Using the managerial risk preference scale, the managerial risk preferences of 308 state-owned enterprises (SOEs) management personnel in China are investigated. The results show that older management personnel are more risk averse. Management personnel who have higher positions are more risk averse. The highest degree of risk pursuit across different industries is management personnel in the agriculture industry followed by manufacturing, energy, transportation, trade, and construction. No significant differences were observed in the managerial risk preference distribution of management personnel with respect to gender, and level of education.
This paper explores the estimation of value at risk (VaR) dynamically for the top three ranked Diversified Equity Schemes, Large Cap Equity Schemes, and Small & Mid Cap Equity Schemes in India in addition to S&P CNX Nifty and BSE SENSEX. While volatility clustering is addressed using GARCH model, the non-normality behavior associated with equity returns is handled by employing the Johnson’s SU (JSU) or Pearson Type IV (PIV) distributed innovations in the ARMA–GARCH model. We find that both JSU and PIV distributions demonstrate better predictive abilities than Normal distribution. Further, the model incorporates current volatility and administers prior warning to the market participants without disturbing the price discovery process. Regulators can determine capital requirements by implementing the dynamic VaR model. Also, through such a mechanism, additional margins can be imposed in advance during extreme price fluctuations. We propose JSU distribution in conjunction with ARMA–GARCH model based on superior out-sample VaR prediction.
This paper analyzes the impact of armed conflict on financial and economic risk in Colombia using data from 2002 to the end of 2012. We have examined the abnormal returns (AR) in the stock market in response to large-scale terrorist attacks. Our results suggest that the AR in stock market do respond to the attacks; our estimation findings show that these attacks increase the volatility of these AR. The increase in volatility is, however, rather small and short-lived. In addition to the financial risk, we have analyzed the impact of armed conflict on economic risk using the movements in industrial production. We showed the negative impact of armed conflict on the real sector with a five-month lag. We have also performed robustness checks one of which examined the attacks perpetuated only in the capital of Colombia, Bogota. The results suggest that investors do respond to a small subset of attacks executed in the capital city. We discuss the implications of the findings for risk management.
This article focuses on those times that the emergency physician (EP) and patient do not agree on a treatment option. Attention is placed on the risk management issues relevant to the patient's unexpected choice. Emphasis is placed on determining a patient's competency or capability of making clinical decisions, with particular focus on the EP deciding that patient competency requires a formal evaluation. The EP should have a strategy for assessing clinical decision-making capability and an understanding of what circumstances should act as a trigger for considering such an assessment. Attention to documentation issues around informed consent, common barriers to consent, refusal of care, and ED discharge against medical advice are examined.
Managing and auditing compliance could not be confined to either health, safety, environmental or financial legislation, but must, of necessity include all the legislation relevant to an organisation.
The Higher Education Qualification Framework (HEQF), published on 5 October 2007 by the Minister of Education, Naledi Pandor (Government Gazette Volume 508, number 30353), was long expected in the training and development field.
The basic elements of occupational hygiene tasks, as listed in the unit standards for the Occupational Hygiene and Safety qualifications, will soon be supplemented by a standardised curriculum, writes Dr Johan Schoeman.
The functions and aims of occupational SHEQ and HR officials overlap in a number of defined areas, writes Christel Fouche.
SHERCON, the premium annual safety, health, environmental andrisk management conference, will take place at the BirchwoodConference Centre in Boksburg from 15 to 17 April 2008.
Most organisations believe that information security management does not apply to them, or that their information is secure, or cannot be secured. Whichever they believe, these organisations are merely ignorant of an aspect that could and should be managed.
Diana Duthe, a groundwater specialist at SRK, has been involved in a wide range of groundwater studies.
Occupational risk management, also known as operational risk or OHSEQ risk, has expanded year by year to now include the management of wellness, behaviour, motivation, environmental aspects and impacts (ISO 14001), as well as the quality of services or processes and client experience (ISO 9001).
No other body of workers in modern industry have had their on-the-job productivity and off-the-job behaviour more closely watched than the Chinese workers imported to the Johannesburg goldfields in 1905.
There once was a sure way to tell the origin of a hot street machine. Flames on the door, it's from Benoni. Nodding dog in the rear window, it's from Pretoria. Neon lights under the chassis, it's from Lenasia or a certain suburb of Port Elizabeth. Backyard conversion to a cabriolet, it's from Kimberley. Thick rear tyres, it's from Rosettenville. Empty orange-shaped soft drink container on the aerial, it's from Krugersdorp.
Four air quality projects were completed in the Vaal Triangle as part of an Environmental Impact Assessment (EIA) of the activities of Arcelor Mittal SA. According to the contractor, Bohlweki Environmental, part of the consulting engineering and project management group SSI, the EIA had unique features since the Vaal Triangle Airshed Priority Area was the fi rst area in South Africa to be declared a national air pollution 'hotspot' - or priority area - in terms of the National Environmental Management Air Quality Act. Dr Raylene Watson of Bohlweki, who is an air quality specialist, said that the Department of Environmental Affairs and Tourism has already introduced special interventions to improve the air quality in the area, including a Priority Area Air Quality Management Plan.
The current case of miner vs an employer for inadequate management of exposure to a respiratory disease, should remind everyone in business, labour and government that the law is a packing animal. It carries among other intentions, the burden of economic compromise.
