Search results for: operational risks

Authors: Paramita Nur Kurniati, Stanislaus Riyanta

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In the midst of the heightened usage of electronic money (e-money), Indonesian government expenditure is yet governed through cash-basis transactions. This conventional system brings about a number of potential risks and obstacles to operational conduct, including state financial liquidity issue. Consequently, Ministry of Finance is currently establishing the cashless payment methods for State Budget (APBN). Included in those advance methods is credit card facility as a government expenditure payment scheme. This policy is one of the innovations within the public sector learned from other countries’ best practices. Moreover, this particular method is already prominent within the private-sector realm. Qualitative descriptive analysis technique is implemented to evaluate the contemporary innovation of using government credit card in the path towards cashless society. This approach is expected to generate several benefits for the government, particularly in minimizing corruption within the state financial management. Effective coordination among policy makers and policy implementers is essential for the success of this policy’s exercise, without neglecting prudence and public transparency aspects. Government credit card usage shall be the potent resolution for enhancing the government’s overall public service performance.

Keywords: cashless basis, cashless society, government credit card, public sector innovation

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Authors: Chris Nelson

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Quality and excellence are qualitative topics that are usually addressed based on knowledge and past experience from leadership and those in charge of the organization. The significance of this study is to highlight the differences and similarities between these two mindsets and how an operational staff can most appropriately use them in the workplace. Quality and excellence are two words that are talked about a lot in the manufacturing world. Buzzwords such as operational excellence, quality controls, and efficiencies are discussed in the boardroom as well on the shop floor. These terms are used quite frequently and with good reasons. When a person visits their favorite local restaurant, They go because 1) they like the food and 2) the people are some of the greatest individuals to be around. With that in mind, they know they always put out quality food. They do not always go because the quality of the food is far superior than other restaurants. But the quality of ingredients always meets their expectations. When they compare them to the term excellence, they are disappointed. The food never looks like the pictures on the menu. But when have you ever been to a restaurant where the food looks the same as on the menu? For them, when evaluating which buzzword to use as a guiding star, its simple: excellence. The corporation can accomplish these goals by operating at a standard that far exceeds customer’s wants and needs.

Keywords: industrial engineering, innovation, management and technology, logistics and scheduling, six sigma

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Authors: Chinelo Igwenagu

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Teenage childbearing in developing countries has been a thing of great concern as it has often led to a number of socioeconomic problems both to the society and to the families affected. The outcome of teenage pregnancy has been generally associated with higher rates of maternal morbidity and mortality, greater risks for delivery complications, low-birth weight infants and child mortality. As a result of teenagers’ physiological and social immaturity and their lack of adequate prenatal care, health risks associated with their pregnancies and childbearing are more pronounced than those of older women. Therefore this study has examined the relationship between the age of teenagers and the outcome of teenage pregnancy. Based on this study, the result of the analysis shows that both teenagers and older mothers suffer similarly during child bearing. Hence improve medical care is paramount in all the situations.

Keywords: childbearing, mortality, Nigeria, pregnancy, prematurity, teenagers

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Authors: Pema Choejey, David Murray, Chun Che Fung

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Bhutan is becoming increasingly dependent on Information and Communications Technologies (ICTs), especially the Internet for performing the daily activities of governments, businesses, and individuals. Consequently, information systems and networks are becoming more exposed and vulnerable to cybersecurity threats. This paper highlights the findings of the survey study carried out to understand the perceptions of cybersecurity implementation among government organizations in Bhutan. About 280 ICT personnel were surveyed about the effectiveness of cybersecurity implementation in their organizations. A questionnaire based on a 5 point Likert scale was used to assess the perceptions of respondents. The questions were asked on cybersecurity practices such as cybersecurity policies, awareness and training, and risk management. The survey results show that less than 50% of respondents believe that the cybersecurity implementation is effective: cybersecurity policy (40%), risk management (23%), training and awareness (28%), system development life cycle (34%); incident management (26%), and communications and operational management (40%). The findings suggest that many of the cybersecurity practices are inadequately implemented and therefore, there exist a gap in achieving a required cybersecurity posture. This study recommends government organizations to establish a comprehensive cybersecurity program with emphasis on cybersecurity policy, risk management, and awareness and training. In addition, the research study has practical implications to both government and private organizations for implementing and managing cybersecurity.

Keywords: awareness and training, cybersecurity policy, risk management, security risks

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Authors: Alexander Babin, Leonid Savin

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In the present paper, increasing of energy efficiency of a thrust hybrid bearing with a central feeding chamber is considered. The mathematical model was developed to determine the pressure distribution and the reaction forces, based on the Reynolds equation and static characteristics’ equations. The boundary problem of pressure distribution calculation was solved using the method of finite differences. For various types of lubricants, geometry and operational characteristics, axial gaps can be determined, where the minimal friction coefficient is provided. The next part of the study considers the application of servovalves in order to maintain the desired position of the rotor. The report features the calculation results and the analysis of the influence of the operational and geometric parameters on the energy efficiency of mechatronic fluid-film bearings.

Keywords: active bearings, energy efficiency, mathematical model, mechatronics, thrust multipad bearing

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Authors: Mrigakshi Das

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The private sector investments and quantum of money required in this sector critically hinges on the financial risk and returns the sector offers to providers of capital. Therefore, it becomes important to understand financial performance of hospitals. Financial Analysis is useful for decision makers in a variety of settings. Consider the small proprietary hospitals, say, Physicians Clinic. The managers of such clinic need the information that financial statements provide. Attention to Financial Statements of healthcare Organizations can provide answers to questions like: How are they doing? What is their rate of profit? What is their solvency and liquidity position? What are their sources and application of funds? What is their Operational Efficiency? The researcher has studied Financial Statements of 5 Private Healthcare Organizations in Guwahati City.

Keywords: not-for-profit organizations, financial analysis, ratio analysis, profitability analysis, liquidity analysis, operational efficiency, capital structure analysis

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Authors: David Glew, Felix Thomas, Matthew Brooke-Peat

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Improving the thermal performance of homes is seen as an essential step in achieving climate change, fuel security, fuel poverty targets. One of the most effective thermal retrofits is to insulate solid walls. However, it has been observed that applying insulation to the internal face of solid walls reduces the surface temperature of the inner wall leaf, which may introduce condensation risk and may interrupt seasonal moisture accumulation and dissipation. This research quantifies the extent to which the risk of condensation and moisture accumulation in the wall increases (which can increase the risk of timber rot) following the installation of six different types of internal wall insulation. In so doing, it compares how risk is affected by both the thermal resistance, thickness, and breathability of the insulation. Thermal bridging, surface temperatures, condensation risk, and moisture accumulation are evaluated using hygrothermal simulation software before and after the thermal upgrades. The research finds that installing internal wall insulation will always introduce some risk of condensation and moisture. However, it identifies that risks were present prior to insulation and that breathable materials and insulation with lower resistance have lower risks than alternative insulation options. The implications of this may be that building standards that encourage the enhanced thermal performance of solid walls may be introducing moisture risks into homes.

Keywords: condensation risk, hygrothermal simulation, internal wall insulation, thermal bridging

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Authors: Jie Liu, Wei Wei, Chun-Ping Chang

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Using a sample of 110 countries over the period 1984-2013, this paper examines the impacts of country risks on choosing a specific exchange rate regime (first by utilizing the Levy-Yeyati and Sturzenegger de facto classification and then robusting it by the IMF de jure measurement) relative to other regimes via the panel multinomial logit approach. Empirical findings are as follows. First, in the full samples case we provide evidence that government is more likely to implement a flexible regime, but less likely to adopt a fixed regime, under a low level of composite and financial risk. Second, we find that Eurozone countries are more likely to choose a fixed exchange rate regime with a decrease in the level of country risk and favor a flexible regime in response to a shock from an increase of risk, which is opposite to non-Eurozone countries. Third, we note that high-risk countries are more likely to choose a fixed regime with a low level of composite and political risk in the government, but do not adjust the exchange rate regime as a shock absorber when facing economic and financial risks. It is interesting to see that those countries with relatively low risk display almost opposite results versus high-risk economies. Overall, we believe that it is critically important to account for political economy variables in a government’s exchange rate policy decisions, especially for country risks. All results are robust to the panel ordered probit model.

Keywords: country risk, political economy, exchange rate regimes, shock absorber

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Authors: Tuji Jemal Ahmed

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This paper is to provides a comprehensive review of current research works on foodborne illness and food safety, including the risks associated with foodborne illnesses, the latest research on food safety, and the mitigation strategies used to prevent and control foodborne illnesses. Foodborne illness is a major public health concern that affects millions of people every year. As foodborne illnesses have grown more common and dangerous in recent years, it is vital that we research and build upon methods to ensure food remains safe throughout consumption. Additionally, this paper will discuss future directions for food safety research, including emerging technologies, changes in regulations and standards, and collaborative efforts to improve food safety. The first section of the paper provides an overview of the risks of foodborne illness, including a definition of foodborne illness, the causes of foodborne illness, the types of foodborne illnesses, and high-risk foods for foodborne illness, Health Consequences of Foodborne Illness. The second section of the paper focuses on current research on food safety, including the role of regulatory agencies in food safety, food safety standards and guidelines, emerging food safety concerns, and advances in food safety technology. The third section of the paper explores mitigation strategies for foodborne illness, including preventative measures, hazard analysis and critical control points (HACCP), good manufacturing practices (GMPs), and training and education. Finally, this paper examines future directions for food safety research, including hurdle technologies and their impact on food safety, changes in food safety regulations and standards, collaborative efforts to improve food safety, and research gaps and areas for further exploration. In general, this work provides a comprehensive review of current research and future directions in food safety and understanding the risks associated with foodborne illness. The implications of the assessment for food safety and public health are discussed, as well as recommended for research scholars.

Keywords: food safety, foodborne illness, technologies, mitigation

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Authors: Frederik Schulte, Stefan Voß

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The adverse effects of air pollution on public health are an increasingly vital problem in planning for urban regions in many parts of the world. The issue is addressed from various angles and by distinct disciplines in research. Epidemiological studies model the relative increase of numerous diseases in response to an increment of different forms of air pollution. A significant share of air pollution in urban regions is related to transport emissions that are often measured and stored in emission inventories. Though, most approaches in transport planning, engineering, and operational design of transport activities are restricted to general emission limits for specific air pollutants and do not consider more nuanced exposure models. We conduct an extensive literature review on exposure models and emission inventories used to study the health impact of transport emissions. Furthermore, we review methods applied in both domains and use emission inventory data of transportation hubs such as ports, airports, and urban traffic for an in-depth analysis of public health impacts deploying medical exposure models. The results reveal specific urban health risks related to transport emissions that may improve urban planning for environmental health by providing insights in actual health effects instead of only referring to general emission limits.

Keywords: emission inventories, exposure models, transport emissions, urban health

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Authors: Volker Koch, Sigrid Swobodnik, Bernd M. Zunk

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The success of companies on globalized markets is significantly influenced by the performance of purchasing departments and, of course, the individuals employed as professional purchasers. Nonetheless, this is generally accepted in practice, in literature as well as in empirical research, only insufficient attention was given to the assessment of this relationship between the personality of professional purchasers and their individual performance. This paper aims to describe the relationship against the background of the 'Big Five Inventory'. Based on the five dimensions of a personality (openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism) a research model was designed. The research model divides the individual performance of professional purchasers into two major dimensions: operational and strategic. The operational dimension consists of the items 'cost', 'quality delivery' and 'flexibility'; the strategic dimension comprises the positions 'innovation', 'supplier satisfaction' as wells as 'purchasing and supply management integration in the organization'. To test the research model, a survey study was performed, and an online questionnaire was sent out to purchasing professionals in Austrian companies. The data collected from 78 responses was used to test the research model applying a group comparison. The comparison points out that there is (i) an influence of the purchasers’ personality on the individual performance of professional purchasers and (ii) a link between purchasers’ personality to a high or a low individual performance of professional purchasers. The findings of this study may help human resource managers during staff recruitment processes to identify the 'right performing personality' for an operational and/or a strategic position in purchasing departments.

Keywords: big five inventory, individual performance, personality, purchasing professionals

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Authors: Hamzeh Soltanali, Abbas Rohani, A. H. S. Garmabaki, Mohammad Hossein Abbaspour-Fard, Adithya Thaduri

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Toward continuous innovation and high complexity of technological systems, the automotive manufacturing industry is also under pressure to implement adequate management strategies regarding availability and productivity. In this context, evaluation of system’s performance by considering reliability, availability and maintainability (RAM) methodologies can constitute for resilient operation, identifying the bottlenecks of manufacturing process and optimization of maintenance actions. In this paper, RAM parameters are evaluated for improving the operational performance of the fluid filling process. To evaluate the RAM factors through the behavior of states defined for such process, a systematic decision framework was developed. The results of RAM analysis revealed that that the improving reliability and maintainability of main bottlenecks for each filling workstation need to be considered as a priority. The results could be useful to improve operational performance and sustainability of production process.

Keywords: automotive, performance, reliability, RAM, fluid filling process

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Authors: Babatunde Osabiya

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Cybersecurity has emerged as a pressing policy problem in recent years, affecting individuals, businesses, and governments worldwide. This research paper aims to critically review the literature on cybersecurity policy and apply policy theory to propose a policy approach that balances the freedom to access and use technology with the human rights risks and threats posed by cyber. Drawing on various credible sources, the paper examines the scale and seriousness of cyber threats, highlighting the growing threat posed by cybercriminals, hackers, and nation-states. The paper also identifies the key challenges facing policymakers, including the need for more significant investment in cybersecurity research and development and the importance of balancing the benefits of technological innovation with the risks to privacy, security, and human rights. To address these challenges, the paper proposes a policy approach emphasizing investing in cybersecurity research and development to maintain a technological edge over potential adversaries. This approach also highlights the need for greater collaboration between government, industry, and civil society to develop effective cybersecurity policies and practices that protect the rights and freedoms of people while mitigating the risks posed by cyber threats. This paper will contribute to the growing body of literature on cybersecurity policy and offers a policy framework for addressing this critical policy challenge.

Keywords: security risk, legal framework, cyber security and policy, national security

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Authors: Pedro Augusto Da Silva E Souza Miranda, Niloofar Jalali, Shweta Mistry

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BACKGROUND: Software developers utilize automated solutions to scrape users’ reviews to extract meaningful knowledge to identify problems (e.g., bugs, compatibility issues) and possible enhancements (e.g., users’ requests) to their solutions. However, most of these solutions do not consider the health risk aspects to users. Recent works have shed light on the importance of including health risk considerations in the development cycle of mHealth apps to prevent harm to its users. PROBLEM: The COVID-19 Pandemic in Canada (and World) is currently forcing physical distancing upon the general population. This new lifestyle made the usage of mHealth applications more essential than ever, with a projected market forecast of 332 billion dollars by 2025. However, this new insurgency in mHealth usage comes with possible risks to users’ health due to mHealth apps problems (e.g., wrong insulin dosage indication due to a UI error). OBJECTIVE: These works aim to raise awareness amongst mHealth developers of the importance of considering risks to users’ health within their development lifecycle. Moreover, this work also aims to help mHealth developers with a Proof-of-Concept (POC) solution to understand, process, and identify possible health risks to users of mHealth apps based on users’ reviews. METHODS: We conducted a mixed-method study design. We developed a crawler to mine the negative reviews from two samples of mHealth apps (my fitness, medisafe) from the Google Play store users. For each mHealth app, we performed the following steps: • The reviews are divided into two groups, before starting the COVID-19 (reviews’ submission date before 15 Feb 2019) and during the COVID-19 (reviews’ submission date starts from 16 Feb 2019 till Dec 2020). For each period, the Latent Dirichlet Allocation (LDA) topic model was used to identify the different clusters of reviews based on similar topics of review The topics before and during COVID-19 are compared, and the significant difference in frequency and severity of similar topics are identified. RESULTS: We successfully scraped, filtered, processed, and identified health-related topics in both qualitative and quantitative approaches. The results demonstrated the similarity between topics before and during the COVID-19.

Keywords: natural language processing (NLP), topic modeling, mHealth, COVID-19, software engineering, telemedicine, health risks

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Authors: Gokhan Kilic, Pelin Celik

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Structural health monitoring (SHM) is widely used in evaluating the state and health of membrane structures. In the past, in order to collect data and send it to a data collection unit on membrane structures, wire sensors had to be put as part of the SHM process. However, this study recommends using wireless sensors instead of traditional wire ones to construct an economical, useful, and easy-to-install membrane structure health monitoring system. Every wireless sensor uses a software translation program that is connected to the monitoring server. Operational neural networks (ONNs) have recently been developed to solve the shortcomings of convolutional neural networks (CNNs), such as the network's resemblance to the linear neuron model. The results of using ONNs for monitoring to evaluate the structural health of a membrane are presented in this work.

Keywords: wireless sensor network, non-destructive testing, operational neural networks, membrane structures, dynamic monitoring

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Authors: Reza Heidari, Maryam Amiri

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In a technological world, many countries have a tendency to fortifying their companies and technological infrastructures. Also, one of the most important requirements for developing technology is innovation, and then, all companies are struggling to consider innovation as a basic principle. Since, the expansion of a product need to combine different technologies, therefore, different innovative projects would be run in the firms as a base of technology development. In such an environment, enterprise resource planning (ERP) has special significance in order to develop and strengthen of innovations. In this article, an economic-probabilistic analysis was provided to perform an implementation project of ERP in the technological innovation (TI) based firms. The used model in this article assesses simultaneously both risk and economic analysis in view of the probability of each event that is jointly between economical approach and risk investigation approach. To provide an economic-probabilistic analysis of risk of the project, activities and milestones in the cash flow were extracted. Also, probability of occurrence of each of them was assessed. Since, Resources planning in an innovative firm is the object of this project. Therefore, we extracted various risks that are in relation with innovative project and then they were evaluated in the form of cash flow. This model, by considering risks affecting the project and the probability of each of them and assign them to the project's cash flow categories, presents an adjusted cash flow based on Net Present Value (NPV) and with probabilistic simulation approach. Indeed, this model presented economic analysis of the project based on risks-adjusted. Then, it measures NPV of the project, by concerning that these risks which have the most effect on technological innovation projects, and in the following measures probability associated with the NPV for each category. As a result of application of presented model in the information and communication technology (ICT) industry, provided an appropriate analysis of feasibility of the project from the point of view of cash flow based on risk impact on the project. Obtained results can be given to decision makers until they can practically have a systematically analysis of the possibility of the project with an economic approach and as moderated.

Keywords: cash flow categorization, economic evaluation, probabilistic, risk assessment, technological innovation

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Authors: Pratima Pokharel

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When sewer overflow due to rainfall in urban areas, this leads to public health risks when an individual is exposed to that contaminated floodwater. Nevertheless, it is still unclear the extent to which the infections pose a risk to public health. This study analyzed reported diarrheal cases by month and age in Bangkok, Thailand. The results showed that the cases are reported higher in the wet season than in the dry season. It was also found that in Bangkok, the probability of infection with diarrheal diseases in the wet season is higher for the age group between 15 to 44. However, the probability of infection is highest for kids under 5 years, but they are not influenced by wet weather. Further, this study introduced a vulnerability that leads to health risks from urban flooding. This study has found some vulnerability variables that contribute to health risks from flooding. Thus, for vulnerability analysis, the study has chosen two variables, economic status, and age, that contribute to health risk. Assuming that the people's economic status depends on the types of houses they are living in, the study shows the spatial distribution of economic status in the vulnerability maps. The vulnerability map result shows that people living in Sukhumvit have low vulnerability to health risks with respect to the types of houses they are living in. In addition, from age the probability of infection of diarrhea was analyzed. Moreover, a field survey was carried out to validate the vulnerability of people. It showed that health vulnerability depends on economic status, income level, and education. The result depicts that people with low income and poor living conditions are more vulnerable to health risks. Further, the study also carried out 1D Hydrodynamic Advection-Dispersion modelling with 2-year rainfall events to simulate the dispersion of fecal coliform concentration in the drainage network as well as 1D/2D Hydrodynamic model to simulate the overland flow. The 1D result represents higher concentrations for dry weather flows and a large dilution of concentration on the commencement of a rainfall event, resulting in a drop of the concentration due to runoff generated after rainfall, whereas the model produced flood depth, flood duration, and fecal coliform concentration maps, which were transferred to ArcGIS to produce hazard and risk maps. In addition, the study also simulates the 5-year and 10-year rainfall simulations to show the variation in health hazards and risks. It was found that even though the hazard coverage is very high with a 10-year rainfall events among three rainfall events, the risk was observed to be the same with a 5-year and 10-year rainfall events.

Keywords: urban flooding, risk, hazard, vulnerability, health risk, framework

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Authors: Kung-Jen Tu

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Many public housing properties developed by local governments in Taiwan in the 1980s have deteriorated severely as these rental apartment buildings aged. The lack of building maintainability considerations during project design phase as well as insufficient maintenance funds have made it difficult and costly for local governments to maintain and keep public housing properties in good shape. In order to assist the local governments in achieving and delivering sustainable public housing, this paper intends to present a developed design evaluation method to be used to evaluate the presented design schemes from property management and financial feasibility perspectives during project design phase of public housing projects. The design evaluation results, i.e. the property management and financial implications of presented design schemes that could occur later during the building operation and maintenance phase, will be reported to the client (the government) and design schemes revised consequently. It is proposed that the design evaluation be performed from two main perspectives: (1) Operation and property management perspective: Three criteria such as spatial appropriateness, people and vehicle circulation and control, property management working spaces are used to evaluate the ‘operation and PM effectiveness’ of a design scheme. (2) Financial feasibility perspective: Four types of financial analyses are performed to assess the long term financial feasibility of a presented design scheme, such as operational and rental income analysis, management fund analysis, regular operational and property management service expense analysis, capital expense analysis. The ongoing Chung-Li Public Housing Project developed by the Taoyuan City Government will be used as a case to demonstrate how the presented design evaluation method is implemented. The results of property management assessment as well as the annual operational and capital expenses of a proposed design scheme are presented.

Keywords: design evaluation method, management fund, operational and capital expenses, rental apartment buildings

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Authors: Nicula Valentin, Andrei Virginia

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Nowadays, the individual plays a central role in the state’s architecture. This is why the subjective dimension of the security represents a key concept in risk assessment. The paper’s scope is to emphasize the discrepancy between expert and lay evaluations of national security hazards, which is caused by key factors like emotions, personal experience, knowledge and media. Therefore, we have chosen to apply, using these two different groups of respondents, the Q-sort method, which reveals individual beliefs, attitudes, preferences hidden behind the subjects’ own way of prioritizing the risks they are confronted with. Our study’s conclusions are meant to unveil significant indicators needed to be taken into consideration by a state’s leadership in order to understand the social perception of national security hazards, to communicate better with the public opinion and prevent or mitigate the overestimation of the severity or probability of these dangers.

Keywords: risk perception, Q-sort method, national security hazards, individual beliefs

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Authors: H. Aburideh, Z.Tigrine, D. Ziou, S. Hout, R. Bellatreche, D. Belhout, Z. Belgroun, M. Abbas

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Faced with climate hazards in recent decades and the constant increase of the population, Algeria is making considerable efforts to provide water resources and water availability, both for its nascent industry, agriculture and for the drinking water supply of cities and arid region of the country. Following a remarkable worldwide technological breakthrough in seawater and brackish water desalination, known in recent years, the specialists have seen that the use of desalination of sea water in Algeria is a promising alternative as long as it has a coastline of 1200 km. Seawater is clean and virtually inexhaustible resource; mainly for population and industry that have high water consumption and are close to the sea. The purpose of this work is to present information on the number of sea water desalination stations and demineralization plants existing in Algeria. The constraints related to the operation of certain stations; those which are operational, those that are not operational as well as the seawater desalination program that was hired to cover 49 desalination plants across the country at the end of 2019 with the aim of increasing and diversifying water resources.

Keywords: desalination, water, membrane, demineralization

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Authors: Najeebah Almahmeed

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Risk Management is an evolving subject among organizations that include corporations, governments, non-governmental organizations, and not-for-profit corporations. In order to enhance awareness around the importance of Risk Management and make sure everyone is using it in their day-to-day job, the Risk Culture topic has emerged and gained importance not only in the Finance Sector but also in the National Oil Companies in Kuwait. Risk Culture can be defined as the shared beliefs, attitudes, and behaviors within a company that guide its approach to managing risks. It acts as a connecting force that links policies, procedures, and individuals, influencing how risks are understood and tackled through activities. In this research, benefits of Risk Culture are shared, guidelines are presented to promote a risk aware culture, and fully embed and enforce Risk-based processes and procedures. Moreover, this research demonstrates methodologies of measuring the Risk Culture using specific dimensions and clusters.

Keywords: clusters, dimensions, national oil companies, risk culture, risk management

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Authors: Mamiza Haq

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This paper examines the relevance of bank capital and charter value on bank insolvency and liquidity risks. Using an unbalanced panel of 2,111 unique local banks across 22 countries over 1998-2012, we find that both bank capital and charter value lower insolvency and liquidity risks, but this effect varies among conventional, Islamic, and Islamic-window banks. The risk constraining effect of bank capital becomes more prominent in the post 2007-2008 global financial crisis. Moreover, the relationships vary when conditioned upon other key bank-specific characteristics. For instance, the effect of capital on risk-reduction diminishes in the presence of high charter value for conventional-G7 and Islamic-window banks, during-GFC and pre-GFC period; respectively. Our findings have important policy implications related to bank safety. The results are robust to a range of robustness tests.

Keywords: bank capital, charter value, risk, financial crisis

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Authors: Wiriranai Brilliant Masara

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The African Peace and Security Architecture is widely celebrated and revered as a paragon of the will to address peace and security challenges in Africa. However, like any other institution, it is embedded with operational and institutional challenges that prevent it from effectively carrying out its mandate and turning goals into achieved results. The article examines the fundamental flaws and weaknesses of the African Peace and Security Architecture by focusing on its institutions, norms, instruments, and its relationship to Africa’s Regional Economic Communities. Therefore, the article reviews the flaws of the five elements of the African Peace and Security Architecture which are the Peace and Security Council, Panel of the Wise, Continental Early Warning System, African Standby Force, and Peace Fund.

Keywords: African Union, African Peace and Security Architecture, peace and security council, continental early warning system, African Standby Force, Panel of the Wise, Peace Fund

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Authors: Rajeshkumar U. Sambhe

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Large scale Indian manufacturers started implementing Six Sigma to their supply core to fulfill the endless need of high quality products. As well, they initiated encouraging their suppliers to apply the well-ascertain SS management practice and kept no resource for supplier enterprises, generally small midsized enterprises to think for the admittance of Six Sigma as a quality promotion drive. There are many issues to study for requisite changes before the introduction of Six Sigma in auto SMEs. This paper converges on impeding factors while implementing SS drive and also pinpoints the gains achieved through successful implementation. The result of this study suggest some operational guidelines for effective implementation of Six Sigma from evidences acquired through research questionnaire and interviews with industrial professionals, apportioned to assort auto sector mid-sized enterprises (MSEs) in India.

Keywords: indian automotive SMEs, quality management practices, six sigma imperatives, problems faced in six sigma implementation, benefits, some guidelines for implementation

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Authors: Muhammad Saleem

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Background: Inattentive food choices and engagement in excessive physical activities by male athletes can potentially lead to adverse health consequences. Objective: The aim was to ascertain the occurrence of risk factors associated with the Male Athlete Triad among young elite athletes in Pakistan. Methodology: In 2018, a cross-sectional study based on questionnaires was conducted at the Pakistan Sports Board. The study aimed to explore the risk factors related to the Male Athlete Triad in young elite athletes who were part of national training camps in major metropolitan areas. The study included proficient male elite athletes aged 18 to 25 years, capable of understanding the English questionnaire. The athletes completed a survey encompassing aspects like demographic information, educational background, Body Mass Index (BMI), sports involvement, and hours of participation. Additionally, they filled out the Eating Attitude Test-26 (EAT-26) and questionnaires assessing risks of amenorrhea and low bone mineral density. The prevalence of risk factors for each of the three components was individually evaluated. The collected data underwent analysis using SPSS-20, with descriptive statistics being applied. Results: The study comprised a sample of 90 elite athletes (mean age: 23.57 ± 2.37 years, mean BMI: 21.97 ± 1.90) engaged in various sports. The EAT-26 results indicated that 50% of athletes were at risk of developing an eating disorder. Moreover, 83.3% exhibited disordered eating behaviors that necessitated referral. Risks for amenorrhea were observed in 15% of the participants, and regarding low bone mineral density, notable risks were absent except for the consumption of caffeinated beverages, which was noted in 51.7% of participants. Conclusion: The study identified a significant prevalence of disordered eating risk among male elite athletes in Pakistan. However, the risks associated with amenorrhea and low bone mineral density were not a major concern in this particular group.

Keywords: Pakistan, osteoporosis, female athlete triad, bone mineral density, athlete, amenorrhea, eating disorders

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Authors: Alon Cohen, Jeffrey Kantor, Shalom Levy

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The use of the audit risk model in auditing has faced limitations and difficulties, leading auditors to rely on a conceptual level of its application. The qualitative approach to assessing risks has resulted in different risk assessments, affecting the quality of audits and decision-making on the adoption of CAATTs. This study aims to investigate risk factors impacting the implementation of the audit risk model and propose a complementary risk-based instrument (KRIs) to form substance risk judgments and mitigate against heightened risk of material misstatement (RMM). The study addresses the question of how risk factors impact the implementation of the audit risk model, improve risk judgments, and aid in the adoption of CAATTs. The study uses a three-stage scale development procedure involving a pretest and subsequent study with two independent samples. The pretest involves an exploratory factor analysis, while the subsequent study employs confirmatory factor analysis for construct validation. Additionally, the authors test the ability of the KRIs to predict audit efforts needed to mitigate against heightened RMM. Data was collected through two independent samples involving 767 participants. The collected data was analyzed using exploratory factor analysis and confirmatory factor analysis to assess scale validity and construct validation. The suggested KRIs, comprising two risk components and seventeen risk items, are found to have high predictive power in determining audit efforts needed to reduce RMM. The study validates the suggested KRIs as an effective instrument for risk assessment and decision-making on the adoption of CAATTs. This study contributes to the existing literature by implementing a holistic approach to risk assessment and providing a quantitative expression of assessed risks. It bridges the gap between intuitive risk evaluation and the theoretical domain, clarifying the mechanism of risk assessments. It also helps improve the uniformity and quality of risk assessments, aiding audit standard-setters in issuing updated guidelines on CAATT adoption. A few limitations and recommendations for future research should be mentioned. First, the process of developing the scale was conducted in the Israeli auditing market, which follows the International Standards on Auditing (ISAs). Although ISAs are adopted in European countries, for greater generalization, future studies could focus on other countries that adopt additional or local auditing standards. Second, this study revealed risk factors that have a material impact on the assessed risk. However, there could be additional risk factors that influence the assessment of the RMM. Therefore, future research could investigate other risk segments, such as operational and financial risks, to bring a broader generalizability to our results. Third, although the sample size in this study fits acceptable scale development procedures and enables drawing conclusions from the body of research, future research may develop standardized measures based on larger samples to reduce the generation of equivocal results and suggest an extended risk model.

Keywords: audit risk model, audit efforts, CAATTs adoption, key risk indicators, sustainability

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Authors: Liwen Wang, Yuting Chen, Tong Wu, Shaolei Hu

Abstract:

In order to enhance the security of critical financial infrastructure, this study carries out a transformation of the architecture of a financial trading terminal to a zero trust architecture (ZTA), constructs an active defense system for cybersecurity, improves the security level of trading services in the Internet environment, enhances the ability to prevent network attacks and unknown risks, and reduces the industry and security risks brought about by cybersecurity risks. This study introduces the SDP technology of ZTA, adapts and applies it to a financial trading terminal to achieve security optimization and fine-grained business grading control. The upgraded architecture of the trading terminal moves security protection forward to the user access layer, replaces VPN to optimize remote access, and significantly improves the security protection capability of Internet transactions. The study achieves 1. deep integration with the access control architecture of the transaction system; 2. no impact on the performance of terminals and gateways, and no perception of application system upgrades; 3. customized checklist and policy configuration; 4. introduction of industry-leading security technology such as single-packet authorization (SPA) and secondary authentication. This study carries out a successful application of ZTA in the field of financial trading and provides transformation ideas for other similar systems while improving the security level of financial transaction services in the Internet environment.

Keywords: zero trust, trading terminal, architecture, network security, cybersecurity

Procedia PDF Downloads 131

Authors: Won Il Jung, Gene Lee, Luis Rabelo

Abstract:

Since many weapon systems are getting more complex and diverse, various problems occur in terms of the acquisition cost, time, and performance limitation. As a matter of fact, the experiment execution in real world is costly, dangerous, and time-consuming to obtain Required Operational Characteristics (ROC) for a new weapon acquisition although enhancing the fidelity of experiment results. Also, until presently most of the research contained a large amount of assumptions so therefore a bias is present in the experiment results. At this moment, the new methodology is proposed to solve these problems without a variety of assumptions. ROC of the new weapon system is developed through the new methodology, which is a way to analyze big data generated by simulating various scenarios based on virtual and constructive models which are involving 6 Degrees of Freedom (6DoF). The new methodology enables us to identify unbiased ROC on new weapons by reducing assumptions and provide support in terms of the optimal weapon systems acquisition.

Keywords: big data, required operational characteristics (ROC), virtual and constructive models, weapon acquisition

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Authors: Z. Q. Zhang, Y. Zhang, D. L. Li

Abstract:

To overcome the some shortcomings associated with traditional flotation machines and columns in collophanite flotation, a flotation device was designed and fabricated in the laboratory. A multi-impeller pump with same function as a mechanical cell was used instead of the injection sparger and circulation pump in column flotation unit. The influence of main operational parameters of the device like feed flow rate, air flow rate and impellers’ speed on collophanite flotation was analyzed. Experiment results indicate that the influence of the operational parameters were significant on flotation recovery and grade of phosphate concentrate. The best operating conditions of the device were: feed flow rate 0.62 L/min, air flow rate 6.67 L/min and impellers speed 900 rpm. At these conditions, a phosphate concentrate assaying about 30.5% P₂O₅ and 1% MgO with a P₂O₅ recovery of about 81% was obtained from a Yuan'an phosphate ore sample containing about 22.30% P₂O₅ and 3.2% MgO.

Keywords: collophanite flotation, flotation columns, flotation machines, multi-impeller pump

Procedia PDF Downloads 238

Authors: Anders Troedsson

Abstract:

For us humans, risks are intimately linked to human vulnerabilities - where there is vulnerability, there is potentially insecurity, and risk. Reducing vulnerability through compensatory measures means increasing security and decreasing risk. The paper suggests that a meaningful way to approach the study of risks (including threats, assaults, crisis etc.), is to understand the vulnerabilities these external phenomena evoke in humans. As is argued, the basis of risk evaluation, as well as responses, is the more or less subjective perception by the individual person, or a group of persons, exposed to the external event or phenomena in question. This will be determined primarily by the vulnerability or vulnerabilities that the external factor are perceived to evoke. In this way, risk perception is primarily an inward dynamic, rather than an outward one. Therefore, a route towards an understanding of the perception of risks, is a closer scrutiny of the vulnerabilities which they can evoke, thereby approaching an understanding of what in the paper is called the essence of risk (including threat, assault etc.), or that which a certain perceived risk means to an individual or group of individuals. As a necessary basis for gauging the wide spectrum of potential risks and their meaning, the paper proposes a model of human vulnerabilities, drawing from i.a. a long tradition of needs theory. In order to account for the subjectivity factor, which mediates between the innate vulnerabilities on the one hand, and the event or phenomenon out there on the other hand, an ensuing ontological discussion about the timespace characteristics of risk/threat/assault as perceived by humans leads to the positing of two dimensions. These two dimensions are applied on the vulnerabilities, resulting in a modelling effort featuring four realms of vulnerabilities which are related to each other and together represent a dynamic whole. In approaching the problem of risk perception, the paper thus defines the relevant realms of vulnerabilities, depicting them as a dynamic whole. With reference to a substantial body of literature and a growing international policy trend since the 1990s, this model is put in the language of human security - a concept relevant not only for international security studies and policy, but also for other academic disciplines and spheres of human endeavor.

Keywords: human security, timespace, vulnerabilities, risk perception

Procedia PDF Downloads 306