Search results for: risk management strategy

Authors: Sovit Pujari

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In the developing countries like Nepal, the community-based forest management approach has often been glorified as one of the best forest management alternatives to maximize the forest benefits. Though the approach has succeeded to construct a local level institution and conserve the forest biodiversity, how the local communities perceived about the forest benefits, the question always remains silent among the researchers and policy makers. The paper aims to explore the understanding of forest benefits from the perspective of local communities who used the forests in terms of institutional stability, equity and livelihood opportunity, and ecological stability. The paper revealed that the local communities have mixed understanding over the forest benefits. The institutional and ecological activities carried out by the local communities indicated that they have a better understanding over the forest benefits. However, inequality while sharing the forest benefits, low pricing strategy and its negative consequences in the valuation of forest products and limited livelihood opportunities indicating the poor understanding.

Keywords: community based forest management, low pricing strategy, forest benefits, livelihood opportunities, Nepal

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Authors: Ida Ngurah

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Indonesia is one of the most prone disaster countries, which has earthquake, tsunami or high wave, flood and landslide as well as volcano eruption and drought. Disaster risk reduction has been developing extensively and comprehensively, particularly after tsunami hit in 2004. Yet, saving people live including children and youth from disaster risk is still far from succeed. Poor management of environment, poor development of policy and high level of corruption has become challenges for Indonesia to save its people from disaster impact. Indonesia is struggling to ensure its future best investment, children and youth to have better protection when disaster strike in school hours and have basic knowledge on disaster risk reduction. The program of safe school is being initiated and developed by Plan Indonesia since 2010, yet this effort still needs to be elaborated. This paper is reviewing sporadic safe school programs that have been implemented or currently being implemented Plan Indonesia in few areas of Indonesia, including both rural and urban setting. Methods used are in-depth interview with dedicated person for the program from Plan Indonesia and its implementing patners and analysis of project documents. The review includes program’s goal and objectives, implementation activity, result and achievement as well as its monitoring and evaluation scheme. Moreover, paper will be showing challenges, lesson learned and best practices of the program. Eventually, paper will come up with recommendation for strategy for better implementation of safe school program in Indonesia.

Keywords: disaster impact, safe school, programs, children, youth

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Authors: Mehrdad Abkenari, Orod Zarrinkafsh, Mohsen Ramezan Shirazi

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Construction projects initiate in complicated dynamic environments and, due to the close relationships between project parameters and the unknown outer environment, they are faced with several uncertainties and risks. Success in time, cost and quality in large scale construction projects is uncertain in consequence of technological constraints, large number of stakeholders, too much time required, great capital requirements and poor definition of the extent and scope of the project. Projects that are faced with such environments and uncertainties can be well managed through utilization of the concept of risk management in project’s life cycle. Although the concept of risk is dependent on the opinion and idea of management, it suggests the risks of not achieving the project objectives as well. Furthermore, project’s risk analysis discusses the risks of development of inappropriate reactions. Since evaluation and prioritization of construction projects has been a difficult task, the network structure is considered to be an appropriate approach to analyze complex systems; therefore, we have used this structure for analyzing and modeling the issue. On the other hand, we face inadequacy of data in deterministic circumstances, and additionally the expert’s opinions are usually mathematically vague and are introduced in the form of linguistic variables instead of numerical expression. Owing to the fact that fuzzy logic is used for expressing the vagueness and uncertainty, formulation of expert’s opinion in the form of fuzzy numbers can be an appropriate approach. In other words, the evaluation and prioritization of construction projects on the basis of risk factors in real world is a complicated issue with lots of ambiguous qualitative characteristics. In this study, evaluated and prioritization the risk parameters and factors with fuzzy logy method by combination of three method DEMATEL (Decision Making Trial and Evaluation), ANP (Analytic Network Process) and TOPSIS (Technique for Order-Preference by Similarity Ideal Solution) on Construction Management.

Keywords: fuzzy logy, risk, prioritization, assessment

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Authors: Abderrazek Ben Maatoug, Ibrahim Fatnassi, Wassim Ben Ayed

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In this paper we investigate the issue of market risk quantification for Middle East and North Africa (MENA) Islamic market equity. We use Value-at-Risk (VaR) as a measure of potential risk in Islamic stock market, for long and short position, based on Riskmetrics model and the conditional parametric ARCH class model volatility with normal, student and skewed student distribution. The sample consist of daily data for the 2006-2014 of 11 Islamic stock markets indices. We conduct Kupiec and Engle and Manganelli tests to evaluate the performance for each model. The main finding of our empirical results show that (i) the superior performance of VaR models based on the Student and skewed Student distribution, for the significance level of α=1% , for all Islamic stock market indices, and for both long and short trading positions (ii) Risk Metrics model, and VaR model based on conditional volatility with normal distribution provides the best accurate VaR estimations for both long and short trading positions for a significance level of α=5%.

Keywords: value-at-risk, risk management, islamic finance, GARCH models

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Authors: Mirzet SeHo, Alaa Alaabed, Mansur Masih

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In theory, risk-sharing-based financing (RSF) is considered a corner stone of Islamic finance. It is argued to render Islamic banks more resilient to shocks. In practice, however, this feature of Islamic financial products is almost negligible. Instead, debt-based instruments, with conventional like features, have overwhelmed the nascent industry. In addition, the framework of present-day economic, regulatory and financial reality inevitably exposes Islamic banks in dual banking systems to problems of conventional banks. This includes, but is not limited to, interest rate risk. Empirical evidence has, thus far, confirmed such exposures, despite Islamic banks’ interest-free operations. This study applies system GMM in modeling the determinants of RSF, and finds that RSF is insensitive to changes in interest rates. Hence, our results provide support to the “stability” view of risk-sharing-based financing. This suggests RSF as the way forward for risk management at Islamic banks, in the absence of widely acceptable Shariah compliant hedging instruments. Further support to the stability view is given by evidence of counter-cyclicality. Unlike debt-based lending that inflates artificial asset bubbles through credit expansion during the upswing of business cycles, RSF is negatively related to GDP growth. Our results also imply a significantly strong relationship between risk-sharing deposits and RSF. However, the pass-through of these deposits to RSF is economically low. Only about 40% of risk-sharing deposits are channeled to risk-sharing financing. This raises questions on the validity of the industry’s claim that depositors accustomed to conventional banking shun away from risk sharing and signals potential for better balance sheet management at Islamic banks. Overall, our findings suggest that, on the one hand, Islamic banks can gain ‘independence’ from conventional banks and interest rates through risk-sharing products, the potential for which is enormous. On the other hand, RSF could enable policy makers to improve systemic stability and restrain excessive credit expansion through its countercyclical features.

Keywords: Islamic banks, risk-sharing, financing, interest rate, dynamic system GMM

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Authors: Leila H. Khiabani, Mohammadreza Vafaee, Farshad Hashemzadeh

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Industrial waste management regulates different stages of production, storage, transfer, recycling and waste disposal. There are several common practices for industrial waste management. However, due to various local health, economic, social, environmental and aesthetic considerations, the most optimal principles and measures often vary at each specific industrial zone. In addition, waste management strategies are heavily impacted by local administrative, legal, and financial regulations. In this study, a hybrid qualitative and quantitative research methodology has been designed for waste management planning in an industrial city. Firstly, following a qualitative research methodology, the most relevant waste management strategies for the specific industrial city were identified through interviews with environmental planning and waste management experts. Forty experts participated in this study. Alborz industrial city in Iran, which hosts more than one thousand industrial units in nine hundred acres, was chosen as the sample industrial city in this study. The findings from the expert interviews at the first phase were then used to design a quantitative questionnaire for the second phase of the study. The aim of the questionnaire was to quantify the relative impact of different waste management strategies in the sample industrial city. Eight waste management strategies and three implementation policies were included in the questionnaire. The experts were asked to rank the relative effectiveness of each strategy for environmental planning of the sample industrial city. They were also asked to rank the relative effectiveness of each planning policy on each of the waste management strategies. In the end, the weighted average of all the responses was calculated to identify the most effective waste management strategy and planning policies for the sample industrial city. The results suggested that among the eight suggested waste management strategies, industrial composting is the most effective (31%) strategy based on the collective evaluation of the local expert. Additionally, the results suggested that the most effective policy (58%) in the city’s environmental planning is to reduce waste generation by prolonging the effective life of industrial products using higher quality and recyclable materials. These findings can provide useful expert guidelines for prioritization between different waste management strategies in the city’s overall environmental planning roadmap. The findings may also be applicable to similar industrial cities. In addition, a similar methodology can be utilized in the environmental planning of other industrial cities.

Keywords: environmental planning, industrial city, quantitative research, waste management

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Authors: Sima Aznavi, Poria Fajri, Hanif Livani

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Smart homes are small energy systems which may be equipped with renewable energy sources, storage devices, and loads. Energy management strategy plays a main role in the efficient operation of smart homes. Effective energy scheduling of the renewable energy sources and storage devices guarantees efficient energy management in households while reducing the energy imports from the grid. Nevertheless, despite such strategies, independently day ahead energy schedules for multiple households can cause undesired effects such as high power exchange with the grid at certain times of the day. Therefore, the interactions between multiple smart home day ahead energy projections is a challenging issue in a smart grid system and if not managed appropriately, the imported energy from the power network can impose additional burden on the distribution grid. In this paper, a central energy management strategy for a network consisting of multiple households each equipped with renewable energy sources, storage devices, and Plug-in Electric Vehicles (PEV) is proposed. The decision-making strategy alongside the smart home energy management system, minimizes the energy purchase cost of the end users, while at the same time reducing the stress on the utility grid. In this approach, the smart home energy management system determines different operating scenarios based on the forecasted household daily load and the components connected to the household with the objective of minimizing the end user overall cost. Then, selected projections for each household that are within the same cost range are sent to the central decision-making system. The central controller then organizes the schedules to reduce the overall peak to average ratio of the total imported energy from the grid. To validate this approach simulations are carried out for a network of five smart homes with different load requirements and the results confirm that by applying the proposed central energy management strategy, the overall power demand from the grid can be significantly flattened. This is an effective approach to alleviate the stress on the network by distributing its energy to a network of multiple households over a 24- hour period.

Keywords: energy management, renewable energy sources, smart grid, smart home

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Authors: Maggie Hui

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Risk management is not a new concept; however, it is an uncharted area as applied to the translation process and translator training. Serving as one of the self-discovery activities in their practicum course, a two-cycle experiment was carried out with a class of 13 MA translation students with an attempt to explore their risk management while translating in a simulated setting that involves translator-client relations. To test the effects of the main variable of translators’ interaction with the simulated clients, the researcher employed control-group translators and two experiment groups (with Group A being the translator in Cycle 1 and the client in Cycle 2, and Group B on the client position in Cycle 1 and the translator position in Cycle 2). Experiment cycle 1 aims to explore if there would be any behavioral difference in risk management between translators with interaction with the simulated clients, i.e. experiment group A, and their counterparts without such interaction, i.e. control group. Design of Cycle 2 concerns the order of playing different roles of the translator and client in the experiment, and provides information to compare behavior of translators of the two experiment groups. Since this is process-oriented research, it is necessary to hypothesize what was happening in the translators’ minds. The researcher made use of a user-friendly screen-voice recording freeware to record subjects’ screen activities, including every word the translator typed and every change they made to the rendition, the websites they browsed and the reference tools they used, in addition to the verbalization of their thoughts throughout the process. The research observes the translation procedures subjects considered and finally adopted, and looks into the justifications for their procedures, in order to interpret their risk management. The qualitative and quantitative results of this study have some implications for translator training: (a) the experience of being a client seems to reinforce the translator’s risk aversion; (b) the use of role-playing simulation can empower students’ learning by enhancing their attitudinal or psycho-physiological competence, interpersonal competence and strategic competence; and (c) the screen-voice recordings serve as a helpful tool for learners to reflect on their rendition processes, i.e. what they performed satisfactorily and unsatisfactorily while translating and what they could do for improvement in future translation tasks.

Keywords: risk management, screen-voice recordings, simulated translator-client relations, translation pedagogy, translation process-oriented research

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Authors: Christo Februanto Putra

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This paper presents risk identification that affects investment feasibility on toll road infrastructure in Indonesia using qualitative methods survey based on the expert practitioner in investor, contractor, and state officials. The problems on infrastructure investment in Indonesia, especially on KPBU model contract, is many risk factors in the investment plan is not calculated in detail thoroughly. Risk factor is a value used to provide an overview of the risk level assessment of an event which is a function of the probability of the occurrence and the consequences of the risks that arise. As results of the survey which is to show which risk factors impacts directly to the investment feasibility and rank them by their impacts on the investment.

Keywords: risk identification, indonesia toll road, investment feasibility

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Authors: Petar Dobrev

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There is no agreed-upon definition of firm quality. While profitability and stock performance often qualify as popular proxies of quality, in this project, we aim to identify quality without relying on a firm’s financial statements or stock returns as selection criteria. Instead, we use firm-level data on management practices across small to medium-sized U.S. manufacturing firms from the World Management Survey (WMS) to measure firm quality. Each firm in the WMS dataset is assigned a mean management score from 0 to 5, with higher scores identifying better-managed firms. This management score serves as our proxy for firm quality and is the sole criteria we use to separate firms into portfolios comprised of high-quality and low-quality firms. We define high-quality (low-quality) firms as those firms with a management score of one standard deviation above (below) the mean. To study whether this proxy for firm quality can identify better-performing firms, we link this data to Compustat and The Center for Research in Security Prices (CRSP) to obtain firm-level data on financial performance and monthly stock returns, respectively. We find that from 1999 to 2019 (our sample data period), firms in the high-quality portfolio are consistently more profitable — higher operating profitability and return on equity compared to low-quality firms. In addition, high-quality firms also exhibit a lower risk of bankruptcy — a higher Altman Z-score. Next, we test whether the stocks of the firms in the high-quality portfolio earn superior risk-adjusted excess returns. We regress the monthly excess returns on each portfolio on the Fama-French 3-factor, 4-factor, and 5-factor models, the betting-against-beta factor, and the quality-minus-junk factor. We find no statistically significant differences in excess returns between both portfolios, suggesting that stocks of high-quality (well managed) firms do not earn superior risk-adjusted returns compared to low-quality (poorly managed) firms. In short, our proxy for firm quality, the WMS management score, can identify firms with superior financial performance (higher profitability and reduced risk of bankruptcy). However, our management proxy cannot identify stocks that earn superior risk-adjusted returns, suggesting no statistically significant relationship between managerial quality and stock performance.

Keywords: excess stock returns, management, profitability, quality

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Authors: Jeena R. S., Sukesh Kumar A.

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Stroke is one of the major reasons of adult disability and morbidity in many of the developing countries like India. Early diagnosis of stroke is essential for timely prevention and cure. Various conventional statistical methods and computational intelligent models have been developed for predicting the risk and outcome of stroke. This research work focuses on a multilevel approach for predicting the occurrence of stroke based on various risk factors and invasive techniques like retinal imaging. This risk prediction model can aid in clinical decision making and help patients to have an improved and reliable risk prediction.

Keywords: prediction, retinal imaging, risk factors, stroke

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Authors: Souheila Zemmouchi

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Introduction: Diabetes is currently the leading cause of end-stage chronic kidney disease and dialysis, so it adds additional complexity to the management of chronic hemodialysis patients. These patients are extremely fragile because of their multiple cardiovascular and metabolic comorbidities. Clear and complete description of the experience: the management of a diabetic on hemodialysis is particularly difficult due to frequent hypoglycaemia and significant inter and perdialyticglycemic variability that is difficult to predict. The aim of our study is to describe the clinical-biological profile and to assess the cardiovascular risk of diabetics undergoing chronic hemodialysis, and compare them with non-diabetic hemodialysis patients. Methods: This cross-sectional, descriptive, and analytical study was carried out between January 01 and December 31, 2018, involving 309 hemodialysis patients spread over 4 centersThe data were collected prospectively then compiled and analyzed by the SPSS Version 10 software The FRAMINGHAM RISK SCORE has been used to assess cardiovascular risk in all hemodialysis patients Results: The survey involved 309 hemodialysis patients, including 83 diabetics, for a prevalence of 27% The average age 53 ± 10.2 years. The sex ratio is 1.5. 50% of diabetic hemodialysis patients retained residual diuresis against 32% in non-diabetics. In the group of diabetics, we noted more hypertension (70% versus 38% non-diabetics P 0.004), more intradialytichypoglycemia (15% versus 3% non-diabetics P 0.007), initially, vascular exhaustion was found in 4 diabetics versus 2 non-diabetics. 70% of diabetics with anuria had postdialytichyperglycemia. The study found a statistically significant difference between the different levels of cardiovascular risk according to the diabetic status. Conclusion: There are many challenges in the management of diabetics on hemodialysis, both to optimize glycemic control according to an individualized target and to coordinate comprehensive and effective care.

Keywords: hemodialysis, diabetes, chronic renal failure, glycemic control

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Authors: S. Cowley, M. Lawrance, D. Bick, R. McCord

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Technology that automates manual handling (musculoskeletal disorder or MSD) risk assessments is increasingly available to ergonomists, engineers, generalist health and safety practitioners alike. The risk assessment process is generally based on the use of wearable motion sensors that capture information about worker movements for real-time or for posthoc analysis. Traditionally, MSD risk assessment is undertaken with the assistance of a checklist such as that from the SafeWork Australia code of practice, the expert assessor observing the task and ideally engaging with the worker in a discussion about the detail. Automation enables the non-expert to complete assessments and does not always require the assessor to be there. This clearly has cost and time benefits for the practitioner but is it an improvement on the assessment by the human. Human risk assessments draw on the knowledge and expertise of the assessor but, like all risk assessments, are highly subjective. The complexity of the checklists and models used in the process can be off-putting and sometimes will lead to the assessment becoming the focus and the end rather than a means to an end; the focus on risk control is lost. Automated risk assessment handles the complexity of the assessment for the assessor and delivers a simple risk score that enables decision-making regarding risk control. Being machine-based, they are objective and will deliver the same each time they assess an identical task. However, the WHS professional needs to know that this emergent technology asks the right questions and delivers the right answers. Whether it improves the risk assessment process and results or simply distances the professional from the task and the worker. They need clarity as to whether automation of manual task risk analysis and reporting leads to risk control or to a focus on the worker. Critically, they need evidence as to whether automation in this area of hazard management leads to better risk control or just a bigger collection of assessments. Practitioner experienced determinants of this automated manual task risk analysis and reporting being a benefit or distraction will address an understanding of emergent risk assessment technology, its use and things to consider when making decisions about adopting and applying these technologies.

Keywords: automated, manual-handling, risk-assessment, machine-based

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Authors: Moise A.E., State G., Tudorache M., Custură I., Enea D.N., Osman (Defta) A., Drăgotoiu D.

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This scientific paper explores risk management strategies in the food supply chain, with a focus on chicken raw materials, in the context of a company sourcing from the EU and non-EU. The aim of the paper is to adapt the requirements of international standards (IFS, BRC, QS, ITW, FSSC, ISO), proposing efficient methods to identify and remediate non-conformities and corrective and preventive actions. Defining the supply flow and acceptance steps promotes collaboration with suppliers to ensure the quality and safety of raw materials. To assess the risks of suppliers and raw materials, objective criteria are developed and vulnerabilities in the supply chain are analyzed, including the risk of fraud. Active monitoring of international alerts through RASFF helps to identify emerging risks quickly, and regular analysis of international trends and company performance enables continuous adaptation of risk management strategies. Implementing these measures strengthens food safety and consumer confidence in the final products supplied.

Keywords: food supply chain, international standards, quality and safety of raw materials, RASFF

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Authors: Niya Chen, Jennifer Chan

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In the financial market, risk management helps to minimize potential loss and maximize profit. There are two ways to assess risks; the first way is to calculate the risk directly based on the volatility. The most common risk measurements are Value at Risk (VaR), sharp ratio, and beta. Alternatively, we could look at the quantile of the return to assess the risk. Popular return models such as GARCH and stochastic volatility (SV) focus on modeling the mean of the return distribution via capturing the volatility dynamics; however, the quantile/expectile method will give us an idea of the distribution with the extreme return value. It will allow us to forecast VaR using return which is direct information. The advantage of using these non-parametric methods is that it is not bounded by the distribution assumptions from the parametric method. But the difference between them is that expectile uses a second-order loss function while quantile regression uses a first-order loss function. We consider several quantile functions, different volatility measures, and estimates from some volatility models. To estimate the expectile of the model, we use Realized Conditional Autoregressive Expectile (CARE) model with the bayesian method to achieve this. We would like to see if our proposed models outperform existing models in cryptocurrency, and we will test it by using Bitcoin mainly as well as Ethereum.

Keywords: expectile, CARE Model, CARR Model, quantile, cryptocurrency, Value at Risk

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Authors: Sameen Masood, Muhammad Ali Jibran

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

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

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Authors: Gunniga Anugkakul, Suwaree Yordchim

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The objectives were to study language learning strategies (LLSs) employed by Chinese students, and the frequency of LLSs they used, and examine the relationship between the use of LLSs and gender. The Strategy Inventory for Language Learning (SILL) by Oxford was administered to thirty-six Chinese students at Suan Sunandha Rajabhat University in Thailand. The data obtained was analyzed using descriptive statistics and chi-square tests. Three useful findings were found on the use of LLSs reported by Chinese students. First, Chinese students used overall LLSs at a high level. Second, among the six strategy groups, Chinese students employed compensation strategy most frequently and memory strategy least frequently. Third, the research results also revealed that gender had significant effect on Chinese Student’s use of overall LLSs.

Keywords: English language, language learning strategy, Chinese students, compensation strategy

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Authors: Theresa Adderley

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Background: Aside from abstinence, correct and consistent use of latex condoms is the best known effective method to reduce HIV transmission among sexually active heterosexual individuals. When condoms are correctly used, the risk of HIV transmission is reduced by approximately 85%, relative to risk when not protected during sexual intercourse. The literature provides evidence that heterosexual young adults continue to be the group among whom STI rates are highest and the group that engages in more sexual risk-taking behaviors such as inconsistent or no condom usage. This study examines condom attitudes, condom use self-efficacy and their contributions to safer sex behaviors among heterosexual men living in The Bahamas. Methods: Guided by the Theory of Planned Behavior, and a convenience sample of 185 heterosexual males (Mage= 31.95, SD = 11.35), three standardized instruments were used to assess behaviors that may not only place heterosexual males at risk for HIV infection but also their female partners. Results: The results of this study suggest that condom attitudes, and condom use self-efficacy are important in explaining 24% variance in safer sex behaviors among Bahamian men. Income (β= -.15, p < .01; condom attitudes, (β= .36, p < .01), and condom use self-efficacy (β= .1, p < .01) were significantly associated with safer sex behaviors. Conclusion: Rather than focusing only on the use of safer sex behaviors, an effective HIV prevention strategy must consider condom attitudes and condom use self-efficacy as specific variables that may contribute to perpetuating the transmission of HIV.

Keywords: condom attitudes, safer sex behaviors, HIV, condom self-efficacy

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Authors: Muhammad Hamza

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This research is based on the effect of self-questioning strategy on reading comprehension of second language learners at medium level. This research is conducted to find out the effects of self-questioning strategy and how self-questioning strategy helps English learners to improve their reading comprehension. In this research study the researcher has analyzed that how much self-questioning is effective in the field of learning second language and how much it helps second language learners to improve their reading comprehension. For this purpose, the researcher has studied different reading strategies, analyzed, collected data from certificate level class at NUML, Peshawar campus and then found out the effects of self-questioning strategy on reading comprehension of ESL learners. The researcher has randomly selected the participants from certificate class. The data was analyzed through pre-test and post-test and then in the final stage the results of both tests were compared. After the pre-test and post-test, the result of both pre-test and post-test indicated that if the learners start to use self-questioning strategy before reading a text, while reading a text and after reading a particular text there’ll be improvement in comprehension level of ESL learners. The present research has addressed the benefits of self-questioning strategy by taking two tests (pre and post-test).After the result of post-test it is revealed that the use of the self-questioning strategy has a significant effect on the readers’ comprehension thus, they can improve their reading comprehension by using self-questioning strategy.

Keywords: strategy, self-questioning, comprehension, intermediate level ESL learner

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Authors: Zhenzhong Yang

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Herbal medicines are important supplements to chemical drugs and usually consist of a complex mixture of constituents. The current quality control strategy of herbal medicines is mainly based on chemical markers, which largely failed to owe to the markers, not reflecting the herbal medicines’ multiple mechanisms of action. Herein, a bioactive chemical markers based strategy was proposed and applied to the quality assessment and control of herbal medicines. This strategy mainly includes the comprehensive chemical characterization of herbal medicines, bioactive chemical markers identification, and related quantitative analysis methods development. As a proof-of-concept, this strategy was applied to a Panax notoginseng derived herbal medicine. The bioactive chemical markers based strategy offers a rational approach for quality assessment and control of herbal medicines.

Keywords: bioactive chemical markers, herbal medicines, quality assessment, quality control

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Authors: Sumitta Sawangtook, Parichart Thano

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The purposes of research were to study the relationship between the awareness of sexual risk behaviors and sexual risk behaviors of adolescent students, and to compare the sexual risk behaviors of adolescent students by gender, education level, sweetheart’s number, achievement, sexual value, and the influence of the friendship group. The research sample of 344 sevenths through twelfth grade students in secondary school for the academic year 2014, Dindang district Bangkok was selected by simple random sampling. The research instruments are: 1) demographic questionnaire 2) evaluation form of the awareness of sexual risk behaviors 3) questionnaire about sexual value 4) questionnaire about the influence of the friendship group and 5) evaluation form of sexual risk behaviors. They were used for data collections which are subsequently analyzed by percentage, mean, standard deviation, t-test, One-way Analysis of Variances. The results of this study were presented as follow: 1) The awareness of sexual risk behaviors was negatively correlated with sexual risk behaviors of adolescent students (r=-.27, p=.000). 2) There was significant difference at .05 level in sexual risk behaviors among adolescent students who had gender difference (t=5.90, p=.000). 3) There was no significant difference at .05 level in sexual risk behaviors among adolescent students who had the different level of education (t=1.41, p=.16). 4) There was significant difference at .05 level in sexual risk behaviors among adolescent students who had the different level of sweetheart’s number (F=13.03, p=.000). 5) There was significant difference at .05 level in sexual risk behaviors among adolescent students who had the different level of achievement (F=4.77, p=.009). 6) There were significant difference at .05 level in sexual risk behaviors among adolescent students who had different level of sexual value (F=50.91, p=.000) 7) There were significant difference at .05 level in sexual risk behaviors among adolescent students who had different level of the influence of the friendship group (F=98.41, p=.000).

Keywords: the awareness of sexual risk behaviors, sexual risk behaviors, adolescent students

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Authors: Natalia M. Acevedo, Luis M. Jimenez, Erick Lambis

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Imperfections in the capital market are used to argue the relevance of the corporate risk management function. With corporate hedge, the value of the company is increased by reducing the volatility of the expected cash flow and making it possible to face a lower bankruptcy costs and financial difficulties, without sacrificing tax advantages for debt financing. With the propose to avoid exchange rate troubles over cash flows of Colombian exporting firms, this dissertation uses financial options, over exchange rate between Peso and Dollar, for realizing a financial hedge. In this study, a strategy of hedge is designed for an exporting company in Colombia with the objective of preventing fluctuations because, if the exchange rate down, the number of Colombian pesos that obtains the company by exports, is less than agreed. The exchange rate of Colombia is measured by the TRM (Representative Market Rate), representing the number of Colombian pesos for an American dollar. First, the TMR is modelled through the Geometric Brownian Motion, with this, the project price is simulated using Montecarlo simulations and finding the mean of TRM for three, six and twelve months. For financial hedging, currency options were used. The 6-month projection was covered with financial options on European-type currency with a strike price of $ 2,780.47 for each month; this value corresponds to the last value of the historical TRM. In the compensation of the options in each month, the price paid for the premium, calculated with the Black-Scholes method for currency options, was considered. Finally, with the modeling of prices and the Monte Carlo simulation, the effect of the exchange hedging with options on the exporting company was determined, this by means of the unit price estimate to which the dollars in the scenario without coverage were changed and scenario with coverage. After using the scenarios: is determinate that the TRM will have a bull trend and the exporting firm will be affected positively because they will get more pesos for each dollar. The results show that the financial options manage to reduce the exchange risk. The expected value with coverage is approximate to the expected value without coverage, but the 5% percentile with coverage is greater than without coverage. The foregoing indicates that in the worst scenarios the exporting companies will obtain better prices for the sale of the currencies if they cover.

Keywords: currency hedging, futures, geometric Brownian motion, options

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Authors: Lei Zhang, Tingting Xu, Jun He, Zhenyu Yan

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Email marketing is one of the most important segments of online marketing. It has been proved to be the most effective way to acquire and retain customers. The email content is vital to customers. Different customers may have different familiarity with a product, so a successful marketing strategy must personalize email content based on individual customers’ product affinity. In this study, we build our personalized email marketing strategy with three types of emails: nurture, promotion, and conversion. Each type of email has a different influence on customers. We investigate this difference by analyzing customers’ open rates, click rates and opt-out rates. Feature importance from response models is also analyzed. The goal of the marketing strategy is to improve the click rate on conversion-type emails. To build the personalized strategy, we formulate the problem as a reinforcement learning problem and adopt a Q-learning algorithm with variations. The simulation results show that our model-based strategy outperforms the current marketer’s strategy.

Keywords: email marketing, email content, reinforcement learning, machine learning, Q-learning

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Authors: Alfred Kamate Siviri, Angelus Mafikiri Tsongo, Jean Robert Kala Kamdjoug

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Digitalization and information systems well organized have been selected as relevant measures to mitigate operational risks within organizations. Unfortunately, information system comes with new threats that can cause severe damage and quick organization lockout. This study aims to measure perceived information system risks and their effects on operational risks within the microfinance institution in D.R. Congo. Also, the factors influencing the operational risk are identified, and the link between operational risk with other risks and performance is to be assessed. The study proposes a research model drawn on the combination of Resources-Based-View, dynamic capabilities, the agency theory, the Information System Security Model, and social theories of risk. Therefore, we suggest adopting a mixed methods research with the sole aim of increasing the literature that already exists on perceived operational risk assessment and its link with other risk and performance, a focus on IT risk.

Keywords: Democratic Republic Congo, information system risk, microfinance performance, operational risk

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Authors: Belén Vinaixa Kinnear, Arturo Hidalgo López, Bernardo Elembo Wilasi, Pablo Fernández Pérez, Cecilia Hernández Fuentealba

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The expanded use of risk assessment in legislative and corporate decision-making has increased the role of expert judgement in giving data for security-related decision-making. Expert judgements are required in most steps of risk assessment: danger recognizable proof, hazard estimation, risk evaluation, and examination of choices. This paper presents a fault tree analysis (FTA), which implies a probabilistic failure analysis applied to leakage of oil in a subsea production system. In standard FTA, the failure probabilities of items of a framework are treated as exact values while evaluating the failure probability of the top event. There is continuously insufficiency of data for calculating the failure estimation of components within the drilling industry. Therefore, fuzzy hypothesis can be used as a solution to solve the issue. The aim of this paper is to examine the leaks from the Zafiro West subsea oil facility by using fuzzy fault tree analysis (FFTA). As a result, the research has given theoretical and practical contributions to maritime safety and environmental protection. It has been also an effective strategy used traditionally in identifying hazards in nuclear installations and power industries.

Keywords: expert judgment, probability assessment, fault tree analysis, risk analysis, oil pipelines, subsea production system, drilling, quantitative risk analysis, leakage failure, top event, off-shore industry

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Authors: Pegah Farshadmanesh, Jamshid Mohammadi, Mehdi Modares

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In nearly all earthquakes of the past century that resulted in moderate to significant damage, the occurrence of postearthquake fire ignition (PEFI) has imposed a serious hazard and caused severe damage, especially in urban areas. In order to reduce the loss of life and property caused by post-earthquake fires, there is a crucial need for predictive models to estimate the PEFI risk. The parameters affecting PEFI risk can be categorized as: 1) factors influencing fire ignition in normal (non-earthquake) condition, including floor area, building category, ignitability, type of appliance, and prevention devices, and 2) earthquake related factors contributing to the PEFI risk, including building vulnerability and earthquake characteristics such as intensity, peak ground acceleration, and peak ground velocity. State-of-the-art statistical PEFI risk models are solely based on limited available earthquake data, and therefore they cannot predict the PEFI risk for areas with insufficient earthquake records since such records are needed in estimating the PEFI model parameters. In this paper, the correlation between normal condition ignition risk, peak ground acceleration, and PEFI risk is examined in an effort to offer a means for predicting post-earthquake ignition events. An illustrative example is presented to demonstrate how such correlation can be employed in a seismic area to predict PEFI hazard.

Keywords: fire risk, post-earthquake fire ignition (PEFI), risk management, seismicity

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Authors: Ferhat Demir

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Even if strategic management is highly critical for all types of organizations, only a few maturity models have been proposed in business literature for the area of strategic management activities. This paper updates previous studies and presents a new conceptual model for assessing the maturity of strategic management in any organization. Strategic management maturity model (S-3M) is basically composed of 6 maturity levels with 7 dimensions. The biggest contribution of S-3M is to put innovation into agenda of strategic management. The main objective of this study is to propose a model to align innovation with business strategies. This paper suggests that innovation (breakthrough new products/services and business models) is the only way of creating sustainable growth and strategy studies cannot ignore this aspect. Maturity models should embrace innovation to respond dynamic business environment and rapidly changing customer behaviours.

Keywords: strategic management, innovation, business model, maturity model

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Authors: Sazzad Hossain Talukder

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Survival in the competitive international market with unforeseen environmental contingencies has always been a concern of the firms that led to adopting different strategies to deal with different situations. Language strategy is considered to enhance the international performance of a firm by organizing language diversity and fostering communications within and outside the firm. Yet there is a lack of theoretical attention or model development on the role of language strategy on firm international survival. From resource dependence perspective, the adoption of language strategy and its relationship with firm survival are determined by the firm´s capability to prevent dependency concentration and/or increase relative power on the external environment. However, the impact of language strategy on firm survival is complex and multifaceted as the strategy influence firm performance indirectly through communication, coordination, learning and value creation. The evidence of various types of language strategies and different forms of firm survival also bring in complexities to understand the effects of a language strategy on the international survival of a firm. Based on language literatures and resource dependence logic, certain propositions are developed to conceptualize the relationship between language strategy and firm international survival in this conceptual paper. For the purpose of this paper, a conceptual model is proposed to examine how different kinds of language strategy foster reduction of resource dependency that lead to firm international survival in respond to local responsiveness and global integration. In this proposed model, it is theorized that language strategy has a positive relationship with the international survival of the firm, as the strategy is likely to reduce external resource dependency and increase the ability to continue independent operations both in short and long term.

Keywords: language strategy, language diversity, firm international survival, resource dependence logic

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Authors: Yusuf Garba Baba

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The construction industry and housing subsector are fraught with risks that have the potential of negatively impacting on the achievement of project objectives. The success or otherwise of most construction projects depends to large extent on how well these risks have been managed. The recent paradigm shift by the subsector to use of formal risk management approach in contrast to hitherto developed rules of thumb means that risks must not only be identified but also properly assessed and responded to in a systematic manner. The study focused on identifying risks associated with housing development projects and prioritisation assessment of the identified risks in order to provide basis for informed decision. The study used a three-step identification framework: review of literature for similar projects, expert consultation and questionnaire based survey to identify potential risk factors. Delphi survey method was employed in carrying out the relative prioritization assessment of the risks factors using computer-based Analytical Hierarchical Process (AHP) software. The results show that 19 out of the 50 risks significantly impact on housing development projects. The study concludes that although significant numbers of risk factors have been identified as having relevance and impacting to housing construction projects, economic risk group and, in particular, ‘changes in demand for houses’ is prioritised by most developers as posing a threat to the achievement of their housing development objectives. Unless these risks are carefully managed, their effects will continue to impede success in these projects. The study recommends the adoption and use of the combination of multi-technique identification framework and AHP prioritization assessment methodology as a suitable model for the assessment of risks in housing development projects.

Keywords: risk management, risk identification, risk analysis, analytic hierarchical process

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Authors: Hala A. Alrumaih

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It is widely believed that mobile device is a promising technology for lending the opportunity for the third wave of electronic commerce. Mobile devices have changed the way companies do business. Many applications are under development or being incorporated into business processes. In this day, mobile applications are a vital component of any industry strategy. One of the greatest benefits of selling merchandise and providing services on a mobile application is that it widens a company’s customer base significantly. Mobile applications are accessible to interested customers across regional and international borders in different electronic business (e-business) area. But there is a dark side to this success story. The security risks associated with mobile devices and applications are very significant. This paper introduces a broad risk analysis for the various threats, vulnerabilities, and risks in mobile e-business applications and presents some important risk mitigation approaches. It reviews and compares two different frameworks for security assurance in mobile e-business applications. Based on the comparison, the paper suggests some recommendations for applications developers and business owners in mobile e-business application development process.

Keywords: e-business, mobile applications, risk mitigations, security assurance

Procedia PDF Downloads 268