Search results for: key risk indicators

Authors: Hichem Omrani, Philippe Gerber, Patrick Bousch

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The problem of Small Area Estimation (SAE) is complex because of various information sources and insufficient data. In this paper, an approach for SAE is presented for decision-making at national, regional and local level. We propose an Empirical Best Linear Unbiased Predictor (EBLUP) as an estimator in order to combine several information sources to evaluate various indicators. First, we present the urban audit project and its environmental, social and economic indicators. Secondly, we propose an approach for decision making in order to estimate indicators. An application is used to validate the theoretical proposal. Finally, a decision support system is presented based on open-source environment.

Keywords: Small area estimation, statistical method, sampling, empirical best linear unbiased predictor (EBLUP), decision-making.

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Authors: Anders Thorsèn, Behrooz Sangchoolie, Peter Folkesson, Ted Strandberg

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As more parts of the power grid become connected to the internet, the risk of cyberattacks increases. To identify the cybersecurity threats and subsequently reduce vulnerabilities, the common practice is to carry out a cybersecurity risk assessment. For safety classified systems and products, there is also a need for safety risk assessments in addition to the cybersecurity risk assessment to identify and reduce safety risks. These two risk assessments are usually done separately, but since cybersecurity and functional safety are often related, a more comprehensive method covering both aspects is needed. Some work addressing this has been done for specific domains like the automotive domain, but more general methods suitable for, e.g., Intelligent Distributed Grids, are still missing. One such method from the automotive domain is the Security-Aware Hazard Analysis and Risk Assessment (SAHARA) method that combines safety and cybersecurity risk assessments. This paper presents an approach where the SAHARA method has been modified to be more suitable for larger distributed systems. The adapted SAHARA method has a more general risk assessment approach than the original SAHARA. The proposed method has been successfully applied on two use cases of an intelligent distributed grid.

Keywords: Intelligent distribution grids, threat analysis, risk assessment, safety, cybersecurity.

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Authors: Ehsan Bashiri

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A 7-step method (with 25 sub-steps) to assess risk of air pollutants is introduced. These steps are: pre-considerations, sampling, statistical analysis, exposure matrix and likelihood, doseresponse matrix and likelihood, total risk evaluation, and discussion of findings. All mentioned words and expressions are wellunderstood; however, almost all steps have been modified, improved, and coupled in such a way that a comprehensive method has been prepared. Accordingly, the SADRA (Statistical Analysis-Driven Risk Assessment) emphasizes extensive and ongoing application of analytical statistics in traditional risk assessment models. A Sulfur Dioxide case study validates the claim and provides a good illustration for this method.

Keywords: Criteria air pollutants, Matrix of risk, Riskassessment, Statistical analysis.

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Authors: Aparna Viswanath

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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as nonstorability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.

Keywords: Financial Derivatives, Forward, Futures, Options, Risk Management.

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Authors: Daniel F. García, Adrián Fernández

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Today, computer systems are more and more complex and support growing security risks. The security managers need to find effective security risk assessment methodologies that allow modeling well the increasing complexity of current computer systems but also maintaining low the complexity of the assessment procedure. This paper provides a brief analysis of common security risk assessment methodologies leading to the selection of a proper methodology to fulfill these requirements. Then, a detailed analysis of the most effective methodology is accomplished, presenting numerical examples to demonstrate how easy it is to use.

Keywords: Computer security, qualitative and quantitative methods, risk assessment methodologies, security risk assessment.

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Authors: Chih-Hsiang Chang, Fang-Jyun Su

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This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.

Keywords: Stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship.

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Authors: Francesca Affortunato, Edgardo Bucciarelli, Mariateresa Ciommi, Gianfranco Giulioni

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The paper represents a reflection on how to select proper indicators to assess the progress of regional contexts towards a knowledge-based society. Taking the first research methodologies elaborated at an international level (World Bank, OECD, etc.) as a reference point, this work intends to identify a set of indicators of the knowledge economy suitable to adequately understand in which manner and to which extent the territorial development dynamics are correlated with the knowledge-base of the considered local society. After a critical survey of the variables utilized within other approaches adopted by international or national organizations, this paper seeks to elaborate a framework of variables, named Regional Knowledge Economy Indicators (ReKEI), necessary to describe the knowledge-based relations of subnational socio-economic contexts. The realization of this framework has a double purpose: an analytical one consisting in highlighting the regional differences in the governance of knowledge based processes, and an operative one consisting in providing some reference parameters for contributing to increasing the effectiveness of those economic policies aiming at enlarging the knowledge bases of local societies.

Keywords: Knowledge economy, knowledge society, information society, regional innovation system, territorial competitiveness, local development.

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Authors: Nina V. Zaitseva, Pavel Z. Shur, Nina G. Atiskova

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Nowadays harmonization of sanitary and hygienic standards of environmental quality with international standards is crucial part of integration of Russia into the international community. Harmonization of Russian and international ambient air quality standards may be realized by risk-based standards development. In this paper approaches to risk-based standards development and examples of these approaches implementation are presented.

Keywords: Harmonization, health risk assessment, evolutionary modelling, benchmark level, nickel, manganese.

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Authors: Eberechi Weli, Michael Todinov

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The gap between the selection of risk-reduction options in the railway industry and the task of their effective implementation results in compromised safety and substantial losses. An effective risk management must necessarily integrate the evaluation phases with the implementation phase. This paper proposes an essential categorisation of risk reduction measures that best addresses a standard railway industry portfolio. By categorising the risk reduction options into design, operational, procedural and technical options, it is guaranteed that the efforts of the implementation facilitators (people, processes and supporting systems) are systematically harmonised. The classification is based on an integration of fundamental principles of risk reduction in the railway industry with the systems engineering approach.

This paper argues that the use of a similar classification approach is an attribute of organisations possessing a superior level of risk-reduction readiness. The integration of the proposed rational classification structure provides a solid ground for effective risk reduction.

Keywords: Cost effectiveness, organisational readiness, risk reduction, railway, system engineering.

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Authors: Fong-Woon Lai

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The risk sphere in business is fast changing and expanding. Almost anything has become a risk factor that will have potent, direct, and far reaching impacts on business. This paper examines the intensity of enterprise risk management (ERM) practices among the Malaysian public listed companies. The paper espouses a ERM framework comprising fourteen important implementation elements and processes. Results of the analysis indicate that the intensity of ERM implementation among the respondents is in the ‘good’ category of the semantic scale, which is deemed encouraging vis-à-vis the country’s regulatory regime.

Keywords: Enterprise risk management, implementation framework, ERM practices.

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Authors: Preeda Sansakorn, Min An

Abstract:

In order to be capable of dealing with uncertainties, subjectivities, including vagueness arising in building construction projects, the application of fuzzy reasoning technique based on fuzzy set theory is proposed. This study contributes significantly to the development of a fuzzy reasoning safety risk assessment model for building construction projects that could be employed to assess the risk magnitude of each hazardous event identified during construction, and a third parameter of probability of consequence is incorporated in the model. By using the proposed safety risk analysis methodology, more reliable and less ambiguities, which provide the safety risk management project team for decision-making purposes.

Keywords: Safety risks assessment, building construction safety, fuzzy reasoning, construction risk assessment model, building construction projects.

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Authors: A.Roshandel, N.Hedayat, H.kiamanesh

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The one of most important objects in implementation of damage analysis observations is manner of dam break wave propagation. In this paper velocity and wave height due dam break in with and without tailwater states for appointment hazardous lands and flood radius are investigate. In order to modeling above phenomenon finite volume method of Roe type for solving shallow water equations is used. Results indicated that in the dry bed state risk radius due to dam break is too high. While in the wet bed risk radius has a less wide. Therefore in the first state constructions and storage facilities are encountered with destruction risk. Further velocity due to dam break in the second state is more comparing to the first state. Hence erosion and scour the river bed in the dry bed is too more compare to the wet bed.

Keywords: Dam break, finite volume method, tailwater, risk radius, scour

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Authors: Huei-Wen Lin

Abstract:

This paper is to clarify the relationship of individual investor types, risk tolerance and herding bias. The questionnaire survey investigation is conducted to collect 389 valid and voluntary individual investors and to examine how the risk tolerance plays as a mediator between four types of personality and herding bias. Based on featuring BB&K model and reviewing the prior literature of psychology, a linear structural model are constructed and further used to evaluate the path of herding formation through the analysis of Structural Equation Modeling (SEM). The results showed that more impetuous investors would be prone to herding bias directly, but rather exhibit higher risk tolerance. However, risk tolerance would fully mediate between the level of confidence (i.e., confident or anxious) and herding bias, but not mediate between the method of action (careful or impetuous) for individual investors.

Keywords: Herding, investor types, risk tolerance.

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Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb

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Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian Stock Exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews, face to face, phone, and video-conferencing, using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the EGX30, mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & key performance indicators (KPIs), and the information intensity expertise of the chief information officers (CIOs) have a significant impact on ITG implementation within the firms.

Keywords: Effective IT governance, Egyptian Market, information security, risk controls.

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Authors: Youngseok Lee, Dongjin Chung, Youngjin Kim

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R&D risk management has been suggested as one of the management approaches for accomplishing the goals of public R&D investment. The investment in basic science and core technology development is the essential roles of government for securing the social base needed for continuous economic growth. And, it is also an important role of the science and technology policy sectors to generate a positive environment in which the outcomes of public R&D can be diffused in a stable fashion by controlling the uncertainties and risk factors in advance that may arise during the application of such achievements to society and industry. Various policies have already been implemented to manage uncertainties and variables that may have negative impact on accomplishing public R& investment goals. But we may derive new policy measures for complementing the existing policies and for exploring progress direction by analyzing them in a policy package from the viewpoint of R&D risk management.

Keywords: Risk management, Public R&D policy, Science andtechnology policy, Performance management.

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Authors: Mitsuhiro Taniyama, Yuu Hidaka, Masato Arai, Satoshi Kai, Hiromi Igawa, Hiroshi Yajima, Ryoichi Sasaki

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Along with the progress of our information society, various risks are becoming increasingly common, causing multiple social problems. For this reason, risk communications for establishing consensus among stakeholders who have different priorities have become important. However, it is not always easy for the decision makers to agree on measures to reduce risks based on opposing concepts, such as security, privacy and cost. Therefore, we previously developed and proposed the “Multiple Risk Communicator" (MRC) with the following functions: (1) modeling the support role of the risk specialist, (2) an optimization engine, and (3) displaying the computed results. In this paper, MRC program version 1.0 is applied to the personal information leakage problem. The application process and validation of the results are discussed.

Keywords: Decision Making, Personal Information Leakage Problem, Risk Communication, Risk Management

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Authors: Sadovska V.

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The progress of concentrations of particular heavy metals was assessed in chosen localities in region Moravia, the Czech Republic, from 2007 to 2009. Particular metals were observed in localities with various types and characterization of zone. Pb, Ni, As and Cd were emphasized as a result of their toxicity and potential adverse health effect to the exposed population. The progress of metal concentrations and their health effects in the most polluted localities were examined. According to the results, the air pollution limit values were not exceeded. Based on the health risk assessment, the probability of developing tumorous diseases is acceptable, except for the increased probability of cancer risk from long-term exposure to As.

Keywords: Air pollution, heavy metals, health risk assessment, individual lifetime cancer risk

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Authors: L. Lindsay, S. A. Coleman, D. Kerr, B. J. Taylor, A. Moorhead

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Cognitive decline and frailty is apparent in older adults leading to an increased likelihood of the risk of falling. Currently health care professionals have to make professional decisions regarding such risks, and hence make difficult decisions regarding the future welfare of the ageing population. This study uses health data from The Irish Longitudinal Study on Ageing (TILDA), focusing on adults over the age of 50 years, in order to analyse health risk factors and predict the likelihood of falls. This prediction is based on the use of machine learning algorithms whereby health risk factors are used as inputs to predict the likelihood of falling. Initial results show that health risk factors such as long-term health issues contribute to the number of falls. The identification of such health risk factors has the potential to inform health and social care professionals, older people and their family members in order to mitigate daily living risks.

Keywords: Classification, falls, health risk factors, machine learning, older adults.

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Authors: Mária Hudáková, Mária Lusková

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This report is focused on widening the theoretical knowledge as well as controlling practical application from the risk management point of view, regarding to dynamic business changes that have occurred in Slovakia which recently has been considered to be an environment full of risk and uncertainty. The idea of the report is the proposal of the controlling operation model in the course of risk management process in an enterprise operating in Slovakia, by which the controller is able to identify early risk factors in suggested major areas of the business management upon appropriate business information integration, consecutive control and prognoses and to prepare in time full-value documents in order to suggest measures for reduction thereof. Dealing with risk factors, that can quickly limit the growth potential of the enterprise, is an essential part of managerial activities on each level. This is the reason why mutual unofficial, ergo collegial cooperation of individual departments is necessary for controlling application from the business risk management point of view. An important part of the report is elaborated survey of the most important risk factors existing in major management areas of enterprises operating in Slovakia. The outcome of the performed survey is a catalogue of the most important enterprise risk factors. The catalogue serves for better understanding risk factors affecting the Slovak enterprises, their importance and evaluation.

Keywords: Controlling, information system, risks management, risk factor, crisis of enterprise.

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Authors: P. Moeinzadeh, A. Hajfathaliha

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Many firms implemented various initiatives such as outsourced manufacturing which could make a supply chain (SC) more vulnerable to various types of disruptions. So managing risk has become a critical component of SC management. Different types of SC vulnerability management methodologies have been proposed for managing SC risk, most offer only point-based solutions that deal with a limited set of risks. This research aims to reinforce SC risk management by proposing an integrated approach. SC risks are identified and a risk index classification structure is created. Then we develop a SC risk assessment approach based on the analytic network process (ANP) and the VIKOR methods under the fuzzy environment where the vagueness and subjectivity are handled with linguistic terms parameterized by triangular fuzzy numbers. By using FANP, risks weights are calculated and then inserted to the FVIKOR to rank the SC members and find the most risky partner.

Keywords: Analytic network process (ANP), Fuzzy sets, Supply chain risk management (SCRM), VIšekriterijumsko KOmpromisno Rangiranje (VIKOR)

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Authors: Hossein Amoozad Khalili, Anahita Maleki

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Normally business changes are made in order to change a level of activity in some way, whether it is sales, cash flow, productivity, or product portfolio. When attempts are made to make such changes, too often the business reverts to the old levels of activity as soon as management attention is diverted. Risk management is a field of growing interest to project managers as well as in general business and organizational management. There are several approaches used to manage risk in projects and this paper is a brief outline of some that you might encounter, with an indication of their strengths and weaknesses.

Keywords: Risk Management, Project Management, Scheduling, Planning

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Authors: Masoud Mahdavi

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The structure is made using different members and combining them with each other. These members are basically based on technical and engineering principles and are combined in different ways and have their own unique effects on the building. Trusses are one of the most common and important members of the structure, accounting for a large percentage of the power transmission structure in the building. Different types of trusses are based on structural needs and evaluating and making complete comparisons between them is one of the most important engineering analyses. In the present study, four types of trusses have been studied; 1) Hawe truss, 2) Pratt truss, 3) k truss, and 4) warren truss, under cyclic loading for 80 seconds. The trusses are modeled in 3d using st₃₇ steel. The results showed that Hawe trusses had higher values ​​than all other trusses (k, Pratt and Warren) in all the studied indicators. Indicators examined in the study include; 1) von Mises stresses, 2) displacement, 3) support force, 4) velocity, 5) acceleration, 6) capacity (hysteresis curve) and 7) energy diagram. Pratt truss in indicators; Mises stress, displacement, energy have the least amount compared to other trusses. K truss in indicators; support force, speed and acceleration are the lowest compared to other trusses.

Keywords: Hawe truss, Pratt truss, K truss, Warren truss, cyclic loading, finite element method.

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Authors: Levente Varga, Dávid Deritei, Mária Ercsey-Ravasz, Răzvan Florian, Zsolt I. Lázár, István Papp, Ferenc Járai-Szabó

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One of the major shortcomings of widely used scientometric indicators is that different disciplines cannot be compared with each other. The issue of cross-disciplinary normalization has been long discussed, but even the classification of publications into scientific domains poses problems. Structural properties of citation networks offer new possibilities, however, the large size and constant growth of these networks asks for precaution. Here we present a new tool that in order to perform cross-field normalization of scientometric indicators of individual publications relays on the structural properties of citation networks. Due to the large size of the networks, a systematic procedure for identifying scientific domains based on a local community detection algorithm is proposed. The algorithm is tested with different benchmark and real-world networks. Then, by the use of this algorithm, the mechanism of the scientometric indicator normalization process is shown for a few indicators like the citation number, P-index and a local version of the PageRank indicator. The fat-tail trend of the article indicator distribution enables us to successfully perform the indicator normalization process.

Keywords: Citation networks, scientometric indicator, cross-field normalization, local cluster detection.

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Authors: Alexander Y. Vaninsky

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It is suggested to evaluate environmental performance of energy sector using Data Envelopment Analysis with nondiscretionary factors (DEA-ND) with relative indicators as inputs and outputs. The latter allows for comparison of the objects essentially different in size. Inclusion of non-discretionary factors serves separation of the indicators that are beyond the control of the objects. A virtual perfect object comprised of maximal outputs and minimal inputs was added to the group of actual ones. In this setting, explicit solution of the DEA-ND problem was obtained. Energy sector of the United States was analyzed using suggested approach for the period of 1980 – 2006 with expected values of economic indicators for 2030 used for forming the perfect object. It was obtained that environmental performance has been increasing steadily for the period from 7.7% through 50.0% but still remains well below the prospected level

Keywords: DEA with Non Discretionary Factors, Environmental Performance, Energy Sector, Explicit Solution, Perfect Object.

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Authors: Sandija Zeverte-Rivza, Irina Pilvere, Baiba Rivza

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The use of renewable energy sources incl. biogas has become topical in accordance with the increasing demand for energy, decrease of fossil energy resources and the efforts to reduce greenhouse gas emissions as well as to increase energy independence from the territories where fossil energy resources are available.

As the technologies of biogas production from agricultural biomass develop, risk assessment and risk management become necessary for farms producing such a renewable energy. The need for risk assessments has become particularly topical when discussions on changing the biogas policy in the EU take place, which may influence the development of the sector in the future, as well as the operation of existing biogas facilities and their income level.

The current article describes results of the risk assessment for farms producing biomass from agriculture biomass in Latvia, the risk assessment system included 24 risks, that affect the whole biogas production process and the obtained results showed the high significance of political and production risks.

Keywords: Biogas production, risks, risk assessment.

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Authors: Seyedehfatemeh Golrizgashti, Seyedali Dalil

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The goal of this paper is proposing a supply chain value dashboard in home appliance manufacturing firms to create more value for all stakeholders via balanced scorecard approach. Balanced scorecard is an effective approach that managers have used to evaluate supply chain performance in many fields but there is a lack of enough attention to all supply chain stakeholders, improving value creation and, defining correlation between value indicators and performance measuring quantitatively. In this research the key stakeholders in home appliance supply chain, value indicators with respect to create more value for stakeholders and the most important metrics to evaluate supply chain value performance based on balanced scorecard approach have been selected via literature review. The most important indicators based on expert’s judgment acquired by in survey focused on creating more value for. Structural equation modelling has been used to disclose relations between value indicators and balanced scorecard metrics. The important result of this research is identifying effective value dashboard to create more value for all stakeholders in supply chain via balanced scorecard approach and based on an empirical study covering ten home appliance manufacturing firms in Iran. Home appliance manufacturing firms can increase their stakeholder's satisfaction by using this value dashboard.

Keywords: Supply chain management, balanced scorecard, value, Structural modeling, Stakeholders.

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Authors: R. Berglund, T. Backström, M. Bellgran

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This study explores how management addresses psychosocial risks in seven teams of engineers and technicians in the midst of the fourth industrial revolution. The sample is from an ongoing quasi-experiment about psychosocial risk management in a manufacturing company in Sweden. Each of the seven teams belongs to one of two clusters: a positive cluster or a negative cluster. The positive cluster reports a significantly positive change in psychosocial risk levels between two time-points and the negative cluster reports a significantly negative change. The data are collected using semi-structured interviews. The results of the computer aided thematic analysis show that there are more differences than similarities when comparing the risk treatment actions taken between the two clusters. Findings show that the managers in the positive cluster use more enabling actions that foster and support formal and informal relationship building. In contrast, managers that use less enabling actions hinder the development of positive group processes and contribute negative changes in psychosocial risk levels. This exploratory study sheds some light on how management can influence significant positive and negative changes in psychosocial risk levels during a risk management process.

Keywords: Group process model, risk treatment, risk management, psychosocial.

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Authors: M. Balestrieri, C. Pusceddu

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Issues relating to the destructive phenomena that can damage people and goods have returned to the centre of debate in Italy with the increase in catastrophic episodes in recent years in a country which is highly vulnerable to hydrological risk. Environmental factors and geological and geomorphological territorial characteristics play an important role in determining the level of vulnerability and the natural tendency to risk. However, a territory has also been subjected to the requirements of and transformations of society and this brings other relevant factors. The reasons for the increase in destructive phenomena are often to be found in the territorial development models adopted. Stewardship of the landscape and management of risk are related issues. This study aims to summarize the most relevant elements about this connection and at the same time to clarify the role of environmental risk assessment as a tool to aid in the sustainable management of landscape. Finally, the study reflects on how regional and urban planners deal with environmental risk and which aspects should be monitored in order to adopt responsible and useful interventions.

Keywords: Assessment, landscape, risk, planning.

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Authors: Napisporn Memongkol, Runchana Sinthavalai, Nattapong Seneeratanaprayune Weerawat Ounsaneha, Chanisada Choosuk

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The objective of this research is to develop the performance indicators (PIs) in operational level for the Pre-hospital Emergency Medical Service (EMS) system employing in Thailand. This research started with ascertaining the current pre-hospital care system. The team analyzed the strategies of Narerthorn, a government unit under the ministry of public health, and the existing PIs of the pre-hospital care. Afterwards, the current National Strategic Plan of EMS development (2008-2012) of the Emergency Medical Institute of Thailand (EMIT) was considered using strategic analysis to developed Strategy Map (SM) and identified the Success Factors (SFs). The analysis results from strategy map and SFs were used to develop the Performance Indicators (PIs). To verify the set of PIs, the team has interviewed with the relevant practitioners for the possibilities to implement the PIs. To this paper, it was to ascertain that all the developed PIs support the objectives of the strategic plan. Nevertheless, the results showed that the operational level PIs suited only with the first dimension of National Strategic Plan (infrastructure and information technology development). Besides, the SF was the infrastructure development (to contribute the EMS system to people throughout with standard and efficiency both in normally and disaster conditions). Finally, twenty-nine indicators were developed from the analysis results of SM and SFs.

Keywords: Emergency Medical Service, Performance Indicator, Success Factor, Thailand

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Authors: Yeliz Ekinci, Raife Merve Ön

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Nowadays, technological progress is one of the most important components of economic growth and the efficiency of R&D activities is particularly essential for countries. This study is an attempt to analyze the R&D efficiencies of EU countries. The indicators related to R&D efficiencies should be determined in advance in order to use DEA. For this reason a list of input and output indicators are derived from the literature review. Considering the data availability, a final list is given for the numerical analysis for future research.

Keywords: Data envelopment analysis, economic growth, EU Countries, R&D efficiency.

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