverty, social work students, workshop

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Authors: Sajjad Baghernezhad

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Meta-heuristic and hybrid algorithms have high adeer in modeling medical problems. In this study, a neural network was used to predict covid-19 among high-risk and low-risk patients. This study was conducted to collect the applied method and its target population consisting of 550 high-risk and low-risk patients from the Kerman University of medical sciences medical center to predict the coronavirus. In this study, the memetic algorithm, which is a combination of a genetic algorithm and a local search algorithm, has been used to update the weights of the neural network and develop the accuracy of the neural network. The initial study showed that the accuracy of the neural network was 88%. After updating the weights, the memetic algorithm increased by 93%. For the proposed model, sensitivity, specificity, positive predictivity value, value/accuracy to 97.4, 92.3, 95.8, 96.2, and 0.918, respectively; for the genetic algorithm model, 87.05, 9.20 7, 89.45, 97.30 and 0.967 and for logistic regression model were 87.40, 95.20, 93.79, 0.87 and 0.916. Based on the findings of this study, neural network models have a lower error rate in the diagnosis of patients based on individual variables and vital signs compared to the regression model. The findings of this study can help planners and health care providers in signing programs and early diagnosis of COVID-19 or Corona.

Keywords: COVID-19, decision support technique, neural network, genetic algorithm, memetic algorithm

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Authors: Dhaksha Vivekanandan

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DeFi is a network that avoids reliance on financial intermediaries through its peer-to-peer financial network. DeFi operates outside of government control; hence it is important for us to understand its impacts. This study employs a literature review to understand DeFi and its emergence, as well as its implications on transparency, social impact, and regulation. Further, 3 case studies are analysed within the context of these categories. DeFi’s provision of increased transparency poses environmental and storage costs and can lead to user privacy being endangered. DeFi allows for the provision of entrepreneurial incentives and protection against monetary censorship and capital control. Despite DeFi's transparency issues and volatility costs, it has huge potential to reduce poverty; however, regulation surrounding DeFi still requires further tightening by governments.

Keywords: DeFi, transparency, regulation, social impact

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Authors: Abilio Pires Zacarias

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Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

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Authors: Pinar Ercan, Bulut Mert

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The baking industry is prone to occupational health challenges like other industries. Workers in bakeries face many hazards in their work environment; hazards have the potential for causing injury, illness or work accidents. Most of these hazards are preventable and arise from the neglect of occupational safety measures. Some bakeries in Izmır Turkey was evaluated according to occupational health and safety. First of all, the production process was evaluated. The survey was administered to a total of 50 employees. The survey consisted of two sections. The first one comprised only demographic questions and items related to job characteristics. The remaining section was assessing the satisfaction and confidence about occupational health and safety in terms of employees consist of a 10-item questionnaire by using HSE (2010) survey with some modifications. Also, hazards, risks and control measures in the bakeries were determined. Risk assessment has been done by the use of '5x5 Risk Assessment Table' for this purpose.

Keywords: bakeries, occupational health and safety, hazards, risks, risk assessment

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Authors: Shady Gamal Aziz Shehata

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Difficulty in defining construction quality arises due to perception based on the nature and requirements of the market, the different partners themselves and the results they want. Quantitative research was used in this constructivist research. A case-based study was conducted to assess the structures of positive attitudes and expectations in the context of quality improvement. A survey based on expert opinions was analyzed among construction organizations/companies operating in the construction industry in Pakistan. The financial strength, management structure and construction experience of the construction companies formed the basis of their selection. A good concept is visible at the project level and is seen as the most valuable part of the construction project. Each quality improvement technique was expected to increase the user's profits by improving the efficiency of the construction project. The Survey is useful for construction professionals to evaluate current construction concepts and expectations for the application of quality improvement techniques in construction projects.

Keywords: correlation analysis, lean construction tools, lean construction, logistic regression analysis, risk management, safety construction quality, expectation, improvement, perception

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Authors: Omar Hamdy, Schichen Zhao, Hussein Abd El-Atty, Ayman Ragab, Muhammad Salem

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One of the most risky areas in Aswan is Abouelreesh, which is suffering from flood disasters, as heavy deluge inundates urban areas causing considerable damage to buildings and infrastructure. Moreover, the main problem was the urban sprawl towards this risky area. This paper aims to identify the urban areas located in the risk areas prone to flash floods. Analyzing this phenomenon needs a lot of data to ensure satisfactory results; however, in this case the official data and field data were limited, and therefore, free sources of satellite data were used. This paper used ArcGIS tools to obtain the storm water drains network by analyzing DEM files. Additionally, historical imagery in Google Earth was studied to determine the age of each building. The last step was to overlay the urban area layer and the storm water drains layer to identify the vulnerable areas. The results of this study would be helpful to urban planners and government officials to make the disasters risk estimation and develop primary plans to recover the risky area, especially urban areas located in torrents.

Keywords: risk area, DEM, storm water drains, GIS

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Authors: S. Anastasiou, C. Nathanailides, S. Logothetis, G. Kanlis

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The Greek aquaculture industry is second most important economic sector for the growth of the Greek Economy. The purpose of the present work is to present some data for the management challenges that the Aquaculture industry in Greece is currently facing. Currently the Greek aquaculture industry is going through a series of mergers and restructure. The financial status of the different aquaculture companies, the working conditions and management practices may vary according to lending exposure, market mix, company size, and technological parameters of the different fish farm units and rearing systems. Frequently, the aquaculture personnel are exposed to harsh environmental conditions and to occupational risk. Furthermore, there is pressure on the personnel of fish farms to constantly improve their production efficiency and to enhance their work skills to the new methods and practices which are adopted by the aquaculture industry. There is some data to suggest the existence of gender inequality in the workforce of Greek fish farms. Women are paid less, frequently absent higher managerial positions and most of the male workmates consider the job to harsh for women. Nevertheless, high level of job satisfaction was observed in both men and women. This high level of job satisfaction of the aquaculture personnel can be attributed, at least partially, to the nature of the work which has a very distinct working environment but most of the staff has very positive experiences with the interaction with their workmates and the satisfaction of being in a business which always exceeds its production target. Indeed, there is some evidence to suggest that the Greek aquaculture industry is always exceeding its production targets, while it is rapidly adopting and improving new technology, constantly improving of human resources management practices, which include constant training of the staff, very good communication channels between management and the personnel and reducing the risk of occupational hazard to the aquaculture personnel. All these parameters of management may have a determining role for the volume and quality of the production and future of this sector in Greece.

Keywords: aquaculture, fish quality, management, production targets

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Authors: Won-Seok Kim, Hyung-Ik Shin

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Self-rated health (SRH) is a subjective assessment of individual health and has been identified as a strong predictor for mortality and morbidity. However few studies have been directed to the factors associated with SRH in persons with disabilities (PWD). We used data of 7th Korean national survey for 5307 PWD in 2008. Multiple logistic regression analysis was performed to find out independent risk factors for poor SRH in PWD. As a result, indicators of physical condition (poor instrumental ADL), socioeconomic disadvantages (poor education, economically inactive, low self-rated social class, medicaid in health insurance, presence of unmet need for hospital use) and social participation and networks (no use of internet service) were selected as independent risk factors for poor SRH in final model. Findings in the present study would be helpful in making a program to promote the health and narrow the gap of health status between the PWD.

Keywords: disabilities, risk factors, self-rated health, socioeconomic disadvantages, social networks

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Authors: Deniz Ünal Özpalamutcu, Burcu Altman

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Actuaria uses mathematics, statistic and financial information when analyzing the financial impacts of uncertainties, risks, insurance and pension related issues. In other words, it deals with the likelihood of potential risks, their financial impacts and especially the financial measures. Handling these measures require some long-term payment and investments. So, it is obvious it is inevitable to plan the periodic payments with equal time intervals considering also the changing value of money over time. These series of payment made specific intervals of time is called annuity or rant. In literature, rants are classified based on start and end dates, start times, payments times, payments amount or frequency. Classification of rants based on payment amounts changes based on the constant, descending or ascending payment methods. The literature about handling the annuity is very limited. Yet in a daily life, especially in today’s world where the economic issues gained a prominence, it is very crucial to use the variable annuity method in line with the demands of the customers. In this study, the types of annuities with flexible payment are discussed. In other words, we focus on calculating payment amount of a period by adding a certain percentage of previous period payment was studied. While studying this problem, formulas were created considering both start and end period payments for cash value and accumulated. Also increase of each period payment by r interest rate each period payments calculated with previous periods increases. And the problem of annuities (rants) of which each period payment increased with previous periods’ increase by r interest rate has been analyzed. Cash value and accumulated value calculation of this problem were studied separately based on the period start/end and their relations were expressed by formulas.

Keywords: actuaria, annuity, flexible payment, rant

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Authors: Sharmin Shahid, Zaher Zain

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The purpose of this study is to explore and examines the theoretical frameworks of ethical leadership style and affective organizational commitment. Additionally, to investigate the extent to which employee orientation and ethical guidance either strengthen or weaken on the relationship between ethical leadership style and affective commitment. The study will also measure the mediating effects of leader’s integrity either influence to inspire and revival employee’s affective commitment or not. The methodology of the study comprised sample of 237 managers, departmental heads, top-level executives, and professors of several financial institutions, banks, and universities in Bangladesh who are directly related with decision making process of respective organization. A cross sectional research design will be used to examine the direct, moderating, and mediating analysis among the research key variables. Data were gathered based on personal administered questionnaire. The findings of the study will be significance because it will provide the real scenario of leadership style which leads to financial and strategic success of any organizations. In addition, the results will be interesting enough to find out either ethical leadership style have positive relationship with affective commitment or not. Employee-orientation and ethical guidance is a moderator to improve leadership style and affective commitment, whereas, leader’s integrity mediates the relationships between leadership style and affective organizational commitment to do the right thing in the right way for the betterment of entire organizational success. Research limitations of the study are the data collected by self administered questionnaire, a method with well-known shortcomings. Second, the study concentrated on financial institutions, banks top executives, and universities professors in Bangladesh. An important implication of the research is that the interesting findings will give some insight to the leadership style and helps management to focus on their management and leadership efficacy, as that could improve their affective organizational commitment. The findings will be original and unique value adding with the existing literature on leadership studies. The study is based on a comprehensive literature review. The results will be based on a sample of financial institutions, banks, and universities in Bangladesh. The research findings are useful to academics and corporate leaders of financial institutions, banks, and universities all over the world.

Keywords: affective organizational commitment, Bangladesh, ethical guidance, ethical leadership style

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Authors: L. Feleagă, M. Dumitrașcu, N. Feleagă

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This article is a research on corporate governance. The aim of the study is to focus a special attention on the importance of corporate social responsibility and corporate governance, which are relevant, indeed necessary, for organizations. In this regard, we analyzed the corporate social responsibility in the context of corporate governance for companies listed on Bucharest and Bombay Stock Exchange. Therefore, we bring into the spotlight some differences between India and Romania linked with the importance ascribed to corporate social responsibility of a company. We presented the results of the demarche and we concluded suggestions regarding further research in this area. The study increases the awareness, identifies and articulates desirable behaviors, which are not intended to be exhaustive.

Keywords: corporate governance, corporate social responsibility, disclosure, listed companies

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Authors: Sameen Masood, Muhammad Ali Jibran

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The frequent flood history in Pakistan has pronounced the need for disaster risk management. Various policies are formulated and steps are being taken by the government in order to cope with the flood effects. However, a much promising pro-active approach that is globally acknowledged is educating the masses regarding living with risk and uncertainty. Unfortunately, majority of the flood victims in Pakistan are poor and illiterate which also transpires as a significant cause of their distress. An illiterate population is not risk averse or equipped intellectually regarding how to prepare and protect against natural disasters. The current research utilizes a cross-disciplinary approach where the role of education (both formal and informal) and indigenous knowledge is explored with reference to disaster preparedness. The data was collected from the flood prone rural areas of Punjab. In the absence of disaster curriculum taught in formal schools, informal education disseminated by NGOs and relief and rehabilitation agencies was the only education given to the flood victims. However the educational attainment of flood victims highly correlated with their awareness regarding flood management and disaster preparedness. Moreover, lessons learned from past flood experience generated indigenous knowledge on the basis of which flood victims prepared themselves for any uncertainty. If the future policy regarding disaster preparation integrates indigenous knowledge and then delivers education on the basis of that, it is anticipated that the flood devastations can be much reduced. Education can play a vital role in amplifying perception of risk and taking precautionary measures for disaster. The findings of the current research will provide practical strategies where disaster preparedness through education has not yet been applied.

Keywords: education, disaster preparedness, illiterate population, risk management

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Authors: Mario M. J. Musonda

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Access to health care is a human right, which includes having timely access to affordable and quality essential medicines at the right place and in sufficient quantity. However, inefficient public sector supply chain management contributes to constant shortages of essential medicines at health facilities. Literature review involved a desktop study of published research studies and reports on risk management, supply chain management of essential medicines and their integration to increase the efficiency of the latter. The research was conducted on a sample population of offices under Ministry of Health Headquarters, Lusaka Provincial and District Offices, selected health facilities in Lusaka, Medical Stores Limited, Zambia Medicines Regulatory Authority and Cooperating Partners. Individuals involved in study were selected judgmentally by their functions under selection and quantification, regulation, procurement, storage, distribution, quality assurance, and dispensing of essential medicines. Structured interviews and discussions were held with selected experts and self-administered questionnaires were distributed. Collected and analysed data of 35 returned and usable questionnaires from the 50 distributed. The highest prioritised risks were; inadequate and inconsistent fund disbursements, weak information management systems, weak quality management systems and insufficient resources (HR and infrastructure) among others. The results for this research can be used to increase the efficiency of the public sector supply chain of essential medicines and other pharmaceuticals. The results of the study showed that there is need to implement effective risk management systems by participating institutions and organisations to increase the efficiency of the entire supply chain in order to avoid and/or reduce shortages of essential medicines at health facilities.

Keywords: essential medicine, risk assessment, risk management, supply chain, supply chain risk management

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Authors: Kang-Hsien Li

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Along with global industries in using technology to enhance the application, make the study drawn more close to the people’s behavior and produce data analysis, extended out from the mental accounting of prospect theory, this paper provides the marketing and financial applications in the field of exploration and discussions with the future. For the foreseeable future, the payment behavior depends on the form of currency, which affects a variety of product types on the marketing of marketing strategy to provide diverse payment methods to enhance the overall sales performance. This not only affects people's consumption also affects people's investments. Credit card, PayPal, Apple pay, Bitcoin and any other with advances in technology and other emerging payment instruments, began to affect people for the value and the concept of money. Such as the planning of national social welfare policies, monetary and financial regulators and regulators. The expansion can be expected to discuss marketing and finance-related mental problems at the same time, recent studies reflect two different ideas, the first idea is that individuals affected by situational frames, not broad impact at the event level, affected by the people basically mental, second idea is that when an individual event affects a broader range, and majority of people will choose the same at the time that the rational choice. That are applied to practical application of marketing, at the same time provide an explanation in the financial market under the anomalies, due to the financial markets has varied investment products and different market participants, that also highlights these two points. It would provide in-depth description of humanity's mental. Certainly, about discuss mental accounting aspects, while artificial intelligence application development, although people would be able to reduce prejudice decisions, that will also lead to more discussion on the economic and marketing strategy.

Keywords: mental accounting, behavior economics, consumer behaviors, decision-making

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Authors: Kylie Mueller, Nijole Bernaitis, Shailendra Anoopkumar-Dukie

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Background: Vitamin K antagonists particularly warfarin is the most frequently used oral medication for deep vein thrombosis (DVT) treatment and prophylaxis. Time in therapeutic range (TITR) of the international normalised ratio (INR) is widely accepted as a measure to assess the quality of warfarin therapy. Multiple factors can affect warfarin control and the subsequent adverse outcomes including thromboembolic and bleeding events. Predictor models have been developed to assess potential contributing factors and measure the individual risk of these adverse events. These predictive models have been validated in atrial fibrillation (AF) patients, however, there is a lack of literature on whether these can be successfully applied to other warfarin users including DVT patients. Therefore, the aim of the study was to assess the ability of these risk models (HAS BLED and CHADS2) to predict haemorrhagic and ischaemic incidences in DVT patients treated with warfarin. Methods: A retrospective analysis of DVT patients receiving warfarin management by a private pathology clinic was conducted. Data was collected from November 2007 to September 2014 and included demographics, medical and drug history, INR targets and test results. Patients receiving continuous warfarin therapy with an INR reference range between 2.0 and 3.0 were included in the study with mean TITR calculated using the Rosendaal method. Bleeding and thromboembolic events were recorded and reported as incidences per patient. The haemorrhagic risk model HAS BLED and ischaemic risk model CHADS2 were applied to the data. Patients were then stratified into either the low, moderate, or high-risk categories. The analysis was conducted to determine if a correlation existed between risk assessment tool and patient outcomes. Data was analysed using GraphPad Instat Version 3 with a p value of <0.05 considered to be statistically significant. Patient characteristics were reported as mean and standard deviation for continuous data and categorical data reported as number and percentage. Results: Of the 533 patients included in the study, there were 268 (50.2%) female and 265 (49.8%) male patients with a mean age of 62.5 years (±16.4). The overall mean TITR was 78.3% (±12.7) with an overall haemorrhagic incidence of 0.41 events per patient. For the HAS BLED model, there was a haemorrhagic incidence of 0.08, 0.53, and 0.54 per patient in the low, moderate and high-risk categories respectively showing a statistically significant increase in incidence with increasing risk category. The CHADS2 model showed an increase in ischaemic events according to risk category with no ischaemic events in the low category, and an ischaemic incidence of 0.03 in the moderate category and 0.47 high-risk categories. Conclusion: An increasing haemorrhagic incidence correlated to an increase in the HAS BLED risk score in DVT patients treated with warfarin. Furthermore, a greater incidence of ischaemic events occurred in patients with an increase in CHADS2 category. In an Australian population of DVT patients, the HAS BLED and CHADS2 accurately predicts incidences of haemorrhage and ischaemic events respectively.

Keywords: anticoagulant agent, deep vein thrombosis, risk assessment, warfarin

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Authors: Sujata Upgupta, Prasoon Kumar Singh

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The expansion of large scale coal mining into forest areas is a potential hazard for the local biodiversity and wildlife. The objective of this study is to provide a picture of the threat that coal mining poses to the forests of the East Bokaro landscape. The vulnerable forest areas at risk have been assessed and the priority areas for conservation have been presented. The forested areas at risk in the current scenario have been assessed and compared with the past conditions using classification and buffer based overlay approach. Forest vulnerability has been assessed using an analytical framework based on systematic indicators and composite vulnerability index values. The results indicate that more than 4 km² of forests have been lost from 1973 to 2016. Large patches of forests have been diverted for coal mining projects. Forests in the northern part of the coal field within 1-3 km radius around the coal mines are at immediate risk. The original contiguous forests have been converted into fragmented and degraded forest patches. Most of the collieries are located within or very close to the forests thus threatening the biodiversity and hydrology of the surrounding regions. Based on the vulnerability values estimated, it was concluded that more than 90% of the forested grids in East Bokaro are highly vulnerable to mining. The forests in the sub-districts of Bermo and Chandrapura have been identified as the most vulnerable to coal mining activities. This case study would add to the capacity of the forest managers and mine managers to address the risk and vulnerability of forests at a small landscape level in order to achieve sustainable development.

Keywords: forest, coal mining, indicators, vulnerability

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Authors: Kwanele Qonono

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Despite the significance and economic benefits of petrol stations in South Africa, these still pose a huge risk of fire and explosion threatening public safety. This research paper examines the extent to which land-use planning in Stellenbosch, South Africa, considers the fire risk posed by petrol stations and the implications for public safety as well as preparedness for large fires or explosions. To achieve this, the research identified the land-use types around petrol stations in Stellenbosch and determined the extent to which their locations comply with the local, national, and international land-use planning regulations. A mixed research method consisting of the collection and analysis of geospatial data and qualitative data was an applied method, where petrol stations within a six-kilometre radius of Stellenbosch’s town centre were utilised as study sites. The research examined the risk of fires/explosions at these petrol stations. The research investigated Stellenbosch Municipality’s institutional preparedness to respond in the event of a fire/explosion at these petrol stations. The research observed that siting of petrol stations does not comply with local, national, and international good practices, thus exposing the surrounding developments to fires and explosions. Land-use planning practice does not consider hazards created by petrol stations. Despite the potential for major fires at petrol stations, Stellenbosch Municipality’s level of preparedness to respond to petrol station fires appears low due to the prioritisation of more frequent events.

Keywords: petrol stations, technological hazard, drr, land-use planning, risk analysis

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Authors: Sibylle Tellenbach, Julie Haddock-Millar, Francis Bidault

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The aim of this research is to understand the extent to which hybrid working models have influenced employee engagement in the Swiss financial sector. The context for this research is the transition out of the pandemic and the changes that have occurred between 2020 and 2023. Since the pandemic, many financial services companies have had to rethink their working model for office-based employees, as this group of employees has been able to experience a new way of working and, thus, greater freedom and flexibility. For a large number of companies, it was a huge change to shift from the traditional office-based to a new hybrid working model. A heightened focus on employee engagement has become a necessity in order to understand and respond to the challenges presented by the shift in a working model. This new way of working, partly office-based and partly virtual, has led to ambiguities about the impact on the engagement of hybrid teams. Therefore, the research question is: How hybrid working models have influenced employee engagement to what extent? The methodological approach is a narrative inquiry with four similar functional teams within four Swiss financial companies. Semi-structured interviews will be conducted with managers from middle management and their individual team members. The findings will demonstrate whether this shift in the working model influenced individual team members’ engagement and to what extent. The contribution of this research is two-fold. First, the research makes a theoretical contribution, presenting evidence of the impact of hybrid working on individual team members’ engagement in a specific sector and context, enhancing current knowledge on the challenges in working model transition. Second, this research will make a practice-based contribution, recommending ways to enhance the engagement of hybrid teams in a specific context. These recommendations may be applied in wider sectors and teams.

Keywords: employee engagement, hybrid teams, hybrid working models, Swiss financial sector, team engagement

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Authors: Benedicta Asante, Catherine Trask, Brenna Bath

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Background: Waste Collection Workers’ (WCWs) activities contribute greatly to the recycling sector and are an important component of the waste management industry. As the recycling sector evolves, there is the increase in reports of injuries, particularly for common and debilitating musculoskeletal disorders such as low back disorder (LBD). WCWs are likely exposed to diverse work-related hazards that could contribute to LBD. However, there is currently no summary of the state of knowledge on the prevalence and risk factors of LBD within this workforce. Method: A comprehensive search was conducted in Ovid Medline, EMBASE, and Global Health e-publications with search term categories ‘low back disorder’ and ‘waste collection workers’. Two reviewers screened articles at title, abstract, and full-text stages. Data were extracted on study design, sampling strategy, socio-demographics, geographical region, and exposure definition, the definition of LBD, response rate, statistical techniques, LBD prevalence and risk factors. The risk of bias was assessed with a standardized tool. Results: The search of three databases generated 79 studies. Thirty-two studies met the study inclusion criteria for both title and abstract; only thirteen full-text articles met the study criteria and underwent data extraction. The majority of articles reported a 12-month prevalence of LBD between 16-74%. Although none of the included studies quantified relationships between risk factors and LBD, the suggested risk factors for LBD among WCWs included: awkward posture; lifting; pulling; pushing; repetitive motions; work duration; and physical loads. Conclusion: LBD is a major occupational health issue among WCWs. In light of these risks and future growth in this industry, further research should focus on the investigation of risk factors, with more focus on ergonomic exposure assessment, and LBD prevention efforts.

Keywords: low back pain, scavenger, waste pickers, waste collection workers

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Authors: Majeda S. Hammoud

Abstract:

Background and Aim: Gestational diabetes mellitus (GDM) is a common pregnancy complication affecting around 14% of pregnancies globally that carries short and long-term consequences to the mother and her child. Pre-pregnancy overweight or obesity is the most consistently and strongly associated modifiable risk factor with GDM development. This analysis aimed to determine whether vitamin D status during pregnancy modulates the effect of pre-pregnancy obesity/overweight on GDM risk while stratifying by maternal age. Methods: Data from the Kuwait Birth Cohort (KBC) study were analyzed, which enrolled pregnant women in the second or third trimester of gestation. Pre-pregnancy body mass index (BMI; kg/m2) was categorized as under/normal weight (<25.0), overweight (25.0 to <30.0), and obesity (≥30.0). 25 hydroxyvitamin D levels were measured in blood samples that were collected at recruitment and categorized as deficiency (<50 nmol/L) and insufficiency/sufficiency (≥50 nmol/L). GDM status was ascertained according to international guidelines. Logistic regression was used to evaluate associations, and adjusted odds ratios (aOR) and 95% confidence intervals (CI) were estimated. Results: The analyzed study sample included a total of 982 pregnant women, with a mean (SD) age of 31.4 (5.2) years. The prevalence of GDM was estimated to be 17.3% (95% CI: 14.9-19.7), and the prevalence of pre-pregnancy overweight and obesity was 37.8% (95% CI: 34.8-40.8) and 28.8% (95% CI: 26.0-31.7), respectively. The prevalence of gestational vitamin D deficiency was estimated to be 55.3% (95% CI: 52.2-58.4). The association between pre-pregnancy overweight or obesity with GDM risk differed according to maternal age and gestational vitamin D status (Pinteraction[BMI × age × vitamin D = 0.047). Among pregnant women aged <35 years, prepregnancy obesity compared to under/normal weight was associated with increased GDM risk among women with gestational vitamin D deficiency (aOR: 3.65, 95% CI: 1.50-8.86, p = 0.004) and vitamin D insufficiency/sufficiency (aOR: 2.55, 95% CI: 1.16-5.61, p = 0.019). In contrast, among pregnant women aged ≥35 years, pre-pregnancy obesity compared to under/normal weight was associated with increased GDM risk among women with gestational vitamin D deficiency (aOR: 9.70, 95% CI: 2.01-46.69, p = 0.005), but not among women with vitamin D insufficiency/sufficiency (aOR: 1.46, 95% CI: 0.42-5.16, p = 0.553). Conclusion: The effect of pre-pregnancy obesity on GDM risk is modulated by maternal age and gestational vitamin D status, with the effect of pre-pregnancy obesity being more pronounced among older pregnant women (aged ≥35 years) with gestational vitamin D deficiency compared to those with vitamin D insufficiency/sufficiency. Whereas, among younger women (aged <35 years), the effect of pre-pregnancy obesity on GDM risk was not modulated by gestational vitamin D status. Therefore, vitamin D supplementation among pregnant women, specifically older women with pre-pregnancy obesity, may mitigate the effect of pre-pregnancy obesity on GDM risk.

Keywords: gestational diabetes mellitus, vitamin D, obesity, body mass index

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