• Smart Structures and Systems
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• v.21 no.2
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• pp.249-255
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• 2018

Many studies in risk management have been focused on management process, contract relation, and risk analysis in the past decade, but very few studies have addressed project risks from the perspective of risk efficiency. This study started with using Fault Tree Analysis to develop a framework for the decision-making support system of risk management from the perspective of risk efficiency, in order for the support system to find risk strategies of optimal combination for the project manager by the trade-off between project risk and cost of project strategies. Comprehensive and realistic risk strategies must strive for optimal decisions that minimize project risks and risk strategies cost while addressing important data such as risk causes, risk probability, risk impact and risk strategies cost. The risk management in the construction phase of building projects in Taiwan upon important data has been analyzed, that provided the data for support system to include 247 risk causes. Then, 17 risk causes were extracted to demonstrates the decision-making support system of risk management from the perspective of risk efficiency in building project of Taiwan which could reach better combination type of risk strategies for the project manager by the trade-off between risk cost and project risk.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.231-239
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• 2021

The purpose of this study is to analyze the effect of risk efficiency, financial decisions, and financial performance on firm value due to advances in financial reporting technology. This research was conducted on all banking sub-sector companies listed on the Indonesian capital market during a period of eight years, namely 2012-2019 which were selected using the purposive sampling method. The advancement of financial reporting technology is measured by two indicators based on the Internet financial reporting approach. Risk efficiency is measured using three indicators with a risk proxy relative efficiency approach using value at risk. Financial decisions are measured by two indicators that represent funding decisions and investment decisions. Financial performance is measured by two indicators with the profitability approach, and firm value is measured by two indicators based on the investor perception approach. The data analysis technique in this study used multivariate analysis with SEM-PLS. The empirical findings of this study are the advances in financial reporting technology, financial decisions, and risk-based efficiency value have a significant effect on firm value, while financial performance does not have a significant effect on firm value. Banking companies reduce risk to achieve efficiency and result in lower profits.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.841-850
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• 2021

This study aims to evaluate the relationship between bank capital, efficiency, and risk in Islamic banks. We use data from 129 Islamic banks in the world, retrieved from various data sources. We retrieved specific banking data from Moody's Analytics BankFocus and Thomson Reuters Eikon, while data at the country level was obtained from the World Bank website. This study uses various estimates both Pooled OLS (Ordinary Least Square) and Random Effect (RE). However, to overcome the issue of serial correlation which could cause bias in the results of the study, we used fixed-effect (FE) cluster estimates. The research results confirm the previous findings that bank capital positively affects bank stability (natural logarithm of Z-Score) and negatively affects credit risk (loan loss provision to total liabilities). The findings also show that efficiency has the same effect. The interaction test of bank capital and efficiency shows that efficiency encourages banks to reduce risk, including when bank capital is relatively lower. This finding is expected to have implications for the authorities to boost bank efficiency in addition to establishing several regulations related to capital. The efficiency implemented by the bank will encourage banks to act prudently so that the bank can maintain its performance through risk mitigation.

• Journal of Korea Trade
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• v.23 no.5
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• pp.45-65
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• 2019

Purpose - As the well-known Structure-Conduct-Performance paradigm implies, risk structure of a corporation may affect its risk management activity and the activity may in turn determine its performance. Depending on its goal, Foreign Direct Investment (FDI) can shape its risk structure, risk management and its performance. Under this assumption, we investigate the relationship between the goals of FDI and risk management for the first time in academics. Design/methodology - This empirical research uses a survey of 279 current Korean enterprises' FDIs in China with the recently developed business risk quadrant model. Companies are classified into either a market- or an efficiency-seeking group, to identify how each group perceives and manages risks, and values the performance of risk management. Also, we apply integrated risk management method that multinational corporations have introduced in China, then verify the mediating effect between risk factors and performance. Findings - Our research shows the FDIs can expose themselves to differing risk structure although risk management activities simply represent the level of empowerment given to local management by headquarter due to limit of sample size despite diversity of risk and risk management tools. To sum, market seekers are found to have more strategic risk (revenue related risk) than efficiency seekers with financial risk (cost related risk). The market seekers can manage their risk by empowering their local organisation while the efficiency does the opposite ways. The risk management appears to be successful in general. Originality/value - Previous studies on small and medium enterprises' FDIs to China have concentrated on the analysis of entry determinants, withdrawal factors and individual risk management. Meanwhile, this research establishes enterprise-wide risk factors faced by the companies that advance into China, according to the method of the classification by ERM and verifies if they could synthetically improve performance through risk corresponding measures.

• 한국환경농학회:학술대회논문집
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• 2009.07a
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• pp.3-18
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• 2009

It is difficult for consumers to satisfy high safety request with post-management method such as inspection and surveillance, as various changes in-and-out of the country associated with food safety. In terms of food safety problems related to foods, it is crucial to recognize public health and consumer protection and construct pre-preventive Food Control System. A joint committee, FAO/WHO made the following consultations to the National Food Safety System. ${\circ}$ Approach entirely from farm to table ${\circ}$ Get ready for Risk Analysis System ${\circ}$ Secure transparency ${\circ}$ Establish the optimal policy by evaluating the effect of regulation When it comes to summarizing the consultation, it would be accumulated as two key words; "Efficiency" and "Credibility". Whereas the problem of efficiency focuses on precaution rather than post-management, it requires policy option to maximize consumer's benefit by evaluating the cost for the Food Safety Management and its benefit. Also, analyzing risk's character and amount, demanding an optimal means, and introducing scientific analysis system put much value on the stakeholder's communications are procedure's security which can satisfy both "Efficiency" and "Credibility" simultaneously. Especially, it is emphasized here that Risk Assessment need to be separated from Risk Management. This action is a valid means of credibility security throughout improving transparency. A number of nations and organizations have reformed the method of food management passing through reflection and examination of the prior National Food Safety Management since BSE occurred in Britain, 1996. FSA; Food Standard Agency, AFFSA, EFSA, BfR, and FSC are Risk Assessment Organization functionally separated from Risk Management Organization, JECFA, JMCFA, JMPR, JEMRA in Codex charge Risk Assessment internationally. In case of advanced countries excluding several those such as The U.S. and so forth, though these Risk Assessment Organizations are either separated functionally within Risk Management Organization or operated as apart organ, common factors are in which it has independence as Science Base. While securing independence of Risk Assessment Function, it is a tendency Risk Management should be functionally unified into efficiency as well. Though Germany constructs integral Risk Management System of diverse ways according to social and political conditions of each country such as GFOCP, DVFA, SNFA, CFIS and AQIS, there is a key word in the center, "Securing efficiency of Food Safety Management". However our nation has a representative plural；diversified system with The U.S., we took a step forward for unification as empowering policy's generalization；adjustment and Risk Assessment Function by means of enacting the "Food Safety Fundamental Law" in 2008 and establishing the "Food Safety Policy Commission" with private and governmental sectors in the Prime Minister's office. Even though the unification of Risk Management hereby increased, there is the lack of strengthening function of Risk Assessment and securing independence. It needs to be required for the professional committee in Food Safety Policy Commission to develop as a exclusive office of Risk Assessment by separating from a policy decision. Administrative Branches should reinforce feeble functions such as fundamental investigation；research for carrying out Risk Assessment with securing efficiency throughout reassessment of prior Risk Management Means.

• The Journal of Industrial Distribution & Business
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• v.6 no.1
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• pp.37-40
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• 2015

Purpose - Investors, creditors, governments, and others make decisions using reasonable information provided by others. In many cases, the users of this information have goals and objectives conflicting with those of the information's producers, indicating the need for external auditors. Research design, data, and methodology - Competition in auditing has noticeably intensified globally, especially in developed countries. This means that auditors are striving to increase the efficiency of their methods. In recent years, risk-based auditing has become prominent among these efforts. In risk-assessment auditing, the auditor may directly affect the effectiveness and efficiency of the audit. Results - As a central framework, the risk assessment process improves audit quality and effectiveness such that the audit will lead to necessary changes. Previous studies have shown that risk assessment affects the nature, timing, and content of audit procedures. Conclusions - In the planning stage of an audit, audit risk assessment may identify any inappropriate or inefficient distribution of resources or determine whether the results of an audit will be ineffective or incorrect. Thus, assessing audit risk is a critical task.

• Journal of the Korean Statistical Society
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• v.25 no.1
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• pp.95-110
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• 1996

We consider the question of efficiency of the Bayes sequential procedure with respect to the optimal fixed sample size Bayes procedure in a simple vs. simple testing problem for data coming from a general nonregular density b(.theta.)h(x)l(x < .theta.). Efficiency is defined in two different ways in these caiculations. Also, the minimax sequential risk (and minimax sequential stratage) is studied as a function of the cost of sampling.

• Structural Engineering and Mechanics
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• v.69 no.3
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• pp.317-326
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• 2019

This research aims to assess the tight seismic risk curve of the intake tower at Geumgwang reservoir by considering the recorded historical earthquake data in the Korean Peninsula. The seismic fragility, a significant part of risk assessment, is updated by using Bayesian inference to consider the uncertainties and computational efficiency. The reservoir is one of the largest reservoirs in Korea for the supply of agricultural water. The intake tower controls the release of water from the reservoir. The seismic risk assessment of the intake tower plays an important role in the risk management of the reservoir. Site-specific seismic hazard is computed based on the four different seismic source maps of Korea. Probabilistic Seismic Hazard Analysis (PSHA) method is used to estimate the annual exceedance rate of hazard for corresponding Peak Ground Acceleration (PGA). Hazard deaggregation is shown at two customary hazard levels. Multiple dynamic analyses and a nonlinear static pushover analysis are performed for deriving fragility parameters. Thereafter, Bayesian inference with Markov Chain Monte Carlo (MCMC) is used to update the fragility parameters by integrating the results of the analyses. This study proves to reduce the uncertainties associated with fragility and risk curve, and to increase significant statistical and computational efficiency. The range of seismic risk curve of the intake tower is extracted for the reservoir site by considering four different source models and updated fragility function, which can be effectively used for the risk management and mitigation of reservoir.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.729-740
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• 2020

The study examines the efficiency of private sector banks in India with the help of Window DEA (Data Envelopment Analysis) for a period from 2005 to 2017. With a window of three years, the period was divided into 11 windows. The study outcomes show that 59.9% of all private sector banks in India operate at more than 0.9 level of efficiency, and there are only three occasions when banks were operating at the efficiency value between 0.6 to 0.7. Further, the consistency in the efficiency scores of the banks has also been analyzed using an efficiency mapping matrix, and the mean efficiency score of the bank in each window is studied. The score of standard deviation was interpreted accordingly for these banks. Banks that are showing the highest efficiency scores also have a higher variance of efficiency scores. There was no bank identified in the matrix that promises high-efficiency ratings with low variability. The study concludes that the analysis of the efficiency mapping matrix indicates that, as a DMU escalates in the efficiency scores, the standard deviation reflecting the risk in overall efficiency scores also tends to rise. The findings complement the concept of higher risk to higher return or greater efficiency.

• Journal of the Korean Society of Costume
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• v.61 no.4
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• pp.63-75
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• 2011

The purpose of this study were to investigate influences of perceived value and perceived risk on purchasing behavior for imported apparel from official dealer and unofficial dealer in internet shopping mall. A total of 363 female subjects with ages ranging between 20's and 30's completed the questionnaire. The results of this study were as follows. 1) Imported apparel through official dealer had no influence by impulse buying for convenience and efficiency value, information value, after-purchasing value. On the other hand, imported apparel through unofficial dealer had a negative influence by impulse buying for convenience and efficiency value. 2) Imported apparel through official dealer had a negative influence by impulse buying for function and service risk. But for imported apparel through unofficial dealer, not only function and service risk but also private information risk were influenced by impulse buying. 3) All of imported apparel through official dealer and unofficial dealer had no influence by flow for convenience and efficiency value, information value, after-purchasing value. 4) All of imported apparel through official dealer and unofficial dealer were influenced by flow for function and service risk. That is to say, when consumer find satisfaction about quality of products, whether real thing or not, guarantee of quality, consumer's purchasing behavior will be enhance.