• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.717-729
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• 2021

This paper examines the efficacy of the default risk factor in an emerging market context using the Fama-French five-factor model. Our aim is to test whether the Fama-French five-factor model augmented with a default risk factor improves the predictability of returns of portfolios sorted on the firm's characteristics as well as on industry. The default risk factor is constructed by estimating the probability of default using a hybrid version of dynamic panel probit and artificial neural network (ANN) to proxy default risk. This study also provides evidence on the temporal stability of risk premiums obtained using the Fama-MacBeth approach. Using a sample of 3,806 firm-year observations on non-financial listed companies of Pakistan over 2006-2015 we found that the augmented model performed better when tested across size-investment-default sorted portfolios. The investment factor contains some default-related information, but default risk is independently priced and bears a significantly positive risk premium. The risk premiums are also found temporally stable over the full sample and more recent sample period 2010-2015 as evidence by the Fama-MacBeth regressions. The finding suggests that the default risk factor is not a useless factor and due to mispricing, default risk anomaly prevails in the Pakistani equity market.

• Safety and Health at Work
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• 제6권1호
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• pp.35-38
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• 2015

Background: Organizational changes that involve healthcare hospital departments and care services of health districts, and ongoing technological innovations and developments in society increasingly expose healthcare workers (HCWs) to work-related stress (WRS). Minimizing occupational exposure to stress requires effective risk stress assessment and management programs. Methods: The authors conducted an integrated analysis of stress sentinel indicators, an integrated analysis of objective stress factors of occupational context and content areas, and an integrated analysis between nurses and physicians of hospital departments and care services of health districts in accordance with a multidimensional validated tool developed in Italy by the National Network for the Prevention of Work-Related Psychosocial Disorders. The purpose of this retrospective observational study was to detect and analyze in different work settings the level of WRS resulting from organizational changes implemented by hospital healthcare departments and care services of health districts in a sample of their employees. Results: The findings of the study showed that hospital HCWs seemed to incur a medium level risk of WRS that was principally the result of work context factors. The implementation of improvement interventions focused on team development, safety training programs, and adopting an ethics code for HCWs, and it effectively and significantly reduced the level of WRS risk in the workplace. Conclusion: In this study HCW resulted to be exposed to occupational stress factors susceptible to reduction. Stress management programs aimed to improve work context factors associated with occupational stress are required to minimize the impact of WRS on workers.

• Asia pacific journal of information systems
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• 제19권3호
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• pp.1-23
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• 2009

In information systems, "trust" and "risk" have been explored by a few trust-related research studies before, but as two separate issues. The way in which these studies have been designed, however, does not help clarify the relationship between trust and risk since they are studied as unconnected determinants of trusting behavior in electronic commerce. As such, this research attempts to examine and specify the relationships among the core constructs surrounding the issue of trust such as risk and trusting behavior. The context of Internet banking adoption is used to develop a conceptual model that incorporates the direct effects of trust and perceived risk on trusting behavior as well as the mediation of the relationship between trust and trusting behavior by perceived risk. The findings show that perceived risk mediates the relationship between trust and trusting behavior. Specifically, trust in the Internet as a banking medium significantly influences the adoption of Internet banking both directly and indirectly through perceived risk of Internet banking. Trust that the bank will not take advantage of consumers significantly influences the trusting behavior through perceived risk of Internet banking. This study, thus, extends research on trust in e-commerce by simultaneously examining the influence of trust and perceived risk on e-commerce adoption.

• The Journal of Asian Finance, Economics and Business
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• 제5권3호
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• pp.185-193
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• 2018

This paper aims to explore the risk governance framework and socially viable solutions, attempting to provide guidance for the decision making process. The key idea of this study start with overcoming the limitations of IRGC risk governance framework, which mainly focuses on a comprehensive framework for risk governance. This article has employed SWOT analysis as a methodology, which is a strategic planning technique used to help identifying the strengths, weaknesses, opportunities, and threats related to business competition or risk management. In this paper, socially viable solutions as an alternative plan place emphasis on the adoption of concern assessment through a concerns table. It is also proposed that scoping has to get introduced, with SWOT analysis in the process. The results of this paper support that multiple stakeholders have to participate in the process of identifying and framing risk and communicating with each other, considering the context. It should be noted that communities can become involved and take important parts in decision making process in various ways. It is recommended that engaging stakeholders to both risk assessment and risk management is material to dealing with risk in a socially viable way. It also implies that the community-based disaster management should be better prepared for the decision making process in socially viable solutions.

• 대한인간공학회지
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• 제29권4호
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• pp.465-471
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• 2010

Work-related musculoskeletal disorders (WMSDs) have been the most common health problem covered by worker's accident compensation insurance for several years in Korea. Korean government has strengthened related regulations since 2003. People looked forward to decreasing the incidence and prevalence of WMSDs. At first, the expectation could be realized. However, we were bumped against to limit at present. The authors think it is due to the negligence of psychosocial factors for WMSDs. Many researchers reported that the various psychosocial factors were associated with WMSDs or symptoms. Job demand, social support, job satisfaction and decision latitude are the major risk factors in job stress aspect. Work pressure, lack of rest, qualified workload, workload variability and monotonous job are the significant risk factors in work context of work organization. Employment flexibility, downsizing, lean production, contingent work and pay for by the piece are also the risk factors in an organizational context. Furthermore, these risk factors are associated with each other across different dimensions of work organization. Suggestive possible pathways between these risks and WMSDs have been taken note of increasing muscle strain or ergonomic stress and of a cognitive aspect. The authors suggest these risk factors could explain the limitation of the regulation system for WMSDs. In conclusion, the strategy to manage psychosocial factors is the one of the essential approach to prevent WMSDs.

• 대한안전경영과학회지
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• 제14권3호
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• pp.151-158
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• 2012

The objective of this paper is to propose a method of how to perform risk assessment in the early stage of defense research and development for the acquisition of weapon systems. An advanced method for risk assessment and its associated objective functions are developed first based on the concept of systems engineering. The developed method is then applied to carry out the analysis of alternatives in the trade-off environments. As a case study, the multi-purpose training ship is considered, where it is performed using the notions of technology readiness levels, degrees of difficulty, and technology need values to facilitate design space visualization and decision maker interaction. It is noted that decision makers can benefit from our approach as an improved risk assessment method in the context of multi-criteria decision making.

• Nutrition Research and Practice
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• 제8권4호
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• pp.347-351
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• 2014

Inflammation is one mechanism through which cancer is initiated and progresses, and is implicated in the etiology of other conditions that affect cancer risk and prognosis, such as type 2 diabetes, cardiovascular disease, and visceral obesity. Emerging human evidence, primarily epidemiological, suggests that walnuts impact risk of these chronic diseases via inflammation. The published literature documents associations between walnut consumption and reduced risk of cancer, and mortality from cancer, diabetes, and cardiovascular disease, particularly within the context of the Mediterranean Diet. While encouraging, follow-up in human intervention trials is needed to better elucidate any potential cancer prevention effect of walnuts, per se. In humans, the far-reaching positive effects of a plant-based diet that includes walnuts may be the most critical message for the public. Indeed, appropriate translation of nutrition research is essential for facilitating healthful consumer dietary behavior. This paper will explore the translation and application of human evidence regarding connections with cancer and biomarkers of inflammation to the development of dietary guidance for the public and individualized dietary advice. Strategies for encouraging dietary patterns that may reduce cancer risk will be explored.

• 한국안전학회지
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• 제39권3호
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• pp.75-83
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• 2024

Accurately assessing and managing risks in any endeavor is crucial. Risk assessment in engineering translates the abstract concept of risk into actionable strategies for systematic risk management. However, risk validation is met with significant skepticism, particularly concerning the uncertainty of probability. This study aims to address the aforementioned uncertainty in a multitude of ways. Firstly, instead of relying on deterministic probability, it acknowledges uncertainty and presents a probabilistic interval. Secondly, considering the uncertainty interval highlighted in OREDA, it delineates the bounds of the probabilistic interval. Lastly, it investigates how much explanatory power deterministic probability has within the defined probabilistic interval. By utilizing fault tree analysis (FTA) and integrating confidence intervals, a probabilistic risk assessment was conducted to scrutinize the explanatory power of deterministic probability. In this context, explanatory power signifies the proportion of probability within the probabilistic risk assessment interval that lies below the deterministic probability. Research results reveal that at a 90% confidence interval, the explanatory power of deterministic probability decreases to 73%. Additionally, it was confirmed that explanatory power reached 100% only with a probability application 36.9 times higher.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2019년도 학술발표회
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• pp.397-397
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• 2019

With the consequences of climate change becoming more evident, research on climate-associated risks has become a basis for climate adaptation and mitigation. Amongst the different sectors and natural resources considered in assessing such risks, drought is one impact to our environment that experiences stress from climate change but is often overlooked and has the potential to bring severe consequences when drought occurs. For example, when temperatures are higher, water demand increases and water supply decreases; when precipitation patterns fluctuate immensely, floods and droughts occur more frequently at greater magnitudes, putting stress on ecosystems. Hence, it is important for us to evaluate drought risk to observe how different climate change and socioeconomic scenarios can affect this vital life resource. In this study, we review the context of drought risk on the basis of climate change impacts and socioeconomic indicators. As underlined in the IPCC AR5 report, the risks are identified by understanding the vulnerability, exposure, and hazards of drought. This study analyzed drought risk on a global scale with different RCP scenarios projected until the year 2099 with a focus on the variables population, precipitation, water resources, and temperature.

• 유통과학연구
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• 제22권2호
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• pp.51-61
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• 2024

Purpose: This comprehensive study delves into the intricate relationship between customer engagement, perceived risk, and perceived value within China's burgeoning e-commerce livestreaming sector. It focuses on how different customer engagement types in livestreaming influence their perception of value and risk. Research Design, Data, and Methodology: Adopting a convenience sampling approach, this research scrutinizes data collected from 852 consumers actively involved in e-commerce livestreaming shopping. Participants provided their insights through a meticulously designed questionnaire survey. Structural equation modeling helped examine the interplay between customer engagement, perceived risk, and value. Results: Significant impacts of customer engagement on perceived value and risk were found. Observation-based, conversation-based, and action-based engagements enhance perceived risk, while conversation-based and action-based engagement reduce perceived risk. Interestingly, observation-based engagement did not significantly affect perceived risk. The study also uncovered that perceived risk negatively impacts perceived value. Conclusions: The research offers insights into customer behavior and value creation in e-commerce livestreaming. It underscores how different engagement types affect perceived value and risk, aiding e-commerce platforms and businesses in strategy development to improve customer experience and minimize risks, enhancing perceived value in this dynamic sector. Enhances understanding of customer engagement dynamics in China's e-commerce livestreaming, guiding strategic development.