Search results for: financial resilience

Authors: Henry Ataburo, Dominic Essuman, Emmanuel Kwabena Anin

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Recent trends of catastrophic events, such as the Covid-19 pandemic, the Suez Canal blockage, the Russia-Ukraine conflict, the Israel-Hamas conflict, and the climate change crisis, continue to devastate supply chains and the broader society. Prior authors have advocated for a simultaneous pursuit of resilience and sustainability as crucial for navigating these challenges. Nevertheless, the relationship between resilience and sustainability is a rather complex one: resilience and sustainability are considered unrelated, substitutes, or complements. Scholars also suggest that different firms prioritize resilience and sustainability differently for varied strategic reasons. However, we know little about whether, how, and when these choices produce different typologies of firms to explain differences in financial and market performance outcomes. This research draws inferences from the systems configuration approach to organizational fit to contend that a taxonomy of firms may emerge based on how firms configure resilience and environmental sustainability. The study further examines the effects of these taxonomies on financial and market performance in differing transportation disruption conditions. Resilience is operationalized as a firm’s ability to adjust current operations, structure, knowledge, and resources in response to disruptions, whereas environmental sustainability is operationalized as the extent to which a firm deploys resources judiciously and keeps the ecological impact of its operations to the barest minimum. Using primary data from 199 firms in Ghana and cluster analysis as an analytical tool, the study identifies four clusters of firms based on how they prioritize resilience and sustainability: Cluster 1 - "strong, moderate resilience, high sustainability firms," Cluster 2 - "sigh resilience, high sustainability firms," Cluster 3 - "high resilience, strong, moderate sustainability firms," and Cluster 4 - "weak, moderate resilience, strong, moderate sustainability firms". In addition, ANOVA and regression analysis revealed the following findings: Only clusters 1 and 2 were significantly associated with both market and financial performance. Under high transportation disruption conditions, cluster 1 firms excel better in market performance, whereas cluster 2 firms excel better in financial performance. Conversely, under low transportation disruption conditions, cluster 1 firms excel better in financial performance, whereas cluster 2 firms excel better in market performance. The study provides theoretical and empirical evidence of how resilience and environmental sustainability can be configured to achieve specific performance objectives under different disruption conditions.

Keywords: resilience, environmental sustainability, developing economy, transportation disruption

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Authors: Warda Ajaz

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This study uses the ‘Community Capitals Framework’ (CCF) to develop a community resilience index that can serve as a useful tool for measuring resilience of communities in diverse contexts and backgrounds. CCF is an important analytical tool to assess holistic community change. This framework identifies seven major types of community capitals: natural, cultural, human, social, political, financial and built, and claims that the communities that have been successful in supporting healthy sustainable community and economic development have paid attention to all these capitals. The framework, therefore, proposes to study the community development through identification of assets in these major capitals (stock), investment in these capitals (flow), and the interaction between these capitals. Capital based approaches have been extensively used to assess community resilience, especially in the context of natural disasters and extreme events. Therefore, this study identifies key indicators for estimating each of the seven capitals through an extensive literature review and then develops an index to calculate a community resilience score. The CCF-based community resilience index presents an innovative way of operationalizing the concept of community resilience and will contribute toward decision-relevant research regarding adaptation and mitigation of community vulnerabilities to climate change-induced, as well as other adverse events.

Keywords: adverse events, community capitals, community resilience, climate change, economic development, sustainability

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Authors: Xu Tao, Yilun Xu, Dingwei Xiang, Yaofei Sun

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Urban community is constitute the entire city and its management ‘cell’, let ‘cells’ with growth and self-regeneration capacity and persistence, to allow the city with infinite vigor and vitality of the source; with toughness community mankind's adaptation to the basic unit of social risk, toughness of the city from the community to create a point of building is urban toughness of top-down construction mode of supplement, is of positive significance on the toughness of the urban construction. Based on the basic concept of resilience, this paper reviews the research on the four main areas of the study of urban resilience (i.e., the engineering toughness, ecological resilience, economic resilience, and social resilience, etc.). Studies and comments and summarizes the basic characteristic and main content of the four kind of toughness. Based on, from the city - community level and community level for building community resilience, including the level of urban community and create a Unicom, inclusiveness and openness of the community; community-level lifted from the four angles of the engineering community toughness, ecological toughness, resilience, social resilience, mainly including enhanced the toughness of the infrastructure, green infrastructure of toughness, resilience, social network and social relations, building with a sense of belonging, inclusive, multicultural community. Finally, summarize and prospect the resilience of the community.

Keywords: resilience, community resilience, urban resilience, construction strategies

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Authors: K. Verlinden

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Being the first family member to study is challenging due to the lack of intergenerational support, financial challenges, etc. The often very deficit-oriented view of these first-generation students (FGS) is challenged by assuming that precisely these students have a high degree of resilience, which will be demonstrated by comparing individual resilience factors. First-generation students are disproportionately often found in courses of social work. Correspondingly, this study compares two samples from social work (FGS vs. non-FGS) with regard to certain determinants of resilience, such as grit, social support, self-efficacy, sense of coherence, and emotional intelligence. An online questionnaire was generated from valid psychological instruments and handed out to the sample. The results portray a double mediation model in which gender and being an FGS associate with lower levels of individual resources, which in then associate with social support. This tiered model supports the possibility that individual resources facilitate the recruitment and use of social support and perhaps other related social resources to better cope with academic challenges.

Keywords: resilience, first generation students, grit, self-efficacy

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Authors: M. Bevilacqua, F. E. Ciarapica, G. Marcucci

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Supply Chain Resilience has been broadly studied during the last decade, focusing the research on many aspects of Supply Chain performance. Consequently, different definitions of Supply Chain Resilience have been developed by the research community, drawing inspiration also from other fields of study such as ecology, sociology, psychology, economy et al. This way, the definitions so far developed in the extant literature are therefore very heterogeneous, and many authors have pointed out a lack of consensus in this field of analysis. The aim of this research is to find common points between these definitions, through the development of a framework of study: the Resilience Triangle. The Resilience Triangle is a tool developed in the field of civil engineering, with the objective of modeling the loss of resilience of a given structure during and after the occurrence of a disruption such as an earthquake. The Resilience Triangle is a simple yet powerful tool: in our opinion, it can summarize all the features that authors have captured in the Supply Chain Resilience definitions over the years. This research intends to recapitulate within this framework all these heterogeneities in Supply Chain Resilience research. After collecting a various number of Supply Chain Resilience definitions present in the extant literature, the methodology approach provides a taxonomy step with the scope of collecting and analyzing all the data gathered. The next step provides the comparison of the data obtained with the plotting of a disruption profile, in order to contextualize the Resilience Triangle in the Supply Chain context. The tool and the results developed in this research will allow to lay the foundation for future Supply Chain Resilience modeling and measurement work.

Keywords: supply chain resilience, resilience definition, supply chain resilience triangle

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Authors: Luke McGowan, David Pickernell, Martini Battisti

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In this paper, Adversity Triggers were explored through the lens of Organisational Resilience. Adversity Triggers are contextualized by temporal factors, thus, naturally aligning to Resilience literature. Resilience has been chosen as the theoretical framework as risk management approaches are often not geared towards providing meaningful responses to high-impact, low-probability events. Adversity Triggers and Organisational Resilience both consider temporal factors which enabled investigation of each phase of recovery. A systematic literature was employed to assess previous literature and define further areas of research. The systematic literature review method was chosen to catalogue and identify gaps in current literature.

Keywords: adversity triggers, crisis, extreme events, organisational resilience, resilience

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Authors: Alfredo R. Roa-Henriquez

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This paper is about organizational-level resilience and decision-making in the face of natural hazards. Research on resilience emerged to explain systems’ ability to absorb and recover in the midst of adversity and uncertainty from natural disasters, crises, and other disruptive events. While interest in resilience has accelerated, research multiplied, and the number of policies and implementations of resilience to natural hazards has increased over the last several years, mainly at the level of communities and regions, there has been a dearth of empirical work on resilience at the level of the firm. This paper uses empirical data and a sample selection model to test some hypotheses related to the firm’s dependence on critical resources, the sharing of resources and its economic resilience. The objective is to understand how the sharing of resources among organizations is related to economic resilience. Empirical results that are obtained from a sample of firms affected by Superstorm Sandy and Hurricane Harvey indicate that there is unobserved heterogeneity that explains the strategic behavior of firms in the post-disaster and that those firms that are more likely to resource share are also the ones that exhibit higher economic resilience. The impact of property damage on the sharing of resources and economic resilience is explored.

Keywords: economic resilience, resource sharing, critical resources, strategic management

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Authors: Cheila Cristina Leonardo Oliveira Gaioli, Fernanda Ludmilla Rossi Rocha, Sandra Cristina Pillon

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Resilience is a psychological process that facilitates the maintenance of health, developed in response to numerous existing stressors in daily life. Furthermore, resilience can be described as the ability which allows an individual or group to hold up well before unfavorable situations. This study aimed to identify nursing workers’ resilience at a psychiatric hospital in Brazil. This is an exploratory research with quantitative data approach. The sample consisted of 56 workers, using the Resilience Scale. Of the 56 subjects, 45 (80.4%) were women; 22 (39.2%) were 20- to 40-years-old and 30 (53.6%) were 41- to 60-years-old; 11 (19.6%) were nurses and 45 (80.4%) were technicians or nursing assistants. The results also showed that 50% of subjects showed a high resilience degree and 42.9% an average resilience degree. Thus, it was found that workers seek to develop protective factors in coping with a work environment that does not value the individual subjectivity and does not allow professional development, discouraging workers.

Keywords: health promotion, nursing, occupational health, resilience

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Authors: N. Taghinejad, F. Dortaj, N. Khodabandeh

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This research aimed at comparing resilience among male and female children with and without parental supervision in Bandar Abbas. The sample consists of 200 subjects selected through cluster sampling. The research method was comparative causal and Conner and Davidson’s questionnaire form resilience was used for data collection. Results indicated that there is no difference between children with and without parental supervision regarding their resilience capacity. These findings may be challenging and useful for psychologists, officials of children’s affairs and legislators.

Keywords: resilience, children , children with parental supervision, children without parental supervision

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Authors: Chunhua Ma

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Background: There is a relationship between cultural identity and psychological health. Resilience is an important factor of psychological health, and cultural identity will protect the resilience. The research showed that the cultural identity, resilience, and self-concordance of students from different cultures. It should be a theoretical basis to improve mental health of different nationalities students. And the role of resilience factors for adults’ cultural identity and self-concordance was deserve studied. Aims: The current study aimed to examine the relationship between cultural identity and self-concordance among Chinese academician from 3 minorities, postulating mediating by resilience. Methods: This study used cross-sectional and correlational design. Participants were 328 Chinese aged between 18 and 25 years. Data was collected via self-reports including both closed and opened questions. Results: Linear regression analysis controlling for age, gender, the result showed that: (a) Cultural identity was related to self-concordance, resilience was related to self-concordance and cultural identity was related to resilience, (b) Resilience mediated the link between cultural identity and self-concordance, respectively. Discussion: Our findings suggested that resilience and cultural identity are important factors in self-concordance. If minority college students realized the heterogeneous culture, it would alleviate their psychological conflict, stimulate their strength potential and improve their self-concordance.

Keywords: cultural identity, resilience, self-concordance, mediating effect

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Authors: Stephanie K. Douglas, Gordon R. Haley

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Organizations face increasing disruptions, changes, and uncertainties through the rapid shifts in the economy and business environment. A capacity for resilience is necessary for organizations to survive and thrive in such adverse conditions. Learning is an essential component of an organization's capability for building resilience. Strategic human resource management is a principal component of learning and organizational resilience. To achieve organizational resilience, human resource management strategies must support individual knowledge, skills, and ability development through organizational learning. This study aimed to contribute to the comprehensive knowledge of the relationship between strategic human resource management and organizational learning to build organizational resilience. The organizational learning dimensions of knowledge acquisition, knowledge distribution, knowledge interpretation, and organizational memory can be fostered through human resource management strategies and then aggregated to the organizational level to build resilience.

Keywords: human resource development, human resource management, organizational learning, organizational resilience

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Authors: Khushboo Ejaz

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Community Resilience to Violent Extremism gain importance in the post 9/11 scenario. Resilience is a word that came from the engineering domain. Prior to 9/11, this word community resilience has been used in disasters and natural hazards. The literature on Community Resilience has been published in different multiethnic and multi-religious communities. There is less data and research done on Pakistan’s Community resilience experience. This research is a case study; how local community showed resilience against violent extremism of Tehrik-e-Taliban Swat in the wake of Operation Rah-e- Raast. Qualitative research based on interviews and focus group discussions from male and female groups of different Tehsils of Swat has been carried out to highlight the Community Resilience to Violent Extremism of Tehrik- e- Taliban and Tehrik- e- Nifaz- e -Shariat- e-Muhamadi (TNSM) .NVivo software has been used for data analysis and highlighting all factors of Community Resilience to Violent extremism (CRVE) in Swat . Recommendations has been made in the end to suggest Civil Society Organizations, NGOs and government departments in order to facilitate and enhance community resilience of tribal and rural areas affected by violent elements in Pakistan. This study will fill the gap in literature related to CRVE policies in Pakistani context.

Keywords: community resilience, operation Rah -e Raast, counter extremism, swat, Pakistan

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Authors: Zhaoming Yang, Qi Xiang, Qian He, Michael Havbro Faber, Enrico Zio, Huai Su, Jinjun Zhang

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Resilience is one of the key factors for system safety assessment and optimization, and resilience studies of natural gas pipeline systems (NGPS), especially in terms of process descriptions, are still being explored. Based on the three main stages, which are function loss process, recovery process, and waiting process, the paper has built functions and models which are according to the practical characteristics of NGPS and mainly analyzes the characteristics of deterministic interruptions. The resilience of NGPS also considers the threshold of the system function or users' satisfaction. The outcomes, which quantify the resilience of NGPS in different evaluation views, can be combined with the max flow and shortest path methods, help with the optimization of extra gas supplies and gas routes as well as pipeline maintenance strategies, the quick analysis of disturbance effects and the improvement of NGPS resilience evaluation accuracy.

Keywords: natural gas pipeline system, resilience, process modeling, deterministic disturbance

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Authors: Melissa Anguah Nortey

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As populations around the globe continue to age rapidly in an era of increasing life expectancies, the financial wellbeing of older adults becomes crucial. This has led to an extensive discourse on financial literacy and its role in attaining financial wellbeing. In Ireland, the aging demographic presents both opportunities and challenges concerning financial literacy and wellbeing. In addition to increasing life expectancy, evolving pension systems make it imperative for older adults to manage their finances effectively to sustain their quality of life in later years. However, research and relevant financial reports indicate that financial literacy levels among older populations in Ireland lags behind other European countries. Against this backdrop, the current study seeks to identify the financial literacy needs of older adults required to attain wellbeing in older age. Financial wellbeing refers to the ability to confidently manage money and be in a position to meet current and future financial needs. In recent years, the importance of financial wellbeing has been recognized globally due to its significant impact on mental and physical health, relationships, and overall quality of life. In regards to such global recognition, the Sustainable Development Goals (SDGs) outline an ambitious agenda to achieve global prosperity by 2030 by meeting objectives such as eradicating extreme poverty (SDG 1) and ensuring good health and well-being (SDG3). To achieve financial wellbeing, the importance of financial literacy is underscored as a key factor. Research has shown that financial literacy and responsible financial behavior are positively associated with financial wellbeing in retirement and in older age. Older persons are more vulnerable to financial mistakes and fraud due to declining financial literacy, making it essential for them to possess a strong understanding of financial concepts. Studies highlight the benefits of financial literacy for older persons to include the ability to maintain financial resilience. Moreover, financial literacy contributes to the physical and mental well-being of older adults. Older persons however face challenges such as declining cognitive abilities and health factors like increased medical expenses, which can negatively impact their financial literacy levels and reduce financial resilience. To address these challenges, recommendations from extant studies encourage financial literacy programs tailored for older adults should consider their cognitive abilities and health factors. Efforts to increase financial literacy in Ireland was borne out of a need to fill an information gap in understanding financial literacy. In contrast to several Northern European nations, Ireland exhibits low levels of financial literacy. The National financial Literacy strategy in Ireland was launched late 2023 to help increase the financial literacy needs of Irish people. So far, the Department of Finance has conducted a stakeholder engagement process to gather insights on existing financial literacy initiatives in Ireland. Subsequently, based on the findings of this assessment and informed by international best practices, the Department will initiate the development of a national strategy for financial literacy. The main aim of this qualitative research is thus to find out what knowledge and skills people in Ireland need to ensure financial wellbeing into older age.

Keywords: financial literacy, financial wellbeing, Ireland, older persons

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Authors: Saba Harati, Nasrin Arian Parsa

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The current research was an attempt to investigate the effect of resilience on mental health and life satisfaction. In one Cross Sectional research, 287 (173 females and 114 males) students of Tehran University were participated their average age was 23.17 years old (SD=4.9). The instruments used for assessing the research variables included: Cutter and Davidson resilience scale (CD-RISC), the short form of the depression-anxiety-stress scale, and life satisfaction scale. The data analysis was done in the form of structural equation model. The results of Simultaneous Hierarchical Multiple Regression Analysis indicated that there was a significant mediating role of the negative emotions (depression, anxiety, and stress), in the relationship between the family resilience (p < 0.001) and satisfaction with life (p < 0.001). Resilience results in life satisfaction by reducing the emotional problems (or increasing the mental health level). The effect of the resilience variable on life satisfaction was indirect.

Keywords: resilience, negative emotion, mental health, life satisfaction

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Authors: Narvada Ramdhany, Reena Bhattu Babajee

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The 2007-2008 Global Financial Crisis which initiated in the US had a global outreach, impacting the financial and banking sectors of several economies; such as European countries, developing and emerging countries in Asia, Latin America and Africa. European countries represent one of the main sources of export earnings for Mauritius and given that Europe has been quite profoundly affected by the crisis, the Mauritian economy also could have been negatively affected. This study is being undertaken to see if the crisis had a spill-over effect on the Mauritian banking system. It will also enable to determine if the measures put in place to counteract the crisis by regulatory authorities have been effective. The study will be carried out on 17 banks and data will be collected over a time frame of seven years; with a pre-crisis period from 2005 to 2007 and a post-crisis period from 2009 to 2011. The impact of the crisis as such will be measured through the financial performance of the banks, using financial ratios and regression analysis. The results show that during the period concerned Mauritian banks have remained solvent and relatively stable. One of the main explanations put forward to explain the resilience of the banking sector to the crisis is that foreign exposure was relatively low. Another explanation put forward is that Mauritian banks normally transact mainly with prime borrowers unlike most the banks which were affected by the financial crisis.  

Keywords: global financial crisis, banking sector, financial performance, Mauritian banks

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Authors: Alireza Monzavi Chaleshtari, Mahnaz Aliakbari Dehkordi, Nazila Esmaeili, Ahmad Alipour, Amin Asadi Hieh

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Headache disorders are one of the most common disorders of the nervous system and are associated with suffering, disability, and financial costs for patients. Mindfulness as a lifestyle, in line with human nature, has the ability to affect the emotional system, i.e. thoughts, body sensations, raw emotions and action impulses of people. The aim of this study was to test the fit of structural model of mindfulness and severity of headache mediated by resilience and perfectionism in patients with migraine. Methods: The statistical population of this study included all patients with migraine referred to neurologists in Tehran in the spring and summer of 1401. The inclusion criteria were diagnosis of migraine by a neurologist, not having mental disorders or other physical diseases, and having at least a diploma. According to the number of research variables, 180 people were selected by convenience sampling method, which online answered the Ahvaz perfectionism questionnaire (AMQ), Connor and Davidson resilience questionnaire (CD-RISC), Ahvaz migraine headache questionnaire (APS) and 5-factor mindfulness questionnaire ((MAAS). Data were analyzed using structural equation modeling and Amos software. Results: The results showed that the direct pathways of mindfulness were not significant for severe headache (P <0.05), but other direct pathways - mindfulness to resilience, mindfulness to perfectionism, resilience to severe headache and perfectionism to severe headache), Was significant (P <0.01). After modifying and removing the non-significant paths, the final model fitted. Mediating variables Resilience and perfectionism mediated all paths of predictor variables to the criterion. Conclusion: According to the findings of the present study, mindfulness in migraine patients reduces the severity of headache by promoting resilience and reducing perfectionism.

Keywords: migraine, headache severity, mindfulness, resilience, perfectionism

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Authors: Elena Valionienė, Genutė Kalvaitienė

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The issue of resilience of an individual, an organisation, or an entire ecosystem of organisations has recently become an integral part of the education system, where the uncertainties that lead to societal development in the short term create economic, social, and psycho-emotional instability. The Maritime Transport Sector (MTS) is no exception, and the aim of the article is to model the possibilities of enhancing the professional, sociocultural, and psycho-emotional resilience of MTS specialists to proactively respond to crises caused by uncertainties. The research consists of theoretical model creation that helps to identify general maritime business resilience factors and critical success factors. This can develop high resilience and achieve business excellence in a highly volatile, uncertain, complex, and ambiguous (VUCA) environment.

Keywords: maritime transport sector, resilience, uncertainties, VUCA

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Authors: Mengmeng Liu, J. David Frost

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Interstate highway system within the Atlanta Perimeter plays an important role in residents’ daily life. The serious influence of Atlanta I-85 Collapses implies that transportation system in the region lacks a cohesive and comprehensive transportation plan. Therefore, disaster resilience analysis of the transportation system is necessary. Resilience is the system’s capability to persist or to maintain transportation services when exposed to changes or shocks. This paper analyzed the resilience of the whole transportation system within the Perimeter and see how removing interstates within the Perimeter will affect the resilience of the transportation system. The data used in the paper are Atlanta transportation networks and LEHD Origin-Destination Employment Statistics data. First, we calculate the traffic flow on each road section based on LEHD data assuming each trip travel along the shortest travel time paths. Second, we calculate the measure of resilience, which is flow-based connectivity and centrality of the transportation network, and see how they will change if we remove each section of interstates from the current transportation system. Finally, we get the resilience function curve of the interstates and identify the most resilient interstates section. The resilience analysis results show that the framework of calculation resilience is effective and can provide some useful information for the transportation planning and sustainability analysis of the transportation infrastructures.

Keywords: connectivity, interstate highway system, network analysis, resilience analysis

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Authors: Norbert W. Paul

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Since a number of years, scientific interest in human resilience is rapidly increasing especially in psychology and more recently and highly visible in neurobiological research. Concepts of resilience are regularly discussed in the light of liminal experiences and existential challenges in human life. Resilience research is providing both, explanatory models and strategies to promote or foster human resilience. Surprisingly, these approaches attracted little attention so far in philosophy in general and in ethics in particular. This is even more astonishing given the fact that the neurosciences as such have been and still are of major interest to philosophy and ethics and even brought about the specialized field of neuroethics, which, however, is not concerned with concepts of resilience, so far. As a result of the little attention given to the topic of resilience, the whole concept has to date been a philosophically under-theorized. This abstinence of ethics and philosophy in resilience research is lamentable because resilience as a concept as well as resilience interventions based on neurobiological findings do undoubtedly pose philosophical, social and ethical questions. In this paper, we will argue that particular notions of resilience are crossing the sometimes fine line between maintaining a person’s mental health despite the impact of severe psychological or physical adverse events and ethically more debatable discourses of enhancement. While we neither argue for or against enhancement nor re-interpret resilience research and interventions by subsuming them strategies of psychological and/or neuro-enhancement, we encourage those who see social or ethical problems with enhancement technologies should also take a closer look on resilience and the related neurobiological concepts. We will proceed in three steps. In our first step, we will describe the concept of resilience in general and its neurobiological study in particular. Here, we will point out some important differences in the way ‘resilience’ is conceptualized and how neurobiological research understands resilience. In what follows we will try to show that a one-sided concept of resilience – as it is often presented in neurobiological research on resilience – does pose social and ethical problems. Secondly, we will identify and explore the social and ethical challenges of (neurobiological) enhancement. In the last and final step of this paper, we will argue that a one-sided reading of resilience can be understood as latent form of enhancement in transition and poses ethical questions similar to those discussed in relation to other approaches to the biomedical enhancement of humans.

Keywords: resilience, neurosciences, epistemology, bioethics

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Authors: Vasiliki A. Tzora, Nikolaos D. Philippas

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The paper measures the financial literacy of youth in Greece derived from the examined aspects of financial knowledge, behaviours, and attitudes that high school students performed. The findings reveal that less than half of participant high school students have an acceptable level of financial literacy. Also, students who are in the top of their class cohort exhibit higher levels of financial literacy. We also find that the father’s education level has a significant effect on financial literacy. Students who keep records of their income and expenses are likely to show better levels of financial literacy than students who do not. Students’ perception/estimation of their parents’ income changes is also related to their levels of financial literacy. We conclude that financial education initiatives should be embedded in schools in order to embrace the young generation.

Keywords: financial literacy, financial knowledge, financial behaviour, financial attitude, financial wellbeing, 15-year-old students

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Authors: Rosita Kanapeckaite

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Every year, some candidates who enroll in Generolas Jonas Zemaitis Military Academy of Lithuania do not complete a basic seven weeks cadet course and leave the Academy. Experience in other countries shows that psychological resilience grit and intrinsic motivation can lead to better course completion results. We examined the psychological resilience grit and intrinsic motivation as predictors of better results among newcomers who participate in the Cadet Basic Training (CBT) course. Based on past research and theory of other countries' military academies, we expected that resilience grit, and intrinsic motivation would predict performance in the Cadet Basic Training course. Results of regression analyses revealed that resilience and grit can predict better course results, but intrinsic motivation can not predict retention. These findings suggest that resilience and grit assessment and training may prove valuable in enhancing performance and retention within military training environments.

Keywords: military, intrinsic motivation, grit, resilience

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Ethan Nikookar, Yalda Boroushaki, Larissa Statsenko, Jorge Ochoa Paniagua

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Given the serious impact that supply chain disruptions can have on a firm's bottom-line performance, both industry and academia are interested in supply chain resilience, a capability of the supply chain that enables it to cope with disruptions. To date, much of the research has focused on the antecedents of supply chain resilience. This line of research has suggested various firm-level capabilities that are associated with greater supply chain resilience. A consensus has emerged among researchers that supply chain flexibility holds the greatest potential to create resilience. Supply chain flexibility achieves resilience by creating readiness to respond to disruptions with little cost and time by means of reconfiguring supply chain resources to mitigate the impacts of the disruption. Decisions related to supply chain disruptions are made by supply chain managers; however, the role played by supply chain managers' reference networks has been overlooked in the supply chain resilience literature. This study aims to understand the impact of supply chain managers on their firms' supply chain resilience. Drawing on social capital theory and social network theory, this paper proposes a conceptual model to explore the role of supply chain managers in developing the resilience of supply chains. Our model posits that higher level of supply chain managers' embeddedness in their reference network is associated with increased resilience of their firms' supply chain. A reference network includes individuals from whom supply chain managers seek advice on supply chain related matters. The relationships between supply chain managers' embeddedness in reference network and supply chain resilience are mediated by supply chain flexibility.

Keywords: supply chain resilience, embeddedness, reference networks, social capitals

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Authors: Muhammedamin Hussen Saad, Geoffrey Haagler, Onno Omta, Gerben Van Der Velde

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Unfolding chaos and persistent disruptions pose threats to companies’ performance especially in vulnerable settings of SME’s particularly in developing countries. Attention for resilience research in the academic world has increased considerably during the last decade looking at the number of papers published. As we are interested in adding to the understanding of the foundation and development of the concept of resilience, we focus especially on structuring the literature of business resilience in those vulnerable settings. A well-structured systematic search & review procedure was deployed. First, we defined key search terms and applied these to multiple databases (Scopus, Web of Science, Google Scholar, Emerald, and Science Direct). To make our literature search more encompassing, we augmented with co-citation, reference checking including hand searching techniques. The paper offers (1) an overview of SMEs resilience literature from 2000 up to March 2017 comprising 88 articles, and (2) special attention, within that overview, to developing countries. This review concludes that resilience literature is very much diverse in definitions and its measurements, and is inconclusive about its influencing factors. Furthermore, resilience literature is based predominantly on research in the developed world. On the bases of how the concept resilience emerges from the literature we describe distinct features of resilience, give options to extend the theoretical bases of research into resilience and describe concrete ideas for further research.

Keywords: business resilience, systematic review, SMEs, developing countries

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Authors: Ida Bagus Made Putra Jandhana, Teuku Yuri M. Zagloel, Rahmat Nurchayo

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Having several crises that affect industrial sector performance in the past decades, decision makers should utilize measurement application that enables them to measure industrial resiliency more precisely. It provides not only a framework for the development of resilience measurement application, but also several theories for the concept building blocks, such as performance measurement management, and resilience engineering in real world environment. This research is a continuation of previously published paper on performance measurement in the industrial sector. Finally, this paper contributes an alternative performance measurement method in industrial sector based on resilience concept. Moreover, this research demonstrates how applicable the concept of resilience engineering is and its method of measurement.

Keywords: industrial, measurement, resilience, sector

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Authors: Hannah Rosenqvist, Fanny Guay

Abstract:

Critical infrastructure protection has been an important topic for several years. Programmes such as the European Programme for Critical Infrastructure Protection (EPCIP), Critical Infrastructure Warning Information Network (CIWIN) and the European Reference Network for Critical Infrastructure Protection (ENR-CIP) have been the pillars to the work done since 2006. However, measuring critical infrastructure resilience has not been an easy task. This has to do with the fact that the concept of resilience has several definitions and is applied in different domains such as engineering and social sciences. Since June 2015, the EU project IMPROVER has been focusing on developing a methodology for implementing a combination of societal, organizational and technological resilience concepts, in the hope to increase critical infrastructure resilience. For this paper, we performed research on how to include societal resilience as a form of measurement of the context of critical infrastructure resilience. Because one of the main purposes of critical infrastructure (CI) is to deliver services to the society, we believe that societal resilience is an important factor that should be considered when assessing the overall CI resilience. We found that existing methods for CI resilience assessment focus mainly on technical aspects and therefore that is was necessary to develop a resilience model that take social factors into account. The model developed within the project IMPROVER aims to include the community’s expectations of infrastructure operators as well as information sharing with the public and planning processes. By considering such aspects, the IMPROVER framework not only helps operators to increase the resilience of their infrastructures on the technical or organizational side, but aims to strengthen community resilience as a whole. This will further be achieved by taking interdependencies between critical infrastructures into consideration. The knowledge gained during this project will enrich current European policies and practices for improved disaster risk management. The framework for societal resilience analysis is based on three dimensions for societal resilience; coping capacity, adaptive capacity and transformative capacity which are capacities that have been recognized throughout a widespread literature review in the field. A set of indicators have been defined that describe a community’s maturity within these resilience dimensions. Further, the indicators are categorized into six community assets that need to be accessible and utilized in such a way that they allow responding to changes and unforeseen circumstances. We conclude that the societal resilience model developed within the project IMPROVER can give a good indication of the level of societal resilience to critical infrastructure operators.

Keywords: community resilience, critical infrastructure protection, critical infrastructure resilience, societal resilience

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Authors: Luan Vardari, Dena Arapi-Vardari

Abstract:

Financial stability is a critical component of economic growth and development, and it has been recognized as a key policy objective in many countries around the world. In the Western Balkans, financial stability has been a key issue in recent years, with a number of challenges facing the region, including high levels of public debt, weak banking systems, and economic volatility. Corporate finance, which refers to the financial management practices of firms, is an important factor that can impact financial stability. This paper aims to investigate corporate finance's impact on financial stability in Western Balkan countries. This study will use a mixed-methods approach to investigate the impact of corporate finance on financial stability in the Western Balkans. The study will begin with a comprehensive review of the existing literature on corporate finance and financial stability, focusing on the Western Balkan region. This will be followed by an empirical analysis of regional corporate finance practices using data from various industries and firms. The analysis will explore the relationship between corporate finance practices and financial stability, taking into account factors such as regulatory frameworks, economic conditions, and firm size. The results of the study are expected to provide insights into the impact of corporate finance on financial stability in the Western Balkans. Specifically, the study will identify the key corporate finance practices that contribute to financial stability in the region, as well as the challenges and obstacles that firms face in implementing effective corporate finance strategies. The study will also provide recommendations for policymakers and firms looking to enhance financial stability and resilience in the region.

Keywords: financial regulation, debt management, investment decisions, dividend policies, economic volatility, banking systems, public debt, prudent financial management, firm size, policy recommendations

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Authors: Fanny Guay

Abstract:

Building resilience, sustainable buildings, urbanization, climate change, resilient cities, are just a few examples of where the focus of research has been in the last few years. It is obvious that there is a need to rethink how we are building our cities and how we are renovating our existing buildings. However, the question remaining is how can we assure that we are building sustainable yet resilient cities? There are many aspects one can touch upon when discussing resilience in cities, but after the event of Grenfell in June 2017, it has become clear that fire resilience must be a priority. We define resilience as a holistic approach including communities, society and systems, focusing not only on resisting the effects of a disaster, but also how it will cope and recover from it. Cities are an example of such a system, where components such as buildings have an important role to play. A building on fire will have an impact on the community, the economy, the environment, and so the entire system. Therefore, we believe that fire and resilience go hand in hand when we discuss building resilient cities. This article aims at discussing the current state of the concept of fire resilience and suggests actions to support the built of more fire resilient buildings. Using the case of Grenfell and the fire safety regulations in the UK, we will briefly compare the fire regulations in other European countries, more precisely France, Germany and Denmark, to underline the difference and make some suggestions to increase fire resilience via regulation. For this research, we will also include other types of resilience such as technological resilience, discussing the structure of buildings itself, as well as community resilience, considering the role of communities in building resilience. Our findings demonstrate that to increase fire resilience, amending existing regulations might be necessary, for example, how we performed reaction to fire tests and how we classify building products. However, as we are looking at national regulations, we are only able to make general suggestions for improvement. Another finding of this research is that the capacity of the community to recover and adapt after a fire is also an essential factor. Fundamentally, fire resilience, technological resilience and community resilience are closely connected. Building resilient cities is not only about sustainable buildings or energy efficiency; it is about assuring that all the aspects of resilience are included when building or renovating buildings. We must ask ourselves questions as: Who are the users of this building? Where is the building located? What are the components of the building, how was it designed and which construction products have been used? If we want to have resilient cities, we must answer these basic questions and assure that basic factors such as fire resilience are included in our assessment.

Keywords: buildings, cities, fire, resilience

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Authors: Kholil, Laksanto Utomo

Abstract:

The food needs of the Indonesian people will continue increase year to year due to the increase of population growth. For ensuring food securityand and resilience, the government has developed a program food self-resilience village since 2006. Food resilience is a complex system, consisting of subsystem availability, distribution and consumption of the sufficiency of food consumed both in quantity and quality. Low access, and limited assets to food sources is the dominant factor vulnerable of food. Women have a major role in supporting the productive activities of the family to meet food sufficiency and resilience. The purpose of this paper is to discuss the model of food self-resilience village wich gender responsive by using a dynamic system model. Model will be developed into 3 level: family, vilage, and regency in accordance with the concept of village food resilience model wich has been developed by ministry of agriculture. Model development based on the results of experts discussion and field study. By some scenarios and simulation models we will able to develop appropriate policy strategies for family food resilience. The result of study show that food resilience was influenced by many factors: goverment policies, technology, human resource, and in the same time it will be a feed back for goverment policies and number of poor family.

Keywords: food availability, food sufficiency, gender, model dynamic, law enfrocement

Procedia PDF Downloads 509