Search results for: risk capital allocation

Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

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Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

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Authors: Iman Abrishamchi

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The aim of this study is to investigate the effect of Positive psychology micro coaching (PPMC) on nonexecutive employees' psychological capital and the relation between goal-related self-efficacy and goal attainment. This study was in the form of a control trial design for 150 people in the factory over a period of 5 weeks; the intervention method was a strength-based approach. Participants were divided into two experimental groups (EX) and the waiting list group (WL). The measurement methods were a mix of quantitative and qualitative and included the psychological capital measurement questionnaire, a 2X2 ANOVA to analyze the within-subject factors and between-subject factors, t-tests for evaluating the time effect, and data analysis by the SPSS 25.0 statistical program. The results of the study showed that PPMC could increase psychological capital in employees, and goal-related self-efficacy can predict goal attainment, so this contributes to successful organizational outcomes.

Keywords: psychological capital, goal attainment, positive psychology, micro-coaching intervention, goal related self-efficacy

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Authors: Ali Babaei

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There is a worldwide growing tendency toward construction of infrastructures with the possibility of private sector participation instead of free exploitation of public infrastructures. The construction and development of roads through private sector participation is performed by different countries because of appropriate results and benefits such as compensation of public budget deficit in road construction and maintenance and responding to traffic growth (demand). Toll is the most definite form of budget provision in road development. There are two issues in the toll rate assignment: A. costing of transport, B. Cost allocation and distribution of cost between different types of vehicles as each vehicle pay its own share. There can be different goals in toll collection and its extent is variable according to the strategy of toll collection. Costing principles in different countries are based on inclusion of the whole transport and not peculiar to the toll roads. For example, fuel tax policy functions where the road network users pay transportation cost (not just users of toll road). Whereas transportation infrastructures in Iran are free, these methods are not applicable. In Iran, different toll freeways have built by public investment and government provides participation in the road construction through encouragement of financial institutions. In this paper, the existing policies about the toll roads are studied and then the appropriate method of costing and cost allocation to different vehicles is introduced.

Keywords: toll allocation, road pricing, transportation, financial and industrial systems

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Authors: I.Hussain, A. Gulzar

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Knowledge sharing is very important in organizations for their future progress and survival. This study investigates the impact of destructive leadership (abusive supervision) on knowledge sharing in employees. Further, the authors want to investigate a context variable (group cohesion) and explore its cross level influence on the relationship of abusive supervision and knowledge sharing. Conservation of resource theory (COR) claims loss of psychological capital (an internal positive resource) in employees due to abusive supervision and hence decrease occurs in knowledge sharing. This study tests psychological capital as mediator and group cohesion as moderator in relationship of abusive supervision and knowledge sharing. Data was collected from 239 respondents from more than 40 different organizations and 50 different groups from all over Pakistan. Results show that abusive supervision has negative effect on knowledge sharing through reduction in psychological capital of employees, and increased group cohesion in employees reduces this negative effect improving psychological capital in employees.

Keywords: abusive supervision, knowledge sharing, psychological capital, group cohesion, conservation of resources

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Authors: Hyeondal Jeong, Yoonjung Baek

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This research examines the effects of positive psychological capital (or PsyCap) on employee’s outcomes (satisfaction, commitment, organizational citizenship behavior, innovation behavior and individual creativity). This study conducted a meta-analysis of articles published in the Republic of Korea. As a result, positive psychological capital has a positive effect on the behavior of employees. Heterogeneity was identified among the studies included in the analysis and the context factors were analyzed; the study proposes contextual factors such as team tenure. The moderating effect of team tenure was not statistically significant. The implications were discussed based on the analysis results.

Keywords: positive psychological capital , satisfaction, commitment, OCB, creativity, meta-analysis

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Authors: Siminfar Samakoush Galougah

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In this paper, we study two power allocation problems for an uplink user-centric (UC) cell-free massive multiple-input multiple-output (CF-mMIMO) system. Besides, we assume each access point (AP) is connected to a central processing unit (CPU) via a fronthaul link with limited capacity. To efficiently use the fronthaul capacity, two strategies for transmitting signals from APs to the CPU are employed, namely, compress-forward estimate (CFE), estimate-compress-forward (ECF). The capacity of the aforementioned strategies in user-centric CF-mMIMO is drived. Then, we solved the two power allocation problems with minimum Spectral Efficiency (SE) and sum-SE maximization objectives for ECF and CFE strategies.

Keywords: cell-free massive MIMO, limited capacity fronthaul, spectral efficiency

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Authors: Cinzia Carrodano, Dimitri Konstantas

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Risk is part of our lives. In today’s society risk is connected to our safety and safety has become a major priority in our life. Each person lives his/her life based on the evaluation of the risk he/she is ready to accept and sustain, and the level of safety he/she wishes to reach, based on highly personal criteria. The assessment of risk a person takes in a complex environment and the impact of actions of other people’actions and events on our perception of risk are alements to be considered. The concept of Holistic Risk Assessment (HRA) aims in developing a methodology and a model that will allow us to take into account elements outside the direct influence of the individual, and provide a personalized risk assessment. The concept is based on the fact that in the near future, we will be able to gather and process extremely large amounts of data about an individual and his/her environment in real time. The interaction and correlation of these data is the key element of the holistic risk assessment. In this paper, we present the HRA concept and describe the most important elements and considerations.

Keywords: continuous data, dynamic risk, holistic risk assessment, risk concept

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Authors: Mrigakshi Das

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

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

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Authors: Rbiha Salsabil Ketitni

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The entire company is a series of information among themselves so that each information serves several events and activities, and the latter is nothing but a large set of data or huge data. The enormity of information leads to the possibility of losing it sometimes, and this possibility must be avoided in the institution, especially the information that has a significant impact on it. In most cases, to avoid the loss of this information and to be relatively correct, information systems are used. At present, it is impossible to have a company that does not have information systems, as the latter works to organize the information as well as to preserve it and even saves time for its owner and this is the result of the speed of its mission. This study aims to provide an idea of an accounting information system that opens a forward-looking study for its manufacture and development by researchers, scientists, and professionals. This is the result of most individuals seeing a great contradiction between the work of an information system for moral capital and does not provide real values when measured, and its disclosure in financial reports is not distinguished by transparency.

Keywords: accounting, intellectual capital, intellectual capital accounting, information system

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Authors: Olaniyi O. Omoyajowo

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To be successful in today’s competitive global environment, manufacturing industry must be able to respond quickly to changes in technology. These changes in technology introduce new risks and hazards. The management of risk/hazard in a manufacturing process recommends method through which the success rate of an organization can be increased. Thus, there is a continual need for manufacturing industries to invest significant amount of resources in risk management, which in turn optimizes the production output and profitability of any manufacturing industry (if implemented properly). To help improve the existing risk prevention and mitigation practices in Small and Medium Enterprise (SME) in Nigeria Manufacturing Industries (NMI), the researcher embarks on this research to develop a systematic Risk Management process.

Keywords: manufacturing management, risk, risk management, SMEs

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Authors: Phontip Kanlahasuth

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This paper presents the environmental safety and occupational health risk assessment of rocket static test by assessing risk level from probability and severity and then appropriately applying the risk control measures. Before the environmental safety and occupational health measures are applied, the serious hazards level is 31%, medium level is 24% and low level is 45%. Once risk control measures are practically implemented, the serious hazard level can be diminished, medium level is 38%, low level is 45% and eliminated level is 17%. It is clearly shown that the environmental safety and occupational health measures can significantly reduce the risk level.

Keywords: rocket static test, hazard, risk, risk assessment, risk analysis, environment, safety, occupational health, acceptable risk, probability, severity, risk level

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Authors: Beatrice Eyram Afi Ziorklui, Norihisa Shima

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Community Driven Development (CDD) is now a widely recommended and accepted development strategy for informal communities across the continent. Centered on the utilization of social capital through community structures, different informal settlements have different structures and different levels of social capital, which affect the implementation and ability to overcome CDD challenges. Although known to be very successful, there are few perspectives on the implementation of CDD initiatives in different informal settlements. This study assesses the implementation of CDD initiatives in migrant and indigenous informal settlements and their ability to navigate challenges. The case study research design was adopted in this research, and respondents were chosen through simple random sampling. Using the Statistical Package for social scientists (SPSS) for data analysis, the study found that migrant informal settlements implement CDD projects through the network of hierarchical structures based on government systems, whereas indigenous informal settlements implement through the hierarchical social structure based on traditions and culture. The study also found that, with the exception of the challenge of land accessibility in migrant informal settlements, all other challenges, such as participation, resource mobilization, and maintenance, have a significant relationship with social capital, although indigenous informal settlements have higher levels of social capital than migrant informal settlements. The study recommends a framework that incorporates community characteristics and the underlying social capital to facilitate upgrading strategies in informal in Ghana.

Keywords: community driven development, informal settlements, social capital, upgrading

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Authors: Qiong Huang, Satish Chand

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This paper uses a primary data from 670 Chinese manufacturing firms, together with the newly introduced regressionbased inequality decomposition method, to study the effect of openness on wage inequality. We find that openness leads to a positive industry wage premium, but its contribution to firm-level wage inequality is relatively small, only 4.69%. The major contributor to wage inequality is human capital, which could explain 14.3% of wage inequality across sample firms.  

Keywords: openness, human capital, wage inequality, decomposition, China

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Authors: Ratri A. Benedictus, Felicia M. Yolanda

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Public transport is a crucial issue for capital city in developing country, such as Jakarta. Inadequate number and low quality of public transport services resulting personal vehicles as the main option. As a result, traffic jams are getting worse in Jakarta. The low quality of public transport, particularly buses, compounded by the risk behavior of the driver. Traffic accidents involving public bus in Jakarta were often the case, even result in fatality. The purpose of this study is to get a description of risk behavior among the public bus drivers in Jakarta. 132 bus drivers become respondent of this study. Risky Driving Behavior scale of Dorn were used. Data were analyzed using descriptive statistics. 51.5% of respondents felt often showing risky behavior while on driving. The highest type of risky driving behavior is still using the unsafe bus (62%). Followed by trespass the bus line (30%), over speed (21%), violate the road signs (15%) and driving with unhealthy physical condition (4%). Results of this study suggested that high understanding of the bus drivers on their risk behaviors have not lead to the emergence of safe driving behavior. Therefore, together with technical engineering and instrumentation work intervention over this issue, psychological aspects also need to be considered, such as: risk perception, safety attitude,safety culture, locus of control and Fatalism.

Keywords: bus driver, psychological factors, public transportation, risky driving behavior

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Authors: Saadia Drissi

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The cloud computing is an innovative paradigm that introduces several changes in technology that have resulted a new ways for cloud providers to deliver their services to cloud consumers mainly in term of security risk assessment, thus, adapting a current risk assessment tools to cloud computing is a very difficult task due to its several characteristics that challenge the effectiveness of risk assessment approaches. As consequence, there is a need of risk assessment model adapted to cloud computing. This paper requires a new risk assessment model based on multi-agent system and AHP model as fundamental steps towards the development of flexible risk assessment approach regarding cloud consumers.

Keywords: cloud computing, risk assessment model, multi-agent system, AHP model, cloud consumer

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Authors: Francis Edum-Fotwe, Tony Thorpe, Charles Afetornu

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Risk perception informs the outcome of how issues are responded to in either solving or overcoming a problem or improving a situation. Risk perception is established to be affected by some key factors reflecting in the varying ways in which work is done as well as the level of efficiency achieved. These factors potentially would influence risk perception to different extents. Such that if these factors are said to determine risk perception, how does a change in any affect risk perception. Since the ability to address risk is influenced by risk perception, establishing and developing awareness of that perception should enable construction professionals to make viable decisions. Any act to improve the construction industry cannot be overemphasised, considering its contribution to national development. A survey questionnaire was conducted in Ghana to elicit data that measures the risk perception and the essential factors as well as the necessary demographics of the respondents, who are construction professionals. This study finds out the sensitivity of the critical factors of risk perception. It uses the Relative Importance Index analysis tool to investigate the differential effect of these essential factors on risk perception, such that a slight change in a factor makes a significant change in risk perception, having established that it is influenced by essential factors. The findings can lead to policy formation for employers on the prioritisation factors to undertake to improve the risk perception of employees. Other areas in which this study can be useful in team formation for sensitive and complex projects where efficient risk management is critical.

Keywords: construction industry, risk, risk management, risk perception

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Authors: Hoi-Lam Ma, Sai-Ho Chung

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In traditional integrated berth allocation with quay crane assignment models, time dimension is usually assumed in hourly based. However, nowadays, transshipment becomes the main business to many container terminals, especially in Southeast Asia (e.g. Hong Kong and Singapore). In these terminals, vessel arrivals are usually very frequent with small handling volume and very short staying time. Therefore, the traditional hourly-based modeling approach may cause significant berth and quay crane idling, and consequently cannot meet their practical needs. In this connection, a 15-minute-based modeling approach is requested by industrial practitioners. Accordingly, a Three-level Genetic Algorithm (3LGA) with Quay Crane (QC) shifting heuristics is designed to fulfill the research gap. The objective function here is to minimize the total service time. Preliminary numerical results show that the proposed 15-minute-based approach can reduce the berth and QC idling significantly.

Keywords: transshipment, integrated berth allocation, variable-in-time quay crane assignment, quay crane assignment

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Authors: Ese Urhie, Bosede Olopade, Muyiwa Oladosun, Henry Okodua

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In the past three and half decades, aside from the fact that the contribution of the industrial sector to gross domestic product in Nigeria has nose-dived, its performance has also been highly unstable. Investment funds needed to develop the industrial sector usually come from both internal and external sources. The internal sources include surplus generated within the industrial sector and surplus diverted from other sectors of the economy. It has been observed that due to the small size of the industrial sector in developing countries, very limited funds could be raised for further investment. External sources of funds which many currently industrialized and some ‘newly industrializing countries’ have benefited from including direct and indirect investment by foreign capitalists; foreign aid and loans; and investments by nationals living abroad. Foreign direct investment inflow in Nigeria has been declining since 2009 in both absolute and relative terms. High level of human capital has been identified as one of the crucial factors that explain the miraculous growth of the ‘Asian Tigers’. Its low level has also been identified as the major cause for the low level of FDI flow to Nigeria in particular and Africa in general. There has been positive, but slow improvement in human capital indicators in Nigeria in the past three decades. In spite of this, foreign direct investment inflow has not only been low; it has declined drastically in recent years. i) Why has the improvement in human capital in Nigeria failed to attract more FDI inflow? ii) To what extent does the level of human capital influence FDI inflow in Nigeria? iii) Is there a threshold of human capital stock that guarantees sustained inflow of FDI? iv) Does the quality of human capital matter? v) Does the influence of other (negative) factors outweigh the benefits of human capital? Using time series secondary data, a system of equations is employed to evaluate the effect of human capital on FDI inflow in Nigeria on one hand and the effect of FDI on the level of industrialization on the other. A weak relationship between human capital and FDI is expected, while a strong relationship between FDI and industrial growth is expected from the result.

Keywords: human capital, foreign direct investment, industrialization, gross domestic product

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Authors: Yusuf Ismaila

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The developing countries are characterized by inefficient production systems and unequal distribution of wealth. Developing countries are largely populated, yet under developed. This can be attributed partly to the unplanned efforts towards the development of human capital through education and training. In the developed nations a huge attention is accorded to indices such as life expectancy, literacy, infant mortality, education, and the efficient delivery of social services. This is the reason why many developing countries have been scored low by the United Nations in terms of its human development indicators. The population growth continued to expand far beyond the rate of economic growth, a situation that gave rise to increasing poverty. This paper examines the effect of selected human development indicators on the economic development. Thus human capital development is one of the fundamental solutions to enter the international arena. Both quantitative and qualitative analyses were used to demonstrate the effect of selected human capital indices and related literatures were also reviewed for exposition of the human capital concept. It was found that there are no conscious efforts in human capital planning. This has therefore resulted to continuing dwindling of production system and poverty. Recommendations made to redress the situation include that human capital development should be planned and adequately funded in line with the needs of the economy and by applying international standards. Specifically, developing countries must invest necessary resources in developing human capital which tend to have a great impact on sustainable development. Information about the labour market should improve while government policy should favour labour mobility. HCD strategy must focus on improving the skills of the workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in a fast globalizing economy. There should be regular interaction of planners, employers and builders of human capital to facilitate the process of meaningful national development.

Keywords: economic development, human capital, economic growth, developing countries

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Authors: Kimberly Samaha

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In order to attract new types of investors into the emerging Bio-Economy, new methodologies to analyze investment risk are needed. The Bio-Hub Ecosystem model was developed to address a critical area of concern within the global energy market regarding the use of biomass as a feedstock for power plants. This study looked at repurposing existing biomass-energy plants into Circular Zero-Waste Bio-Hub Ecosystems. A Bio-Hub model that first targets a ‘whole-tree’ approach and then looks at the circular economics of co-hosting diverse industries (wood processing, aquaculture, agriculture) in the vicinity of the Biomass Power Plants facilities. This study modeled the economics and risk strategies of cradle-to-cradle linkages to incorporate the value-chain effects on capital/operational expenditures and investment risk reductions using a proprietary techno-economic model that incorporates investment risk scenarios utilizing the Monte Carlo methodology. The study calculated the sequential increases in profitability for each additional co-host on an operating forestry-based biomass energy plant in West Enfield, Maine. Phase I starts with the base-line of forestry biomass to electricity only and was built up in stages to include co-hosts of a greenhouse and a land-based shrimp farm. Phase I incorporates CO2 and heat waste streams from the operating power plant in an analysis of lowering and stabilizing the operating costs of the agriculture and aquaculture co-hosts. Phase II analysis incorporated a jet-fuel biorefinery and its secondary slip-stream of biochar which would be developed into two additional bio-products: 1) A soil amendment compost for agriculture and 2) A biochar effluent filter for the aquaculture. The second part of the study applied the Monte Carlo risk methodology to illustrate how co-location derisks investment in an integrated Bio-Hub versus individual investments in stand-alone projects of energy, agriculture or aquaculture. The analyzed scenarios compared reductions in both Capital and Operating Expenditures, which stabilizes profits and reduces the investment risk associated with projects in energy, agriculture, and aquaculture. The major findings of this techno-economic modeling using the Monte Carlo technique resulted in the masterplan for the first Bio-Hub to be built in West Enfield, Maine. In 2018, the site was designated as an economic opportunity zone as part of a Federal Program, which allows for Capital Gains tax benefits for investments on the site. Bioenergy facilities are currently at a critical juncture where they have an opportunity to be repurposed into efficient, profitable and socially responsible investments, or be idled and scrapped. The Bio-hub Ecosystems techno-economic analysis model is a critical model to expedite new standards for investments in circular zero-waste projects. Profitable projects will expedite adoption and advance the critical transition from the current ‘take-make-dispose’ paradigm inherent in the energy, forestry and food industries to a more sustainable Bio-Economy paradigm that supports local and rural communities.

Keywords: bio-economy, investment risk, circular design, economic modelling

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Authors: Z. A. Ahmad, R. C. Omar, I. Z. Baharuddin, R. Roslan

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Assessments of social vulnerability, carried out holistically, can provide an important guide to the planning process and to decisions on resource allocation at various levels, and can help to raise public awareness of geo-hazard risks. The assessments can help to provide answers for basic questions such as the human vulnerability at the geo-hazard prone or disaster areas causing health damage, economic loss, loss of natural heritage and vulnerability impact of extreme natural hazard event. To overcome these issues, integrated framework for assessing the increasing human vulnerability to environmental changes caused by geo-hazards will be introduced using an indicator from landslide risk map that is related to agent based modeling platform. The indicators represent the underlying factors, which influence a community’s ability to deal with and recover from the damage associated with geo-hazards. Scope of this paper is particularly limited to landslides.

Keywords: social, vulnerability, geo-hazard, methodology, indicators

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Authors: Mohamed Anouar Razgallah

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This paper examines in the context of a one-period model the impact of background risk on the optimal secondary prevention. We conduct our study based on various configurations of the background risk. We intend to show that in most cases the level of secondary prevention effort varied after the introduction of background risk, however, in very few cases this level remains constant.

Keywords: secondary prevention, primary prevention, background risk, ecomomics

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Authors: H. Florianová, J. Nešleha

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Financial derivatives are considered to be risky investment instruments which could possibly bring another financial crisis. As prevention, European Union and its member states have released new legal acts adjusting this area of law in recent years. There have been several cases in history of capital markets worldwide where it was shown that legislature may affect behavior of subjects on capital markets. In our paper we analyze main events on selected European stock exchanges in order to apply them on three chosen markets - Czech capital market represented by Prague Stock Exchange, German capital market represented by Deutsche Börse and Polish capital market represented by Warsaw Stock Exchange. We follow time series of development of the sum of listed derivatives on these three stock exchanges in order to evaluate popularity of those exchanges. Afterwards we compare newly listed derivatives in relation to the speed of development of these exchanges. We also make a comparison between trends in derivatives and shares development. We explain how a legal regulation may affect situation on capital markets. If the regulation is too strict, potential investors or traders are not willing to undertake it and move to other markets. On the other hand, if the regulation is too vague, trading scandals occur and the market is not reliable from the prospect of potential investors or issuers. We see that making the regulation stricter usually discourages subjects to stay on the market immediately although making the regulation vaguer to interest more subjects is usually much slower process.

Keywords: capital markets, financial derivatives, investors' behavior, regulation

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Authors: Hailemariam Gebremichael Gebretsadik, Abrham Hagos Tesfaslasea

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To satisfy the high need for ICT entrepreneurship and rectify the weak entrepreneurial culture in Ethiopia, the country has established ICT Business incubation centers with the intention of preventing business failures, promoting innovation, and accelerating the growth and success of firms. This study investigates the role of business incubators and social capital on the innovation and growth of firms in Ethiopia. In this research, innovation and growth of firms were considered as dependent variables, whereas business incubation and social capital were treated as independent variables. The researcher employed an e-mail survey among 137 tenant Firms (Firms that joined and/or graduated to/from the Business incubation centers available in Ethiopia) to collect the data and obtained 113 responses that were appropriate for this research. The result of this study reveals that the dimensions of business incubation (physical resource, business support, and networking) have a significant effect on the innovation of Firms, but these dimensions of business incubation do not show a significant effect on the growth of firms. On the other hand, the dimensions of social capital (structural, cognitive, and relational) show a significant positive impact on the likelihood of Firms' growth but not on the innovation of firms. Moreover, the result of this study indicates that the dimensions of business incubation and social capital together have a significant effect on the likelihood of tenant firms innovating and growing.

Keywords: business incubation, innovation, social capital, tenant firms

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Authors: Charles Amoatey

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The issue of risk in the mining industry is a global phenomenon and the Ghanaian mining industry is not exempted. The main purpose of this study is to identify the critical risk factors affecting the mining industry. The study takes an integrated view of the mining industry by examining the contribution of various risk factors to mining project failure in Ghana. A questionnaire survey was conducted to solicit the critical risk factors from key mining practitioners. About 80 respondents from 11 mining firms participated in the survey. The study identified 22 risk factors contributing to mining project failure in Ghana. The five most critical risk factors based on both probability of occurrence and impact were: (1) unstable commodity prices, (2) inflation/exchange rate, (3) land degradation, (4) high cost of living and (5) government bureaucracy for obtaining licenses. Furthermore, the study found that risk assessment in the mining sector has a direct link with mining project sustainability. Mitigation measures for addressing the identified risk factors were discussed. The key findings emphasize the need for a comprehensive risk management culture in the entire mining industry.

Keywords: risk, assessment, mining, Ghana

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Authors: Y. R. Lai, J. C. Jehng, T. T. Chang

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Team is a popular job design in the management settings. Because people on a team need to work together to complete a lot of tasks, the interaction between team members strongly influences team effectiveness. The study examines the effect of social capital and empowering leadership on team cohesion. There are three facets of social capital: structural facet, relational facet, and cognitive facet. Empowering leadership includes enhancing the meaningfulness of work, fostering participation in decision making, expressing confidence in high performance, and providing autonomy from bureaucratic constraints. Data were collected from 181 team members of 47 teams in the real estate agency industry. The results show that the relational social capital, enhancing the meaningfulness of work, and providing autonomy from bureaucratic constraints are positively related to two dimensions of team cohesion: sense of belonging and feelings of moral. Additionally, expressing confidence in high performance is negatively related to sense of belonging.

Keywords: social capital, empowering leadership, team cohesion, team effectiveness

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Authors: Vandana Maurya

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Positive psychological capital is the key contributor to the competitive advantage of the organizations. Moreover, work engagement and sense of humor are also positive notions and are able to facilitate positive workplace behaviour but the mechanism behind these relationships are not well understood. The purpose of this study was to examine the relationships among work engagement, sense of humor and outcome variables (organizational citizenship behaviour and ethical performance) as well as investigating how psychological capital (PsyCap) mediates the relationships between work engagement, sense of humor and the outcome variables among healthcare professionals. A cross-sectional survey was conducted on healthcare professionals (n= 240). Data were collected using questionnaires which includes Utrecht Work Engagement Scale (UWES), Multi-dimensional Sense of Humor Scale (MSHS), Psychological Capital Questionnaire (PCQ), Organizational Citizenship Behavior Questionnaire, and Ethical Performance Scale (EPS). The results of the regression analyses showed that work engagement and sense of humor both positively predicted the outcome variables. Mediation analysis reveals that psychological capital mediates the relationship between predictor and outcome variables. The study recommends that the framework presented in this study can be an important tool for managers to enhance their employees’ psychological capital by increasing their levels of work engagement and sense of humor. In turn, psychological capital could be a positive resource for employees to dealing more ethically and enhancing more positive workplace behaviour.

Keywords: ethical performance, humor, organizational citizenship behavior, PsyCap, work engagement

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Authors: Jolanta Tamošaitienė

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The article focuses on a developed comprehensive model to be used in an agile environment for the risk assessment and selection based on multi-attribute methods. The model is based on a multi-attribute evaluation of risk in construction, and the determination of their optimality criterion values are calculated using complex Multiple Criteria Decision-Making methods. The model may be further applied to risk assessment in an agile construction environment. The attributes of risk in a construction project are selected by applying the risk assessment condition to the construction sector, and the construction process efficiency in the construction industry accounts for the agile environment. The paper presents the comprehensive risk assessment model in an agile construction environment. It provides a background and a description of the proposed model and the developed analysis of the comprehensive risk assessment model in an agile construction environment with the criteria.

Keywords: assessment, environment, agile, model, risk

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Authors: Mahfoud Djebbar

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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.

Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets

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Authors: Ugur Choban, Aruzhan Zhaksylyk, Assylbek Nurgabdeshov

Abstract:

In recent years, there has been an increasing understanding of the value of encouraging entrepreneurial attitudes in university students. This is motivated by the belief that stimulating entrepreneurship not only promotes economic growth but also fosters innovation. This study looks at the complex link and addresses critical gaps between psychological capital and entrepreneurial intention among university students, with a specific emphasis on how contextual factors like academic support and past business experience impact this dynamic. Using a quantitative research method, data were gathered from a broad sample of 300 university students drawn from several faculties. The study used a questionnaire that included the Psychological Capital Questionnaire (PCQ) to assess psychological capital and a validated scale for entrepreneurial intention, as well as binary measures of academic support and prior entrepreneurial experience. Statistical investigations, including multigroup analyses performed with SmartPLS software, provided interesting insights into the effect of contextual factors on the relationship between psychological capital and entrepreneurial intention. The findings highlight that psychological capital had a strong favorable influence on university students' entrepreneurial inclinations. Furthermore, the study found that academic support enhances the influence of psychological capital on entrepreneurial intentions, emphasizing the significance of institutional backing in fostering entrepreneurial mindsets. Furthermore, students with prior entrepreneurial experience had a stronger propensity for entrepreneurship, showing a synergistic link between psychological capital and entrepreneurial background. These findings have both theoretical and practical implications. By explaining the mechanisms by which psychological capital promotes entrepreneurial intentions, the study contributes to the establishment of focused entrepreneurship education programs and support activities that are suited to student requirements. Policymakers may use these findings to create policies that encourage student entrepreneurship, ultimately encouraging economic development and innovation.

Keywords: academic support, entrepreneurial intentions, higher education institutions, psychological capital, prior entrepreneurial experience

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