Search results for: IoT security requirements
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1981

Search results for: IoT security requirements

1921 Developing a Viral Artifact to Improve Employees’ Security Behavior

Authors: Stefan Bauer, Josef Frysak

Abstract:

According to the scientific information management literature, the improper use of information technology (e.g. personal computers) by employees are one main cause for operational and information security loss events. Therefore, organizations implement information security awareness programs to increase employees’ awareness to further prevention of loss events. However, in many cases these information security awareness programs consist of conventional delivery methods like posters, leaflets, or internal messages to make employees aware of information security policies. We assume that a viral information security awareness video might be more effective medium than conventional methods commonly used by organizations. The purpose of this research is to develop a viral video artifact to improve employee security behavior concerning information technology.

Keywords: Information Security Awareness, Delivery Methods, Viral Videos, Employee Security Behavior.

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1920 Governance, Risk Management, and Compliance Factors Influencing the Adoption of Cloud Computing in Australia

Authors: Tim Nedyalkov

Abstract:

A business decision to move to the cloud brings fundamental changes in how an organization develops and delivers its Information Technology solutions. The accelerated pace of digital transformation across businesses and government agencies increases the reliance on cloud-based services. Collecting, managing, and retaining large amounts of data in cloud environments make information security and data privacy protection essential. It becomes even more important to understand what key factors drive successful cloud adoption following the commencement of the Privacy Amendment Notifiable Data Breaches (NDB) Act 2017 in Australia as the regulatory changes impact many organizations and industries. This quantitative correlational research investigated the governance, risk management, and compliance factors contributing to cloud security success. The factors influence the adoption of cloud computing within an organizational context after the commencement of the NDB scheme. The results and findings demonstrated that corporate information security policies, data storage location, management understanding of data governance responsibilities, and regular compliance assessments are the factors influencing cloud computing adoption. The research has implications for organizations, future researchers, practitioners, policymakers, and cloud computing providers to meet the rapidly changing regulatory and compliance requirements.

Keywords: Cloud compliance, cloud security, cloud security governance, data governance, privacy protection.

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1919 Weaknesses and Strengths Analysis over Wireless Network Security Standards

Authors: Daniel Padilla, Edward Guillen

Abstract:

Several wireless networks security standards have been proposed and widely implemented in both business and home environments in order to protect the network from unauthorized access. However, the implementation of such standards is usually achieved by network administrators without even knowing the standards- weaknesses and strengths. The intention of this paper is to evaluate and analyze the impact over the network-s security due to the implementation of the wireless networks security standards WEP, WPA and WLAN 802.1X.

Keywords: 802.1X, vulnerabilities analysis, WEP, wireless security, WPA.

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1918 Enhancing the Network Security with Gray Code

Authors: Thomas Adi Purnomo Sidhi

Abstract:

Nowadays, network is an essential need in almost every part of human daily activities. People now can seamlessly connect to others through the Internet. With advanced technology, our personal data now can be more easily accessed. One of many components we are concerned for delivering the best network is a security issue. This paper is proposing a method that provides more options for security. This research aims to improve network security by focusing on the physical layer which is the first layer of the OSI model. The layer consists of the basic networking hardware transmission technologies of a network. With the use of observation method, the research produces a schematic design for enhancing the network security through the gray code converter.

Keywords: Network, network security, gray code, physical layer.

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1917 Network Based Intrusion Detection and Prevention Systems in IP-Level Security Protocols

Authors: R. Kabila

Abstract:

IPsec has now become a standard information security technology throughout the Internet society. It provides a well-defined architecture that takes into account confidentiality, authentication, integrity, secure key exchange and protection mechanism against replay attack also. For the connectionless security services on packet basis, IETF IPsec Working Group has standardized two extension headers (AH&ESP), key exchange and authentication protocols. It is also working on lightweight key exchange protocol and MIB's for security management. IPsec technology has been implemented on various platforms in IPv4 and IPv6, gradually replacing old application-specific security mechanisms. IPv4 and IPv6 are not directly compatible, so programs and systems designed to one standard can not communicate with those designed to the other. We propose the design and implementation of controlled Internet security system, which is IPsec-based Internet information security system in IPv4/IPv6 network and also we show the data of performance measurement. With the features like improved scalability and routing, security, ease-of-configuration, and higher performance of IPv6, the controlled Internet security system provides consistent security policy and integrated security management on IPsec-based Internet security system.

Keywords: IDS, IPS, IP-Sec, IPv6, IPv4, VPN.

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1916 Determinants of Information Security Affecting Adoption of Web-based Integrated Information Systems

Authors: Jaehun Joo, Mie-jung Kim, Ismatilla Normatov, Lyunhwa Kim

Abstract:

The purpose of this paper is to analyze determinants of information security affecting adoption of the Web-based integrated information systems (IIS). We introduced Web-based information systems which are designed to formulate strategic plans for Peruvian government. Theoretical model is proposed to test impact of organizational factors (deterrent efforts and severity; preventive efforts) and individual factors (information security threat; security awareness) on intentions to proactively use the Web-based IIS .Our empirical study results highlight that deterrent efforts and deterrent severity have no significant influence on the proactive use intentions of IIS, whereas, preventive efforts play an important role in proactive use intentions of IIS. Thus, we suggest that organizations need to do preventive efforts by introducing various information security solutions, and try to improve information security awareness while reducing the perceived information security threats.

Keywords: Information security, Deterrent efforts, deterrentseverity, preventive efforts, information security awareness, information security threats, integrated information systems

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1915 Mechanisms of Internet Security Attacks

Authors: J. Dubois, P. Jreije

Abstract:

Internet security attack could endanger the privacy of World Wide Web users and the integrity of their data. The attack can be carried out on today's most secure systems- browsers, including Netscape Navigator and Microsoft Internet Explorer. There are too many types, methods and mechanisms of attack where new attack techniques and exploits are constantly being developed and discovered. In this paper, various types of internet security attack mechanisms are explored and it is pointed out that when different types of attacks are combined together, network security can suffer disastrous consequences.

Keywords: DoS, internet attacks, router attack, security, trojan, virus, worm, XSS.

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1914 User Requirements Analysis for the Development of Assistive Navigation Mobile Apps for Blind and Visually Impaired People

Authors: Paraskevi Theodorou, Apostolos Meliones

Abstract:

In the context of the development process of two assistive navigation mobile apps for blind and visually impaired people (BVI) an extensive qualitative analysis of the requirements of potential users has been conducted. The analysis was based on interviews with BVIs and aimed to elicit not only their needs with respect to autonomous navigation but also their preferences on specific features of the apps under development. The elicited requirements were structured into four main categories, namely, requirements concerning the capabilities, functionality and usability of the apps, as well as compatibility requirements with respect to other apps and services. The main categories were then further divided into nine sub-categories. This classification, along with its content, aims to become a useful tool for the researcher or the developer who is involved in the development of digital services for BVI.

Keywords: Accessibility, assistive mobile apps, blind and visually impaired people, user requirements analysis.

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1913 Blockchain Security in MANETs

Authors: Nada Mouchfiq, Ahmed Habbani, Chaimae Benjbara

Abstract:

The security aspect of the IoT occupies a place of great importance especially after the evolution that has known this field lastly because it must take into account the transformations and the new applications .Blockchain is a new technology dedicated to the data sharing. However, this does not work the same way in the different systems with different operating principles. This article will discuss network security using the Blockchain to facilitate the sending of messages and information, enabling the use of new processes and enabling autonomous coordination of devices. To do this, we will discuss proposed solutions to ensure a high level of security in these networks in the work of other researchers. Finally, our article will propose a method of security more adapted to our needs as a team working in the ad hoc networks, this method is based on the principle of the Blockchain and that we named ”MPR Blockchain”.

Keywords: Ad hoc networks, blockchain, MPR, security.

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1912 Individual Configuration of Production Control to Suit Requirements

Authors: Ben Muenzberg, Prof. Peter Nyhuis

Abstract:

The logistical requirements placed on industrial manufacturing companies are steadily increasing. In order to meet those requirements, a consistent and efficient concept is necessary for production control. Set up properly, production control offers considerable potential with respect to achieving the logistical targets. As experience with the many production control methods already in existence and their compatibility is, however, often inadequate, this article describes a systematic approach to the configuration of production control based on the Lödding model. This model enables production control to be set up individually to suit a company and the requirements. It therefore permits today-s demands regarding logistical performance to be met.

Keywords: Production, planning, control, configuration.

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1911 Human Security Providers in Fragile State under Asymmetric War Conditions

Authors: Luna Shamieh

Abstract:

Various players are part of the game in an asymmetric war, all making efforts to provide human security to their own adherents. Although a fragile state is not able to provide sufficient and comprehensive services, it still provides special services and security to the elite; the insurgents as well provide services and security to their associates. The humanitarian organisations, on the other hand, provide some fundamental elements of human security, but only in the regions, they are able to access when possible (if possible). The counterinsurgents (security forces of the state and intervention forces) operate within a narrow band defined by the vision of the responsibility to protect and the perspective of the resolution of the conflict through combat; hence, the possibility to provide human security is shaken at this end. This article examines how each player provides human security from the perspective of freedom from want in order to secure basic and strategic needs, freedom from fear through providing protection against all kinds of violence, and the freedom to live in dignity. It identifies a vicious cycle caused by the intervention of the different players causing a centrifugal force that may lead to disintegration of the nation under war.

Keywords: Human security, asymmetric war, counter insurgency, fragile state, insurgency.

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1910 The Application of the Security Audit Method on the Selected Objects of Critical Infrastructure

Authors: Michaela Vašková

Abstract:

The paper is focused on the application of the security audit method on the selected objects of the critical infrastructure. The emphasis is put on security audit method to find gaps in the critical infrastructure security. The theoretical part describes objects of the critical infrastructure. The practical part describes using of the security audit method. The main emphasis was put on the protection of the critical infrastructure in the Czech Republic.

Keywords: Crisis management, critical infrastructure, object of critical infrastructure, security audit, extraordinary event.

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1909 The Law of Treaties and National Security of Islamic Republic of Iran

Authors: S. M. Tavakoli Sani, M. Sabbet Moghadam, Y. Khorram Farhadi, Iraj Rezayi Nejad

Abstract:

The concept of national security in Iran is a permanently effective factor in acceptance or rejection of many international obligations. These obligations had been defined according to the type of legislation of Iran in many aspects. Therefore, there are several treaties at international level which requires Iran’s security to come in contact with obligations in these treaties in a way that an obstacle to join to them and their passage in parliament. This issue is a typical category which every country pays attention to be accepted in treaties or to include their national security in that treaties and also they can see the related treaties from this perspective, but this issue that 'what is the concept of Iran’s national security', and 'To what extent it is changed in recent years, especially after Islamic Revolution' are important issues that can be criticized. Thus, this study is trying to assess singed treaties from the perspective of Iran’s national security according of the true meaning of treaty and to investigate how the international treaties may be in conflict with Iran’s national security.

Keywords: Treaties, national security, Iran, Islamic Revolution.

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1908 Security Management System of Cellular Communication: Case Study

Authors: Othman O. Khalifa, Abdulrazzag Aburas, A. Al Bagul, Meftah Hrairi, Muhammad Shahril bin Shahbuddin, Harman bin Mat Kasa

Abstract:

Cellular communication is being widely used by all over the world. The users of handsets are increasing due to the request from marketing sector. The important aspect that has to be touch in this paper is about the security system of cellular communication. It is important to provide users with a secure channel for communication. A brief description of the new GSM cellular network architecture will be provided. Limitations of cellular networks, their security issues and the different types of attacks will be discussed. The paper will go over some new security mechanisms that have been proposed by researchers. Overall, this paper clarifies the security system or services of cellular communication using GSM. Three Malaysian Communication Companies were taken as Case study in this paper.

Keywords: GSM, Security systems, SIM CARD, IMSI, Authentication.

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1907 SeCloudBPMN: A Lightweight Extension for BPMN Considering Security Threats in the Cloud

Authors: Somayeh Sobati Moghadam

Abstract:

Business processes are crucial for organizations and help businesses to evaluate and optimize their performance and processes against current and future-state business goals. Outsourcing business processes to the cloud becomes popular due to a wide varsity of benefits and cost-saving. However, cloud outsourcing raises enterprise data security concerns, which must be incorporated in Business Process Model and Notation (BPMN). This paper, presents SeCloudBPMN, a lightweight extension for BPMN which extends the BPMN to explicitly support the security threats in the cloud as an outsourcing environment. SeCloudBPMN helps business’s security experts to outsource business processes to the cloud considering different threats from inside and outside the cloud. In this way, appropriate security countermeasures could be considered to preserve data security in business processes outsourcing to the cloud.

Keywords: BPMN, security threats, cloud computing, graphical representation.

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1906 A Review in Recent Development of Network Threats and Security Measures

Authors: Roza Dastres, Mohsen Soori

Abstract:

Networks are vulnerable devices due to their basic feature of facilitating remote access and data communication. The information in the networks needs to be kept secured and safe in order to provide an effective communication and sharing device in the web of data. Due to challenges and threats of the data in networks, the network security is one of the most important considerations in information technology infrastructures. As a result, the security measures are considered in the network in order to decrease the probability of accessing the secured data by the hackers. The purpose of network security is to protect the network and its components from unauthorized access and abuse in order to provide a safe and secured communication device for the users. In the present research work a review in recent development of network threats and security measures is presented and future research works are also suggested. Different attacks to the networks and security measured against them are discussed in order to increase security in the web of data. So, new ideas in the network security systems can be presented by analyzing the published papers in order to move forward the research field.

Keywords: Network threats, network security, security measures, firewalls.

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1905 Analysis of Public-Key Cryptography for Wireless Sensor Networks Security

Authors: F. Amin, A. H. Jahangir, H. Rasifard

Abstract:

With the widespread growth of applications of Wireless Sensor Networks (WSNs), the need for reliable security mechanisms these networks has increased manifold. Many security solutions have been proposed in the domain of WSN so far. These solutions are usually based on well-known cryptographic algorithms. In this paper, we have made an effort to survey well known security issues in WSNs and study the behavior of WSN nodes that perform public key cryptographic operations. We evaluate time and power consumption of public key cryptography algorithm for signature and key management by simulation.

Keywords: Wireless Sensor Networks, Security, Public Key Cryptography, Key Management.

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1904 Development of Non-functional Requirements for Decision Support Systems

Authors: Kassem Saleh

Abstract:

Decision Support System (DSS) are interactive software systems that are built to assist the management of an organization in the decision making process when faced with nonroutine problems in a specific application domain. Non-functional requirements (NFRs) for a DSS deal with the desirable qualities and restrictions that the DSS functionalities must satisfy. Unlike the functional requirements, which are tangible functionalities provided by the DSS, NFRs are often hidden and transparent to DSS users but affect the quality of the provided functionalities. NFRs are often overlooked or added later to the system in an ad hoc manner, leading to a poor overall quality of the system. In this paper, we discuss the development of NFRs as part of the requirements engineering phase of the system development life cycle of DSSs. To help eliciting NFRs, we provide a comprehensive taxonomy of NFRs for DSSs.

Keywords: Decision support system, Development, Elicitation, Non-functional requirements, Taxonomy

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1903 A Holistic Framework for Unifying Data Security and Management in Modern Enterprises

Authors: Ashly Joseph

Abstract:

Modern businesses struggle significantly to secure and manage their data properly as the volume and complexity of their data both expand exponentially. Through the use of a multi-layered defense strategy, a centralized management platform, and cutting-edge technologies like AI, this research paper presents a comprehensive framework to integrate data security and management. The constraints of current data protection and management strategies, technological advancements, and the evolving threat landscape are all examined in this article. It suggests best practices for putting into practice integrated data security and governance models, placing an emphasis on ongoing adaptation. The advantages mentioned include a strengthened security posture, simpler procedures, lower costs, and reduced complexity. Additionally, issues including skill shortages, antiquated systems, and cultural obstacles are examined. Security executives and Chief Information Security Officers are given practical advice on how to evaluate, plan, and put into place strong data-centric security and management capabilities. The goal of the paper is to provide a thorough study of the data security and management landscape and to arm contemporary businesses with the knowledge they need to be proactive in protecting their data assets.

Keywords: Data security, security management, cloud computing, cybersecurity, data governance, security architecture, data management.

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1902 The Interpretation of World Order by Epistemic Communities in Security Studies

Authors: Gabriel A. Orozco

Abstract:

The purpose of this article is to make an approach to the Security Studies, exposing their theories and concepts to understand the role that they have had in the interpretation of the changes and continuities of the world order and their impact on policies in facing the problems of the 21st century. The aim is to build a bridge between the security studies as a subfield and the meaning that has been given to the world order. The idea of epistemic communities serves as a methodological proposal for the different programs of research in security studies, showing their influence in the realities of States, intergovernmental organizations and transnational forces, moving to implement, perpetuate and project a vision of the world order.

Keywords: Epistemic communities, international relations, security studies.

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1901 Inadequate Requirements Engineering Process: A Key Factor for Poor Software Development in Developing Nations: A Case Study

Authors: K. Adu Michael, K. Alese Boniface

Abstract:

Developing a reliable and sustainable software products is today a big challenge among up–coming software developers in Nigeria. The inability to develop a comprehensive problem statement needed to execute proper requirements engineering process is missing. The need to describe the ‘what’ of a system in one document, written in a natural language is a major step in the overall process of Software Engineering. Requirements Engineering is a process use to discover, analyze and validate system requirements. This process is needed in reducing software errors at the early stage of the development of software. The importance of each of the steps in Requirements Engineering is clearly explained in the context of using detailed problem statement from client/customer to get an overview of an existing system along with expectations from the new system. This paper elicits inadequate Requirements Engineering principle as the major cause of poor software development in developing nations using a case study of final year computer science students of a tertiary-education institution in Nigeria.

Keywords: Client/Customer, Problem Statement, Requirements Engineering, Software Developers.

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1900 Evaluation Method for Information Security Levels of CIIP (Critical Information Infrastructure Protection)

Authors: Soon-Tai Park, Jong-Whoi Shin, Bog-Ki Min, Ik-Sub Lee, Gang-Shin Lee, Jae-Il Lee

Abstract:

As the information age matures, major social infrastructures such as communication, finance, military and energy, have become ever more dependent on information communication systems. And since these infrastructures are connected to the Internet, electronic intrusions such as hacking and viruses have become a new security threat. Especially, disturbance or neutralization of a major social infrastructure can result in extensive material damage and social disorder. To address this issue, many nations around the world are researching and developing various techniques and information security policies as a government-wide effort to protect their infrastructures from newly emerging threats. This paper proposes an evaluation method for information security levels of CIIP (Critical Information Infrastructure Protection), which can enhance the security level of critical information infrastructure by checking the current security status and establish security measures accordingly to protect infrastructures effectively.

Keywords: Information Security Evaluation Methodology, Critical Information Infrastructure Protection.

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1899 Security Strengths and Weaknesses of Blockchain Smart Contract System: A Survey

Authors: Malaw Ndiaye, Karim Konate

Abstract:

Smart contracts are computer protocols that facilitate, verify, and execute the negotiation or execution of a contract, or that render a contractual term unnecessary. Blockchain and smart contracts can be used to facilitate almost any financial transaction. Thanks to these smart contracts, the settlement of dividends and coupons could be automated. Smart contracts have become lucrative and profitable targets for attackers because they can hold a great amount of money. Smart contracts, although widely used in blockchain technology, are far from perfect due to security concerns. Although a series of attacks are listed, there is a lack of discussions and proposals on improving security. This survey takes stock of smart contract security from a more comprehensive perspective by correlating the level of vulnerability and systematic review of security levels in smart contracts.

Keywords: Blockchain, bitcoin, smart Contract, criminal smart contract, security.

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1898 A Comparative Study of Fine Grained Security Techniques Based on Data Accessibility and Inference

Authors: Azhar Rauf, Sareer Badshah, Shah Khusro

Abstract:

This paper analyzes different techniques of the fine grained security of relational databases for the two variables-data accessibility and inference. Data accessibility measures the amount of data available to the users after applying a security technique on a table. Inference is the proportion of information leakage after suppressing a cell containing secret data. A row containing a secret cell which is suppressed can become a security threat if an intruder generates useful information from the related visible information of the same row. This paper measures data accessibility and inference associated with row, cell, and column level security techniques. Cell level security offers greatest data accessibility as it suppresses secret data only. But on the other hand, there is a high probability of inference in cell level security. Row and column level security techniques have least data accessibility and inference. This paper introduces cell plus innocent security technique that utilizes the cell level security method but suppresses some innocent data to dodge an intruder that a suppressed cell may not necessarily contain secret data. Four variations of the technique namely cell plus innocent 1/4, cell plus innocent 2/4, cell plus innocent 3/4, and cell plus innocent 4/4 respectively have been introduced to suppress innocent data equal to 1/4, 2/4, 3/4, and 4/4 percent of the true secret data inside the database. Results show that the new technique offers better control over data accessibility and inference as compared to the state-of-theart security techniques. This paper further discusses the combination of techniques together to be used. The paper shows that cell plus innocent 1/4, 2/4, and 3/4 techniques can be used as a replacement for the cell level security.

Keywords: Fine Grained Security, Data Accessibility, Inference, Row, Cell, Column Level Security.

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1897 Efficient Pipelined Hardware Implementation of RIPEMD-160 Hash Function

Authors: H. E. Michail, V. N. Thanasoulis, G. A. Panagiotakopoulos, A. P. Kakarountas, C. E. Goutis

Abstract:

In this paper an efficient implementation of Ripemd- 160 hash function is presented. Hash functions are a special family of cryptographic algorithms, which is used in technological applications with requirements for security, confidentiality and validity. Applications like PKI, IPSec, DSA, MAC-s incorporate hash functions and are used widely today. The Ripemd-160 is emanated from the necessity for existence of very strong algorithms in cryptanalysis. The proposed hardware implementation can be synthesized easily for a variety of FPGA and ASIC technologies. Simulation results, using commercial tools, verified the efficiency of the implementation in terms of performance and throughput. Special care has been taken so that the proposed implementation doesn-t introduce extra design complexity; while in parallel functionality was kept to the required levels.

Keywords: Hardware implementation, hash functions, Ripemd-160, security.

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1896 An Automation of Check Focusing on CRUD for Requirements Analysis Model in UML

Authors: Shinpei Ogata, Yoshitaka Aoki, Hirotaka Okuda, Saeko Matsuura

Abstract:

A key to success of high quality software development is to define valid and feasible requirements specification. We have proposed a method of model-driven requirements analysis using Unified Modeling Language (UML). The main feature of our method is to automatically generate a Web user interface mock-up from UML requirements analysis model so that we can confirm validity of input/output data for each page and page transition on the system by directly operating the mock-up. This paper proposes a support method to check the validity of a data life cycle by using a model checking tool “UPPAAL" focusing on CRUD (Create, Read, Update and Delete). Exhaustive checking improves the quality of requirements analysis model which are validated by the customers through automatically generated mock-up. The effectiveness of our method is discussed by a case study of requirements modeling of two small projects which are a library management system and a supportive sales system for text books in a university.

Keywords: CRUD, Model Checking, Model Driven Development, Requirements Analysis, Unified Modeling Language, UPPAAL.

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1895 Knowledge Audit Model for Requirement Elicitation Process

Authors: Laleh Taheri, Noraini C. Pa., Rusli Abdullah, Salfarina Abdullah

Abstract:

Knowledge plays an important role to the success of any organization. Software development organizations are highly knowledge-intensive organizations especially in their requirement elicitation process (REP). There are several problems regarding communicating and using the knowledge in REP such as misunderstanding, being out of scope, conflicting information and changes of requirements. All of these problems occurred in transmitting the requirements knowledge during REP. Several researches have been done in REP in order to solve the problem towards requirements. Knowledge Audit (KA) approaches were proposed in order to solve managing knowledge in human resources, financial and manufacturing. There is lack of study applying the KA in requirements elicitation process. Therefore, this paper proposes a KA model for REP in supporting to acquire good requirements.

Keywords: Knowledge Audit, Requirement Elicitation Process, KA Model, Knowledge in Requirement Elicitation.

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1894 A Watermarking Signature Scheme with Hidden Watermarks and Constraint Functions in the Symmetric Key Setting

Authors: Yanmin Zhao, Siu Ming Yiu

Abstract:

To claim the ownership for an executable program is a non-trivial task. An emerging direction is to add a watermark to the program such that the watermarked program preserves the original program’s functionality and removing the watermark would heavily destroy the functionality of the watermarked program. In this paper, the first watermarking signature scheme with the watermark and the constraint function hidden in the symmetric key setting is constructed. The scheme uses well-known techniques of lattice trapdoors and a lattice evaluation. The watermarking signature scheme is unforgeable under the Short Integer Solution (SIS) assumption and satisfies other security requirements such as the unremovability security property.

Keywords: Short integer solution problem, signatures, the symmetric-key setting, watermarking schemes.

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1893 Does the Polysemic Nature of Energy Security Make it a 'Wicked' Problem?

Authors: Lynne Chester

Abstract:

Governments around the world are expending considerable time and resources framing strategies and policies to deliver energy security. The term 'energy security' has quietly slipped into the energy lexicon without any meaningful discourse about its meaning or assumptions. An examination of explicit and inferred definitions finds that the concept is inherently slippery because it is polysemic in nature having multiple dimensions and taking on different specificities depending on the country (or continent), timeframe or energy source to which it is applied. But what does this mean for policymakers? Can traditional policy approaches be used to address the problem of energy security or does its- polysemic qualities mean that it should be treated as a 'wicked' problem? To answer this question, the paper assesses energy security against nine commonly cited characteristics of wicked policy problems and finds strong evidence of 'wickedness'.

Keywords: Energy security, policy making, wicked problems.

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1892 The Influence of EU Regulation of Margin Requirements on Market Stock Volatility

Authors: Nadira Kaimova

Abstract:

In this paper it was examined the influence of margin regulation on stock market volatility in EU 1993 – 2014. Regulating margin requirements or haircuts for securities financing transactions has for a long time been considered as a potential tool to limit the build-up of leverage and dampen volatility in financial markets. The margin requirement dictates how much investors can borrow against these securities. Margin can be an important part of investment. Using daily and monthly stock returns and there is no convincing evidence that EU Regulation margin requirements have served to dampen stock market volatility. In this paper was detected the expected negative relation between margin requirements and the amount of margin credit outstanding. Also, it confirmed that changes in margin requirements by the EU regulation have tended to follow than lead changes in market volatility. For the analysis have been used the modified Levene statistics to test whether the standard deviation of stock returns in the 25, 50 and 100 days preceding margin changes is the same as that in the succeeding 25, 50 and 100 days. The analysis started in May 1993 when it was first empowered to set the initial margin requirement and the last sample was in May 2014. To test whether margin requirements influence stock market volatility over the long term, the sample of stock returns was divided into 14 periods, according to the 14 changes in margin requirements.

Keywords: Levene statistic, Margin Regulation, Stock Market, Volatility.

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