Search results for: internal risks

Authors: Emma Carr, Bilal Aslam-Pervez, David Laraway

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Litigation against surgeons and hospitals continues to increase in Western countries. While verbal consent is all that is required legally, it has for a long time been considered that written consent offers proof of discussion and interaction between the surgeon and the patient. Inadequate consenting of patients continues in the United Kingdom leaving surgeons and Health Trusts open to litigation. We present a standardised consent form which improves patient autonomy and engagement. The General Medical Council recommends that all material risks relevant to the patient are discussed and recorded prior to undergoing surgery, regardless of how likely they are to occur. Current literature was reviewed to evaluate complications associated with surgical management of mandible fractures. Analysis of risks on 52 consent forms were analysed within the Glasgow OMFS department, leading to a procedure-specific form being designed and implemented. This audit showed that the documentation of risks on consent forms was extremely variable- with uncommon risks not being recorded. Interestingly, not a single consent form was found which highlighted all the risks associated with mandible fractures. Our re-audit data confirms 100% of risks being discussed when a procedure specific form is utilised. Our hope, is to introduce further forms for inclusion on the BAOMS website and peripheral distribution. The forms are quick and easy to print and leave more time for consultation with the patient. Whilst we are under no illusion that the forms may not decrease the incidence of intended litigation, we feel confident that they will decrease the chances of it being successful.

Keywords: consent, litigation, mandible fracture, surgery

Procedia PDF Downloads 162

Authors: Tio Novita Efriani

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Public sector organizations work in a complex and risky environment. Since the beginning of 2000s, the public sector has paid attention to the need for an effective risk management. The Indonesian public sector has also concerned about this issue and in 2008 it enacted the Government Regulation that gives mandate for the implementation of risk management in government organizations. This paper investigates risk management implementation in the Indonesian public sector organizations and the role of transformational leadership and internal audit activities. Data was collected via survey. A total of 202 effective responses (30% response rate) from employees in 34 government ministries were statistically analyzed by using Partial least square structural equation modelling (PLS-SEM) and the software was SmartPLS 3.0. All the constructs were lower order, except for the risk management implementation construct, which was treated as a second-order construct. A two-stage approach was employed in the analysis of the higher order component. The findings revealed that transformational leadership positively influence risk management implementation. The findings also found that the core and legitimate roles of internal audit in risk management positively affect the implementation of risk management. The final finding showed that internal auditing mediates a relationship between transformational leadership and risk management implementation. These results suggest that the implementation of risk management in the Indonesian public sector was significantly supported by internal auditors and leadership. The findings confirm the importance of transformational leadership and internal audit in the public sector risk management strategies.

Keywords: Indonesian public sector, internal audit, risk management, transformational leadership

Procedia PDF Downloads 171

Authors: K. Petcharaporn

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The external characteristics of tomatoes, such as freshness, color and size are typically used in quality control processes for tomatoes sorting. However, the internal mold infection of intact tomato cannot be sorted based on a visible assessment and destructive method alone. In this study, a non-destructive technique was used to predict the internal mold infection of intact tomatoes by using transmittance visible and near infrared (VIS-NIR) spectroscopy. Spectra for 200 samples contained 100 samples for normal tomatoes and 100 samples for mold infected tomatoes were acquired in the wavelength range between 665-955 nm. This data was used in conjunction with partial least squares-discriminant analysis (PLS-DA) method to generate a classification model for tomato quality between groups of internal mold infection of intact tomato samples. For this task, the data was split into two groups, 140 samples were used for a training set and 60 samples were used for a test set. The spectra of both normal and internally mold infected tomatoes showed different features in the visible wavelength range. Combined spectral pretreatments of standard normal variate transformation (SNV) and smoothing (Savitzky-Golay) gave the optimal calibration model in training set, 85.0% (63 out of 71 for the normal samples and 56 out of 69 for the internal mold samples). The classification accuracy of the best model on the test set was 91.7% (29 out of 29 for the normal samples and 26 out of 31 for the internal mold tomato samples). The results from this experiment showed that transmittance VIS-NIR spectroscopy can be used as a non-destructive technique to predict the internal mold infection of intact tomatoes.

Keywords: tomato, mold, quality, prediction, transmittance

Procedia PDF Downloads 340

Authors: K. Petcharaporn, N. Prathengjit

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The external characteristics of tomatoes, such as freshness, color and size are typically used in quality control processes for tomatoes sorting. However, the internal mold infection of intact tomato cannot be sorted based on a visible assessment and destructive method alone. In this study, a non-destructive technique was used to predict the internal mold infection of intact tomatoes by using transmittance visible and near infrared (VIS-NIR) spectroscopy. Spectra for 200 samples contained 100 samples for normal tomatoes and 100 samples for mold infected tomatoes were acquired in the wavelength range between 665-955 nm. This data was used in conjunction with partial least squares-discriminant analysis (PLS-DA) method to generate a classification model for tomato quality between groups of internal mold infection of intact tomato samples. For this task, the data was split into two groups, 140 samples were used for a training set and 60 samples were used for a test set. The spectra of both normal and internally mold infected tomatoes showed different features in the visible wavelength range. Combined spectral pretreatments of standard normal variate transformation (SNV) and smoothing (Savitzky-Golay) gave the optimal calibration model in training set, 85.0% (63 out of 71 for the normal samples and 56 out of 69 for the internal mold samples). The classification accuracy of the best model on the test set was 91.7% (29 out of 29 for the normal samples and 26 out of 31 for the internal mold tomato samples). The results from this experiment showed that transmittance VIS-NIR spectroscopy can be used as a non-destructive technique to predict the internal mold infection of intact tomatoes.

Keywords: tomato, mold, quality, prediction, transmittance

Procedia PDF Downloads 490

Authors: Dauda Ibrahim Adagye

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Effective internal control system in the bursary unit of tertiary educational institutions is geared toward achieving quality teaching, learning, and research environment and as well assist the management of the institutions, particularly when decisions are to be made. While internal control system exists in all institutions, the outlined objectives above are far from being achieved. The paper; therefore, assesses the effectiveness of internal control system in tertiary educational institutions in Nasarawa State, Nigeria with the specific focus on the Nasarawa state Polytechnic, Lafia. The study is survey; hence, a simple closed-ended questionnaire was developed and administered to a sample of twenty-seven (27) member staff from the Bursary and the internal audit unit of the Nasarawa State Polytechnic, Lafia to obtain data for analysis purposes and to test the study hypothesis. Responses from the questionnaire were analyzed using a simple percentage and chi-square. Findings shows that the right people are not assigned to the right job in the department, budget, and management accounting were never used in the institution’s operations and checking of subordinate by their superior officers is not regular. This renders the current internal control structure of the Polytechnic as ineffective and weak. The paper therefore, recommends that: transparency should be seen as significant, as the institution work toward meeting its objectives, therefore, it means that the right staff is assigned to the right job and regular checking of the subordinates by their ensued superiors.

Keywords: internal control, tertiary educational intuitions, efficiency

Procedia PDF Downloads 171

Authors: Tasneem Firdous Islam, G. D. Kedar

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The aim of this paper is to study the effect of internal heat generation in a transient infinitely long annular cylinder subjected to hygrothermal loadings. The linear dependence theory of moisture and temperature is derived based on Dufour and Soret effect. The meticulous solutions of temperature, moisture, and thermal stresses are procured by using the Hankel transform technique. The influence of the internal heat source on the radial aspect is examined for coupled and uncoupled cases. In the present study, the composite material T300/5208 is considered, and the coupled and uncoupled cases are analyzed. The results obtained are computed numerically and illustrated graphically.

Keywords: temperature, moisture, hygrothermoelasticity, internal heat generation, annular cylinder

Procedia PDF Downloads 86

Authors: Negar Ganjouhaghighi, Amirali Dolatshahi

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The origin of most risks of a mega project usually takes place in the phases before closing the contract. As a practical point of view, using project risk management techniques for preparing a proposal is not a total solution for managing the risks of a contract. The objective of this paper is to cover all those activities associated with risk management of a mega project sale’s processes; from entrance to a new market to awarding activities and the review of contract performance. In this study, the risk management happens in six consecutive steps that are divided into three distinct but interdependent phases upstream of the award of the contract: pre-tendering, tendering and closing. In the first step, by preparing standard market risk report, risks of the new market are identified. The next step is the bid or no bid decision making based on the previous gathered data. During the next three steps in tendering phase, project risk management techniques are applied for determining how much contingency reserve must be added or reduced to the estimated cost in order to put the residual risk to an acceptable level. Finally, the last step which happens in closing phase would be an overview of the project risks and final clarification of residual risks. The sales experience of more than 20,000 MW turn-key power plant projects alongside this framework, are used to develop a software that assists the sales team to have a better project risk management.

Keywords: project marketing, risk management, tendering, project management, turn-key projects

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Authors: Jingde Li, Hong Hao

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Recent oil and gas accidents have reminded us the severe consequences of gas explosion on structure damage and financial loss. In order to protect the structures and personnel, engineers and researchers have been working on numerous different explosion mitigation methods. Amongst, venting is the most economical approach to mitigate gas explosion overpressure. In this paper, venting is used as the overpressure alleviation method. A theoretical method and a numerical technique are presented to predict the internal and external pressure from vented gas explosion in a large enclosure. Under idealized conditions, a number of experiments are used to calibrate the accuracy of the theoretically calculated data. A good agreement between the theoretical results and experimental data is seen. However, for realistic scenarios, the theoretical method over-estimates internal pressures and is incapable of predicting external pressures. Therefore, a CFD simulation procedure is proposed in this study to estimate both the internal and external overpressure from a large-scale vented explosion. Satisfactory agreement between CFD simulation results and experimental data is achieved.

Keywords: vented gas explosion, internal pressure, external pressure, CFD simulation, FLACS, ANSYS Fluent

Procedia PDF Downloads 135

Authors: V. Polenta, S. D. Garvey, D. Chronopoulos, A. C. Long, H. P. Morvan

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A parametric study on circular thin-walled pipes subjected to pure bending is performed. Both straight and curved pipes are considered. Ratio D/t, initial pipe curvature and internal pressure are the parameters varying in the analyses. The study is mainly FEA-based. It is found that negative curvatures (opposite to bending moment) considerably increase stiffness and buckling limit of the pipe when no internal pressure is acting and, similarly, positive curvatures decrease the stiffness and buckling limit. For internal pressurised pipes the effects of initial pipe curvature are less relevant. Results show that this phenomenon is in relationship with the cross-section deformation due to bending moment, which undergoes relevant ovalisation for no pressurised pipes and little ovalisation for pressurised pipes.

Keywords: buckling, curved pipes, internal pressure, ovalisation, pure bending, thin-walled pipes

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Authors: J. Santos, A. Gomes, G. Goncalves

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Organizations have increased the debate on the importance of symbolic aspects need to humanize, based on trust. A strong connection with the cultural guidance is key to determine the success of any company since it guarantees its recognition and increased productivity. This way, the quality of an organization relies essentially on its collaborators; on the way, they feel the company as their own. The changes imposed on public institutions try to fit some management practices of the private sector, to the public organizations. Currently, all efforts are aimed to increase competitiveness and promoting a better organizational performance, which leads to an increased the importance of human assets in organizations. A particular interest is the internal marketing since it has a relevant role in the development of employees. This research aimed to describe and identify how internal marketing contributes to explain organizational commitment. A quantitative analysis was done with a sample of 600 workers from public organizations, collected through a questionnaire composed of two scales that allowed the analysis of each of the constructs. The results show explanatory contribution of internal marketing practices on affective and normative commitment, through written information. By the results, workers are committed to the organizations.

Keywords: internal marketing, organizational commitment, public institutions, Portuguese

Procedia PDF Downloads 211

Authors: Chia-Ching Tsai

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In the literature, the positive effect of service co-recovery has been evidenced, and which customers’ attribution is the key successful factor has also been indicated. There is also literature investigating on initiation of co-recovery for finding out the superior way to co-recovery, and indicating co-recovery initiated by employees causes better effect of co-recovery. This research postulates the consequences of co-recovery by different initiators affect customers’ attribution and the resultant results. Thus, this research uses a 3x2 factorial design to investigate the impact of initiator of co-recovery and consequence of co-recovery on customers’ attribution and post-recovery satisfaction. The results show initiation of co-recovery has a significant influence on internal attribution, and the employee initiator causes the highest internal attribution. The consequences of co-recovery interact with initiators of co-recovery on internal attribution significantly. Moreover, internal attribution significantly affects post-recovery satisfaction.

Keywords: service co-recovery, initiation of co-recovery, attribution, post-recovery satisfaction

Procedia PDF Downloads 238

Authors: Roman Kulikov, Svetlana Kolesnikova

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Last decade Cloud Computing technologies have been rapidly becoming ubiquitous. Each year more and more organizations, corporations, internet services and social networks trust their business sensitive information to Public Cloud. The data storage in Public Cloud is protected by security mechanisms such as firewalls, cryptography algorithms, backups, etc.. In this way, however, only outsider attacks can be prevented, whereas virtualization tools can be easily compromised by insider. The protection of Public Cloud’s critical elements from internal intruder remains extremely challenging. A hypervisor, also called a virtual machine manager, is a program that allows multiple operating systems (OS) to share a single hardware processor in Cloud Computing. One of the hypervisor's functions is to enforce access control policies. Furthermore, it prevents guest OS from disrupting each other and from accessing each other's memory or disk space. Hypervisor is the one of the most critical and vulnerable elements in Cloud Computing infrastructure. Nevertheless, it has been poorly protected from being compromised by insider. By exploiting certain vulnerabilities, privilege escalation can be easily achieved in insider attacks on hypervisor. In this way, an internal intruder, who has compromised one process, is able to gain control of the entire virtual machine. Thereafter, the consequences of insider attacks in Public Cloud might be more catastrophic and significant to virtual tools and sensitive data than of outsider attacks. So far, almost no preventive security countermeasures have been developed. There has been little attention paid for developing models to assist risks mitigation strategies. In this paper formal model of insider attacks on hypervisor is designed. Our analysis identifies critical hypervisor`s vulnerabilities that can be easily compromised by internal intruder. Consequently, possible conditions for successful attacks implementation are uncovered. Hence, development of preventive security countermeasures can be improved on the basis of the proposed model.

Keywords: insider attack, public cloud, cloud computing, hypervisor

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Authors: Jack Mason, Ahmad Pourmovhed

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This paper will discuss the advantages and disadvantages of the internal combustion engine when compared to different types of electric vehicles. The Internal Combustion Engine (ICE)'s overall cost, environmental impact, and usability will all be compared to different types of Electric Vehicles (EVs) including Battery Electric Vehicles (BEVs) and Hydrogen Fuel Cell Electric Vehicles (FCEVs). Also, the ways to solve the issues of the problems each vehicle presents will be discussed.

Keywords: interal combustion engine, battery electric vehicle, fuel cell electric vehicle, emissions

Procedia PDF Downloads 145

Authors: Chun-Ying Lee, Kuan-Hui Cheng, Mei-Wen Wu

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The nickel-manganese (Ni-Mn) alloy coating prepared from DC electrodeposition process in sulphamate bath was studied. The effects of process parameters, such as current density and electrolyte composition, on the cathodic current efficiency, microstructure, internal stress and mechanical properties were investigated. Because of its crucial effect on the application to the electroforming of microelectronic components, the development of low internal stress coating with high leveling power was emphasized. It was found that both the coating’s manganese content and the cathodic current efficiency increased with the raise in current density. In addition, the internal stress of the deposited coating showed compressive nature at low current densities while changed to tensile one at higher current densities. Moreover, the metallographic observation, X-ray diffraction measurement, transmission electron microscope (TEM) examination, and polarization curve measurement were conducted. It was found that the Ni-Mn coating consisted of nano-sized columnar grains and the maximum hardness of the coating was associated with (111) preferred orientation in the microstructure. The grain size was refined along with the increase in the manganese content of the coating, which accordingly, raised its hardness and mechanical tensile strength. In summary, the Ni-Mn coating prepared at lower current density of 1-2 A/dm2 had low internal stress, high leveling power, and better corrosion resistance.

Keywords: Ni-Mn coating, DC plating, internal stress, leveling power

Procedia PDF Downloads 339

Authors: Yousef S. Al-Othman

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The growth and expansion of the industrial facilities comes proportional to the market increasing demand of products and services. Furthermore, raw material producers such as oil companies usually undergo massive revamping projects to maintain a synchronized supply. These revamping projects are usually delivered through challenging construction projects held and associated with daily site risks related to the construction process. Henceforth, a case study related to these risks and corresponding on-spot corrective measurements has been made on a certain number of construction project contractors at Kuwait Oil Company (KOC) to derive the benefits and overall effectiveness of the on-spot corrective measurements during the construction phase of a project, and how would the same help in avoiding major incidents, ensuring a smooth, cost effective and on time delivery of the project. Findings of this case study shall have an added value to the overall risk management process by minimizing the daily site risks that may affect the project lead time, resulting in an undisturbed on-site construction process.

Keywords: oil and gas, risk management, construction projects, project lead time

Procedia PDF Downloads 83

Authors: Onyekachi Onwudike, Russell Lock, Iain Phillips

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The variability that exists across governments, her departments and the provisioning of services has been areas of concern in the E-Government domain. There is a need for reuse and integration across government departments which are accompanied by varying degrees of risks and threats. There is also the need for assessment, prevention, preparation, response and recovery when dealing with these risks or threats. The ability of a government to cope with the emerging changes that occur within it is known as resilience. In order to forge ahead with concerted efforts to manage reuse and integration induced risks or threats to governments, the ambiguities contained within resilience must be addressed. Enhancing resilience in the E-Government domain is synonymous with reducing risks governments face with provisioning of services as well as reuse of components across departments. Therefore, it can be said that resilience is responsible for the reduction in government’s vulnerability to changes. In this paper, we present the use of the ontology to measure the resilience of governments. This ontology is made up of a well-defined construct for the taxonomy of resilience. A specific class known as ‘Resilience Requirements’ is added to the ontology. This class embraces the concept of resilience into the E-Government domain ontology. Considering that the E-Government domain is a highly complex one made up of different departments offering different services, the reliability and resilience of the E-Government domain have become more complex and critical to understand. We present questions that can help a government access how prepared they are in the face of risks and what steps can be taken to recover from them. These questions can be asked with the use of queries. The ontology focuses on developing a case study section that is used to explore ways in which government departments can become resilient to the different kinds of risks and threats they may face. A collection of resilience tools and resources have been developed in our ontology to encourage governments to take steps to prepare for emergencies and risks that a government may face with the integration of departments and reuse of components across government departments. To achieve this, the ontology has been extended by rules. We present two tools for understanding resilience in the E-Government domain as a risk analysis target and the output of these tools when applied to resilience in the E-Government domain. We introduce the classification of resilience using the defined taxonomy and modelling of existent relationships based on the defined taxonomy. The ontology is constructed on formal theory and it provides a semantic reference framework for the concept of resilience. Key terms which fall under the purview of resilience with respect to E-Governments are defined. Terms are made explicit and the relationships that exist between risks and resilience are made explicit. The overall aim of the ontology is to use it within standards that would be followed by all governments for government-based resilience measures.

Keywords: E-Government, Ontology, Relationships, Resilience, Risks, Threats

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Authors: Elisabeth Maidl

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The interdependence of climate change and natural hazard goes along with large uncertainties regarding future risks. Regional stakeholders, experts in natural hazards management and scientists have specific knowledge, resp. mental models on such risks. This diversity of views makes it difficult to find common and broadly accepted prevention measures. If the specific knowledge of these types of actors is shared in an interactive knowledge production process, this enables a broader and common understanding of complex risks and allows to agree on long-term solution strategies. Previous studies on mental models confirm that actors with specific vulnerabilities perceive different aspects of a topic and accordingly prefer different measures. In bringing these perspectives together, there is the potential to reduce uncertainty and to close blind spots in solution finding. However, studies that examine the mental models of regional actors on future concrete mass movement risks are lacking so far. The project tests and evaluates the feasibility of knowledge co-creation for the anticipatory prevention of climate change-induced mass movement risks in the Alps. As a key element, mental models of the three included groups of actors are compared. Being integrated into the research program Climate Change Impacts on Alpine Mass Movements (CCAMM2), this project is carried out in two Swiss mountain regions. The project is structured in four phases: 1) the preparatory phase, in which the participants are identified, 2) the baseline phase, in which qualitative interviews and a quantitative pre-survey are conducted with actors 3) the knowledge-co-creation phase, in which actors have a moderated exchange meeting, and a participatory modelling workshop on specific risks in the region, and 4) finally a public information event. Results show that participants' mental models are based on the place of origin, profession, believes, values, which results in narratives on climate change and hazard risks. Further, the more intensively participants interact with each other, the more likely is that they change their views. This provides empirical evidence on how changes in opinions and mindsets can be induced and fostered.

Keywords: climate change, knowledge-co-creation, participatory process, natural hazard risks

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Authors: G. A. Gevorgyan, K. A. Ghazaryan, T. H. Derdzyan

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The heavy metal pollution of the soils around the mining area near Shamlugh town and related risks to human health were assessed. The investigations showed that the soils were polluted with heavy metals that can be ranked by anthropogenic pollution degree as follows: Cu>Pb>As>Co>Ni>Zn. The main sources of the anthropogenic metal pollution of the soils were the copper mining area near Shamlugh town, the Chochkan tailings storage facility and the trucks transferring are from the mining area. Copper pollution degree in some observation sites was unallowable for agricultural production. The total non-carcinogenic chronic hazard index (THI) values in some places, including observation sites in Shamlugh town, were above the safe level (THI<1) for children living in this territory. Although the highest heavy metal enrichment degree in the soils was registered in case of copper, the highest health risks to humans especially children were posed by cobalt which is explained by the fact that heavy metals have different toxicity levels and penetration characteristics.

Keywords: Armenia, copper mine, heavy metal pollution of soil, health risks

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Authors: C. V. Pietreanu, S. E. Zaharia, C. Dinu

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Hazard assessment and risks quantification are key components for estimating the impact of existing regulations. But since regulatory compliance cannot cover all risks in aviation, the authors point out that by studying causal factors and eliminating uncertainty, an accurate analysis can be outlined. The research debuts by making delimitations on notions, as confusion on the terms over time has reflected in less rigorous analysis. Throughout this paper, it will be emphasized the fact that the variation in human performance and organizational factors represent the biggest threat from an operational perspective. Therefore, advanced risk assessment methods analyzed by the authors aim to understand vulnerabilities of the system given by a nonlinear behavior. Ultimately, the mathematical modeling of existing hazards and risks by eliminating uncertainty implies establishing an optimal solution (i.e. risk minimization).

Keywords: control, human factor, optimization, risk management, uncertainty

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Authors: Daniela Pellin, Wilson Engelmann

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Brazil has sought to accelerate your development through technology and innovation as a response to the global influences, which has received in internal management practices. For this, it had edited the Brazilian Law of Innovation 13.243/2016. However observing the Law overestimated economic aspects the respective application will not consider the stakeholders and the technological risks because there is no legal treatment. The economic exploitation and the technological risks must be controlled by limits of democratic system to find better social development to contribute with the economics agents for making decision to conform with global directions. The research understands this is a problem to face given the social particularities of the country because there has been the literal import of the North American Triple Helix Theory consolidated in developed countries and the negative consequences when applied in developing countries. Because of this symptomatic scenario, it is necessary to create adjustment to conduct the management of the law besides social democratic interests to increase the country development. For this, therefore, the Government will have to adopt some conducts promoting side by side with universities, civil society and companies, informational transparency, catch of partnerships, create a Confort Letter document for preparation to ensure the operation, joint elaboration of a Manual of Good Practices, make accountability and data dissemination. Also the Universities must promote informational transparency, drawing up partnership contracts and generating revenue, development of information. In addition, the civil society must do data analysis about proposals received for discussing to give opinion related. At the end, companies have to give public and transparent information about investments and economic benefits, risks and innovation manufactured. The research intends as a general objective to demonstrate that the efficiency of the propeller deployment will be possible if the innovative decision-making process goes through the institutional logic. As specific objectives, the American influence must undergo some modifications to better suit the economic-legal incentives to potentiate the development of the social system. The hypothesis points to institutional model for application to the legal system can be elaborated based on emerging characteristics of the country, in such a way that technological risks can be foreseen and there will be global conformity with attention to the full development of society as proposed by the researchers.The method of approach will be the systemic-constructivist with bibliographical review, data collection and analysis with the construction of the institutional and democratic model for the management of the Law.

Keywords: development, governance of law, institutionalization, triple helix

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Authors: Ellis Kofi Akwaa-Sekyi, Jordi Moreno Gené

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Managerial actions which negatively profile banks and impair corporate reputation are addressed through effective internal control systems. Disregard for acceptable standards and procedures for granting credit have affected bank loan portfolios and could be cited for the crises in some European countries. The study intends to determine the effectiveness of internal control systems, investigate whether perceived agency problems exist on the part of board members and to establish the relationship between internal controls and credit risk among listed banks in the European Union. Drawing theoretical support from the behavioural compliance and agency theories, about seventeen internal control variables (drawn from the revised COSO framework), bank-specific, country, stock market and macro-economic variables will be involved in the study. A purely quantitative approach will be employed to model internal control variables covering the control environment, risk management, control activities, information and communication and monitoring. Panel data from 2005-2014 on listed banks from 28 European Union countries will be used for the study. Hypotheses will be tested and the Generalized Least Squares (GLS) regression will be run to establish the relationship between dependent and independent variables. The Hausman test will be used to select whether random or fixed effect model will be used. It is expected that listed banks will have sound internal control systems but their effectiveness cannot be confirmed. A perceived agency problem on the part of the board of directors is expected to be confirmed. The study expects significant effect of internal controls on credit risk. The study will uncover another perspective of internal controls as not only an operational risk issue but credit risk too. Banks will be cautious that observing effective internal control systems is an ethical and socially responsible act since the collapse (crisis) of financial institutions as a result of excessive default is a major contagion. This study deviates from the usual primary data approach to measuring internal control variables and rather models internal control variables in a quantitative approach for the panel data. Thus a grey area in approaching the revised COSO framework for internal controls is opened for further research. Most bank failures and crises could be averted if effective internal control systems are religiously adhered to.

Keywords: agency theory, credit risk, internal controls, revised COSO framework

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Authors: Morteza Pourazar, Fatemeh Mirakhori, Fazlolah Bagherzadeh, Rasool Hemayattalab

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The purpose of study was to examine the effects of external and internal focus of attention in the motor learning of children with cerebral palsy. The study involved 30 boys (7 to 12 years old) with CP type 1 who practiced throwing beanbags. The participants were randomly assigned to the internal focus, external focus, and control groups, and performed six blocks of 10-trial with attentional focus reminders during a practice phase and no reminders during retention and transfer tests. Analysis of variance (ANOVA) with repeated measures on the last factor was used. The results show that significant main effects were found for time and group. However, the interaction of time and group was not significant. Retention scores were significantly higher for the external focus group. The external focus group performed better than other groups; however, the internal focus and control groups’ performance did not differ. The study concluded that motor skills in Spastic Hemiparetic Cerebral Palsy (SHCP) children could be enhanced by external attention.

Keywords: cerebral palsy, external attention, internal attention, throwing task

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Authors: Laura Ramona Nae

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The issue of risks faced by companies providing tourist and hotel services in the HoReCa field, related to the goods belonging to consumer tourists left in hotel storage, has acquired a new dimension in the context of the economic and geo-political influences that have recently intervened at the global level. Thus, hoteliers and not only had to create contractual mechanisms regarding the risks and to protect the businesses in this field of activity. This situation has led to a reassessment of the importance of insurance, in particular with regard to hotel liability insurance-premises liability, safety, and security of goods. Interpretation of clauses in contracts concluded between hoteliers and tourists consuming hotel services and products, all the more so in the current pandemic context of Covid 19, stressed the increase in the number of disputes generated by them. This article presents a general picture of the significance of the risks related to the activity carried out in the hospitality industry, tourism, respectively within the HoReCa field. The study mainly marks the specificities of the hotel deposit contract, as well as the related insurance specific to the field, as a way to cover these risks. The article also refers to alternative methods of out-of-court settlement of disputes (ADR) in the HoReCa domain, generally used in both Romania and the European Union.

Keywords: consumer tourist, disputes and ADR methods, deposit contract, hotel warehouse and hotelier insurance, hotel services and tourist products, HoReCa

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Authors: Nicolaas Unland, John Webb

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The acidification and mobilisation of metals during the oxidation of acid sulfate soils exposed during lake bed drying is an increasingly common phenomenon under climate scenarios with reduced rainfall. In order to assess the risk of generating high concentrations of acidity and dissolved metals, chromium suite analysis are fundamental, but sometimes limited in characterising the potential risks they pose. This study combines such fundamental test work, along with incubation tests and 1D modelling to investigate the risks associated with the drying of Third Reedy Lake in South East Australia. Core samples were collected from a variable depth of 0.5 m below the lake bed, at 19 locations across the lake’s footprint, using a boat platform. Samples were subjected to a chromium suite of analysis, including titratable actual acidity, chromium reducible sulfur and acid neutralising capacity. Concentrations of reduced sulfur up to 0.08 %S and net acidities up to 0.15 %S indicate that acid sulfate soils have formed on the lake bed during permanent inundation over the last century. A further sub-set of samples were prepared in 7 columns and subject to accelerated heating, drying and wetting over a period of 64 days in laboratory. Results from the incubation trial indicate that while pyrite oxidation proceeded, minimal change to soil pH or the acidity of leachate occurred, suggesting that the internal buffering capacity of lake bed sediments was sufficient to neutralise a large proportion of the acidity produced. A 1D mass balance model was developed to assess potential changes in lake water quality during drying based on the results of chromium suite and incubation tests. Results from the above test work and modelling suggest that acid sulfate soils pose a moderate to low risk to the Third Reedy Lake system. Further, the risks can be effectively managed during the initial stages of lake drying via flushing with available mildly alkaline water. The study finds that while test work such as chromium suite analysis are fundamental in characterizing acid sulfate soil environments, they can the overestimate risks associated with the soils. Subsequent incubation test work may more accurately characterise such soils and lead to better-informed management strategies.

Keywords: acid sulfate soil, incubation, management, model, risk

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Authors: Arun Prasath Subramanian

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The turbine Inlet Temperature is an important parameter which determines the efficiency of a gas turbine engine. The increase in this parameter is limited by material constraints of the turbine blade.The modern Gas turbine blade has undergone a drastic change from a simple solid blade to a modern multi-pass blade with internal and external cooling techniques. This paper aims to introduce the reader the concept of turbine blade cooling, the classification of techniques and further explain some of the important internal cooling technologies used in a modern gas turbine blade along with the various factors that affect the cooling effectiveness.

Keywords: gas turbine blade, cooling technologies, internal cooling, pin-fin cooling, jet impingement cooling, rib turbulated cooling, metallic foam cooling

Procedia PDF Downloads 278

Authors: Jingwen Shi, Qi Wu

Abstract:

We study the role played interest rate risk in carry trade return in order to understand the forward premium puzzle. In this study, our goal is to investigate to what extent carry trade return is indeed due to compensation for risk taking and, more important, to reveal the nature of these risks. Using option data not only on exchange rates but also on interest rate swaps (swaptions), our first finding is that, besides the consensus currency risks, interest rate risks also contribute a non-negligible portion to the carry trade return. What strikes us is our second finding. We find that large downside risks of future exchange rate movements are, in fact, priced significantly in option market on interest rates. The role played by interest rate risk differs structurally from the currency risk. There is a unique premium associated with interest rate risk, though seemingly small in size, which compensates the tail risks, the left tail to be precise. On the technical front, our study relies on accurately retrieving implied distributions from currency options and interest rate swaptions simultaneously, especially the tail components of the two. For this purpose, our major modeling work is to build a new international asset pricing model where we use an orthogonal setup for pricing kernels and specify non-Gaussian dynamics in order to capture three sets of option skew accurately and consistently across currency options and interest rate swaptions, domestic and foreign, within one model. Our results open a door for studying forward premium anomaly through implied information from interest rate derivative market.

Keywords: carry trade, forward premium anomaly, FX option, interest rate swaption, implied volatility skew, uncovered interest rate parity

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Authors: Manpreet Kaur

Abstract:

The effect of external and internal exposure in outdoor and indoor environment can be significantly gauged by natural radionuclides. Therefore, it is a consequential to approximate the level of radionuclide contents in soil samples of any area and the risks associated with it. Rate of radon emerging from soil is also one of the prominent parameters for the assessment of radon levels in environmental. In present study, natural radionuclide contents viz. ²³²Th, ²³⁸U and ⁴⁰K and radon/thoron exhalation rates were evaluated operating thallium doped sodium iodide gamma radiation detector and advanced Smart Rn Duo technique in the soil samples from 30 villages of Jammu district, Jammu and Kashmir, India. Radon flux rate was also measured by using surface chamber technique. Results obtained with two different methods were compared to investigate the cause of emanation factor in the soil profile. The radon mass exhalation rate in the soil samples has been found varying from 15 ± 0.4 to 38 ± 0.8 mBq kg⁻¹ h⁻¹ while thoron surface exhalation rate has been found varying from 90 ± 22 to 4880 ± 280 Bq m⁻² h⁻¹. The mean value of radium equivalent activity (99 ± 27 Bq kg⁻¹) was appeared to be well within the admissible limit of 370 Bq kg⁻¹ suggested by Organization for Economic Cooperation and Development (2009) report. The values of various parameters related to radiological hazards were also calculated and all parameters have been found to be well below the safe limits given by various organizations. The outcomes pointed out that region was protected from danger as per health risks effects associated with these radionuclide contents is concerned.

Keywords: absorbed dose rate, exhalation rate, human health, radionuclide

Procedia PDF Downloads 117

Authors: I. Kurashvili, G. Darsavelidze, G. Bokuchava, A. Sichinava, I. Tabatadze

Abstract:

The impact of boron doping on the internal friction (IF) and shear modulus temperature spectra of Si_1-xGe_x(x≤0,02) monocrsytals has been investigated by reverse torsional pendulum oscillations characteristics testing. At room temperatures, microhardness and indentation modulus of the same specimens have been measured by dynamic ultra microhardness tester. It is shown that boron doping causes two kinds effect: At low boron concentration (~10¹⁵ cm^-3) significant strengthening is revealed, while at the high boron concentration (~10¹⁹ cm^-3) strengthening effect and activation characteristics of relaxation origin IF processes are reduced.

Keywords: boron, doping, internal friction, si-ge alloys, thermal treatment

Procedia PDF Downloads 428

Authors: Sayed Amir Hamzeh Mirkheshti

Abstract:

Offshore wind energy as a strategic renewable energy, has been growing rapidly due to availability, abundance and clean nature of it. On the other hand, budget of this project is incredibly higher in comparison with other renewable energies and it takes more duration. Accordingly, precise estimation of time and cost is needed in order to promote awareness in the developers and society and to convince them to develop this kind of energy despite its difficulties. Occurrence risks during on project would cause its duration and cost constantly changed. Therefore, to develop offshore wind power, it is critical to consider all potential risks which impacted project and to simulate their impact. Hence, knowing about these risks could be useful for the selection of most influencing strategies such as avoidance, transition, and act in order to decrease their probability and impact. This paper presents an evaluation of the feasibility of 500 MV offshore wind project in the Persian Gulf and compares its situation with uncertainty resources and risk. The purpose of this study is to evaluate time and cost of offshore wind project under risk circumstances and uncertain resources by using Monte Carlo simulation. We analyzed each risk and activity along with their distribution function and their effect on the project.

Keywords: wind energy project, uncertain resources, risks, Monte Carlo simulation

Procedia PDF Downloads 329

Authors: Mustafa Kirisci

Abstract:

Arms embargoes have not been adequately examined in terms of their effects on conflict duration. Prior research on arms embargoes has generally investigated the effect of arms embargoes on arms import/export practices and violations in arms embargoes, but it says little about the effect on conflict duration. This paper attempts to fill this gap and aims to investigate the effect of arms embargoes on conflict duration throughout the world. More precisely, the purpose of the paper is to understand how arms embargoes affect the duration of both internal and interstate conflicts. Given the theoretical framework, the main hypothesis of the paper is arms embargoes will have no reduction effect on conflict duration when arms transfer and region are controlled. This hypothesis is tested by using OLS regression. Results indicate that arms embargoes have no effect on both internal and interstate conflict duration. Another crucial result is that both small and major arms transfers made by the embargoed countries during the internal conflict increase the duration of the conflict, but no effect on interstate conflict duration. The final part concludes and provide explanations on what these results imply for finishing the conflict and bringing the peace.

Keywords: arms embargo, arms transfer, internal conflict, international conflict

Procedia PDF Downloads 403