WorldWideScience

Sample records for global asset risk

  1. Global Asset Pricing: Is There a Role for Long-run Consumption Risk?

    Rangvid, Jesper; Schmelling, Maik; Schrimpf, Andreas

    We estimate long-run consumption-based asset pricing models using a comprehensive set of international test assets, including broad equity market portfolios, international value/growth portfolios, and international bond portfolios. We find that differences in returns across assets within a countr...... that consumption growth is more predictable over short to medium-run horizons than over longer horizons and that empirical evidence of a de- clining risk aversion parameter estimate in long-run risk models has to be interpreted with care....... are sometimes (and most prominently for the U.S.) better captured by the assets' exposure to long-run consumption risk as opposed to their exposure to one-period changes in consumption (the canonical consumption CAPM). Across countries, however, exposure to long-run consumption risk does not provide a better...... fit than the canonical consumption CAPM. Thus, when characterizing the cross-country distribution of returns, long-run consumption risk does not seem to play any particular role, even if long-run risk is important for explaining the cross section of expected returns in the U.S. Furthermore, we show...

  2. Risk and return in oilfield asset holdings

    Kretzschmar, Gavin L.; Kirchner, Axel; Reusch, Hans [University of Edinburgh, College of Humanities and Social Sciences, The Management School (United Kingdom)

    2008-11-15

    Convention suggests that emerging market investment should provide commensurately lower risk or higher returns than comparable assets in developed countries. This study demonstrates that emerging markets contain regulatory specificities that challenge asset valuation model convergence and potentially invert risk return convention. 292 oilfield assets are used to provide evidence that, under upward oil prices, emerging markets are characterized by progressive state participation in oilfield cash flows. Specifically, this work advances the low oil price paradigm of prior oil and gas asset valuation studies and provides evidence that emerging market state participation terms limit the corporate value of globalization for the sector. (author)

  3. Risk and return in oilfield asset holdings

    Kretzschmar, Gavin L.; Kirchner, Axel; Reusch, Hans

    2008-01-01

    Convention suggests that emerging market investment should provide commensurately lower risk or higher returns than comparable assets in developed countries. This study demonstrates that emerging markets contain regulatory specificities that challenge asset valuation model convergence and potentially invert risk return convention. 292 oilfield assets are used to provide evidence that, under upward oil prices, emerging markets are characterized by progressive state participation in oilfield cash flows. Specifically, this work advances the low oil price paradigm of prior oil and gas asset valuation studies and provides evidence that emerging market state participation terms limit the corporate value of globalization for the sector. (author)

  4. Estimating the value of a Country's built assets: investment-based exposure modelling for global risk assessment

    Daniell, James; Pomonis, Antonios; Gunasekera, Rashmin; Ishizawa, Oscar; Gaspari, Maria; Lu, Xijie; Aubrecht, Christoph; Ungar, Joachim

    2017-04-01

    In order to quantify disaster risk, there is a demand and need for determining consistent and reliable economic value of built assets at national or sub national level exposed to natural hazards. The value of the built stock in the context of a city or a country is critical for risk modelling applications as it allows for the upper bound in potential losses to be established. Under the World Bank probabilistic disaster risk assessment - Country Disaster Risk Profiles (CDRP) Program and rapid post-disaster loss analyses in CATDAT, key methodologies have been developed that quantify the asset exposure of a country. In this study, we assess the complementary methods determining value of building stock through capital investment data vs aggregated ground up values based on built area and unit cost of construction analyses. Different approaches to modelling exposure around the world, have resulted in estimated values of built assets of some countries differing by order(s) of magnitude. Using the aforementioned methodology of comparing investment data based capital stock and bottom-up unit cost of construction values per square meter of assets; a suitable range of capital stock estimates for built assets have been created. A blind test format was undertaken to compare the two types of approaches from top-down (investment) and bottom-up (construction cost per unit), In many cases, census data, demographic, engineering and construction cost data are key for bottom-up calculations from previous years. Similarly for the top-down investment approach, distributed GFCF (Gross Fixed Capital Formation) data is also required. Over the past few years, numerous studies have been undertaken through the World Bank Caribbean and Central America disaster risk assessment program adopting this methodology initially developed by Gunasekera et al. (2015). The range of values of the building stock is tested for around 15 countries. In addition, three types of costs - Reconstruction cost

  5. Globalization and the Housing Asset Rich

    2008-01-01

    Abstract This article explores the importance of housing assets in shaping the global landscape of opportunity and disadvantage. In doing so, it is concerned with four key issues. First, it seeks to highlight the increasing significance of housing related wealth at a global scale. Second, it is concerned with the uneven and potentially divisive impact of housing asset accumulation, within and between societies. Third, it seeks to show how economic, geo-demographic and policy contex...

  6. Global Tactical Cross-Asset Allocation: Applying Value and Momentum Across Asset Classes

    D.C. Blitz (David); P. van Vliet (Pim)

    2008-01-01

    textabstractIn this paper we examine global tactical asset allocation (GTAA) strategies across a broad range of asset classes. Contrary to market timing for single asset classes and tactical allocation across similar assets, this topic has received little attention in the existing literature. Our

  7. Global Tactical Cross-Asset Allocation: Applying Value and Momentum Across Asset Classes

    Blitz, D.C.; van Vliet, P.

    2008-01-01

    textabstractIn this paper we examine global tactical asset allocation (GTAA) strategies across a broad range of asset classes. Contrary to market timing for single asset classes and tactical allocation across similar assets, this topic has received little attention in the existing literature. Our main finding is that momentum and value strategies applied to GTAA across twelve asset classes deliver statistically and economically significant abnormal returns. For a long top-quartile and short b...

  8. Inflation risk and international asset returns

    G.A. Moerman (Gerard); M.A. van Dijk (Mathijs)

    2010-01-01

    textabstractWe show that inflation risk is priced in international asset returns. We analyze inflation risk in a framework that encompasses the International Capital Asset Pricing Model (ICAPM) of Adler and Dumas (1983). In contrast to the extant empirical literature on the ICAPM, we relax the

  9. Asset backed securities : risks, ratings and quantitative modelling

    Jönsson, B.H.B.; Schoutens, W.

    2009-01-01

    Asset backed securities (ABSs) are structured finance products backed by pools of assets and are created through a securitisation process. The risks in asset backed securities, such as, credit risk, prepayment risk, market risks, operational risk, and legal risks, are directly connected with the

  10. Regionalisation of asset values for risk analyses

    A. H. Thieken

    2006-01-01

    Full Text Available In risk analysis there is a spatial mismatch of hazard data that are commonly modelled on an explicit raster level and exposure data that are often only available for aggregated units, e.g. communities. Dasymetric mapping techniques that use ancillary information to disaggregate data within a spatial unit help to bridge this gap. This paper presents dasymetric maps showing the population density and a unit value of residential assets for whole Germany. A dasymetric mapping approach, which uses land cover data (CORINE Land Cover as ancillary variable, was adapted and applied to regionalize aggregated census data that are provided for all communities in Germany. The results were validated by two approaches. First, it was ascertained whether population data disaggregated at the community level can be used to estimate population in postcodes. Secondly, disaggregated population and asset data were used for a loss evaluation of two flood events that occurred in 1999 and 2002, respectively. It must be concluded that the algorithm tends to underestimate the population in urban areas and to overestimate population in other land cover classes. Nevertheless, flood loss evaluations demonstrate that the approach is capable of providing realistic estimates of the number of exposed people and assets. Thus, the maps are sufficient for applications in large-scale risk assessments such as the estimation of population and assets exposed to natural and man-made hazards.

  11. Globalization and Risk Sharing

    Jaume Ventura; Fernando A. Broner

    2006-01-01

    We study the effects of globalization on risk sharing and welfare. Like the previous literature, we assume that governments cannot commit to enforce the repayment of debts owed by their citizens. Unlike the previous literature, we assume that governments cannot discriminate between domestic and foreign creditors when enforcing debt payments. This creates novel interactions between domestic and international trade in assets. (i) Increases in domestic trade raise the benefits of enforcement and...

  12. Key determinants of managing the marketing asset of global companies

    Tatyana Tsygankova; Roman Ponomarenko

    2016-01-01

    As a result of organization and summarization of key concepts of evolution of the marketing tools of global companies, the authors determined the role of the marketing assets in the system of modern marketing management (as a dialectically higher stage of development of the analyzed tools, which will allow overcoming the antagonistic contradiction of “P- and C-vectors” of their development). The article identified the optimal set of key elements of the system of marketing assets, which are th...

  13. Key determinants of managing the marketing asset of global companies

    Tatyana Tsygankova

    2016-12-01

    Full Text Available As a result of organization and summarization of key concepts of evolution of the marketing tools of global companies, the authors determined the role of the marketing assets in the system of modern marketing management (as a dialectically higher stage of development of the analyzed tools, which will allow overcoming the antagonistic contradiction of “P- and C-vectors” of their development. The article identified the optimal set of key elements of the system of marketing assets, which are the brand, customer loyalty, reputation, network cooperation, marketing strategy, internal marketing, marketing information system and marketing innovation. Due to correlation and regression analysis of the impact of each system elements on performance of global companies, the model of the "marketing asset octagon" was built as an integrative management tool. Also, as a result of construction of the said model, the authors identified the most profitable marketing assets, return on investment and development of competencies in the field of efficient management will bring the highest profit to the company. On the basis of summarizing the regional and branch features of managing the disparate elements of the marketing assets of global companies, the key regional and sectoral priorities of formation, development and improvement of existing concepts of the international marketing management were identified, particularly in terms of building an author’s integrative octagon model.

  14. 12 CFR 615.5210 - Risk-adjusted assets.

    2010-01-01

    ... appropriate credit conversion factor in § 615.5212, is assigned to one of the risk categories specified in... risk-based capital requirement for the credit-enhanced assets, the risk-based capital required under..., determine the appropriate risk weight for any asset or credit equivalent amount that does not fit wholly...

  15. Managing Risks in Electrical Infrastructure Assets from a Strategic Perspective

    Zhuang, Q.

    2015-01-01

    Should risks always be quantified before being managed? The answer is “yes” in the opinion of most asset managers in today’s electricity transmission and distribution companies, but “no” in modern theories of risk management. When the risks refer to reliability hazards of high-voltage assets, the

  16. Optimal International Asset Allocation with Time-varying Risk

    Flavin, Thomas; Wickens, M.R.

    2006-01-01

    This paper examines the optimal allocation each period of an internationally diversified portfolio from the different points of view of a UK and a US investor. We find that investor location affects optimal asset allocation. The presence of exchange rate risk causes the markets to appear not fully integrated and creates a preference for home assets. Domestic equity is the dominant asset in the optimal portfolio for both investors, but the US investor bears less risk than the UK...

  17. ASSESSMENT OF BANKING ASSETS ON FINANCIAL RISK MANAGEMENT - ALBANIAN CASE

    ADRIATIK KOTORRI

    2014-02-01

    Full Text Available Recognizing the asset value dynamics volatility of the financial institutions and the importance of its recognition both for financial reporting purposes and risk management effect, this paper aims to provide a practical model for the assets and financial institutions evaluation especially banks. It also aims to present a model to measure the value of banking assets for the purposes of risk management as an opportunity to identify in an early moment the banking risks. The paper develops the bank assets assessment forms and the basis of mathematical modeling of this assessment in general. He identifies also the evaluation factors as for example time to maturity, interest rate market for the assets (YTM, the interest rate agreed, the early repayment of the loan, interest ceilings and floors, off-balance sheet treatment, etc..

  18. Asset correlations and credit portfolio risk: an empirical analysis

    Düllmann, Klaus; Scheicher, Martin; Schmieder, Christian

    2007-01-01

    In credit risk modelling, the correlation of unobservable asset returns is a crucial component for the measurement of portfolio risk. In this paper, we estimate asset correlations from monthly time series of Moody's KMV asset values for around 2,000 European firms from 1996 to 2004. We compare correlation and value-atrisk (VaR) estimates in a one-factor or market model and a multi-factor or sector model. Our main finding is a complex interaction of credit risk correlations and default probabi...

  19. Downside Risk And Empirical Asset Pricing

    P. van Vliet (Pim)

    2004-01-01

    textabstractCurrently, the Nobel prize winning Capital Asset Pricing Model (CAPM) celebrates its 40th birthday. Although widely applied in financial management, this model does not fully capture the empirical riskreturn relation of stocks; witness the beta, size, value and momentum effects. These

  20. A risk-based approach to sanitary sewer pipe asset management.

    Baah, Kelly; Dubey, Brajesh; Harvey, Richard; McBean, Edward

    2015-02-01

    Wastewater collection systems are an important component of proper management of wastewater to prevent environmental and human health implications from mismanagement of anthropogenic waste. Due to aging and inadequate asset management practices, the wastewater collection assets of many cities around the globe are in a state of rapid decline and in need of urgent attention. Risk management is a tool which can help prioritize resources to better manage and rehabilitate wastewater collection systems. In this study, a risk matrix and a weighted sum multi-criteria decision-matrix are used to assess the consequence and risk of sewer pipe failure for a mid-sized city, using ArcGIS. The methodology shows that six percent of the uninspected sewer pipe assets of the case study have a high consequence of failure while four percent of the assets have a high risk of failure and hence provide priorities for inspection. A map incorporating risk of sewer pipe failure and consequence is developed to facilitate future planning, rehabilitation and maintenance programs. The consequence of failure assessment also includes a novel failure impact factor which captures the effect of structurally defective stormwater pipes on the failure assessment. The methodology recommended in this study can serve as a basis for future planning and decision making and has the potential to be universally applied by municipal sewer pipe asset managers globally to effectively manage the sanitary sewer pipe infrastructure within their jurisdiction. Copyright © 2014 Elsevier B.V. All rights reserved.

  1. 12 CFR 615.5211 - Risk categories-balance sheet assets.

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Risk categories-balance sheet assets. 615.5211...—balance sheet assets. Section 615.5210(c) specifies certain balance sheet assets that are not assigned to the risk categories set forth below. All other balance sheet assets are assigned to the percentage...

  2. Dynamic asset allocation and downside-risk aversion

    A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

    2000-01-01

    textabstractThis paper considers dynamic asset allocation in a mean versus downside-risk framework. We derive closed-form solutions for the optimal portfolio weights when returns are lognormally distributed. Moreover, we study the impact of skewed and fat-tailed return distributions. We find that

  3. Processing Risk In Asset Management : Exploring The Boundaries Of Risk Based Optimization Under Uncertainty For An Energy Infrastructure Asset Manager

    Wijnia, Y.C.

    2016-01-01

    In the liberalized energy market Distribution Network Operators (DNOs) are confronted with income reductions by the regulator. The common response to this challenge is the implementation of asset management, which can be regarded as systematically applying Cost Benefit Analysis (CBA) to the risks in

  4. The risk of stranded assets for utilities in Canada

    Schroeder, W.

    1998-01-01

    The problems of dealing with stranded assets in Canada and the United States were discussed. Compared to the United States, the risk associated with stranded assets for utilities in Canada was considered to be relatively low because of the following factors: (1) low variable cost, (2) isolation, (3) lack of transmission interconnection capacity, (4) lack of tight synchronization in North America, (5) the likelihood of an increase in natural gas prices, (6) the absence of jurisdictional disputes such as FERC versus the states, (7) social considerations, (8) the learning curve, (9) politics, (10) weak balance sheets, (11) relatively low electricity prices, (12) the weak Canadian dollar, and (13) the possibility of refinancing at lower interest rates. Ontario Hydro, New Brunswick and Nova Scotia Power are the three Canadian utilities that may have stranded costs. For Ontario Hydro and New Brunswick Power the stranded costs would be related to nuclear generator problems, whereas for Nova Scotia Power, the stranded costs would be related to the thermal generating base, the threat from Sable Island Gas and the changing tax structure of the utility. Some other reasons why stranded assets could be created in Canada would include low variable costs and high fixed costs, over capacity of at least 30 per cent in generation, limited domestic energy growth, competitive threat from gas, reliability and safety of nuclear plants, and technology change. Five factors in terms of which stranded assets can be expressed are: (1) variable cost definition, (2) total cost definition, (3) operating profit definition, (4) wide geographic definition, and (5) free market definition. In calculating stranded assets, the number of years over which the assets are recovered and the discount rate are considered to be key factors. 26 tabs

  5. Risk Management of Assets Dependency Based on Copulas Function

    Cheng Lei

    2017-01-01

    Full Text Available As the two important form of financial market, the risk of financial securities, such as stocks and bonds, has been a hot topic in the financial field; at the same time, under the influence of many factors of financial assets, the correlation between portfolio returns causes more research. This paper presents Copula-SV-t model that it uses SV-t model to measure the edge distribution, and uses the Copula-t method to obtain the high-dimensional joint distribution. It not only solves the actual deviation with using the ARCH family model to calculate the portfolio risk, but also solves the problem to overestimate the risk with using extreme value theory to study financial risk. Through the empirical research, the conclusion shows that the model describes better assets and tail characteristics of assets, and is more in line with the reality of the market. Furthermore, Empirical evidence also shows that if the portfolio is relatively large degree of correlation, the ability to disperse portfolio risk is relatively weakness.

  6. International Asset Pricing, Currency Risk and Integration of Markets

    Sema BAYRAKTAR

    2014-11-01

    Full Text Available This study attempts to test the conditional version of the international asset-pricing model proposed in Bayraktar (2000, 2009 by using a parsimonious multivariate GARCH process. The theoretical model, contrary to previous empirical studies that have used random selection of currency risks, determines which currencies should be included in an empirical test, thus avoids this kind of random selection bias. The results from both full and sub-samples regressions provide some weak evidence for the existence of exchange rate risks, thus partially support the theory. However, exchange rate risks' premia are found considerably smaller than that of market risk.

  7. Stock Market Integration: Are Risk Premiums of International Assets Equal?

    Kusdhianto Setiawan

    2014-02-01

    Full Text Available This paper studies previous research on capital market integration and applies a simple international capital asset pricing model by considering the incompleteness in market integration and heteroscedasticity of the market returns. When we disregarded those two factors, we found that stock markets were integrated and the law of one price on risk premiums prevails. However, when the factors were considered, the markets were just partially integrated.

  8. Asset Identification for Security Risk Assessment in Web Applications

    Hisham M. Haddad; Brunil D. Romero

    2009-01-01

    As software applications become more complex they require more security, allowing them to reach an appropriate level of quality to manage information, and therefore achieving business objectives. Web applications represent one segment of software industry where security risk assessment is essential. Web engineering must address new challenges to provide new techniques and tools that guarantee high quality application development. This work focuses asset identification, the initial step in sec...

  9. Securitization of residential solar photovoltaic assets: Costs, risks and uncertainty

    Alafita, T.; Pearce, J.M.

    2014-01-01

    Limited access to low-cost financing is an impediment to high-velocity technological diffusion and high grid penetration of solar photovoltaic (PV) technology. Securitization of solar assets provides a potential solution to this problem. This paper assesses the viability of solar asset-backed securities (ABS) as a lower cost financing mechanism and identifies policies that could facilitate implementation of securitization. First, traditional solar financing is examined to provide a baseline for cost comparisons. Next, the securitization process is modeled. The model enables identification of several junctures at which risk and uncertainty influence costs. Next, parameter values are assigned and used to generate cost estimates. Results show that, under reasonable assumptions, securitization of solar power purchase agreements (PPA) can significantly reduce project financing costs, suggesting that securitization is a viable mechanism for improving the financing of PV projects. The clear impediment to the successful launch of a solar ABS is measuring and understanding the riskiness of underlying assets. This study identifies three classes of policy intervention that lower the cost of ABS by reducing risk or by improving the measurement of risk: (i) standardization of contracts and the contracting process, (ii) improved access to contract and equipment performance data, and (iii) geographic diversification. - Highlights: • Limited access to low-cost financing is hampering penetration of solar PV. • Solar asset-backed securities (ABS) provide a low cost financing mechanism. • Results for securitization of solar leases and power purchase agreements (PPA). • Securitization can significantly reduce project financing costs. • Identifies policy intervention that lower cost of ABS by reducing risk

  10. Confidence sets for asset correlations in portfolio credit risk

    Carlos Castro

    2012-06-01

    Full Text Available Asset correlations are of critical importance in quantifying portfolio credit risk and economic capitalin financial institutions. Estimation of asset correlation with rating transition data has focusedon the point estimation of the correlation without giving any consideration to the uncertaintyaround these point estimates. In this article we use Bayesian methods to estimate a dynamicfactor model for default risk using rating data (McNeil et al., 2005; McNeil and Wendin, 2007.Bayesian methods allow us to formally incorporate human judgement in the estimation of assetcorrelation, through the prior distribution and fully characterize a confidence set for the correlations.Results indicate: i a two factor model rather than the one factor model, as proposed bythe Basel II framework, better represents the historical default data. ii importance of unobservedfactors in this type of models is reinforced and point out that the levels of the implied asset correlationscritically depend on the latent state variable used to capture the dynamics of default,as well as other assumptions on the statistical model. iii the posterior distributions of the assetcorrelations show that the Basel recommended bounds, for this parameter, undermine the levelof systemic risk.

  11. A Case Study of Risk Informed Asset Management (RIAM) for Nuclear Power Plant

    Lee, Gyoung Cheol; Jeong, Yong Hoon; Chang, Soon Heung; Chung, Dae Wook

    2006-01-01

    Recently, the concern for Nuclear Asset Management (NAM) is increasing in nuclear industry. Asset Management is management of the financial assets of a company in order to maximize return. However, asset management in the nuclear industry is needed for coincidental consideration of nuclear safety and risk. Over fast several years, efforts for development of safety concerned and financial asset maximizing method, process and tools have been continued internationally. Risk Informed Asset Management (RIAM) is a methodology, process, and (eventually) software tool by which analyst review historical performance and develop predictive logic models and data analyses to provide plant manager and company decision-makers critical quantitative performance indicators

  12. Evaluation of the importance of the 39 subjects defined by the global forum for maintenance and asset management

    Visser, Jacobus Krige; Botha, Arnold

    2015-01-01

    The Global Forum on Maintenance and Asset Management (GFMAM) was formed in 2011 to bring together various experts, practitioners, academics, and other professionals who are active in the field of asset and maintenance management. The primary mission of GFMAM is to develop and promote knowledge, standards, and education for the maintenance and asset management professions. To fulfil this mission, GFMAM developed an ‘Asset Management Landscape’ document, which defines 39 subjects on asset manag...

  13. Human Asset Internalization and Global Sourcing of Services

    Ørberg Jensen, Peter D.; Petersen, Bent

    In this exploratory study we look at human asset aspects of offshore outsourcing of services that over time become more advanced and strategic potent to the outsourcing firms. As a consequence, the outsourcing firms might want to internalize the operations. We focus on the ways that outsourcing......, the internalization process....

  14. Environmental risk allocation in the asset rationalization process

    Kruhlak, R.M.; Miller, S.R.

    1999-01-01

    Public concern regarding the state of the environment has resulted in improved enforcement of existing laws related to protection of the environment. This has had an impact on oil and gas transactions. One of the factors which affects the nature of oil and gas acquisitions and dispositions is the risk associated with environmental conditions. For example, the purchaser of an oil or gas asset may acquire threats of prosecution under existing legislation, or may acquire significant costs associated with remediation or clean-up. Vendors may also be affected by environmental risks resulting from divestiture. Risks include increased liability, continuing liability, and a growing uncertainty over the potential extent and nature of environmental problems. These problems mean that lawyers must find adequate methods of allocating risk. The best approach is to place more emphasis on rigorous due diligence, disclosure and contractual accommodation of identifiable environmental problems at the time of the acquisition or disposition. 2 figs

  15. Correlation and Relationship Analisys for Business Risk and Company Assets

    Subagyo Ahmad

    2017-12-01

    Full Text Available Purpose : This study aims to investigate how variable ratios such as capital structure, NPM, ROA, asset structure and business risk on 60 companies listed on the IDX to know the book ending 2016. Research methodology : The method used in this research is descriptive statistic analysis, correlation analysis and multiple regression analysis. Findings : result of research explains that capital structure of 60 food and beverage industry company have significant relation with variable of Net Profit Margin (NPM equal to 0,0658, business risk equal to 0,0401, asset structure equal to 0,0019 and for ROA variable with no relation significant with a value of 0.5929. So that 3 variables that have significant relationship and 1 variable of capital structure with ROA is not significant. Originality : This study can contribute to the existing literature, especially those related to the analysis of the company’s financial ratios. And later the results of this study can be used as an investigation tool about the impact of business risk to the company’s financial analysis of the food and beverage industry.

  16. Endogenous time-varying risk aversion and asset returns.

    Berardi, Michele

    2016-01-01

    Stylized facts about statistical properties for short horizon returns in financial markets have been identified in the literature, but a satisfactory understanding for their manifestation is yet to be achieved. In this work, we show that a simple asset pricing model with representative agent is able to generate time series of returns that replicate such stylized facts if the risk aversion coefficient is allowed to change endogenously over time in response to unexpected excess returns under evolutionary forces. The same model, under constant risk aversion, would instead generate returns that are essentially Gaussian. We conclude that an endogenous time-varying risk aversion represents a very parsimonious way to make the model match real data on key statistical properties, and therefore deserves careful consideration from economists and practitioners alike.

  17. Measuring Risk Structure Using the Capital Asset Pricing Model

    Zdeněk Konečný

    2015-01-01

    Full Text Available This article is aimed at proposing of an inovative method for calculating the shares of operational and financial risks. This methodological tool will support managers while monitoring the risk structure. The method is based on the capital asset pricing model (CAPM for calculation of equity cost, namely on determination of the beta coefficient, which is the only variable, that is dependent on entrepreneurial risk. There are combined both alternative approaches for calculation betas, which means, that there are accounting data used and there is distinguished unlevered beta and levered beta. The novelty of the proposed method is based on including of quantities for measuring operational and financial risks in beta calculation. The volatility of cash flow, as a quantity for measuring of operational risk, is included in the unlevered beta. Return on equity based on the cash flow and the indebtedness are variables used in calculation of the levered beta. This modification makes it possible to calculate the share of operational risk as the proportion of the unlevered/levered beta and the share of financial risk, which is the remainder of levered beta. The modified method is applied on companies from two sectors of the Czech economy. In the data set there are companies from one cyclical sector and from one neutral sector to find out potential differences in the risk structure. The findings show, that in both sectors the share of operational risk is over 50%, however, in the neutral sector is this more dominant.

  18. THE IMPORTANCE OF INTAGIBILE ASSETS FOR TOURISTIC`S ENTERPRISE IN THE PERSPECTIVE OF GLOBALIZATION

    Maja DJUKIC

    2009-12-01

    Full Text Available In time of globalization very important role in touristic enterprise have intangible assets: human capital, information capital and organization capital. Intangible assets, especially human resources drive long-term value creation. So human resources are generally accepted as being strategically important. The main management problem is being able to make alignment of intangible assets and organization's strategy. The tools which management in tourism enterprise can use for this purpose are balanced score card and strategy map, which will be explained in this article.

  19. Positioning the Learning Asset Portfolio as a Key Component in an Organization's Enterprise Risk Management Strategy

    McAliney, Peter J.

    2009-01-01

    This article presents a process for valuing a portfolio of learning assets used by line executives across industries to value traditional business assets. Embedded within the context of enterprise risk management, this strategic asset allocation process is presented step by step, providing readers the operational considerations to implement this…

  20. Review of asset hierarchy criticality assessment and risk analysis practices.

    2014-01-01

    The MTA NYC Transit (NYCT) has begun an enterprise-wide Asset Management Improvement Program (AMIP). In : 2012, NYCT developed an executive-level concept of operations that defined a new asset management : framework following a systems engineering ap...

  1. GAR Global Risk Assessment

    Maskrey, Andrew; Safaie, Sahar

    2015-04-01

    Disaster risk management strategies, policies and actions need to be based on evidence of current disaster loss and risk patterns, past trends and future projections, and underlying risk factors. Faced with competing demands for resources, at any level it is only possible to priorities a range of disaster risk management strategies and investments with adequate understanding of realised losses, current and future risk levels and impacts on economic growth and social wellbeing as well as cost and impact of the strategy. The mapping and understanding of the global risk landscape has been greatly enhanced by the latest iteration of the GAR Global Risk Assessment and the objective of this submission is to present the GAR global risk assessment which contributed to Global Assessment Report (GAR) 2015. This initiative which has been led by UNISDR, was conducted by a consortium of technical institutions from around the world and has covered earthquake, cyclone, riverine flood, and tsunami probabilistic risk for all countries of the world. In addition, the risks associated with volcanic ash in the Asia-Pacific region, drought in various countries in sub-Saharan Africa and climate change in a number of countries have been calculated. The presentation will share thee results as well as the experience including the challenges faced in technical elements as well as the process and recommendations for the future of such endeavour.

  2. [Global risk management].

    Sghaier, W; Hergon, E; Desroches, A

    2015-08-01

    Risk management is a fundamental component of any successful company, whether it is in economic, societal or environmental aspect. Risk management is an especially important activity for companies that optimal security challenge of products and services is great. This is the case especially for the health sector institutions. Risk management is therefore a decision support tool and a means to ensure the sustainability of an organization. In this context, what methods and approaches implemented to manage the risks? Through this state of the art, we are interested in the concept of risk and risk management processes. Then we focus on the different methods of risk management and the criteria for choosing among these methods. Finally we highlight the need to supplement these methods by a systemic and global approach including through risk assessment by the audits. Copyright © 2015 Elsevier Masson SAS. All rights reserved.

  3. A Risk Management Approach to Optimal Asset Allocation

    Thomas J. Flavin; Michael R. Wickens

    2001-01-01

    This paper extends the tactical asset allocation strategy of Flavin and Wickens(1998) to incorporate the effects of macroeconomic variables in the analysis. Using a VAR in mean with a M-GARCH error structure, we can jointly model financial asset returns and macroeconomic variables, thereby exploiting any predictability in either the first- or second-order moments. Taking a set of UK\\ financial assets and the change in domestic inflation as an illustration, we find a much stronger impact on th...

  4. Risk-based asset management methodology for highway infrastructure systems.

    2004-01-01

    Maintaining the infrastructure of roads, highways, and bridges is paramount to ensuring that these assets will remain safe and reliable in the future. If maintenance costs remain the same or continue to escalate, and additional funding is not made av...

  5. Risk and Reliability of Infrastructure Asset Management Workshop

    2006-01-01

    ...) in collaboration with Headquarters, USACE and in support of the initiatives on asset management. Over 75 people attended representing 6 of 8 Corps divisions, many districts, HQ, ERDC, Institute for Water Resources and academia...

  6. Risk Exposure and Net Flow in Investment Funds: Do Shareholders Monitor Asset Allocation?

    Rafael Felipe Schiozer

    2014-03-01

    Full Text Available This study investigates the impact of asset allocation on the net flow of fixed income funds in the Brazilian market, by exploiting the exogenous variation in the risk perception of bank liabilities (CDs caused by the financial turmoil that followed Lehman Brothers’ demise in September 2008. The central hypothesis is that the exposure to assets negatively affected by the crisis impacts negatively the fund’s net flow. We find that, for mutual funds, the larger proportion of assets negatively affected by the crisis the larger the net outflow of resources, indicating that shareholders monitor asset allocation and exert disciplining power on fund managers by withdrawing their resources. In exclusive (fundos exclusivos, i.e., funds with a single shareholder, for which the shareholder is presumed to exert more influence on asset reallocation, we find no significant relationship between the exposure to assets negatively affected by the crisis and net flows.

  7. Youth Assets and Sexual Risk Behavior: Differences between Male and Female Adolescents

    Mueller, Trisha; Gavin, Lorrie; Oman, Roy; Vesely, Sara; Aspy, Cheryl; Tolma, Eleni; Rodine, Sharon

    2010-01-01

    Youth internal assets and external resources are protective factors that can help youth avoid potentially harmful behaviors. This study investigates how the relationship between youth assets or resources and two sexual risk behaviors (ever had sex and birth control use) varied by gender. Data were collected through in-home interviews from…

  8. Teaching corner: child family health international : the ethics of asset-based global health education programs.

    Evert, Jessica

    2015-03-01

    Child Family Health International (CFHI) is a U.S.-based nonprofit, nongovernmental organization (NGO) that has more than 25 global health education programs in seven countries annually serving more than 600 interprofessional undergraduate, graduate, and postgraduate participants in programs geared toward individual students and university partners. Recognized by Special Consultative Status with the United Nations Economic and Social Council (ECOSOC), CFHI utilizes an asset-based community engagement model to ensure that CFHI's programs challenge, rather than reinforce, historical power imbalances between the "Global North" and "Global South." CFHI's programs are predicated on ethical principles including reciprocity, sustainability, humility, transparency, nonmaleficence, respect for persons, and social justice.

  9. 77 FR 60732 - PACE Select Advisors Trust and UBS Global Asset Management (Americas) Inc.; Notice of Application

    2012-10-04

    ....; Institutional Capital, LLC; J.P. Morgan Investment Management, Inc.; Kayne Anderson Rudnick Investment...; Standish Mellon Asset Management Company, LLC; Systematic Financial Management, L.P.; Wellington Management... Select Advisors Trust and UBS Global Asset Management (Americas) Inc.; Notice of Application September 27...

  10. The estimation of time-varying risks in asset pricing modelling using B-Spline method

    Nurjannah; Solimun; Rinaldo, Adji

    2017-12-01

    Asset pricing modelling has been extensively studied in the past few decades to explore the risk-return relationship. The asset pricing literature typically assumed a static risk-return relationship. However, several studies found few anomalies in the asset pricing modelling which captured the presence of the risk instability. The dynamic model is proposed to offer a better model. The main problem highlighted in the dynamic model literature is that the set of conditioning information is unobservable and therefore some assumptions have to be made. Hence, the estimation requires additional assumptions about the dynamics of risk. To overcome this problem, the nonparametric estimators can also be used as an alternative for estimating risk. The flexibility of the nonparametric setting avoids the problem of misspecification derived from selecting a functional form. This paper investigates the estimation of time-varying asset pricing model using B-Spline, as one of nonparametric approach. The advantages of spline method is its computational speed and simplicity, as well as the clarity of controlling curvature directly. The three popular asset pricing models will be investigated namely CAPM (Capital Asset Pricing Model), Fama-French 3-factors model and Carhart 4-factors model. The results suggest that the estimated risks are time-varying and not stable overtime which confirms the risk instability anomaly. The results is more pronounced in Carhart’s 4-factors model.

  11. Value focused thinking : An approach to structure company values for asset risk management

    Van der Lei, T.E.; Ligtvoet, A.

    2012-01-01

    For public and semi public organizations the use of risk assessment matrices is becoming a standard approach for asset management decisions. The risk matrix allows companies to assess the chance and effects of different risks with respect to proposed investment decisions. When the values in the risk

  12. Global Health after Pentecost: Toward Theological Reflection as a Religious Health Asset

    Matthew T Bersagel Braley

    2014-01-01

    Full Text Available This article examines the recent turn on the part of global health leaders to Christian communities as allies in the response to the HIV pandemic. A cursory survey of this turn highlights how global health leaders have used the language of religious health assets to revalue the activities of faith-based organizations, including Christian churches. In this way, religious health assets — tangible and intangible — become valuable if they can be rendered intelligible and appreciated using the existing lexicon and logic of global health. As a result, the primary activity of religious entities in partnerships with global health institutions is limited to conforming their practices to the best practices of HIV programs. But a closer examination of this revaluation reveals how it obscures a distinctive dimension of Christian participation, namely, critical theological reflection. The current turn to religion as a global health ally presents an opportunity to reimagine the spaces in which complex social phenomena are described, interpreted, and responded to. Christians live into the role of co-participants in these spaces when they seek to develop a greater competence for engaging the complex arena of global health policy and programming. This competence emerges from demonstrating understanding of the empirical context in which global health is carried out as well as showing in an imaginative and compelling manner how the theological resources from their own tradition illumine the patterns and processes of human suffering. We have a unique presence and reach within communities. We have unique structures and programmes that are already in place. We are available. We are reliable. And we are sustainable. We were there long before AIDS came and we will still be there when AIDS goes away. Rev. Canon Gideon Byamugisha1

  13. 76 FR 16234 - Prompt Corrective Action; Amended Definition of Low-Risk Assets

    2011-03-23

    ...; Amended Definition of Low-Risk Assets AGENCY: National Credit Union Administration (NCUA). ACTION: Final... to reflect the absence of credit risk. Having considered the public comments addressing the Interim...), (f) and (g); 12 CFR 702.204(a)-(b). For a credit union that is subject to an additional Risk-Based...

  14. 75 FR 66298 - Prompt Corrective Action; Amended Definition of Low-Risk Assets

    2010-10-28

    ...; Amended Definition of Low-Risk Assets AGENCY: National Credit Union Administration (NCUA). ACTION: Interim...-weighting of zero, reflecting the absence of credit risk. The amendment will expand the definition of ``low... exists today, the NGNs held by a natural person credit union would fall within the ``investments'' risk...

  15. The California Central Coast Research Partnership: Building Relationships, Partnerships and Paradigms for University-Industry Research Collaboration. Appendix A. Telecommunications Asset Management in A Global Environment

    Griggs, Ken

    2003-01-01

    .... The mission of this project is threefold: To develop a blueprint or design concept for a telecommunications asset management environment that identifies, tracks, and codes global communications assets, brings them into services, and makes...

  16. Communicating asset risk: how name recognition and the format of historic volatility information affect risk perception and investment decisions.

    Weber, Elke U; Siebenmorgen, Niklas; Weber, Martin

    2005-06-01

    An experiment examined how the type and presentation format of information about investment options affected investors' expectations about asset risk, returns, and volatility and how these expectations related to asset choice. Respondents were provided with the names of 16 domestic and foreign investment options, with 10-year historical return information for these options, or with both. Historical returns were presented either as a bar graph of returns per year or as a continuous density distribution. Provision of asset names allowed for the investigation of the mechanisms underlying the home bias in investment choice and other asset familiarity effects. Respondents provided their expectations of future returns, volatility, and expected risk, and indicated the options they would choose to invest in. Expected returns closely resembled historical expected values. Risk and volatility perceptions both varied significantly as a function of the type and format of information, but in different ways. Expected returns and perceived risk, not predicted volatility, predicted portfolio decisions.

  17. Research on Methodology to Prioritize Critical Digital Assets based on Nuclear Risk Assessment

    Kim, Wonjik; Kwon, Kookheui; Kim, Hyundoo [Korea Institute of Nuclear Nonproliferation and Control, Daejeon (Korea, Republic of)

    2016-10-15

    Digital systems are used in nuclear facilities to monitor and control various types of field devices, as well as to obtain and store vital information. Therefore, it is getting important for nuclear facilities to protect digital systems from cyber-attack in terms of safety operation and public health since cyber compromise of these systems could lead to unacceptable radiological consequences. Based on KINAC/RS-015 which is a cyber security regulatory standard, regulatory activities for cyber security at nuclear facilities generally focus on critical digital assets (CDAs) which are safety, security, and emergency preparedness related digital assets. Critical digital assets are estimated over 60% among all digital assets in a nuclear power plant. Therefore, it was required to prioritize critical digital assets to improve efficiency of regulation and implementation. In this paper, the research status on methodology development to prioritize critical digital assets based on nuclear risk assessment will be introduced. In this paper, to derive digital asset directly affect accident, PRA results (ET, FT, and minimal cut set) are analyzed. According to result of analysis, digital systems related to CD are derived ESF-CCS (safety-related component control system) and Process-CCS (non-safety-related component control system) as well as Engineered Safety Features Actuation System (ESFAS). These digital assets can be identified Vital Digital Asset (VDA). Hereafter, to develop general methodology which was identified VDA related to accident among CDAs, (1) method using result of minimal cut set in PRA model will be studied and (2) method quantifying result of Digital I and C PRA which is performed to reflect all digital cabinet related to system in FT will be studied.

  18. Research on Methodology to Prioritize Critical Digital Assets based on Nuclear Risk Assessment

    Kim, Wonjik; Kwon, Kookheui; Kim, Hyundoo

    2016-01-01

    Digital systems are used in nuclear facilities to monitor and control various types of field devices, as well as to obtain and store vital information. Therefore, it is getting important for nuclear facilities to protect digital systems from cyber-attack in terms of safety operation and public health since cyber compromise of these systems could lead to unacceptable radiological consequences. Based on KINAC/RS-015 which is a cyber security regulatory standard, regulatory activities for cyber security at nuclear facilities generally focus on critical digital assets (CDAs) which are safety, security, and emergency preparedness related digital assets. Critical digital assets are estimated over 60% among all digital assets in a nuclear power plant. Therefore, it was required to prioritize critical digital assets to improve efficiency of regulation and implementation. In this paper, the research status on methodology development to prioritize critical digital assets based on nuclear risk assessment will be introduced. In this paper, to derive digital asset directly affect accident, PRA results (ET, FT, and minimal cut set) are analyzed. According to result of analysis, digital systems related to CD are derived ESF-CCS (safety-related component control system) and Process-CCS (non-safety-related component control system) as well as Engineered Safety Features Actuation System (ESFAS). These digital assets can be identified Vital Digital Asset (VDA). Hereafter, to develop general methodology which was identified VDA related to accident among CDAs, (1) method using result of minimal cut set in PRA model will be studied and (2) method quantifying result of Digital I and C PRA which is performed to reflect all digital cabinet related to system in FT will be studied

  19. Asset-Based Community Development as a Strategy for Developing Local Global Health Curricula.

    Webber, Sarah; Butteris, Sabrina M; Houser, Laura; Coller, Karen; Coller, Ryan J

    2018-02-07

    A significant and growing proportion of US children have immigrant parents, an issue of increasing importance to pediatricians. Training globally minded pediatric residents to address health inequities related to globalization is an important reason to expand educational strategies around local global health (LGH). We developed a curriculum in the pediatric global health residency track at the University of Wisconsin in an effort to address gaps in LGH education and to increase resident knowledge about local health disparities for global community members. This curriculum was founded in asset-based community development (ABCD), a strategy used in advocacy training but not reported in global health education. The initial curriculum outputs have provided the foundation for a longitudinal LGH curriculum and a community-academic partnership. Supported by a community partnership grant, this partnership is focused on establishing a community-based postpartum support group for local Latinos, with an emphasis on building capacity in the Latino community. Aspects of this curriculum can serve other programs looking to develop LGH curricula rooted in building local partnerships and capacity using an ABCD model. Copyright © 2018 Academic Pediatric Association. Published by Elsevier Inc. All rights reserved.

  20. Critical asset and portfolio risk analysis: an all-hazards framework.

    Ayyub, Bilal M; McGill, William L; Kaminskiy, Mark

    2007-08-01

    This article develops a quantitative all-hazards framework for critical asset and portfolio risk analysis (CAPRA) that considers both natural and human-caused hazards. Following a discussion on the nature of security threats, the need for actionable risk assessments, and the distinction between asset and portfolio-level analysis, a general formula for all-hazards risk analysis is obtained that resembles the traditional model based on the notional product of consequence, vulnerability, and threat, though with clear meanings assigned to each parameter. Furthermore, a simple portfolio consequence model is presented that yields first-order estimates of interdependency effects following a successful attack on an asset. Moreover, depending on the needs of the decisions being made and available analytical resources, values for the parameters in this model can be obtained at a high level or through detailed systems analysis. Several illustrative examples of the CAPRA methodology are provided.

  1. Risk measures and their applications in asset management

    S.I. Birbil (Ilker); J.B.G. Frenk (Hans); B. Kaynar; N. N. Nilay (Nilay)

    2008-01-01

    textabstractSeveral approaches exist to model decision making under risk, where risk can be broadly defined as the effect of variability of random outcomes. One of the main approaches in the practice of decision making under risk uses mean-risk models; one such well-known is the classical Markowitz

  2. What’s Next: The Status of ISO Global KM Standards and the Importance of Managing Knowledge Assets

    Young, R.

    2016-01-01

    Full text: Ron Young, CEO of Knowledge Associates International, based in Cambridge UK, is Chair of the BSI KM Standards Committee KMS/1, member of the BSI Asset Management Committee AMS/1 working with ISO 55000, and member of the ISO 30401 workgroup developing a global KM Standard. He will present the benefits, challenges and implications of a global KM standard, from his perspective, and give an update on the ISO/BSI standard development. He will also provide insights into the latest developments with knowledge asset management. (author

  3. 77 FR 52887 - Regulatory Capital Rules: Standardized Approach for Risk-Weighted Assets; Market Discipline and...

    2012-08-30

    ... Discipline and Disclosure Requirements; Proposed Rule #0;#0;Federal Register / Vol. 77 , No. 169 / Thursday... Assets; Market Discipline and Disclosure Requirements AGENCY: Office of the Comptroller of the Currency... Approach NPR) includes proposed changes to the agencies' general risk-based capital requirements for...

  4. The Earnings/Price Risk Factor in Capital Asset Pricing Models

    Rafael Falcão Noda

    2015-01-01

    Full Text Available This article integrates the ideas from two major lines of research on cost of equity and asset pricing: multi-factor models and ex ante accounting models. The earnings/price ratio is used as a proxy for the ex ante cost of equity, in order to explain realized returns of Brazilian companies within the period from 1995 to 2013. The initial finding was that stocks with high (low earnings/price ratios have higher (lower risk-adjusted realized returns, already controlled by the capital asset pricing model's beta. The results show that selecting stocks based on high earnings/price ratios has led to significantly higher risk-adjusted returns in the Brazilian market, with average abnormal returns close to 1.3% per month. We design asset pricing models including an earnings/price risk factor, i.e. high earnings minus low earnings, based on the Fama and French three-factor model. We conclude that such a risk factor is significant to explain returns on portfolios, even when controlled by size and market/book ratios. Models including the high earnings minus low earnings risk factor were better to explain stock returns in Brazil when compared to the capital asset pricing model and to the Fama and French three-factor model, having the lowest number of significant intercepts. These findings may be due to the impact of historically high inflation rates, which reduce the information content of book values, thus making the models based on earnings/price ratios better than those based on market/book ratios. Such results are different from those obtained in more developed markets and the superiority of the earnings/price ratio for asset pricing may also exist in other emerging markets.

  5. Explaining Asset Prices with Low Risk Aversion and Low Intertemporal Substitution

    Andreasen, Martin Møller; Jørgensen, Kasper

    model to explain asset prices with a low relative risk aversion (RRA) of 9.8 and a low intertemporal elasticity of substitution (IES) of 0:11. We also show that the proposed preferences allow an otherwise standard New Keynesian model to match the equity premium, the bond premium, and the risk-free rate......This paper extends the class of Epstein-Zin-Weil preferences with a new utility kernel that disentangles uncertainty about the consumption trend (long-run risk) from short-term variation around this trend (cyclical risk). Our estimation results show that these preferences enable the long-run risk...

  6. The impact of Taxation on Bank Leverage and Asset Risk

    Horvath, B.L.

    2013-01-01

    Abstract: The tax-bene t of interest deductibility encourages debt nancing, but regulatory and market constraints create dependency between bank leverage and risk. Using a large international sample of banks this paper estimates the short and long run effects of corporate income taxes (CIT) on bank

  7. Family dinner meal frequency and adolescent development: relationships with developmental assets and high-risk behaviors.

    Fulkerson, Jayne A; Story, Mary; Mellin, Alison; Leffert, Nancy; Neumark-Sztainer, Dianne; French, Simone A

    2006-09-01

    To examine associations between family meal frequency and developmental assets and high-risk behaviors among a national sample of adolescents. Anonymous surveys were distributed to 99,462 sixth to 12th grade students from public and alternative schools in 213 cities and 25 states across the United States. Logistic regression analyses tested differences in assets and high-risk behaviors by family dinner frequency. Consistent positive associations were found between the frequency of family dinners and all developmental assets, including both external (e.g., support, boundaries and expectations; odds ratio [OR] 2.1-3.7) and internal assets (e.g., commitment to learning, positive values, social competencies, and positive identity; OR 1.8-2.6); relationships were attenuated, but remained significant after adjusting for demographics and general family communication and support. Consistent inverse relationships were found between the frequency of family dinners and all high-risk behaviors measured (i.e., substance use, sexual activity, depression/suicide, antisocial behaviors, violence, school problems, binge eating/purging, and excessive weight loss; OR .36-.58), relationships were attenuated, but remained significant after adjusting for demographics and family factors. The findings of the present study suggest that the frequency of family dinner is an external developmental asset or protective factor that may curtail high-risk behaviors among youth. Creative and realistic strategies for enhancing and supporting family meals, given the context within which different families live, should be explored to promote healthy adolescent development. Family rituals such as regular mealtimes may ease the stress of daily living in the fast-paced families of today's society.

  8. Integrating risk analysis and multi-criteria decision support under uncertainty in electricity distribution system asset management

    Catrinu, M.D.; Nordgard, D.E.

    2011-01-01

    Asset managers in electricity distribution companies generally recognize the need and the challenge of adding structure and a higher degree of formal analysis into the increasingly complex asset management decisions. This implies improving the present asset management practice by making the best use of the available data and expert knowledge and by adopting new methods for risk analysis and decision support and nevertheless better ways to document the decisions made. This paper discusses methods for integrating risk analysis and multi-criteria decision support under uncertainty in electricity distribution system asset management. The focus is on how to include the different company objectives and risk analyses into a structured decision framework when deciding how to handle the physical assets of the electricity distribution network. This paper presents an illustrative example of decision support for maintenance and reinvestment strategies based, using expert knowledge, simplified risk analyses and multi-criteria decision analysis under uncertainty.

  9. The Global Age NGIOA @ Risk

    Pandya, Jayshree

    2012-01-01

    Dr. Jayshree Pandya, founder of Risk Group LLC, is ahead of the curve in addressing the changing global fundamentals of the emerging Global Age.   The Global Age, and its changing global fundamentals has brought complex, chaotic, and turbulent times for every nation—where failures on all levels have become self-evident, repetitive, destructive, and potentially hopeless in nature and uncertainty. Nations are caught off guard.   From what is visible worldwide today, the promise of progress and prosperity for all nations does not seem to have materialized in this Global Age. Instead of progress and prosperity, we see crisis and catastrophe  overpowering and overwhelming the capability of most nations to meet their promise of progress and prosperity. Nations are in crisis. This introductory book addresses the global shifts and the changing global fundamentals of the Global Age, to lay out a much needed foundation of an integrated NGIOA risk governance framework for the near future. This book will make a conv...

  10. Psychosocial Risks Generated By Assets Specific Design Software

    Remus, Furtună; Angela, Domnariu; Petru, Lazăr

    2015-07-01

    The human activity concerning an occupation is resultant from the interaction between the psycho-biological, socio-cultural and organizational-occupational factors. Tehnological development, automation and computerization that are to be found in all the branches of activity, the level of speed in which things develop, as well as reaching their complexity, require less and less physical aptitudes and more cognitive qualifications. The person included in the work process is bound in most of the cases to come in line with the organizational-occupational situations that are specific to the demands of the job. The role of the programmer is essencial in the process of execution of ordered softwares, thus the truly brilliant ideas can only come from well-rested minds, concentrated on their tasks. The actual requirements of the jobs, besides the high number of benefits and opportunities, also create a series of psycho-social risks, which can increase the level of stress during work activity, especially for those who work under pressure.

  11. Emerging technologies in educational institutions: assets and potential risks

    François Victor Tochon

    2012-12-01

    Full Text Available This article is a review of some aspects of research on electronic portfolios with a critical analysis of the pros and cons of the invasive use of new technologies for education. Besides the creation and conceptual composition of educative portfolios that help teachers grow professionnally, this instrument implies a formatting around artifacts posited as proofs of competence, which support an uncritical realist ontology that has its limitations. Thus networked learning and personal learning environments stimulate reflective teacher learning, but possibly lead portfolio users to confuse the indicator of performance with the actual competence. Portfolio creation takes much time on other activities that could be most beneficial (and could be complementary, such as shared reflection on personal belief systems. Universalist stands and standardisation seem to take the fore while educative humane value go back stage. The new wave of distance learning creates new risks in terms of depth and quality as well as health, related to the daily use of pulsed microwaves and radio frequencies. It is suggested that a mode of control independent from the financial milieux that capitalize on these innovations should be created.

  12. Mean-downside risk versus mean-variance efficient asset class allocations in relation to the investment horizon

    Ruiter, de A.J.C.; Brouwer, F.

    1996-01-01

    In this paper we examine the difference between a Mean-Downside Risk (MDR) based asset allocation decision and a Mean-Variance (MV) based decision. Using a vector autoregressive specification, future return series, trom 1 month up to 10 years, of several US stock and bond asset classes have been

  13. Making decentralised systems viable: a guide to managing decentralised assets and risks.

    Willetts, J; Fane, S; Mitchell, C

    2007-01-01

    Decentralised systems have the potential to provide a viable option for long term sustainable management of household wastewater. Yet, at present, such systems hold an uncertain status and are frequently omitted from consideration. Their potential can only be realised with improved approaches to their management, and improved methods to decision-making in planning of wastewater systems. The aim of this paper is to demonstrate the value of a novel framework to guide the planning of decentralised systems so that asset management and risk management are explicitly considered. The framework was developed through a detailed synthesis of literature and practice in the area of asset management of centralised water and wastewater systems, and risk management in the context of decentralised systems. Key aspects of the framework are attention to socio-economic risks as well as engineering, public health and ecological risks, the central place of communication with multiple stakeholders and establishing a shared asset information system. A case study is used to demonstrate how the framework can guide a different approach and lead to different, more sustainable outcomes, by explicitly considering the needs and perspectives of homeowners, water authorities, relevant government agencies and society as a whole.

  14. Using risk-informed asset management for feedwater system preventative maintenance optimization

    Kee, Ernest; Sun, Alice; Richards, Andrew; Grantom, Rick; Liming, James; Salter, James

    2004-01-01

    The initial development of a South Texas Project Nuclear Operating Company process for supporting preventative maintenance optimization by applying the Balance-Of-Plant model and Risk-Informed Asset Management alpha-level software applications is presented. Preventative maintenance activities are evaluated in the South Texas Project Risk-Informed Asset Management software while the plant maintains or improves upon high levels of nuclear safety. In the Balance-Of-Plant availability application, the level of detail in the feedwater system is enhanced to support plant decision-making at the component failure mode and human error mode level of indenture by elaborating on the current model at the super-component level of indenture. The enhanced model and modeling techniques are presented. Results of case studies in feedwater system preventative maintenance optimization sing plant-specific data are also presented. (author)

  15. Risk Quantification for Sustaining Coastal Military Installation Asset and Mission Capabilities (RC-1701)

    2014-06-06

    5a. CONTRACT NUMBER Risk Quantification for Sustaining Coastal Military Installation Asset and Mission Capabilities (RC-1701) 5b. GRANT NUMBER...Planetary Boundary Layer (PBL) wind model TC96 (Thompson and Cardone 1996), 2) Surge has been simulated using the ADvanced CIRCulation model ADCIRC...coefficient, and h is the depth of the PBL (Thompson and Cardone 1996). The cyclone pressure is defined by an axisymmetrical exponential pressure or by

  16. Time-frequency wavelet analysis of the interrelationship between the global macro assets and the fear indexes

    Abid, Fathi; Kaffel, Bilel

    2018-01-01

    Understanding the interrelationships of the global macro assets is crucial for global macro investing. This paper investigates the local variance and the interconnection between the stock, gold, oil, Forex and the implied volatility markets in the time/frequency domains using the wavelet methodology, including the wavelet power spectrum, the wavelet squared coherence and phase difference, the wavelet multiple correlation and cross-correlation. The univariate analysis reveals that, in some crisis periods, underlying asset markets present the same pattern in terms of the wavelet power spectrum indicating high volatility for the medium scale, and that for the other market stress periods, volatility behaves differently. Moreover, unlike the underlying asset markets, the implied volatility markets are characterized by high power regions across the entire period, even in the absence of economic events. Bivariate results show a bidirectional relationship between the underlying assets and their corresponding implied volatility indexes, and a steady co-movement between the stock index and its corresponding fear index. Multiple correlation analysis indicates a strong correlation between markets at high scales with evidence of a nearly perfect integration for a period longer than a year. In addition, the hedging strategies based on the volatility index lead to an increase in portfolio correlation. On the other hand, the results from multiple cross-correlations reveal that the lead-lag effect starts from the medium scale and that the VIX (stock market volatility index) index is the potential leader or follower of the other markets.

  17. Asset Decommissioning Risk Metrics for Floating Structures in the Gulf of Mexico.

    Kaiser, Mark J

    2015-08-01

    Public companies in the United States are required to report standardized values of their proved reserves and asset retirement obligations on an annual basis. When compared, these two measures provide an aggregate indicator of corporate decommissioning risk but, because of their consolidated nature, cannot readily be decomposed at a more granular level. The purpose of this article is to introduce a decommissioning risk metric defined in terms of the ratio of the expected value of an asset's reserves to its expected cost of decommissioning. Asset decommissioning risk (ADR) is more difficult to compute than a consolidated corporate risk measure, but can be used to quantify the decommissioning risk of structures and to perform regional comparisons, and also provides market signals of future decommissioning activity. We formalize two risk metrics for decommissioning and apply the ADR metric to the deepwater Gulf of Mexico (GOM) floater inventory. Deepwater oil and gas structures are expensive to construct, and at the end of their useful life, will be expensive to decommission. The value of proved reserves for the 42 floating structures in the GOM circa January 2013 is estimated to range between $37 and $80 billion for future oil prices between 60 and 120 $/bbl, which is about 10 to 20 times greater than the estimated $4.3 billion to decommission the inventory. Eni's Allegheny and MC Offshore's Jolliet tension leg platforms have ADR metrics less than one and are approaching the end of their useful life. Application of the proposed metrics in the regulatory review of supplemental bonding requirements in the U.S. Outer Continental Shelf is suggested to complement the current suite of financial metrics employed. © 2015 Society for Risk Analysis.

  18. A risk assessment model based on fuzzy logic for electricity distribution system asset management

    Alireza Yazdani

    2014-06-01

    Full Text Available Electricity distribution systems are considered as the most critical sectors in countries because of the essentiality of power supplement security, socioeconomic security, and way of life. According to the central role of electricity distribution systems, risk analysis helps decision maker determine the most serious risk items to allocate the optimal amount of resources and time. Probability-impact (PI matrix is one of the most popular methods for assessment of the risks involved in the system. However, the traditional PI matrix is criticized for its inability to take into account the inherent uncertainty imposed by real-world systems. On the other hand, fuzzy sets are capable of handling the uncertainty. Thus, in this paper, fuzzy risk assessment model is developed in order to assess risk and management for electricity distribution system asset protection. Finally, a comparison analysis is conducted to show the effectiveness and the capability of the new risk assessment model.

  19. Risk-free assets: Are they truly risk-free? A comparative study of South African rates and instruments

    Oosthuizen, A.V.

    2013-10-01

    Full Text Available Determining the price of a financial instrument is something that happens every day in the financial markets. Every price starts off with a spot price adjusted for interest until maturity of the particular instrument. The interest is usually described as risk-free interest. The price so determined is the most basic price that an investor is willing to pay if not risk is involved. Risk-free assets, then, are securities of which the future rates of return are known with certainty. An exceptional degree of confidence in the issuer of the security brings about this certainty. Risk-free assets are normally in the fixed income securities (capital markets investment category or in the liquid money market instruments such as treasury bills, category. This study attempts to determine whether the risk-free rates used by treasury managers and traders in South Africa to formulate their bond yield curves and which are used in valuation models, may be deemed risk-free. The study specifies certain criteria that an asset must satisfy in order to be used as a risk-free asset. Short term and long term South African instruments are compared to the US counterpart instruments, to gain an understanding of the South African instruments relative to the US ones. The behaviour of the risk-free instruments used in South Africa is also compared to the FTSE/JSE All Share Index and gold spot prices, which are perceived to be a risky asset classes. To gain some understanding of the behaviour of these instruments, analyses were done from different angles. The standard deviations of the daily percentage changes of the R157 were significantly lower than that of the ALSI and the gold spot price change. Compared to the ALSI and gold spot price, therefore, the R157 may be deemed a “low risk” instrument. The JIBAR was even less volatile that the R157. Interestingly, the US instruments were substantially more risky than the SA instruments over the analysis period. Also the JIBAR

  20. Global risks from energy consumption

    von Hippel, F.

    1983-01-01

    A discussion of some of the global risks associated with current and frequently proposed future levels of consumption of energy from oil, coal, fission, fusion, and renewable sources points out the the dangers are serious and relatively near term. These include world war over Persian Gulf oil, climate change due to the buildup of atmospheric carbon dioxide, the accelerated proliferation of nuclear weapons, and competition between food and energy for land and water. The author urges placing a greater emphasis on how we use energy and how to reduce energy waste. At the levels of consumption which economically justified levels of energy efficiency could bring about, enough flexibility could develop in our choice of a future energy-supply mix to dramatically reduce the associated global risks. 47 references, 3 figures

  1. Solving the collective-risk social dilemma with risky assets in well-mixed and structured populations

    Chen, Xiaojie; Zhang, Yanling; Huang, Ting-Zhu; Perc, Matjaž

    2014-11-01

    In the collective-risk social dilemma, players lose their personal endowments if contributions to the common pool are too small. This fact alone, however, does not always deter selfish individuals from defecting. The temptations to free ride on the prosocial efforts of others are strong because we are hardwired to maximize our own fitness regardless of the consequences which might have for the public good. Here we show that the addition of risky assets to the personal endowments, both of which are lost if the collective target is not reached, can contribute to solving the collective-risk social dilemma. In infinite well-mixed populations, risky assets introduce new stable and unstable mixed steady states, whereby the stable mixed steady state converges to full cooperation as either the risk of collective failure or the amount of risky assets increases. Similarly, in finite well-mixed populations, the introduction of risky assets enforces configurations where cooperative behavior thrives. In structured populations cooperation is promoted as well, but the distribution of assets among the groups is crucial. Surprisingly, we find that the completely rational allocation of assets only to the most successful groups is not optimal, and this regardless of whether the risk of collective failure is high or low. Instead, in low-risk situations bounded rational allocation of assets works best, while in high-risk situations the simplest uniform distribution of assets among all the groups is optimal. These results indicate that prosocial behavior depends sensitively on the potential losses individuals are likely to endure if they fail to cooperate.

  2. INCLUDING INTANGIBLE ASSETS IN RATES TO ESTIMATE THE RISK OF BANKRUPTCY

    Eugenia IANCU

    2017-12-01

    Full Text Available The purpose of this paper is to show that an economic entity’s intangible assets play an important role in predicting the risk of bankruptcy of the company and at the same time in its evolution. Based on benchmarking and on appeal to the experience and intuition of available human expert it can be shaped a credible model and, based on this model can be projected the future course of a business organization. Among other issues, we note that the intangible assets of a company can and should be entered into the equation for estimating the risk of bankruptcy whether it avails or not to artificial intelligence (AI techniques to solve this problem (values lead to bankruptcy and the graphics functions differ majorly when the analysis includes the Rhine rate which takes into account intangibles of firms. From the structure of the paper we can see that whatever the type of model used in predicting the risk of bankruptcy at either classic or using artificial intelligence techniques (AI a leading role in the evolution and the value of the company represents intangible.

  3. Global Drought Total Economic Loss Risk Deciles

    National Aeronautics and Space Administration — Global Drought Total Economic Loss Risk Deciles is a 2.5 minute grid of global drought total economic loss risks. A process of spatially allocating Gross Domestic...

  4. Global Volcano Mortality Risks and Distribution

    National Aeronautics and Space Administration — Global Volcano Mortality Risks and Distribution is a 2.5 minute grid representing global volcano mortality risks. The data set was constructed using historical...

  5. Global Landslide Total Economic Loss Risk Deciles

    National Aeronautics and Space Administration — Global Landslide Total Economic Loss Risk Deciles is a 2.5 minute grid of global landslide total economic loss risks. A process of spatially allocating Gross...

  6. Global Multihazard Mortality Risks and Distribution

    National Aeronautics and Space Administration — Global Multihazard Mortality Risks and Distribution is a 2.5 minute grid identifying and characterizing the nature of multihazard risk at the global scale. For this...

  7. Global Drought Mortality Risks and Distribution

    National Aeronautics and Space Administration — Global Drought Mortality Risks and Distribution is a 2.5 minute grid of global drought mortality risks. Gridded Population of the World, Version 3 (GPWv3) data...

  8. Risk analysis for decision support in electricity distribution system asset management: methods and frameworks for analysing intangible risks

    Nordgaard, Dag Eirik

    2010-04-15

    During the last 10 to 15 years electricity distribution companies throughout the world have been ever more focused on asset management as the guiding principle for their activities. Within asset management, risk is a key issue for distribution companies, together with handling of cost and performance. There is now an increased awareness of the need to include risk analyses into the companies' decision making processes. Much of the work on risk in electricity distribution systems has focused on aspects of reliability. This is understandable, since it is surely an important feature of the product delivered by the electricity distribution infrastructure, and it is high on the agenda for regulatory authorities in many countries. However, electricity distribution companies are also concerned with other risks relevant for their decision making. This typically involves intangible risks, such as safety, environmental impacts and company reputation. In contrast to the numerous methodologies developed for reliability risk analysis, there are relatively few applications of structured analyses to support decisions concerning intangible risks, even though they represent an important motivation for decisions taken in electricity distribution companies. The overall objective of this PhD work has been to explore risk analysis methods that can be used to improve and support decision making in electricity distribution system asset management, with an emphasis on the analysis of intangible risks. The main contributions of this thesis can be summarised as: An exploration and testing of quantitative risk analysis (QRA) methods to support decisions concerning intangible risks; The development of a procedure for using life curve models to provide input to QRA models; The development of a framework for risk-informed decision making where QRA are used to analyse selected problems; In addition, the results contribute to clarify the basic concepts of risk, and highlight challenges

  9. Introducing Expected Returns into Risk Parity Portfolios: A New Framework for Tactical and Strategic Asset Allocation

    Roncalli, Thierry

    2013-01-01

    Risk parity is an allocation method used to build diversified portfolios that does not rely on any assumptions of expected returns, thus placing risk management at the heart of the strategy. This explains why risk parity became a popular investment model after the global financial crisis in 2008. However, risk parity has also been criticized because it focuses on managing risk concentration rather than portfolio performance, and is therefore seen as being closer to passive management than act...

  10. Setting Optimal Bounds on Risk in Asset Allocation - a Convex Program

    James E. Falk

    2002-10-01

    Full Text Available The 'Portfolio Selection Problem' is traditionally viewed as selecting a mix of investment opportunities that maximizes the expected return subject to a bound on risk. However, in reality, portfolios are made up of a few 'asset classes' that consist of similar opportunities. The asset classes are managed by individual `sub-managers', under guidelines set by an overall portfolio manager. Once a benchmark (the `strategic' allocation has been set, an overall manager may choose to allow the sub-managers some latitude in which opportunities make up the classes. He may choose some overall bound on risk (as measured by the variance and wish to set bounds that constrain the submanagers. Mathematically we show that the problem is equivalent to finding a hyper-rectangle of maximal volume within an ellipsoid. It is a convex program, albeit with potentially a large number of constraints. We suggest a cutting plane algorithm to solve the problem and include computational results on a set of randomly generated problems as well as a real-world problem taken from the literature.

  11. A Risk-Based Approach for Asset Allocation with A Defaultable Share

    Yang Shen

    2018-02-01

    Full Text Available This paper presents a novel risk-based approach for an optimal asset allocation problem with default risk, where a money market account, an ordinary share and a defaultable security are investment opportunities in a general non-Markovian economy incorporating random market parameters. The objective of an investor is to select an optimal mix of these securities such that a risk metric of an investment portfolio is minimized. By adopting a sub-additive convex risk measure, which takes into account interest rate risk, as a measure for risk, the investment problem is discussed mathematically in a form of a two-player, zero-sum, stochastic differential game between the investor and the market. A backward stochastic differential equation approach is used to provide a flexible and theoretically sound way to solve the game problem. Closed-form expressions for the optimal strategies of the investor and the market are obtained when the penalty function is a quadratic function and when the risk measure is a sub-additive coherent risk measure. An important case of the general non-Markovian model, namely the self-exciting threshold diffusion model with time delay, is considered. Numerical examples based on simulations for the self-exciting threshold diffusion model with and without time delay are provided to illustrate how the proposed model can be applied in this important case. The proposed model can be implemented using Excel spreadsheets.

  12. The efficiency of asset management strategies to reduce urban flood risk.

    ten Veldhuis, J A E; Clemens, F H L R

    2011-01-01

    In this study, three asset management strategies were compared with respect to their efficiency to reduce flood risk. Data from call centres at two municipalities were used to quantify urban flood risks associated with three causes of urban flooding: gully pot blockage, sewer pipe blockage and sewer overloading. The efficiency of three flood reduction strategies was assessed based on their effect on the causes contributing to flood risk. The sensitivity of the results to uncertainty in the data source, citizens' calls, was analysed through incorporation of uncertainty ranges taken from customer complaint literature. Based on the available data it could be shown that increasing gully pot blockage is the most efficient action to reduce flood risk, given data uncertainty. If differences between cause incidences are large, as in the presented case study, call data are sufficient to decide how flood risk can be most efficiently reduced. According to the results of this analysis, enlargement of sewer pipes is not an efficient strategy to reduce flood risk, because flood risk associated with sewer overloading is small compared to other failure mechanisms.

  13. Comprehensive transportation asset management : risk-based inventory expansion and data needs.

    2011-12-01

    Several agencies are applying asset management principles as a business tool and paradigm to help them define goals and prioritize agency resources in decision making. Previously, transportation asset management (TAM) has focused more on big ticke...

  14. Development of an Asset Value Map for Disaster Risk Assessment in China by Spatial Disaggregation Using Ancillary Remote Sensing Data.

    Wu, Jidong; Li, Ying; Li, Ning; Shi, Peijun

    2018-01-01

    The extent of economic losses due to a natural hazard and disaster depends largely on the spatial distribution of asset values in relation to the hazard intensity distribution within the affected area. Given that statistical data on asset value are collected by administrative units in China, generating spatially explicit asset exposure maps remains a key challenge for rapid postdisaster economic loss assessment. The goal of this study is to introduce a top-down (or downscaling) approach to disaggregate administrative-unit level asset value to grid-cell level. To do so, finding the highly correlated "surrogate" indicators is the key. A combination of three data sets-nighttime light grid, LandScan population grid, and road density grid, is used as ancillary asset density distribution information for spatializing the asset value. As a result, a high spatial resolution asset value map of China for 2015 is generated. The spatial data set contains aggregated economic value at risk at 30 arc-second spatial resolution. Accuracy of the spatial disaggregation reflects redistribution errors introduced by the disaggregation process as well as errors from the original ancillary data sets. The overall accuracy of the results proves to be promising. The example of using the developed disaggregated asset value map in exposure assessment of watersheds demonstrates that the data set offers immense analytical flexibility for overlay analysis according to the hazard extent. This product will help current efforts to analyze spatial characteristics of exposure and to uncover the contributions of both physical and social drivers of natural hazard and disaster across space and time. © 2017 Society for Risk Analysis.

  15. THE ROLE OF VALUE AT RISK IN THE MANAGEMENT OF ASSET AND LIABILITIES

    Petria Nicolae

    2012-12-01

    Full Text Available ALM is the management of risk at enterprise level, the models used in ALM can be static or dynamic: single period-static models, multiple period static model, single period stochastic model, multi period stochastic model. While single period-static don't incorporate the dynamic of the economical changes the multiple period-static models are an extension of the single period-static model, the most common used are multi-period stochastic which model the evolution of financial series in time and the assets and liabilities using different types of probability distributions (Student, GED. Highly correlated with ALM is the Value at Risk which can be used as and function to be minimized in ALM models. In the Value at Risk methodology the estimation models are classified as: parametric, nonparametric, semi-parametric; we present the parametric models (GARCH models used in Value at Risk and the connections that can be established between ALM models and Value at Risk. We present the Conditional Value-at-risk and offer and example on how to calculate CVaR .

  16. Risk analysis tools for force protection and infrastructure/asset protection

    Jaeger, C.D.; Duggan, R.A.; Paulus, W.K.

    1998-01-01

    The Security Systems and Technology Center at Sandia National Laboratories has for many years been involved in the development and use of vulnerability assessment and risk analysis tools. In particular, two of these tools, ASSESS and JTS, have been used extensively for Department of Energy facilities. Increasingly, Sandia has been called upon to evaluate critical assets and infrastructures, support DoD force protection activities and assist in the protection of facilities from terrorist attacks using weapons of mass destruction. Sandia is involved in many different activities related to security and force protection and is expanding its capabilities by developing new risk analysis tools to support a variety of users. One tool, in the very early stages of development, is EnSURE, Engineered Surety Using the Risk Equation. EnSURE addresses all of the risk equation and integrates the many components into a single, tool-supported process to help determine the most cost-effective ways to reduce risk. This paper will briefly discuss some of these risk analysis tools within the EnSURE framework

  17. A multiple decision support metrics method for effective risk-informed asset management

    Liming, J.K.; Salter, J.E.

    2004-01-01

    The objective of this paper is to provide electric utilities with a concept for developing and applying effective decision support metrics via integrated risk-informed asset management (RIAM) programs for power stations and generating companies. RIAM is a process by which analysts review historical performance and develop predictive logic models and data analyses to predict critical decision support figures-of-merit (or metrics) for generating station managers and electric utility company executives. These metrics include, but are not limited to, the following: profitability, net benefit, benefit-to-cost ratio, projected return on investment, projected revenue, projected costs, asset value, safety (catastrophic facility damage frequency and consequences, etc.), power production availability (capacity factor, etc.), efficiency (heat rate), and others. RIAM applies probabilistic safety assessment (PSA) techniques and generates predictions in a probabilistic way so that metrics information can be supplied to managers in terms of probability distributions as well as point estimates. This enables the managers to apply the concept of 'confidence levels' in their critical decision-making processes. (authors)

  18. Practical application of decision support metrics for power plant risk-informed asset management

    Liming, James K.; Johnson, David H.; Kee, Ernest J.; Sun, Alice Y.; Young, Garry G.

    2003-01-01

    The objective of this paper is to provide electric utilities with a concept for developing and applying effective decision support metrics via integrated risk-informed asset management (RIAM) programs for power stations and generating companies. RIAM is a process by which analysts review historical performance and develop predictive logic models and data analyses to predict critical decision support figures-of-merit (or metrics) for generating station managers and electric utility company executives. These metrics include, but are not limited to, the following; profitability, net benefit, benefit-to-cost ratio, projected return on investment, projected revenue, projected costs, asset value, safety (catastrophic facility damage frequency and consequences, etc.), power production availability (capacity factor, etc.), efficiency (heat rate), and others. RIAM applies probabilistic safety assessment (PSA) techniques and generates predictions probabilistically so that metrics information can be supplied to managers in terms of probability distributions as well as point estimates. This enables the managers to apply the concept of 'confidence levels' in their critical decision-making processes. (author)

  19. Steam generator asset management: integrating technology and asset management

    Shoemaker, P.; Cislo, D.

    2006-01-01

    Asset Management is an established but often misunderstood discipline that is gaining momentum within the nuclear generation industry. The global impetus behind the movement toward asset management is sustainability. The discipline of asset management is based upon three fundamental aspects; key performance indicators (KPI), activity-based cost accounting, and cost benefits/risk analysis. The technology associated with these three aspects is fairly well-developed, in all but the most critical area; cost benefits/risk analysis. There are software programs that calculate, trend, and display key-performance indicators to ensure high-level visibility. Activity-based costing is a little more difficult; requiring a consensus on the definition of what comprises an activity and then adjusting cost accounting systems to track. In the United States, the Nuclear Energy Institute's Standard Nuclear Process Model (SNPM) serves as the basis for activity-based costing. As a result, the software industry has quickly adapted to develop tracking systems that include the SNPM structure. Both the KPI's and the activity-based cost accounting feed the cost benefits/risk analysis to allow for continuous improvement and task optimization; the goal of asset management. In the case where the benefits and risks are clearly understood and defined, there has been much progress in applying technology for continuous improvement. Within the nuclear generation industry, more specialized and unique software systems have been developed for active components, such as pumps and motors. Active components lend themselves well to the application of asset management techniques because failure rates can be established, which serves as the basis to quantify risk in the cost-benefits/risk analysis. A key issue with respect to asset management technologies is only now being understood and addressed, that is how to manage passive components. Passive components, such as nuclear steam generators, reactor vessels

  20. Risk and Return under Shari’a Framework: An Attempt to Develop Shari’a Compliant Asset Pricing Model (SCAPM

    Muhammad Hanif

    2011-12-01

    Full Text Available A speedy emerging area of finance is the Shari’a compliant financial system. In first decade of 21st century Islamic financing has shown tremendous increase and global volume has reached to US $ 1,041 billion by the end of 2009. Being financial intermediaries Islamic Financial Institutions (IFIs have shown commendable progress in deposit collection under profit and loss sharing schemes however investment avenues are limited in comparison of conventional banks. Although a large number of financing modes are available to IFIs, yet maintenance of required liquidity is serious issue because money market and capital market is dominated by interest based instruments and conventional practices (some are clearly prohibited by Shari’a. Recently Al-meezan Investment Management Ltd. (AIML has started screening of Shari’a compliant stocks on KSE, and provided an avenue for Shari’a Compliant Investors/IFIs to invest in equities. This study is conducted to understand conventional asset pricing models, document any mismatching with Shari’a financial system, and suggest amendments if required. Findings suggest existing models of equity pricing (CAPM, APT/MFM are very much practicable under Shari’a framework with slight modification of risk free return because under Shari’a frame work risk free returns do not exist.

  1. Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

    Louise M. Arthur; Colin A. Carter; Fay Abizadeh

    1988-01-01

    A new asset pricing model, the arbitrage pricing theory, has been developed as an alternative to the capital asset pricing model. The arbitrage pricing theory model is used to analyze the relationship between risk and return for agricultural assets. The major conclusion is that the arbitrage pricing theory results support previous capital asset pricing model findings that the estimated risk associated with agricultural assets is low. This conclusion is more robust for the arbitrage pricing th...

  2. Revealing the underlying drivers of disaster risk: a global analysis

    Peduzzi, Pascal

    2017-04-01

    Disasters events are perfect examples of compound events. Disaster risk lies at the intersection of several independent components such as hazard, exposure and vulnerability. Understanding the weight of each component requires extensive standardisation. Here, I show how footprints of past disastrous events were generated using GIS modelling techniques and used for extracting population and economic exposures based on distribution models. Using past event losses, it was possible to identify and quantify a wide range of socio-politico-economic drivers associated with human vulnerability. The analysis was applied to about nine thousand individual past disastrous events covering earthquakes, floods and tropical cyclones. Using a multiple regression analysis on these individual events it was possible to quantify each risk component and assess how vulnerability is influenced by various hazard intensities. The results show that hazard intensity, exposure, poverty, governance as well as other underlying factors (e.g. remoteness) can explain the magnitude of past disasters. Analysis was also performed to highlight the role of future trends in population and climate change and how this may impacts exposure to tropical cyclones in the future. GIS models combined with statistical multiple regression analysis provided a powerful methodology to identify, quantify and model disaster risk taking into account its various components. The same methodology can be applied to various types of risk at local to global scale. This method was applied and developed for the Global Risk Analysis of the Global Assessment Report on Disaster Risk Reduction (GAR). It was first applied on mortality risk in GAR 2009 and GAR 2011. New models ranging from global assets exposure and global flood hazard models were also recently developed to improve the resolution of the risk analysis and applied through CAPRA software to provide probabilistic economic risk assessments such as Average Annual Losses (AAL

  3. GLOBAL RISKS AND INSTRUMENTS OF ITS MINIMIZATION

    O. Havryliuk

    2014-06-01

    Full Text Available It is argued that economic globalization leads to the formation of macro-economic, political and other risks that are able to grow into global risks affecting, without exception, all national economies, creating a serious threat to national economic security. The emphasis is on the negative elements of a set of global risks, their development and minimize the possibility of using a number of tools. Ensuring firmness of the state to external risks demands continuous monitoring and forecasting of world processes and usage of economic instruments of rapid response for prevention of negative consequences. The essence of the category of "risk" is revealed and deepened. The global risks that can not affect the economic security of Ukraine is disclosed. It is shown that the emergence of these global risks has negative impact on the economic security of Ukraine.

  4. Livelihood asset maps: a multidimensional approach to measuring risk-management capacity and adaptation policy targeting—a case study in Bhutan

    Jakobsen, Kristian Thor

    2013-01-01

    to the fact that some areas facing increased level of climate-related risks lack access to productive and human capital, while other areas facing a similar situation have relatively insufficient access to financial assets. This again shows that any non-targeted policy aiming at improving households’ risk-management......The application of a livelihood asset-based approach to adaptation policy targeting is presented through the creation of maps highlighting the spatial contrasts of access to various types of livelihood assets utilizing primary household data. Thus, the livelihood maps provide policy......-makers with a tool to quickly identify areas with limited access to certain types of assets, making the latter less able to react to a changing level of climaterelated risks. In the case of Bhutan, distinct spatial patterns of asset endowments is identified using five different asset indicators drawing attention...

  5. Building Assets Reducing Risks: Academic Success for All Students through Positive Relationships and Use of Real-Time Data

    Corsello, Maryann; Sharma, Anu; Jerabek, Angela

    2015-01-01

    Building Assets Reducing Risks (BARR) is a social emotional model that achieves academic outcomes through combining use of real-time student data with proven relationship-building strategies and intensive teacher collaboration to prevent course failure. BARR is a recipient of US Department of Education "Investing in Innovation (i3)"…

  6. Acculturation and Adjustment in Latino Adolescents: How Cultural Risk Factors and Assets Influence Multiple Domains of Adolescent Mental Health

    Smokowski, Paul; Buchanan, Rachel L.; Bacallao, Martica L.

    2009-01-01

    The purpose of this study was to examine the relationships among risk factors, cultural assets, and Latino adolescent mental health outcomes. We extend past research by using a longitudinal design and evaluating direct and moderated acculturation effects across a range of internalizing, externalizing, and academic engagement outcomes. The sample…

  7. Global scientific research commons under the Nagoya Protocol: Towards a collaborative economy model for the sharing of basic research assets.

    Dedeurwaerdere, Tom; Melindi-Ghidi, Paolo; Broggiato, Arianna

    2016-01-01

    This paper aims to get a better understanding of the motivational and transaction cost features of building global scientific research commons, with a view to contributing to the debate on the design of appropriate policy measures under the recently adopted Nagoya Protocol. For this purpose, the paper analyses the results of a world-wide survey of managers and users of microbial culture collections, which focused on the role of social and internalized motivations, organizational networks and external incentives in promoting the public availability of upstream research assets. Overall, the study confirms the hypotheses of the social production model of information and shareable goods, but it also shows the need to complete this model. For the sharing of materials, the underlying collaborative economy in excess capacity plays a key role in addition to the social production, while for data, competitive pressures amongst scientists tend to play a bigger role.

  8. Globalization – Chances or Risks

    MĂDĂLINA ANTOANETA RĂDOI; ALEXANDRU OLTEANU

    2015-01-01

    There are for and against arguments as regards the process of globalization. But what is globalization: a concept, a reality or a state as such? We can consider that globalization reflects the natural continuity of a process that appeared a long time ago and that has evolved ever since or a new phenomenon that was generated by the speed with which new technology and information flow. Milton Friedman, a fervent supporter of globalization, gives an answer to the question “what is globalization”...

  9. World Summit on the Information Society finding the best use of a global asset

    2003-01-01

    "The first global summit on bridging the digital divide between rich and poor countries - the first meeting of its kind - convened in Geneva last week as governments struggled to agree on what they wanted to achieve" (2 pages)

  10. A Secure and Efficient Communications Architecture for Global Information Grid Users Via Cooperating Space Assets

    Hubenko, Jr, Victor P

    2008-01-01

    With the Information Age in full and rapid development, users expect to have global, seamless, ubiquitous, secure, and efficient communications capable of providing access to real-time applications and collaboration...

  11. Globalization – Chances or Risks

    MĂDĂLINA ANTOANETA RĂDOI

    2015-05-01

    Full Text Available There are for and against arguments as regards the process of globalization. But what is globalization: a concept, a reality or a state as such? We can consider that globalization reflects the natural continuity of a process that appeared a long time ago and that has evolved ever since or a new phenomenon that was generated by the speed with which new technology and information flow. Milton Friedman, a fervent supporter of globalization, gives an answer to the question “what is globalization”; according to him, “globalization is not a simple tendency or phantasy but rather an international system. It is the new system that has replaced the Cold War system and that, like the former one, has its own laws and logic, being able to directly or indirectly influence today’s politics, the environment, geopolitics and the economy of every country in the world.” (Friedman, 2000. Globalization represents: the unlimited ascend of technology, the free flow of information, the annihilation of territorial limits, the uniformity of economy, the free flow of capital, the mobility of the person, as well as a political form of organization that aims at a future global government.

  12. Exposure of coastal built assets in the South Pacific to climate risks

    Kumar, Lalit; Taylor, Subhashni

    2015-11-01

    Pacific island countries (PICs) are situated in a highly dynamic ocean-atmosphere interface, are dispersed over a large ocean area, and have highly populated urban centres located on the coastal margin. The built infrastructure associated with urban centres is also located within close proximity to the coastlines, exposing such infrastructure to a variety of natural and climate change-related hazards. In this research we undertake a comprehensive analysis of the exposure of built infrastructure assets to climate risk for 12 PICs. We show that 57% of the assessed built infrastructure for the 12 PICs is located within 500 m of their coastlines, amounting to a total replacement value of US$21.9 billion. Eight of the 12 PICs have 50% or more of their built infrastructure located within 500 m of their coastlines. In particular, Kiribati, Marshall Islands and Tuvalu have over 95% of their built infrastructure located within 500 m of their coastlines. Coastal adaptation costs will require substantial financial resources, which may not be available in developing countries such as the PICs, leaving them to face very high impacts but lacking the adaptive capacity.

  13. Economic perspectives of risk distribution system asset management: principles of risk valuation of grid investments

    Rud, Linda

    2010-07-01

    A main challenge of the electricity grid company is to target the right level and choice of grid investment, maintenance and renewal. The nature of grid investments poses special challenges in determining the investment cash flow, partly because a main product of the grid investment often is to improve future performance, for example in terms of increased reliability. An essential aspect of valuing grid investments is to address the value of risk. The objective of this report is to apply the insight from economic theories of risk valuation to understand fundamental aspects of the valuation of risky grid investments. (Author)

  14. The PREVIEW Global Risk Data Platform: a geoportal to serve and share global data on risk to natural hazards

    G. Giuliani

    2011-01-01

    Full Text Available With growing world population and concentration in urban and coastal areas, the exposure to natural hazards is increasing and results in higher risk of human and economic losses. Improving the identification of areas, population and assets potentially exposed to natural hazards is essential to reduce the consequences of such events. Disaster risk is a function of hazard, exposure and vulnerability. Modelling risk at the global level requires accessing and processing a large number of data, from numerous collaborating centres.

    These data need to be easily updated, and there is a need for centralizing access to this information as well as simplifying its use for non GIS specialists. The Hyogo Framework for Action provides the mandate for data sharing, so that governments and international development agencies can take appropriate decision for disaster risk reduction.

    Timely access and easy integration of geospatial data are essential to support efforts in Disaster Risk Reduction. However various issues in data availability, accessibility and integration limit the use of such data. In consequence, a framework that facilitate sharing and exchange of geospatial data on natural hazards should improve decision-making process. The PREVIEW Global Risk Data Platform is a highly interactive web-based GIS portal supported by a Spatial Data Infrastructure that offers free and interoperable access to more than 60 global data sets on nine types of natural hazards (tropical cyclones and related storm surges, drought, earthquakes, biomass fires, floods, landslides, tsunamis and volcanic eruptions and related exposure and risk. This application portrays an easy-to-use online interactive mapping interface so that users can easily work with it and seamlessly integrate data in their own data flow using fully compliant OGC Web Services (OWS.

  15. The PREVIEW Global Risk Data Platform: a geoportal to serve and share global data on risk to natural hazards

    Giuliani, G.; Peduzzi, P.

    2011-01-01

    With growing world population and concentration in urban and coastal areas, the exposure to natural hazards is increasing and results in higher risk of human and economic losses. Improving the identification of areas, population and assets potentially exposed to natural hazards is essential to reduce the consequences of such events. Disaster risk is a function of hazard, exposure and vulnerability. Modelling risk at the global level requires accessing and processing a large number of data, from numerous collaborating centres. These data need to be easily updated, and there is a need for centralizing access to this information as well as simplifying its use for non GIS specialists. The Hyogo Framework for Action provides the mandate for data sharing, so that governments and international development agencies can take appropriate decision for disaster risk reduction. Timely access and easy integration of geospatial data are essential to support efforts in Disaster Risk Reduction. However various issues in data availability, accessibility and integration limit the use of such data. In consequence, a framework that facilitate sharing and exchange of geospatial data on natural hazards should improve decision-making process. The PREVIEW Global Risk Data Platform is a highly interactive web-based GIS portal supported by a Spatial Data Infrastructure that offers free and interoperable access to more than 60 global data sets on nine types of natural hazards (tropical cyclones and related storm surges, drought, earthquakes, biomass fires, floods, landslides, tsunamis and volcanic eruptions) and related exposure and risk. This application portrays an easy-to-use online interactive mapping interface so that users can easily work with it and seamlessly integrate data in their own data flow using fully compliant OGC Web Services (OWS).

  16. Integrated risk analysis of global climate change

    Shlyakhter, Alexander; Wilson, Richard; Valverde A, L.J. Jr.

    1995-01-01

    This paper discusses several factors that should be considered in integrated risk analyses of global climate change. We begin by describing how the problem of global climate change can be subdivided into largely independent parts that can be linked together in an analytically tractable fashion. Uncertainty plays a central role in integrated risk analyses of global climate change. Accordingly, we consider various aspects of uncertainty as they relate to the climate change problem. We also consider the impacts of these uncertainties on various risk management issues, such as sequential decision strategies, value of information, and problems of interregional and intergenerational equity. (author)

  17. Risk Quantification for Sustaining Coastal Military Installation Assets and Mission Capabilities

    2014-06-01

    Sustaining Coastal Military Assets and 5a. CONTRACT NUMBER Mission Capabilities: Final Technical Report 5b. GRANT NUMBER 6. AUTHOR(S) Burks-Copes...critical assets system wide: 1) Hurricane winds have been generated using the Planetary Boundary Layer (PBL) wind model TC96 (Thompson and Cardone 1996...mean air density, pc is pressure representing the tropical cyclone, CD is the drag coefficient, and h is the depth of the PBL (Thompson and Cardone

  18. Impact of Owner-Occupied Property Valuation by Historical Cost on Fixed Assets Value at Bankruptcy Risk

    Kinga Bauer

    2015-06-01

    Full Text Available Purpose: The purpose of this article is to present the findings of the author’s own studies on the influence of owner-occupied property valuation by historical cost on fixed assets value of entities at risk of bankruptcy. Methodology: As part of the implementation of the study, objective desk research was carried out. Empirical research was carried out on a group of 100 companies on which the courts had declared bankruptcy. The study sample constituted 14% of all bankruptcy cases in 2011 and was a significant representation of the national phenomenon. Findings: The findings indicated that historical cost values of owner-occupied properties in most cases are significantly lower that estimated fair value when business activities continuation is threatened. The historical cost valuation also does not provide useful information about the market value of property, plant and equipment of entities at risk of bankruptcy that do not possess real estate. Research limitations/implications: Information about market value of fixed assets of entities at risk of bankruptcy is essential in making the decision to begin bankruptcy roceedings and estimating the ability to repay debts to creditors. Originality/value: The results are a part of the author’s own study concerning assets valuation when business activities continuation is threatened. The results emphasize the role of fair value estimation of property, plant and equipment when an entity is at risk of bankruptcy.

  19. Economic perspectives of risk distribution system asset management : principles of risk valuation of grid investments

    Rud, Linda

    2010-01-01

    A main challenge of the electricity grid company is to target the right level and choice of grid investment, maintenance and renewal. The nature of grid investments poses special challenges in determining the investment cash flow, partly because a main product of the grid investment often is to improve future performance, for example in terms of increased reliability. An essential aspect of valuing grid investments is to address the value of risk. The objective of this report is to apply the ...

  20. Global Drought Proportional Economic Loss Risk Deciles

    National Aeronautics and Space Administration — Global Drought Proportional Economic Loss Risk Deciles is a 2.5 minute grid of drought hazard economic loss as proportions of Gross Domestic Product (GDP) per...

  1. A bit risky? A comparison between Bitcoin and other assets using an intraday Value at Risk approach

    Valstad, Ole Christian Andreas; Vagstad, Kristian

    2014-01-01

    The promising cryptocurrency Bitcoin has attracted a lot of attention recently, but the high volatility of the Bitcoin price has so far been a barrier to widespread adoption. Given the way Bitcoin transactions work, users will be exposed to exchange rate risk even for short intraday horizons. This paper analyzes this risk, and compares it to more traditional assets, namely Gold and the Euro/USD exchange rate. To do this we make use of the recent literature on market risk measures for ultra-hi...

  2. Life Assets in Teenage Pregnancy

    Thatsanee Soontrapirom

    2017-05-01

    Full Text Available Background: Teenage pregnancy is an evolving global public health problem. Level of life assets could predict behaviors and take effect to less sexual risk behaviors in teenagers. Objective: To compare life assets between pregnant and non-pregnant teenagers and to evaluate the relationship between basic factors and teenage pregnancy. Methods: A total of 172 female teenagers aged 12-19 years were included. The control group was matched with the case group by age with mean age of 17.07 years old. The case group consisted of 86 pregnant teenagers who attended the Teenage Antenatal Care Unit at Siriraj Hospital. The control group consisted of 86 teenagers who were not pregnant and who had never been pregnant. The research instruments were general information and life assets inventory questionnaires developed by Suriyadeo Tripathi with Cronbach’s Alpha coefficient at 0.890. Results: Mean life assets scores were significantly higher in the control group than in the case group (T-test analysis: Mean = 94.70/87.65, SD = 17.45/22.68, p-value =.024, respectively. The control group scored more favorably than the case group on 16 items. In addition, the case group could not meet the minimum assessment criteria on 21 items, which indicated their status as an at risk group. A total of 12 factors were found to be statistically significantly associated with teenage pregnancy. Conclusion: Overall life assets were significantly higher among teenagers who had not experienced pregnancy. The risk factors included level of education, GPA, family income, mothers or family members of teenagers having experience of teenage pregnancy, main guardians, father education, mother occupation, parental relationship, family warmth and smoking were found to be significantly associated with risk of teenage pregnancy in this study. These results will help to facilitate preventive interventions and the development of policies and guidelines to control and perhaps reverse current

  3. Transitioning Lessons Learned and Assets of the Global Polio Eradication Initiative to Global and Regional Measles and Rubella Elimination.

    Kretsinger, Katrina; Strebel, Peter; Kezaala, Robert; Goodson, James L

    2017-07-01

    The Global Polio Eradication Initiative has built an extensive infrastructure with capabilities and resources that should be transitioned to measles and rubella elimination efforts. Measles continues to be a major cause of child mortality globally, and rubella continues to be the leading infectious cause of birth defects. Measles and rubella eradication is feasible and cost saving. The obvious similarities in strategies between polio elimination and measles and rubella elimination include the use of an extensive surveillance and laboratory network, outbreak preparedness and response, extensive communications and social mobilization networks, and the need for periodic supplementary immunization activities. Polio staff and resources are already connected with those of measles and rubella, and transitioning existing capabilities to measles and rubella elimination efforts allows for optimized use of resources and the best opportunity to incorporate important lessons learned from polio eradication, and polio resources are concentrated in the countries with the highest burden of measles and rubella. Measles and rubella elimination strategies rely heavily on achieving and maintaining high vaccination coverage through the routine immunization activity infrastructure, thus creating synergies with immunization systems approaches, in what is termed a "diagonal approach." © The Author 2017. Published by Oxford University Press for the Infectious Diseases Society of America.

  4. Global Risk of Nuclear Terrorism

    Emily Diez

    2010-01-01

    Full Text Available The emergence of nuclear terrorism, a threat that President Obama called "the gravest danger we face," has signaled a paradigm shift in international security. Since the collapse of the Soviet Union, sensitive nuclear technologies and materials have become increasingly available. Globalization and the inadequate enforcement of treaties and export controls have allowed the proliferation of nuclear weapons materials. Today, international terrorist organizations seek to employ weapons of mass destruction (WMD as a means to influence national policies around the world. AlQaida spokesman Suleiman Abu Gheith declared that in order to balance the injustices that have been inflicted on the Muslim population worldwide, al-Qaida's new objective is "to kill 4 million Americans–2 million of them children." As political scientist Graham Allison notes, this could be achieved with either 1,334 attacks similar in magnitude to those of 9/11, or one nuclear bomb.Building a nuclear program is an arduous task that requires tacit knowledge, the recruitment of nuclear scientists, engineers, and machinists, and the resources and time to obtain nuclear materials and components. While it is unlikely that terrorist organizations have the capacity to develop full-fledged programs in the near term, terrorist development and acquisition of nuclear weapons remains a long-term threat that requires international action.

  5. Portability, Salary and Asset Price Risk: A Continuous-Time Expected Utility Comparison of DB and DC Pension Plans

    An Chen

    2015-03-01

    Full Text Available This paper compares two different types of private retirement plans from the perspective of a representative beneficiary: a defined benefit (DB and a defined contribution (DC plan. While salary risk is the main common risk factor in DB and DC pension plans, one of the key differences is that DB plans carry portability risks, whereas DC plans bear asset price risk. We model these tradeoffs explicitly in this paper and compare these two plans in a utility-based framework. Our numerical analysis focuses on answering the question of when the beneficiary is indifferent between the DB and DC plan. Most of our results confirm the findings in the existing literature, among which, e.g., portability losses considerably reduce the relative attractiveness of the DB plan. However, we also find that the attractiveness of the DB plan can decrease in the level of risk aversion, which is inconsistent with the existing literature.

  6. Global Natural Disaster Risk Hotspots: Transition to a Regional Approach

    Lerner-Lam, A.; Chen, R.; Dilley, M.

    2005-12-01

    The "Hotspots Project" is a collaborative study of the global distribution and occurrence of multiple natural hazards and the associated exposures of populations and their economic output. In this study we assess the global risks of two disaster-related outcomes: mortality and economic losses. We estimate risk levels by combining hazard exposure with historical vulnerability for two indicators of elements at risk-gridded population and Gross Domestic Product (GDP) per unit area - for six major natural hazards: earthquakes, volcanoes, landslides, floods, drought, and cyclones. By calculating relative risks for each grid cell rather than for countries as a whole, we are able to estimate risk levels at sub-national scales. These can then be used to estimate aggregate relative multiple hazard risk at regional and national scales. Mortality-related risks are assessed on a 2.5' x 2.5' latitude-longitude grid of global population (GPW Version 3). Economic risks are assessed at the same resolution for gridded GDP per unit area, using World Bank estimates of GDP based on purchasing power parity. Global hazard data were compiled from multiple sources. The project collaborated directly with UNDP and UNEP, the International Research Institute for Climate Prediction (IRI) at Columbia, and the Norwegian Geotechnical Institute (NGI) in the creation of data sets for several hazards for which global data sets did not previously exist. Drought, flood and volcano hazards are characterized in terms of event frequency, storms by frequency and severity, earthquakes by frequency and ground acceleration exceedance probability, and landslides by an index derived from probability of occurrence. The global analysis undertaken in this project is clearly limited by issues of scale as well as by the availability and quality of data. For some hazards, there exist only 15- to 25-year global records with relatively crude spatial information. Data on historical disaster losses, and particularly on

  7. Global drivers of future river flood risk

    Winsemius, Hessel C.; Aerts, Jeroen C. J. H.; van Beek, Ludovicus P. H.; Bierkens, Marc F. P.; Bouwman, Arno; Jongman, Brenden; Kwadijk, Jaap C. J.; Ligtvoet, Willem; Lucas, Paul L.; van Vuuren, Detlef P.; Ward, Philip J.

    2016-04-01

    Understanding global future river flood risk is a prerequisite for the quantification of climate change impacts and planning effective adaptation strategies. Existing global flood risk projections fail to integrate the combined dynamics of expected socio-economic development and climate change. We present the first global future river flood risk projections that separate the impacts of climate change and socio-economic development. The projections are based on an ensemble of climate model outputs, socio-economic scenarios, and a state-of-the-art hydrologic river flood model combined with socio-economic impact models. Globally, absolute damage may increase by up to a factor of 20 by the end of the century without action. Countries in Southeast Asia face a severe increase in flood risk. Although climate change contributes significantly to the increase in risk in Southeast Asia, we show that it is dwarfed by the effect of socio-economic growth, even after normalization for gross domestic product (GDP) growth. African countries face a strong increase in risk mainly due to socio-economic change. However, when normalized to GDP, climate change becomes by far the strongest driver. Both high- and low-income countries may benefit greatly from investing in adaptation measures, for which our analysis provides a basis.

  8. Transparent Global Seismic Hazard and Risk Assessment

    Smolka, Anselm; Schneider, John; Pinho, Rui; Crowley, Helen

    2013-04-01

    Vulnerability to earthquakes is increasing, yet advanced reliable risk assessment tools and data are inaccessible to most, despite being a critical basis for managing risk. Also, there are few, if any, global standards that allow us to compare risk between various locations. The Global Earthquake Model (GEM) is a unique collaborative effort that aims to provide organizations and individuals with tools and resources for transparent assessment of earthquake risk anywhere in the world. By pooling data, knowledge and people, GEM acts as an international forum for collaboration and exchange, and leverages the knowledge of leading experts for the benefit of society. Sharing of data and risk information, best practices, and approaches across the globe is key to assessing risk more effectively. Through global projects, open-source IT development and collaborations with more than 10 regions, leading experts are collaboratively developing unique global datasets, best practice, open tools and models for seismic hazard and risk assessment. Guided by the needs and experiences of governments, companies and citizens at large, they work in continuous interaction with the wider community. A continuously expanding public-private partnership constitutes the GEM Foundation, which drives the collaborative GEM effort. An integrated and holistic approach to risk is key to GEM's risk assessment platform, OpenQuake, that integrates all above-mentioned contributions and will become available towards the end of 2014. Stakeholders worldwide will be able to calculate, visualise and investigate earthquake risk, capture new data and to share their findings for joint learning. Homogenized information on hazard can be combined with data on exposure (buildings, population) and data on their vulnerability, for loss assessment around the globe. Furthermore, for a true integrated view of seismic risk, users can add social vulnerability and resilience indices to maps and estimate the costs and benefits

  9. Financial Integration and Asset Returns

    P Martin; H Rey

    2000-01-01

    The paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which (i) the number of financial assets is endogenous; (ii) assets are imperfect substitutes; (iii) cross-border asset trade entails some transaction costs; (iv) the investment technology is indivisible. In such an environment, lower transaction costs between two financial markets translate to higher demand for as...

  10. Flood damage curves for consistent global risk assessments

    de Moel, Hans; Huizinga, Jan; Szewczyk, Wojtek

    2016-04-01

    Assessing potential damage of flood events is an important component in flood risk management. Determining direct flood damage is commonly done using depth-damage curves, which denote the flood damage that would occur at specific water depths per asset or land-use class. Many countries around the world have developed flood damage models using such curves which are based on analysis of past flood events and/or on expert judgement. However, such damage curves are not available for all regions, which hampers damage assessments in those regions. Moreover, due to different methodologies employed for various damage models in different countries, damage assessments cannot be directly compared with each other, obstructing also supra-national flood damage assessments. To address these problems, a globally consistent dataset of depth-damage curves has been developed. This dataset contains damage curves depicting percent of damage as a function of water depth as well as maximum damage values for a variety of assets and land use classes (i.e. residential, commercial, agriculture). Based on an extensive literature survey concave damage curves have been developed for each continent, while differentiation in flood damage between countries is established by determining maximum damage values at the country scale. These maximum damage values are based on construction cost surveys from multinational construction companies, which provide a coherent set of detailed building cost data across dozens of countries. A consistent set of maximum flood damage values for all countries was computed using statistical regressions with socio-economic World Development Indicators from the World Bank. Further, based on insights from the literature survey, guidance is also given on how the damage curves and maximum damage values can be adjusted for specific local circumstances, such as urban vs. rural locations, use of specific building material, etc. This dataset can be used for consistent supra

  11. EFFICIENCY OF CURRENCY ASSET CLASSES

    Mohammad R. Safarzadeh

    2013-04-01

    Full Text Available Analyzing the risk and return for the S&P Currency Index Arbitrage and the Merk Absolute Return Currency Fund, this study intends to find whether currency asset classes are worthwhile investments. To determine where the efficient currency portfolios lie in the risk and return spectrum, this paper compares the two portfolios to fixed income and equity asset portfolios. The results lead to a baffling conclusion that, in general, the returns to low-risk currency asset portfolios are higher than the equity asset portfolios of same risk level.

  12. Portfolio choice in retirement: Health risk and the demand for annuities, housing, and risky assets.

    Yogo, Motohiro

    2016-06-01

    In a life-cycle model, a retiree faces stochastic health depreciation and chooses consumption, health expenditure, and the allocation of wealth between bonds, stocks, and housing. The model explains key facts about asset allocation and health expenditure across health status and age. The portfolio share in stocks is low overall and is positively related to health, especially for younger retirees. The portfolio share in housing is negatively related to health for younger retirees and falls significantly in age. Finally, out-of-pocket health expenditure as a share of income is negatively related to health and rises in age.

  13. Portfolio choice in retirement: Health risk and the demand for annuities, housing, and risky assets*

    Yogo, Motohiro

    2016-01-01

    In a life-cycle model, a retiree faces stochastic health depreciation and chooses consumption, health expenditure, and the allocation of wealth between bonds, stocks, and housing. The model explains key facts about asset allocation and health expenditure across health status and age. The portfolio share in stocks is low overall and is positively related to health, especially for younger retirees. The portfolio share in housing is negatively related to health for younger retirees and falls significantly in age. Finally, out-of-pocket health expenditure as a share of income is negatively related to health and rises in age. PMID:27766005

  14. Assessment of Costs for a Global Climate Fund Against Public Sector Disaster Risks

    Hochrainer-Stigler, Stefan; Mechler, Reinhard; Pflug, Georg; Williges, Keith

    2013-04-01

    National governments are key actors in managing climate variability and change, yet, many countries, faced with exhausted tax bases, high levels of indebtedness and limited donor assistance, have been unable to raise sufficient and timely capital to replace or repair damaged assets and restore livelihoods following major disasters exacerbating the impacts of disaster shocks on poverty and development. For weather extremes, which form a subset of the adaptation challenge and are supposed to increase in intensity and frequency with a changing climate, we conduct an assessment of the costs of managing and financing today's public sector risks on a global scale for more than 180 countries. A countries financial vulnerability is defined as a function of its financial resilience and its exposure to disaster risk. While disaster risk is estimated in terms of asset loss distributions based on catastrophe modeling approaches, financial resilience is operationalized as the public sector's ability to pay for relief to the affected population and support the reconstruction of affected assets and infrastructure for a given event. We consider governments financially vulnerable to disasters if they cannot access sufficient funding after a disaster to cover their liabilities. We operationalize this concept by the term resource gap, which we define the net loss associated with a disaster event after exhausting all possible ex-post and ex ante financing sources. Extending this approach for all possible disaster events, the risk that a resource gap will occur over a given time-span can be calculated for each country individually and dependent on the risk level different risk instruments may have to be applied. Furthermore, our estimates may inform decisions pertaining to a "climate insurance fund" absorbing "high level" country risks exceeding the ability of any given country to pay in the case of an extreme event. Our estimates relate to today's climate, yet we suggest that

  15. 12 CFR 955.6 - Risk-based capital requirement for acquired member assets.

    2010-01-01

    ... losses as support for the credit risk of all AMA estimated by the Bank to represent a credit risk that is...) Recalculation of credit enhancement. For risk-based capital purposes, each Bank shall recalculate the estimated... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Risk-based capital requirement for acquired...

  16. ASSET guidelines

    1990-11-01

    The IAEA Assessment of Safety Significant Events Team (ASSET) Service provides advice and assistance to Member States to enhance the overall level of plant safety while dealing with the policy of prevention of incidents at nuclear power plants. The ASSET programme, initiated in 1986, is not restricted to any particular group of Member States, whether developing or industrialized, but is available to all countries with nuclear power plants in operation or approaching commercial operation. The IAEA Safety Series publications form common basis for the ASSET reviews, including the Nuclear Safety Standards (NUSS) and the Basic Safety Principles (Recommendations of Safety Series No. 75-INSAG-3). The ASSET Guidelines provide overall guidance for the experts to ensure the consistency and comprehensiveness of their review of incident investigations. Additional guidance and reference material is provided by the IAEA to complement the expertise of the ASSET members. ASSET reviews accept different approaches that contribute to ensuring an effective prevention of incidents at plants. Suggestions are offered to enhance plant safety performance. Commendable good practices are identified and generic lessons are communicated to other plants, where relevant, for long term improvement

  17. Financing Asset Sales and Business Cycles

    Arnold, Marc; Hackbarth, Dirk; Puhan, Tatjana-Xenia

    2013-01-01

    This paper analyzes the decision of firms to sell assets to fund investments (financing asset sales). For a sample of U.S. manufacturing firms during the 1971-2010 period, we document new stylized facts about financing asset sales that cannot be explained by traditional motives for selling assets, such as financial distress or financing constraints. Using a structural model of financing, investment, and macroeconomic risk, we show that financing asset sales attenuate the debt overhang problem...

  18. Modeled changes in 100 year Flood Risk and Asset Damages within Mapped Floodplains of the Contiguous United States

    Wobus, C. W.; Gutmann, E. D.; Jones, R.; Rissing, M.; Mizukami, N.; Lorie, M.; Mahoney, H.; Wood, A.; Mills, D.; Martinich, J.

    2017-12-01

    A growing body of recent work suggests that the extreme weather events that drive inland flooding are likely to increase in frequency and magnitude in a warming climate, thus increasing monetary damages from flooding in the future. We use hydrologic projections based on the Coupled Model Intercomparison Project Phase 5 (CMIP5) to estimate changes in the frequency of modeled 1% annual exceedance probability flood events at 57,116 locations across the contiguous United States (CONUS). We link these flood projections to a database of assets within mapped flood hazard zones to model changes in inland flooding damages throughout the CONUS over the remainder of the 21st century, under two greenhouse gas (GHG) emissions scenarios. Our model generates early 21st century flood damages that reasonably approximate the range of historical observations, and trajectories of future damages that vary substantially depending on the GHG emissions pathway. The difference in modeled flood damages between higher and lower emissions pathways approaches $4 billion per year by 2100 (in undiscounted 2014 dollars), suggesting that aggressive GHG emissions reductions could generate significant monetary benefits over the long-term in terms of reduced flood risk. Although the downscaled hydrologic data we used have been applied to flood impacts studies elsewhere, this research expands on earlier work to quantify changes in flood risk by linking future flood exposure to assets and damages at a national scale. Our approach relies on a series of simplifications that could ultimately affect damage estimates (e.g., use of statistical downscaling, reliance on a nationwide hydrologic model, and linking damage estimates only to 1% AEP floods). Although future work is needed to test the sensitivity of our results to these methodological choices, our results suggest that monetary damages from inland flooding could be substantially reduced through more aggressive GHG mitigation policies.

  19. Business interruption and loss of assets risk assessment in support of the design of an innovative concentrating solar power plant

    Amato, Andrea; Gallisto, Maurizio; Maccari, Augusto; Paganelli, Mauro; Compare, Michele; Zio, Enrico

    2011-01-01

    Concentrating Solar Power (CSP) plants are a promising technology of renewable energy production, as witnessed by the increasing public and private investments during the last decade. The assessment of the associated risks of business interruption (loss of production) and loss of assets due to the occurrence of undesired internal or external events, such as failures of components, unfavorable environmental conditions, etc., brings added values by informing design modifications and contributing to production assurance, for rational Company investments in these environmentally sustainable power plants. This work presents and applies a methodology for assessing the risks associated to a CSP of innovative design. The methodology is derived from traditional system risk analysis, specifically focused only on the economic consequences of the internal events of failure behavior of components. The innovation in the design considered is particularly aimed at augmenting the CSP intrinsic capability of being equipped with thermal storage systems by the introduction of a molten salt mixture as heat transfer fluid. This technology presents evident advantages in terms of system simplification and reduction of production costs but on the other hand introduces a risk factor with regards to the solidification of the salt mixture that occurs at about 240 C. (author)

  20. Asset and Liability Composition in Participating Life Insurance: The Impact on Shortfall Risk and Shareholder Value

    Gatzert, Nadine; Bohnert, Alexander; Jørgensen, Peter Løchte

    surplus appropriation schemes on the company’s shortfall risk and the shareholders’ fair risk charge. The range of products comprises temporary life annuities and endowment insurance contracts with varying surplus appropriation schemes that are modeled actuarially. We thereby also account for mortality...... risk and ensure a fair situation for shareholders. Our findings emphasize that management decisions can have a substantial impact on the company’s shortfall risk, and that their effectiveness in risk reduction varies substantially depending on the surplus appropriation scheme offered to the customer...

  1. Can we (actually) assess global risk?

    Di Baldassarre, Giuliano

    2013-04-01

    The evaluation of the dynamic interactions of the different components of global risk (e.g. hazard, exposure, vulnerability or resilience) is one of the main challenges in risk assessment and management. In state-of-the-art approaches for the analysis of risk, natural and socio-economic systems are typically treated separately by using different methods. In flood risk studies, for instance, physical scientists typically focus on the study of the probability of flooding (i.e. hazard), while social scientists mainly examine the exposure, vulnerability or resilience to flooding. However, these different components are deeply interconnected. Changes in flood hazard might trigger changes in vulnerability, and vice versa. A typical example of these interactions is the so-called "levee effect", whereby heightening levees to reduce the probability of flooding often leads to increase the potential adverse consequences of flooding as people often perceive that flood risk was completely eliminated once the levee was raised. These interconnections between the different components of risk remain largely unexplored and poorly understood. This lack of knowledge is of serious concern as it limits our ability to plan appropriate risk prevention measures. To design flood control structures, for example, state-of-the-art models can indeed provide quantitative assessments of the corresponding risk reduction associated to the lower probability of flooding. Nevertheless, current methods cannot estimate how, and to what extent, such a reduction might trigger a future increase of the potential adverse consequences of flooding (the aforementioned "levee effect"). Neither can they evaluate how the latter might (in turn) lead to the requirement of additional flood control structures. Thus, while many progresses have been made in the static assessment of flood risk, more inter-disciplinary research is required for the development of methods for dynamic risk assessment, which is very much

  2. Portfolio Choice with Illiquid Assets

    Andrew Ang; Dimitris Papanikolaou; Mark Westerfield

    2013-01-01

    We present a model of optimal allocation over liquid and illiquid assets, where illiquidity is the restriction that an asset cannot be traded for intervals of uncertain duration. Illiquidity leads to increased and state-dependent risk aversion, and reduces the allocation to both liquid and illiquid risky assets. Uncertainty about the length of the illiquidity interval, as opposed to a deterministic non-trading interval, is a primary determinant of the cost of illiquidity. We allow market liqu...

  3. Demographic controls of future global fire risk

    Knorr, W.; Arneth, A.; Jiang, L.

    2016-08-01

    Wildfires are an important component of terrestrial ecosystem ecology but also a major natural hazard to societies, and their frequency and spatial distribution must be better understood. At a given location, risk from wildfire is associated with the annual fraction of burned area, which is expected to increase in response to climate warming. Until recently, however, only a few global studies of future fire have considered the effects of other important global environmental change factors such as atmospheric CO2 levels and human activities, and how these influence fires in different regions. Here, we contrast the impact of climate change and increasing atmospheric CO2 content on burned area with that of demographic dynamics, using ensembles of climate simulations combined with historical and projected population changes under different socio-economic development pathways for 1901-2100. Historically, humans notably suppressed wildfires. For future scenarios, global burned area will continue to decline under a moderate emissions scenario, except for low population growth and fast urbanization, but start to increase again from around mid-century under high greenhouse gas emissions. Contrary to common perception, we find that human exposure to wildfires increases in the future mainly owing to projected population growth in areas with frequent wildfires, rather than by a general increase in burned area.

  4. CONVERGENCES AND DIVERGENCES IN ACCOUNTING FOR INTANGIBLE ASSETS IN THE CONTEXT OF GLOBALIZATION OF EXCHANGES AND TRANSNATIONALIZATION OF COMPANIES

    Victoria FIRESCU

    2009-12-01

    Full Text Available The current accounting treatment of intangible assets is far from being generally accepted and defined in the knowledge-based economy. The recognition and evaluation of internally generated trademarks is an unsolved aspect of accounting regulations in the context of a transnationalization phenomenon. On the other hand, residual goodwill cannot reflect the intellectual capital and the company's knowledge which help optimize and create durable value. To prevent an alteration of the comparability of companies’ financial statements, it is recommended that financial analysts take into account the economic goodwill based on entity economic performance and not the accounting goodwill which follows accounting regulations.

  5. Climate change impacts on flood risk and asset damages within mapped 100-year floodplains of the contiguous United States

    Wobus, Cameron; Gutmann, Ethan; Jones, Russell; Rissing, Matthew; Mizukami, Naoki; Lorie, Mark; Mahoney, Hardee; Wood, Andrew W.; Mills, David; Martinich, Jeremy

    2017-12-01

    A growing body of work suggests that the extreme weather events that drive inland flooding are likely to increase in frequency and magnitude in a warming climate, thus potentially increasing flood damages in the future. We use hydrologic projections based on the Coupled Model Intercomparison Project Phase 5 (CMIP5) to estimate changes in the frequency of modeled 1 % annual exceedance probability (1 % AEP, or 100-year) flood events at 57 116 stream reaches across the contiguous United States (CONUS). We link these flood projections to a database of assets within mapped flood hazard zones to model changes in inland flooding damages throughout the CONUS over the remainder of the 21st century. Our model generates early 21st century flood damages that reasonably approximate the range of historical observations and trajectories of future damages that vary substantially depending on the greenhouse gas (GHG) emissions pathway. The difference in modeled flood damages between higher and lower emissions pathways approaches USD 4 billion per year by 2100 (in undiscounted 2014 dollars), suggesting that aggressive GHG emissions reductions could generate significant monetary benefits over the long term in terms of reduced flood damages. Although the downscaled hydrologic data we used have been applied to flood impacts studies elsewhere, this research expands on earlier work to quantify changes in flood risk by linking future flood exposure to assets and damages on a national scale. Our approach relies on a series of simplifications that could ultimately affect damage estimates (e.g., use of statistical downscaling, reliance on a nationwide hydrologic model, and linking damage estimates only to 1 % AEP floods). Although future work is needed to test the sensitivity of our results to these methodological choices, our results indicate that monetary damages from inland flooding could be significantly reduced through substantial GHG mitigation.

  6. Climate change impacts on flood risk and asset damages within mapped 100-year floodplains of the contiguous United States

    C. Wobus

    2017-12-01

    Full Text Available A growing body of work suggests that the extreme weather events that drive inland flooding are likely to increase in frequency and magnitude in a warming climate, thus potentially increasing flood damages in the future. We use hydrologic projections based on the Coupled Model Intercomparison Project Phase 5 (CMIP5 to estimate changes in the frequency of modeled 1 % annual exceedance probability (1 % AEP, or 100-year flood events at 57 116 stream reaches across the contiguous United States (CONUS. We link these flood projections to a database of assets within mapped flood hazard zones to model changes in inland flooding damages throughout the CONUS over the remainder of the 21st century. Our model generates early 21st century flood damages that reasonably approximate the range of historical observations and trajectories of future damages that vary substantially depending on the greenhouse gas (GHG emissions pathway. The difference in modeled flood damages between higher and lower emissions pathways approaches USD 4 billion per year by 2100 (in undiscounted 2014 dollars, suggesting that aggressive GHG emissions reductions could generate significant monetary benefits over the long term in terms of reduced flood damages. Although the downscaled hydrologic data we used have been applied to flood impacts studies elsewhere, this research expands on earlier work to quantify changes in flood risk by linking future flood exposure to assets and damages on a national scale. Our approach relies on a series of simplifications that could ultimately affect damage estimates (e.g., use of statistical downscaling, reliance on a nationwide hydrologic model, and linking damage estimates only to 1 % AEP floods. Although future work is needed to test the sensitivity of our results to these methodological choices, our results indicate that monetary damages from inland flooding could be significantly reduced through substantial GHG mitigation.

  7. A new method to estimate risk and return of non-traded assets from cash flows : The case of private equity funds

    Driessen, J.J.A.G.; Lin, T.C.; Phalippou, L.

    2012-01-01

    We develop a new methodology to estimate abnormal performance and risk exposure of nontraded assets from cash flows. Our methodology extends the standard internal rate of return approach to a dynamic setting. The small-sample properties are validated using a simulation study. We apply the method to

  8. Monitoring highway assets using remote sensing technology : research spotlight.

    2014-04-01

    Collecting inventory data about roadway assets is a critical part of : MDOTs asset management efforts, which help the department operate, : maintain and upgrade these assets cost-effectively. Federal law requires : that states develop a risk-based...

  9. Changing Global Risk Landscape - Challenges for Risk Management (Invited)

    Wenzel, F.

    2009-12-01

    The exponentially growing losses related to natural disasters on a global scale reflect a changing risk landscape that is characterized by the influence of climate change and a growing population, particularly in urban agglomerations and coastal zones. In consequence of these trends we witness (a) new hazards such as landslides due to dwindling permafrost, new patterns of strong precipitation and related floods, potential for tropical cyclones in the Mediterranean, sea level rise and others; (b) new risks related to large numbers of people in very dense urban areas, and risks related to the vulnerability of infrastructure such as energy supply, water supply, transportation, communication, etc. (c) extreme events with unprecedented size and implications. An appropriate answer to these challenges goes beyond classical views of risk assessment and protection. It must include an understanding of risk as changing with time so that risk assessment needs to be supplemented by risk monitoring. It requires decision making under high uncertainty. The risks (i.e. potentials for future losses) of extreme events are not only high but also very difficult to quantify, as they are characterized by high levels of uncertainty. Uncertainties relate to frequency, time of occurrence, strength and impact of extreme events but also to the coping capacities of society in response to them. The characterization, quantification, reduction in the extent possible of the uncertainties is an inherent topic of extreme event research. However, they will not disappear, so a rational approach to extreme events must include more than reducing uncertainties. It requires us to assess and rate the irreducible uncertainties, to evaluate options for mitigation under large uncertainties, and their communication to societal sectors. Thus scientist need to develop methodologies that aim at a rational approach to extreme events associated with high levels of uncertainty.

  10. Polish and European SST Assets: the Solaris-Panoptes Global Network of Robotic Telescopes and the Borowiec Satellite Laser Ranging System

    Konacki, M.; Lejba, P.; Sybilski, P.; Pawłaszek, R.; Kozłowski, S.; Suchodolski, T.; Litwicki, M.; Kolb, U.; Burwitz, V.; Baader, J.; Groot, P.; Bloemen, S.; Ratajczak, M.; Helminiak, K.; Borek, R.; Chodosiewicz, P.

    2016-09-01

    We present the assets of the Nicolaus Copernicus Astronomical Center, Space Research Center (both of the Polish Academy of Sciences), two Polish companies Sybilla Technologies, Cillium Engineering and a non-profit research foundation Baltic Institute of Technology. These assets are enhanced by telescopes belonging to The Open University (UK), the Max Planck Institute for Extraterrestrial Physics and in the future the Radboud University. They consist of the Solaris-Panoptes global network of optical robotic telescopes and the satellite laser ranging station in Borowiec, Poland. These assets will contribute to the Polish and European Space Surveillance and Tracking (SST) program. The Solaris component is composed of four autonomous observatories in the Southern Hemisphere. Solaris nodes are located at the South African Astronomical Observatory (Solaris-1 and Solaris-2), Siding Spring Observatory, Australia (Solaris-3) and Complejo Astronomico El Leoncito, Argentina (Solaris-4). They are equipped with 0.5-m telescopes on ASA DDM-160 direct drive mounts, Andor iKon-L cameras and housed in 3.5-m Baader Planetarium (BP) clamshell domes. The Panoptes component is a network of telescopes operated by software from Sybilla Technologies. It currently consists of 4 telescopes at three locations, all on GM4000 mounts. One 0.36-m (Panoptes-COAST, STL- 1001E camera, 3.5 BP clamshell dome) and one 0.43-m (Panoptes-PIRATE, FLI 16803 camera, 4.5-m BP clamshell dome, with planned exchange to 0.63-m) telescope are located at the Teide Observatory (Tenerfie, Canary Islands), one 0.6-m (Panoptes-COG, SBIG STX 16803 camera, 4.5-m BP clamshell dome) telescope in Garching, Germany and one 0.5-m (Panoptes-MAM, FLI 16803 camera, 4.5-m BP slit dome) in Mammendorf, Germany. Panoptes-COAST and Panoptes-PIRATE are owned by The Open University (UK). Panoptes-COG is owned by the Max Planck Institute

  11. Asset Meltdown

    Marekwica, Marcel; Maurer, Raimond; Sebastian, Steffen P.

    2011-01-01

    Executive Summary. This paper analyzes the relation between demographic structure and real asset returns on Treasury bills, bonds, and stocks for the G7 countries (United States, Canada, Japan, Italy, France, the United Kingdom, and Germany). A macroeconomic multifactor model is used to examine a...

  12. Pricing of the Policy Life in Absence of Default Risk and Asset Liability Management

    Giandomenico, Rossano

    2006-01-01

    The model, by using the option theory, determines the fair value of the life insurance policies in absence of default risk and shows that the fair fixed guaranteed interest-rate is less than the risk free interest rate due to the exchange of options between policyholders and shareholders. Furthermore, it shows that the effective liabilities duration is different from the duration of a default free zero coupon bond with the same time of maturity such that the equity value is immunized by using...

  13. RACLOUDS - Model for Clouds Risk Analysis in the Information Assets Context

    SILVA, P. F.

    2016-06-01

    Full Text Available Cloud computing offers benefits in terms of availability and cost, but transfers the responsibility of information security management for the cloud service provider. Thus the consumer loses control over the security of their information and services. This factor has prevented the migration to cloud computing in many businesses. This paper proposes a model where the cloud consumer can perform risk analysis on providers before and after contracting the service. The proposed model establishes the responsibilities of three actors: Consumer, Provider and Security Labs. The inclusion of actor Security Labs provides more credibility to risk analysis making the results more consistent for the consumer.

  14. School-Related Assets and Youth Risk Behaviors: Alcohol Consumption and Sexual Activity

    Aspy, Cheryl B.; Vesely, Sara K.; Oman, Roy F.; Tolma, Eleni; Rodine, Sharon; Marshall, LaDonna; Fluhr, Janene

    2012-01-01

    Background: Two risk behaviors, alcohol consumption and early initiation of sexual intercourse (ISI), can have devastating consequences for youth. The purpose of this study was to determine the association of school connectedness and school-related behaviors (eg, academic performance, skipping school, getting into trouble at school) with these 2…

  15. Risk based knowledge assessments: towards a toolbox for managing key knowledge assets

    Bright, Clive

    2008-01-01

    Full text: It is now well acknowledged that considerable Knowledge Management (KM) issues are faced by national and international nuclear communities. Much of these problems relate to issues of an ageing workforce and the significantly reduced influx of new generation of nuclear engineers and scientists. The management discipline of KM contains a broad spectrum of methods and techniques. However, the effective implementation of a KM strategy requires the selection and deployment of appropriate and targeted approaches that are pertinent to the particular issues of the technical or business area within an organisation. A clear strategy is contingent upon an assessment of what are the knowledge areas and what are the key (knowledge) risk areas. In particular the following issues have to be addressed: 'what knowledge exists?', 'what is the nature and format of that knowledge?' and 'what knowledge is key to our continued, safe, and effective operation?'. Answers to such questions will enable an organisation to prioritise KM effort and employ subsequent KM approaches that are appropriate. Subsequent approaches ranging from the utilisation of information technologies, such as databases; knowledge retention methods; and the setting up of Community of Practices to share knowledge and experience. This paper considers a risk assessment based approach to KM. In so doing the paper extends work previously reported on an approach to conducting knowledge audits by considering the integration of that approach with approaches to (knowledge) risk assessment. The paper also provides a brief review of the various KM approaches that can act to reduce the level of risk faced by an organisation. The paper concludes by reflecting upon the role, value of deploying such a risk based approach. (author)

  16. Engineering Asset Management and Infrastructure Sustainability : Proceedings of the 5th World Congress on Engineering Asset Management

    Ma, Lin; Tan, Andy; Weijnen, Margot; Lee, Jay

    2012-01-01

    Engineering Asset Management 2010 represents state-of-the art trends and developments in the emerging field of engineering asset management as presented at the Fifth World Congress on Engineering Asset Management (WCEAM). The proceedings of the WCEAM 2010 is an excellent reference for practitioners, researchers and students in the multidisciplinary field of asset management, covering topics such as: Asset condition monitoring and intelligent maintenance Asset data warehousing, data mining and fusion Asset performance and level-of-service models Design and life-cycle integrity of physical assets Education and training in asset management Engineering standards in asset management Fault diagnosis and prognostics Financial analysis methods for physical assets Human dimensions in integrated asset management Information quality management Information systems and knowledge management Intelligent sensors and devices Maintenance strategies in asset management Optimisation decisions in asset management Risk management ...

  17. Development of advanced risk informed asset management tool based on system dynamics approach for nuclear power plant

    Lee, Gyoung Cheol

    2007-02-01

    In the competitive circumstance of electricity industry, the economic efficiency of electricity generation facility is the most important factor to increase their competitiveness. For nuclear power plant (NPP), safety is also an essential factor. Over fast several years, efforts for development of safety concerned and financial asset maximizing method, process and tools have been continued internationally and Risk-Informed Asset Management (RIAM) methodology is suggested by Electric Power Research Institute (EPRI). This RIAM methodology is expected to provide plant operators with a project prioritization and life cycle management planning tool for making long-term maintenance plans, guiding plant budgeting, and determining the sensitivity of a plant's economic risk to the reliability and availability of system, structure, and components (SSC), as well as other technical and economic parameters. The focus of this study is to develop model that help us to resource allocation, to find what effect such allocations on the plant economic and safety performance. Detailed research process for this goal is as follow; First step for development of advanced RIAM model is to review for current RIAM model of EPRI. This part describes the overall RIAM methodology including its conceptual model, implementation process, modular approach etc. Second step is to perform feasibility study for current EPRI's RIAM model with case study. This part shows the result of feasibility study for current RIAM method by case study and discussion for result. Finally, concept of Advanced RIAM model is developed based on system dynamics approach and parameter relationship is formulated. In advanced RIAM Model, Identification of scheduled maintenance effect on other parameters and the relationship between PM Activity and failure rate is most important factor. In this study, these relationships are formulated based on system dynamics approach. Creations of these modeling tool using Vensim

  18. Asset prices and priceless assets

    Penasse, J.N.G.

    2014-01-01

    The doctoral thesis studies several aspects of asset returns dynamics. The first three chapters focus on returns in the fine art market. The first chapter provides evidence for the existence of a slow-moving fad component in art prices that induces short-term return predictability. The article has

  19. Asset management techniques

    Schneider, Joachim; Gaul, Armin J. [RWE Energy AG, Assetmanagement, Dortmund (Germany); Neumann, Claus [RWE Transportnetz Strom GmbH, Dortmund (Germany); Hograefer, Juergen [SAG Energieversorgungsloesungen GmbH, Langen (Germany); Wellssow, Wolfram; Schwan, Michael [Siemens AG, Power Transmission and Distribution, Erlangen (Germany); Schnettler, Armin [RWTH-Aachen, Institut fuer Hochspannungstechnik, Aachen (Germany)

    2006-11-15

    Deregulation and an increasing competition in electricity markets urge energy suppliers to optimize the utilization of their equipment, focusing on technical and cost-effective aspects. As a respond to these requirements utilities introduce methods formerly used by investment managers or insurance companies. The article describes the usage of these methods, particularly with regard to asset management and risk management within electrical grids. The essential information needed to set up an appropriate asset management system and differences between asset management systems in transmission and distribution systems are discussed. The bulk of costs in electrical grids can be found in costs for maintenance and capital depreciation. A comprehensive approach for an asset management in transmission systems thus focuses on the 'life-cycle costs' of the individual equipment. The objective of the life management process is the optimal utilisation of the remaining life time regarding a given reliability of service and a constant distribution of costs for reinvestment and maintenance ensuring a suitable return. In distribution systems the high number of components would require an enormous effort for the consideration of single individuals. Therefore statistical approaches have been used successfully in practical applications. Newest insights gained by a German research project on asset management systems in distribution grids give an outlook to future developments. (author)

  20. Asset management techniques

    Schneider, Joachim; Gaul, Armin J.; Neumann, Claus; Hograefer, Juergen; Wellssow, Wolfram; Schwan, Michael; Schnettler, Armin

    2006-01-01

    Deregulation and an increasing competition in electricity markets urge energy suppliers to optimize the utilization of their equipment, focusing on technical and cost-effective aspects. As a respond to these requirements utilities introduce methods formerly used by investment managers or insurance companies. The article describes the usage of these methods, particularly with regard to asset management and risk management within electrical grids. The essential information needed to set up an appropriate asset management system and differences between asset management systems in transmission and distribution systems are discussed. The bulk of costs in electrical grids can be found in costs for maintenance and capital depreciation. A comprehensive approach for an asset management in transmission systems thus focuses on the 'life-cycle costs' of the individual equipment. The objective of the life management process is the optimal utilisation of the remaining life time regarding a given reliability of service and a constant distribution of costs for reinvestment and maintenance ensuring a suitable return. In distribution systems the high number of components would require an enormous effort for the consideration of single individuals. Therefore statistical approaches have been used successfully in practical applications. Newest insights gained by a German research project on asset management systems in distribution grids give an outlook to future developments. (author)

  1. Portfolio optimization for heavy-tailed assets: Extreme Risk Index vs. Markowitz

    Mainik, Georg; Mitov, Georgi; Rüschendorf, Ludger

    2015-01-01

    Using daily returns of the S&P 500 stocks from 2001 to 2011, we perform a backtesting study of the portfolio optimization strategy based on the extreme risk index (ERI). This method uses multivariate extreme value theory to minimize the probability of large portfolio losses. With more than 400 stocks to choose from, our study seems to be the first application of extreme value techniques in portfolio management on a large scale. The primary aim of our investigation is the potential of ERI in p...

  2. 2014 World Congress on Engineering Asset Management

    Hoohlo, Changela; Mathew, Joe

    2015-01-01

    Engineering asset management encompasses all types of engineered assets including built environment, infrastructure, plant, equipment, hardware systems and components. Following the release of ISO 5500x set of standards, the 9th WCEAM addresses the hugely important issue of what constitutes the body of knowledge in Engineering Asset Management. Topics discussed by Congress delegates are grouped into a number of tracks including strategies for investment and divestment of assets, operations and maintenance of assets, assessments of assets condition, risk and vulnerability, technologies and systems for management of asset, standards, education, training and certification. These proceedings include a sample of the wide range of topics presented during the 9th World Congress on Engineering Asset Management in Pretoria South Africa 28 – 31 October, 2014 and complements other emerging publications and standards that embrace the wide ranging issues concerning the management of engineered physical assets.

  3. Brief report: Assessing youth well-being in global emergency settings: Early results from the Emergency Developmental Assets Profile.

    Scales, Peter C; Roehlkepartain, Eugene C; Wallace, Teresa; Inselman, Ashley; Stephenson, Paul; Rodriguez, Michael

    2015-12-01

    The 13-item Emergency Developmental Assets Profile measures the well-being of children and youth in emergency settings such as refugee camps and armed conflict zones, assessing whether young people are experiencing adequate positive relationships and opportunities, and developing positive values, skills, and self-perceptions, despite being in crisis circumstances. The instrument was found to have acceptable and nearly identical internal consistency reliability in 22 administrations in non-emergency samples in 15 countries (.75), and in 4 samples of youth ages 10-18 (n = 1550) in the emergency settings (war refugees and typhoon victims, .74) that are the measure's focus, and evidence of convergent validity. Confirmatory Factor Analysis showed acceptable model fit among those youth in emergency settings. Measures of model fit showed that the Em-DAP has configural and metric invariance across all emergency contexts and scalar invariance across some. The Em-DAP is a promising brief cross-cultural tool for assessing the developmental quality of life as reported by samples of youth in a current humanitarian crisis situation. The results can help to inform international relief program decisions about services and activities to be provided for children, youth, and families in emergency settings. Copyright © 2015 The Foundation for Professionals in Services for Adolescents. Published by Elsevier Ltd. All rights reserved.

  4. Problems of intangible assets commercialization accounting

    S.F. Legenchyk

    2016-03-01

    Full Text Available The growing role of intangible assets in conditions of global economy postindustrialization is grounded. The problems of intangible assets accounting are singled out. The basic tasks of the intangible assets accounting commercialization process are determined. The difference between the commercialization of intellectual property and intangible assets is considered. The basic approaches to understanding the essence of the intangible assets commercialization are singled out and grounded. The basic forms and methods of intangible assets commercialization researched by the author are analyzed. The order of accounting reflection of licensee royalties is considered. The factors of influence on the accounting process of intangible assets commercialization are determined. The necessity of solving the problem of accounting of lease payments for computer program by providing access to SaaS environment is grounded. The prospects of further studies of intangible assets accounting commercialization are determined.

  5. Research on Calculating of Shareholder Assets in the Joint Account in the Global Market%全球市场联名账户股东资产计算的研究

    鲁大林; 吴斌

    2012-01-01

    Given the specialty of the global security account products and trading rules, and based on a research on the principles of the calculation of shareholder assets in the joint account in the global market, the presentation of common asset account data and the calculation of shareholder assets, the program is written calculate shareholders assets in Joint account in the global market with C# and SQL SERVER. The principles and methods concerned and analyzed in this paper can be used as a reference point by the global financial and investment institutions such as QFII, QDII.%通过综合考虑全球证券账户产品特点和交易规则,对全球市场联名账户股东资产计算的原理、共同资产账户数据的表示以及股东资产的计算进行了研究,并使用C^#、SQLServer编写了能完成全球市场联名账户股东资产的计算程序.所论述的计算原理和算法可以供QFII、QDII等投资全球的金融机构计算客户资产参考.

  6. A framework for global river flood risk assessments

    Winsemius, H.C.; van Beek, L.P.H.|info:eu-repo/dai/nl/14749799X; Jongman, B.; Ward, P.J.; Bouwman, A.

    2013-01-01

    There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and

  7. Global prevalence and major risk factors of diabetic retinopathy

    Yau, Joanne W Y; Rogers, Sophie L; Kawasaki, Ryo

    2012-01-01

    To examine the global prevalence and major risk factors for diabetic retinopathy (DR) and vision-threatening diabetic retinopathy (VTDR) among people with diabetes.......To examine the global prevalence and major risk factors for diabetic retinopathy (DR) and vision-threatening diabetic retinopathy (VTDR) among people with diabetes....

  8. Global scientific research commons under the Nagoya Protocol: Towards a collaborative economy model for the sharing of basic research assets

    Dedeurwaerdere, Tom; Melindi Ghidi, Paolo; Broggiato, Arianna

    2015-01-01

    This paper aims to get a better understanding of the motivational and transaction cost features of building global scientific research commons, with a view to contributing to the debate on the design of appropriate policy measures under the recently adopted Nagoya Protocol. For this purpose, the paper analyses the results of a world-wide survey of managers and users of microbial culture collections, which focused on the role of social and internalized motivations, organizational networks and ...

  9. Assets, liabilities and risks

    R. Thomson

    2014-01-01

    Financial economists and actuaries do not always talk the same language. One particular difference of concern to actuaries is the method of treatment (or non-treatment) of the liabilities of an investor in the portfolio selection problem. Another difference relates to the way in which liabilities are valued. In this paper, these differences are discussed and possible way forward are suggested.

  10. Assets, liabilities and risks

    R. Thomson

    2014-01-01

    Full Text Available Financial economists and actuaries do not always talk the same language. One particular difference of concern to actuaries is the method of treatment (or non-treatment of the liabilities of an investor in the portfolio selection problem. Another difference relates to the way in which liabilities are valued. In this paper, these differences are discussed and possible way forward are suggested.

  11. The evolution of global disaster risk assessments: from hazard to global change

    Peduzzi, Pascal

    2013-04-01

    The perception of disaster risk as a dynamic process interlinked with global change is a fairly recent concept. It gradually emerged as an evolution from new scientific theories, currents of thinking and lessons learned from large disasters since the 1970s. The interest was further heighten, in the mid-1980s, by the Chernobyl nuclear accident and the discovery of the ozone layer hole, both bringing awareness that dangerous hazards can generate global impacts. The creation of the UN International Decade for Natural Disaster Reduction (IDNDR) and the publication of the first IPCC report in 1990 reinforced the interest for global risk assessment. First global risk models including hazard, exposure and vulnerability components were available since mid-2000s. Since then increased computation power and more refined datasets resolution, led to more numerous and sophisticated global risk models. This article presents a recent history of global disaster risk models, the current status of researches for the Global Assessment Report on Disaster Risk Reduction (GAR 2013) and future challenges and limitations for the development of next generation global disaster risk models.

  12. Visual Decision Support Tool for Supporting Asset Management Performance, Risk, and Cost Analysis (WERF Report INFR5R12)

    Abstract:Managing urban water infrastructures faces the challenge of jointly dealing with assets of diverse types, useful life, cost, ages and condition. Service quality and sustainability require sound long-term planning, well aligned with tactical and operational planning and m...

  13. Public policy and risk financing strategies for global catastrophe risk management - the role of global risk initiatives

    McSharry, Patrick; Mitchell, Andrew; Anderson, Rebecca

    2010-05-01

    Decision-makers in both public and private organisations depend on accurate data and scientific understanding to adequately address climate change and the impact of extreme events. The financial impacts of catastrophes on populations and infrastructure can be offset through effective risk transfer mechanisms, structured to reflect the specific perils and levels of exposure to be covered. Optimal strategies depend on the likely socio-econonomic impact, the institutional framework, the overall objectives of the covers placed and the level of both the frequency and severity of loss potential expected. The diversity of approaches across different countries has been documented by the Spanish "Consorcio de Compensación de Seguros". We discuss why international public/private partnerships are necessary for addressing the risk of natural catastrophes. International initiatives such as the Global Earthquake Model (GEM) and the World Forum of Catastrophe Programmes (WFCP) can provide effective guidelines for constructing natural catastrophe schemes. The World Bank has been instrumental in the creation of many of the existing schemes such as the Turkish Catastrophe Insurance Pool, the Caribbean Catastrophe Risk Insurance Facility and the Mongolian Index-Based Livestock Insurance Program. We review existing schemes and report on best practice in relation to providing protection against natural catastrophe perils. The suitability of catastrophe modelling approaches to support schemes across the world are discussed and we identify opportunities to improve risk assessment for such schemes through transparent frameworks for quantifying, pricing, sharing and financing catastrophe risk on a local and global basis.

  14. Japanese views on ASSET

    Hirano, M [Department of Reactor Safety Research, Japan Atomic Energy Research Inst. (Japan)

    1997-10-01

    The presentation briefly reviews the following aspects directed to ensuring NPP safety: Japanese participation in ASSET activities; views to ASSET activities; recent operating experience in Japan; future ASSET activities.

  15. Japanese views on ASSET

    Hirano, M.

    1997-01-01

    The presentation briefly reviews the following aspects directed to ensuring NPP safety: Japanese participation in ASSET activities; views to ASSET activities; recent operating experience in Japan; future ASSET activities

  16. On the governance of global and catastrophic risks

    Faber, Michael Havbro

    2011-01-01

    The focus of the present paper regards the identification and treatment of critical issues in the process of societal decision making concerning management of global and catastrophic risks. Taking basis in recent works by the author, the paper in particular addresses: 1) Which are the most relevant...... hazards in a holistic global perspective and how may these be categorised in view of strategies for their treatment?; 2) How might robust societal decisions on risk management subject to large uncertainties be formally supported?; 3) How may available economic resources be prioritised for the purpose...... of sustainable and global life safety and health improvements? Finally, new results and perspectives are presented on the issue of allocation of resources for the purpose of improving global public health and a discussion on global risk governance concludes the paper....

  17. The credibility challenge for global fluvial flood risk analysis

    Trigg, M.A.; Birch, C.E.; Neal, J.C.; Bates, P.D.; Smith, A.; Sampson, C.C.; Yamazaki, D.; Hirabayashi, Y.; Pappenberger, F.; Dutra, E.; Ward, P.J.; Winsemius, H.C.; Salamon, P.; Dottori, F.; Rudari, R.; Kappes, M.S.; Simpson, A.L.; Hadzilacos, G.; Fewtrell, T.J.

    2016-01-01

    Quantifying flood hazard is an essential component of resilience planning, emergency response, and mitigation, including insurance. Traditionally undertaken at catchment and national scales, recently, efforts have intensified to estimate flood risk globally to better allow consistent and equitable

  18. Usefulness and limitations of global flood risk models

    Ward, Philip; Jongman, Brenden; Salamon, Peter; Simpson, Alanna; Bates, Paul; De Groeve, Tom; Muis, Sanne; Coughlan de Perez, Erin; Rudari, Roberto; Mark, Trigg; Winsemius, Hessel

    2016-04-01

    Global flood risk models are now a reality. Initially, their development was driven by a demand from users for first-order global assessments to identify risk hotspots. Relentless upward trends in flood damage over the last decade have enhanced interest in such assessments. The adoption of the Sendai Framework for Disaster Risk Reduction and the Warsaw International Mechanism for Loss and Damage Associated with Climate Change Impacts have made these efforts even more essential. As a result, global flood risk models are being used more and more in practice, by an increasingly large number of practitioners and decision-makers. However, they clearly have their limits compared to local models. To address these issues, a team of scientists and practitioners recently came together at the Global Flood Partnership meeting to critically assess the question 'What can('t) we do with global flood risk models?'. The results of this dialogue (Ward et al., 2013) will be presented, opening a discussion on similar broader initiatives at the science-policy interface in other natural hazards. In this contribution, examples are provided of successful applications of global flood risk models in practice (for example together with the World Bank, Red Cross, and UNISDR), and limitations and gaps between user 'wish-lists' and model capabilities are discussed. Finally, a research agenda is presented for addressing these limitations and reducing the gaps. Ward et al., 2015. Nature Climate Change, doi:10.1038/nclimate2742

  19. Asset Pricing in Markets with Illiquid Assets

    Longstaff, Francis A

    2005-01-01

    Many important classes of assets are illiquid in the sense that they cannot always be traded immediately. Thus, a portfolio position in these types of illiquid investments becomes at least temporarily irreversible. We study the asset-pricing implications of illiquidity in a two-asset exchange economy with heterogeneous agents. In this market, one asset is always liquid. The other asset can be traded initially, but then not again until after a “blackout†period. Illiquidity has a dramatic e...

  20. Asset management techniques for transformers

    Abu-Elanien, Ahmed E.B.; Salama, M.M.A.

    2010-01-01

    In a deregulated/reformed environment, the electric utilities are under constant pressure for reducing operating costs, enhancing the reliability of transmission and distribution equipments, and improving quality of power and services to the customer. Moreover, the risk involved in running the system without proper attention to assets integrity in service is quite high. Additionally, the probability of losing any equipment vital to the transmission and distribution system, such as power and distribution transformers, is increasing especially with the aging of power system's assets. Today the focus of operating the power system is changed and efforts are being directed to explore new approaches/techniques of monitoring, diagnosis, condition evaluation, maintenance, life assessment, and possibility of extending the life of existing assets. In this paper, a comprehensive illustration of the transformer asset management activities is presented. The importance of each activity together with the latest researches done in the area is highlighted. (author)

  1. Foreign exchange risk in terms of global financial crisis

    Michał Buszko

    2009-12-01

    Full Text Available Fx risk is one of the most important types of risk of financial activity. In practice, this risk comprises several risk aspects related to currencies exchanging, however most often it is identified with unexpected changes of their prices. In terms of the global financial crisis of 2007–2009, the fx risk has raised significantly, revealing a high daily volatility, increased spreads and the reversal of long-term exchange rate trends. Such increased risk especially influenced emerging markets economies, including Poland. Its consequence was quick strengthening of Polish currency at the beginning of the global crisis followed by a very sudden fall of its value. This event led to a substantial increase of banking risk, investment funds and corporate operations. It changed the structure of GDP sources as well as generated huge losses for exporting companies, using currency options hedging strategies.

  2. Strategic Asset Seeking by EMNEs

    Petersen, Bent; Seifert, Jr., Rene E.

    2014-01-01

    Purpose: The chapter provides an economic explanation and perspectivation of strategic asset seeking of multinational enterprises from emerging economies (EMNEs) as a prominent feature of today’s global economy. Approach: The authors apply and extend the “springboard perspective.” This perspective...

  3. Effects of climate variability on global scale flood risk

    Ward, P.; Dettinger, M. D.; Kummu, M.; Jongman, B.; Sperna Weiland, F.; Winsemius, H.

    2013-12-01

    In this contribution we demonstrate the influence of climate variability on flood risk. Globally, flooding is one of the worst natural hazards in terms of economic damages; Munich Re estimates global losses in the last decade to be in excess of $240 billion. As a result, scientifically sound estimates of flood risk at the largest scales are increasingly needed by industry (including multinational companies and the insurance industry) and policy communities. Several assessments of global scale flood risk under current and conditions have recently become available, and this year has seen the first studies assessing how flood risk may change in the future due to global change. However, the influence of climate variability on flood risk has as yet hardly been studied, despite the fact that: (a) in other fields (drought, hurricane damage, food production) this variability is as important for policy and practice as long term change; and (b) climate variability has a strong influence in peak riverflows around the world. To address this issue, this contribution illustrates the influence of ENSO-driven climate variability on flood risk, at both the globally aggregated scale and the scale of countries and large river basins. Although it exerts significant and widespread influences on flood peak discharges in many parts of the world, we show that ENSO does not have a statistically significant influence on flood risk once aggregated to global totals. At the scale of individual countries, though, strong relationships exist over large parts of the Earth's surface. For example, we find particularly strong anomalies of flood risk in El Niño or La Niña years (compared to all years) in southern Africa, parts of western Africa, Australia, parts of Central Eurasia (especially for El Niño), the western USA (especially for La Niña), and parts of South America. These findings have large implications for both decadal climate-risk projections and long-term future climate change

  4. The Diversification Benefits of Including Carbon Assets in Financial Portfolios

    Yinpeng Zhang

    2017-03-01

    Full Text Available Carbon allowances traded in the EU-Emission Trading Scheme (EU-ETS were initially designed as an economic motivation for efficiently curbing greenhouse as emissions, but now it mimics quite a few characteristics of financial assets, and have now been used as a candidate product in building financial portfolios. In this study, we examine the time-varying correlations between carbon allowance prices with other financial indices, during the third phase of EU-ETS. The results show that, at the beginning of this period, carbon price was still strongly corrected with other financial indices. However, this connection was weakened over time. Given the relative independence of carbon assets from other financial assets, we argue for the diversification benefits of including carbon assets in financial portfolios, and building such portfolios, respectively, with the traditional global minimum variance (GMV strategy, the mean-variance-OGARCH (MV-OGARCH strategy, and the dynamic conditional correlation (DCC strategy. It is shown that the portfolio built with the MV-OGARCH strategy far out-performs the others and that including carbon assets in financial portfolios does help reduce investment risks.

  5. Measuring Producers' Risk Preferences: A Global Risk Attitude Construct

    Pennings, J.M.E.; Garcia, P.

    2001-01-01

    In applied agricultural economic research various risk-attitude elicitation techniques are used. Here, we investigate whether risk-attitude measures rooted in the expected utility framework are related to measures rooted in the multi-item scale framework. Using a second-order factor analytical

  6. Pricing Volatility Referenced Assets

    Alan De Genaro Dario

    2006-12-01

    Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

  7. Association between low education and higher global cardiovascular risk.

    Di Chiara, Tiziana; Scaglione, Alessandra; Corrao, Salvatore; Argano, Christiano; Pinto, Antonio; Scaglione, Rosario

    2015-05-01

    This study was designed to evaluate the impact of educational status on global cardiovascular risk in a southern Italian urban population. The study population consisted of 488 consecutive outpatients aged 18 years and older. Educational status was categorized according to the number of years of formal education as follows: (1) low education group (education group (10-15 years). In both groups, cardiometabolic comorbidities (obesity, visceral obesity, diabetes, dyslipidemia, metabolic syndrome, microalbuminuria, left ventricular hypertrophy) and global cardiovascular risk, according to international guidelines, were analyzed. Left ventricular mass index and ejection fraction by echocardiography and E/A ratio, by pulsed-wave Doppler, were calculated. The low education group was characterized by a significantly higher prevalence of patients with visceral obesity (P=.021), hypertension (P=.010), metabolic syndrome (P=.000), and microalbuminuria (P=.000) and greater global cardiovascular risk (P=.000). Significantly increased levels of microalbuminuria (P=.000) and significantly decreased values of E/A ratio (P=.000) were also detected in the low education group. Global cardiovascular risk correlated directly with waist-to-hip ratio (P=.010), microalbuminuria (P=.015), and the metabolic syndrome (P>.012) and inversely with educational status (P=.000). Education was independently (P=.000) associated with global cardiovascular risk. These data indicate a strong association between low education and cardiometabolic comorbidities suitable to influence the evolution of chronic degenerative diseases. Preventive strategies need to be more efficient and more effective in this patient population. ©2015 Wiley Periodicals, Inc.

  8. Aqueduct: a methodology to measure and communicate global water risks

    Gassert, Francis; Reig, Paul

    2013-04-01

    The Aqueduct Water Risk Atlas (Aqueduct) is a publicly available, global database and interactive tool that maps indicators of water related risks for decision makers worldwide. Aqueduct makes use of the latest geo-statistical modeling techniques to compute a composite index and translate the most recently available hydrological data into practical information on water related risks for companies, investors, and governments alike. Twelve global indicators are grouped into a Water Risk Framework designed in response to the growing concerns from private sector actors around water scarcity, water quality, climate change, and increasing demand for freshwater. The Aqueduct framework organizes indicators into three categories of risk that bring together multiple dimensions of water related risk into comprehensive aggregated scores and includes indicators of water stress, variability in supply, storage, flood, drought, groundwater, water quality and social conflict, addressing both spatial and temporal variation in water hazards. Indicators are selected based on relevance to water users, availability and robustness of global data sources, and expert consultation, and are collected from existing datasets or derived from a Global Land Data Assimilation System (GLDAS) based integrated water balance model. Indicators are normalized using a threshold approach, and composite scores are computed using a linear aggregation scheme that allows for dynamic weighting to capture users' unique exposure to water hazards. By providing consistent scores across the globe, the Aqueduct Water Risk Atlas enables rapid comparison across diverse aspects of water risk. Companies can use this information to prioritize actions, investors to leverage financial interest to improve water management, and governments to engage with the private sector to seek solutions for more equitable and sustainable water governance. The Aqueduct Water Risk Atlas enables practical applications of scientific data

  9. The globalization of risk and risk perception: why we need a new model of risk communication for vaccines.

    Larson, Heidi; Brocard Paterson, Pauline; Erondu, Ngozi

    2012-11-01

    Risk communication and vaccines is complex and the nature of risk perception is changing, with perceptions converging, evolving and having impacts well beyond specific geographic localities and points in time, especially when amplified through the Internet and other modes of global communication. This article examines the globalization of risk perceptions and their impacts, including the example of measles and the globalization of measles, mumps and rubella (MMR) vaccine risk perceptions, and calls for a new, more holistic model of risk assessment, risk communication and risk mitigation, embedded in an ongoing process of risk management for vaccines and immunization programmes. It envisions risk communication as an ongoing process that includes trust-building strategies hand-in-hand with operational and policy strategies needed to mitigate and manage vaccine-related risks, as well as perceptions of risk.

  10. Conceptual risk assessment framework for global change risk analysis SRP

    Elphinstone, CD

    2007-12-01

    Full Text Available on two of the most important underlying factors supporting the ecosystem: productivity and hypoxia afiecting harmful algae blooms (HABs) and the rock lobsters. The risk regimes are a function of two time scales | a ‘high’ wind stress in early summer... is a condition which can lead to various negative impacts depending on the particular marine life, for instance rock lobsters stranding. The exact deflnitions of the two seasonal occurrences resulting in the risk event, ‘high’ wind stress in ‘early...

  11. A framework for global river flood risk assessments

    Winsemius, H. C.; Van Beek, L. P. H.; Jongman, B.; Ward, P. J.; Bouwman, A.

    2013-05-01

    There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and socio-economic changes. The framework's goal is to establish flood hazard and impact estimates at a high enough resolution to allow for their combination into a risk estimate, which can be used for strategic global flood risk assessments. The framework estimates hazard at a resolution of ~ 1 km2 using global forcing datasets of the current (or in scenario mode, future) climate, a global hydrological model, a global flood-routing model, and more importantly, an inundation downscaling routine. The second component of the framework combines hazard with flood impact models at the same resolution (e.g. damage, affected GDP, and affected population) to establish indicators for flood risk (e.g. annual expected damage, affected GDP, and affected population). The framework has been applied using the global hydrological model PCR-GLOBWB, which includes an optional global flood routing model DynRout, combined with scenarios from the Integrated Model to Assess the Global Environment (IMAGE). We performed downscaling of the hazard probability distributions to 1 km2 resolution with a new downscaling algorithm, applied on Bangladesh as a first case study application area. We demonstrate the risk assessment approach in Bangladesh based on GDP per capita data, population, and land use maps for 2010 and 2050. Validation of the hazard estimates has been performed using the Dartmouth Flood Observatory database. This was done by comparing a high return period flood with the maximum observed extent, as well as by comparing a time series of a single event with Dartmouth imagery of the event. Validation of modelled damage estimates was performed using observed damage estimates from the EM

  12. A framework for global river flood risk assessments

    H. C. Winsemius

    2013-05-01

    Full Text Available There is an increasing need for strategic global assessments of flood risks in current and future conditions. In this paper, we propose a framework for global flood risk assessment for river floods, which can be applied in current conditions, as well as in future conditions due to climate and socio-economic changes. The framework's goal is to establish flood hazard and impact estimates at a high enough resolution to allow for their combination into a risk estimate, which can be used for strategic global flood risk assessments. The framework estimates hazard at a resolution of ~ 1 km2 using global forcing datasets of the current (or in scenario mode, future climate, a global hydrological model, a global flood-routing model, and more importantly, an inundation downscaling routine. The second component of the framework combines hazard with flood impact models at the same resolution (e.g. damage, affected GDP, and affected population to establish indicators for flood risk (e.g. annual expected damage, affected GDP, and affected population. The framework has been applied using the global hydrological model PCR-GLOBWB, which includes an optional global flood routing model DynRout, combined with scenarios from the Integrated Model to Assess the Global Environment (IMAGE. We performed downscaling of the hazard probability distributions to 1 km2 resolution with a new downscaling algorithm, applied on Bangladesh as a first case study application area. We demonstrate the risk assessment approach in Bangladesh based on GDP per capita data, population, and land use maps for 2010 and 2050. Validation of the hazard estimates has been performed using the Dartmouth Flood Observatory database. This was done by comparing a high return period flood with the maximum observed extent, as well as by comparing a time series of a single event with Dartmouth imagery of the event. Validation of modelled damage estimates was performed using observed damage estimates from

  13. Thrombotic risk assessment in APS: the Global APS Score (GAPSS).

    Sciascia, S; Bertolaccini, M L

    2014-10-01

    Recently, we developed a risk score for antiphospholipid syndrome (APS) (Global APS Score or GAPSS). This score derived from the combination of independent risk factors for thrombosis and pregnancy loss, taking into account the antiphospholipid antibodies (aPL) profile (criteria and non-criteria aPL), the conventional cardiovascular risk factors, and the autoimmune antibodies profile. We demonstrate that risk profile in APS can be successfully assessed, suggesting that GAPSS can be a potential quantitative marker of APS-related clinical manifestations. © The Author(s) 2014 Reprints and permissions: sagepub.co.uk/journalsPermissions.nav.

  14. Benchmarking Global Food Safety Performances: The Era of Risk Intelligence.

    Valleé, Jean-Charles Le; Charlebois, Sylvain

    2015-10-01

    Food safety data segmentation and limitations hamper the world's ability to select, build up, monitor, and evaluate food safety performance. Currently, there is no metric that captures the entire food safety system, and performance data are not collected strategically on a global scale. Therefore, food safety benchmarking is essential not only to help monitor ongoing performance but also to inform continued food safety system design, adoption, and implementation toward more efficient and effective food safety preparedness, responsiveness, and accountability. This comparative study identifies and evaluates common elements among global food safety systems. It provides an overall world ranking of food safety performance for 17 Organisation for Economic Co-Operation and Development (OECD) countries, illustrated by 10 indicators organized across three food safety risk governance domains: risk assessment (chemical risks, microbial risks, and national reporting on food consumption), risk management (national food safety capacities, food recalls, food traceability, and radionuclides standards), and risk communication (allergenic risks, labeling, and public trust). Results show all countries have very high food safety standards, but Canada and Ireland, followed by France, earned excellent grades relative to their peers. However, any subsequent global ranking study should consider the development of survey instruments to gather adequate and comparable national evidence on food safety.

  15. Abundance in Capital: Global Risk Sharing and Insurance in a Changing Financial Environment

    Michel, Gero; Schaper, Christopher

    2014-05-01

    Insurance has played a viable role in the hedging of homeowners and commercial risks around the world. Countries that have significant penetration in insurance have in addition performed better after large regional or over-regional catastrophic losses. Insurance has hence increased the resilience of western societies. This is opposed to emerging or developing markets with low insurance penetration which have suffered significant drawbacks in their development after large catastrophic events. Examples include the recent Typhoon(s) in the Philippines and the 2010 Haiti earthquake. This presentation will provide insights into the opportunities, views and risk management features a global reinsurance company must assume in order to hedge and mitigate risk across the world. During the past year, an unprecedented amount of new capital has been entering the insurance market, looking for profitable investments outside the much wider capital market. Catastrophe insurance is seen as a valuable alternative to investing in assets that that have shown low returns and high correlation in the recent financial meltdown. The new capital is mostly deployed - or competing with already deployed capital - in the US where insurance penetration is already high. This is opposed to more than half of the world including all developing and most emerging countries which have low insurance penetration and often lack infrastructure hindering new capital to be deployed effectively. What is needed to overcome this obvious deficiency in capital supply and demand? One reason why it is difficult to deploy capital in developing countries is the lack of available exposure information and catastrophe models. This presentation sheds light on the potential science needs of our market and gives an overview of what is being done at Montpelier, a global reinsurance company, to understand catastrophe risk around the globe.

  16. FINANCIAL RISK COVERAGE IN THE CONTEXT OF GLOBALIZATION FINANCIAL MARKETS

    María Esperanza González-del Foyo

    2016-01-01

    Full Text Available In a globalized environment, the increase of risks that assume the international commerce makes necessary the to articulate the instruments of covering. The enterprise activity and the country in matter will condition in a great measure the type of covering that be needed to contract, the principal consist in: knowing the risks, evaluate its incidence, decide to cover it or assume it and in both cases the right choise most be the aplication of the strategy thatt be more efective. The States put under disposition of the enterprises a series of public mechanismes to help them to promote its internationalitation . One of the pillars where this politics rest is the use of mechanismes of riskes cover in the internacional commerce. In correspondence with the previous, to reflect on the aplications of the financial risk and the formulation of strategies to cover them in conditions of globalization of the financial markets, constitute the objetive of this article. 

  17. Sovereign Credit Risk in Latin America and Global Common Factors

    Manuel Agosin Trumper; Juan Díaz Maureira

    2012-01-01

    This paper studies the importance of global common factors in the evolution of sovereign credit risk in a group of emerging economies (15 countries in Latin America for which daily data are available on sovereign credit spreads and CDS quotations from the beginning of 2007 until February 2012). We arrive at three principal results. First, there is robust evidence for the existence of a common factor in the evolution of the two measurements of sovereign credit risk that we use. Second, the com...

  18. Communicating health risks to the public: a global perspective

    Hillier, Dawn

    2006-01-01

    ... under the Copyright, Designs and Patents Act, 1988, to be identified as the author of this work. British Library Cataloguing in Publication Data Communicating health risks to the public : a global perspective 1. Health risk communication I. Hillier, Dawn, 1950- 614.4'4 ISBN-13: 978-0-566-08672-4 ISBN-10: 0 566 08672 7 Library of Congress Cataloging-in-Publ...

  19. QUANTITATIVE INDICATORS OF THE SECURITIZATION OF ASSETS

    Denis VOSTRICOV

    2018-02-01

    Full Text Available Securitization is instrumental in return on capital increment through the withdrawal from the balance oflending activities being accompanied by off-balance incomes flow from fees, which are less capital-intensive. Thepurpose of this paper is to analyze the quantitative indicators characterizing the securitization of assets. For draftingthis article, the method of analysis, synthesis method, logic and dialectic method, normative method, the study ofstatistical sampling and time series of expert evaluations (Standard and Poor’s, personal observations, andmonographic studies have been used. The main difference between the securitization of assets from traditional waysof financing is related to the achievement of a plenty of secondary goals in attracting financial resources, whichcan play a significant role in choosing to favour the securitization of assets or other types of financing. Inparticular, it gives a possibility to write off the assets from the balance sheet along with the relevant obligationsunder the securities, to expand the range of potential investors accompanied by the reducing of credit risk, interestrate and liquidity risk, as well as to improve the management quality of assets, liabilities and risks. All of thesesecondary effects are achieved by the isolation of selected assets from the total credit risk of the enterprise, raisingits funds, which forms the pivotal actuality and significance of asset securitization. The article containsdemonstrations of quantitative and qualitative indicators characterizing the securitization of assets.

  20. 12 CFR 347.210 - Asset maintenance.

    2010-01-01

    ... primary regulator, may require that a higher ratio of eligible assets be maintained if the financial..., copies of periodic memoranda that include an analysis of the borrower's recent financial statements and a... requiring a higher ratio of eligible assets are the concentration of risk to any one borrower or group of...

  1. Liquidity-related plan asset issues.

    Murphy, B B; Johnson, M K; Zorn, W P

    2000-12-01

    By about 2025, most baby boomers will have retired, which will put a tremendous strain on public sector pension plans. Many will experience negative cash flows, and liquidity will be an increasing concern. Asset/liability studies can help measure the effect of this risk on system funding and contribution requirements, resulting in more informed asset allocation choices and benefit policies.

  2. Education and hypertension: impact on global cardiovascular risk.

    Di Chiara, Tiziana; Scaglione, Alessandra; Corrao, Salvatore; Argano, Christiano; Pinto, Antonio; Scaglione, Rosario

    2017-10-01

    Improving cardiovascular risk prediction continues to be a major challenge and effective prevention of cardiovascular disease. Accordingly, several studies have recently reported on the role of cardiovascular risk education. This study was designed to evaluate the impact of education on global cardiovascular risk in hypertensive patients. The study population consisted of 223 consecutive hypertensive outpatients. Their educational status was categorized according to the number of years of formal education as follows: (1) low education (less than 10 years) and (2) medium-high education (10-15 years). In both groups, cardiometabolic comorbidities, global cardiovascular risk and echocardiographic measurements were analysed. Less educated hypertensive subjects were characterized by a significantly higher prevalence of patients with metabolic syndrome (MetS) (p educated hypertensive subjects. In the same subjects, a significant increase in microalbuminuria (MA) (p education (r = -0.45; p Education was independently (p education may be considered the best predictor of global cardiovascular risk in hypertensives and thus has to be evaluated in the strategies of hypertension and cardiovascular risk management.

  3. ENSO impacts on flood risk at the global scale

    Ward, Philip; Dettinger, Michael; Jongman, Brenden; Kummu, Matti; Winsemius, Hessel

    2014-05-01

    We present the impacts of El Niño Southern Oscillation (ENSO) on society and the economy, via relationships between ENSO and the hydrological cycle. We also discuss ways in which this knowledge can be used in disaster risk management and risk reduction. This contribution provides the most recent results of an ongoing 4-year collaborative research initiative to assess and map the impacts of large scale interannual climate variability on flood hazard and risk at the global scale. We have examined anomalies in flood risk between ENSO phases, whereby flood risk is expressed in terms of indicators such as: annual expected damage; annual expected affected population; annual expected affected Gross Domestic Product (GDP). We show that large anomalies in flood risk occur during El Niño or La Niña years in basins covering large parts of the Earth's surface. These anomalies reach statistical significance river basins covering almost two-thirds of the Earth's surface. Particularly strong anomalies exist in southern Africa, parts of western Africa, Australia, parts of Central Eurasia (especially for El Niño), the western USA (especially La Niña anomalies), and parts of South America. We relate these anomalies to possible causal relationships between ENSO and flood hazard, using both modelled and observed data on flood occurrence and extremity. The implications for flood risk management are many-fold. In those regions where disaster risk is strongly influenced by ENSO, the potential predictably of ENSO could be used to develop probabilistic flood risk projections with lead times up to several seasons. Such data could be used by the insurance industry in managing risk portfolios and by multinational companies for assessing the robustness of their supply chains to potential flood-related interruptions. Seasonal forecasts of ENSO influence of peak flows could also allow for improved flood early warning and regulation by dam operators, which could also reduce overall risks

  4. Expanding the definition of hypertension to incorporate global cardiovascular risk.

    Khosla, Nitin; Black, Henry R

    2006-10-01

    Recent epidemiologic analyses have changed the way that hypertension is viewed. Cardiovascular risk has been found to be elevated at levels of blood pressure previously believed to be normal and not imparting additional risk. Furthermore, the approach to hypertension has been shifted from viewing and treating it in isolation to a more comprehensive approach that incorporates a focus on global cardiovascular risk and the risk factors commonly associated with having an elevated blood pressure. However, control rates not only for hypertension but also for associated risk factors, such as hyperlipidemia and diabetes, remain abysmal, providing an even greater challenge to providers of care. To change this alarming trend, physicians must become aggressive in using the available armamentarium of lifestyle modifications and drugs in treating hypertension and other risk factors that increase the burden of atherosclerosis.

  5. Dukovany ASSET mission preparation

    Kouklik, I [NPP Dukovany (Czech Republic)

    1997-12-31

    We are in the final stages of the Dukovany ASSET mission 1996 preparation. I would like to present some of our recent experiences. Maybe they would be helpful to other plants, that host ASSET missions in future.

  6. Dukovany ASSET mission preparation

    Kouklik, I.

    1996-01-01

    We are in the final stages of the Dukovany ASSET mission 1996 preparation. I would like to present some of our recent experiences. Maybe they would be helpful to other plants, that host ASSET missions in future

  7. Youth, Risk, and Equity in a Global World

    Hull, Glynda; Zacher, Jessica; Hibbert, Liesel

    2009-01-01

    This article reviews educational literatures that should be relevant to helping individuals understand and improve the lot and life chances of girls and boys who are at risk in a global world. The authors began this review with a vignette from India, a country whose linguistic and ethnic diversity, whose international reputation for advances in…

  8. Global prevalence and major risk factors of diabetic retinopathy

    J.W.Y. Yau (Joanne W.); S.L. Rogers (Sophie); Y. Kawasaki; E.L. Lamoureux (Ecosse); J.W. Kowalski (Jonathan); T. Bek (Toke); S.-J. Chen (Shih-Jen); J.M. Dekker (Jacqueline); A.E. Fletcher (Astrid E.); J. Grauslund (Jakob); R.C.G. Haffner; U. Hamman (Ute); M.K. Ikram (Kamran); T. Kayama (Takamasa); B.E.K. Klein (Barbara); B.E.K. Klein (Barbara); S. Krishnaiah (Sannapaneni); K. Mayurasakorn (Korapat); J.P. O'Hare (Joseph); T. Orchard; M. Porta; M. Rema (Mohan); M.S. Roy (Monique); T. Sharma (Tarun); S-M. Saw (Seang-Mei); H. Taylor (Hugh); J.M. Tielsch (James); D. Varma (Dhiraj); J.J. Wang (Jie Jin); N. Wang (Ningli); S. West (Sheila); L. Zu (Liang); M. Yasuda (Maya); X. Zhang (Xinzhi); P. Mitchell (Paul); T.Y. Wong (Tien Yin)

    2012-01-01

    textabstractOBJECTIVE - To examine the global prevalence and major risk factors for diabetic retinopathy (DR) and vision-threatening diabetic retinopathy (VTDR) among people with diabetes. RESEARCH DESIGN AND METHODS - A pooled analysis using individual participant data from population-based studies

  9. ASSETS AND LIABILITIES DEPENDENCE: EVIDENCE FROM AN EUROPEAN SAMPLE OF BANKS

    Cociuba Mihail Ioan

    2014-12-01

    Full Text Available In this paper we analyzed the correlation between asset and liabilities using the canonical correlation method, in the case of correlation we analyze the interdependence between two variables, by using canonical correlation analyses we study the interdependence between two groups of variables, X consisting of p variables and Y with q variables from which the best linear combination can be constructed to maximize the correlation between X and Y. While on the financial markets the relation between variables may be linear or non-linear and although canonical correlation analyses only the linear combination of variables it is a more efficient tool than then simple correlation.The asset group which we analyze is composed of different types of loans, derivatives and other earning assets, while in the group of liabilities we have deposits (short and long term, interest bearing liabilities and trading liabilities. We find that the assets and liabilities in the banking sector are directly linked. In the context of the global financial crisis (2007-2008 and the afterwards financial recession this direct correlation between assets and liabilities created a vicious cycle in which the losses from assets had a direct impact on the liabilities which also influenced the levels of assets.The behavior of different variables is important, especially in the financial markets, mainly due to the structure of financial markets. The banking sector and the systemic risk associated with it can affect the financial system and even the whole economy so the study of the correlation of assets and liabilities may give us insights on the causes of the financial crises. We use a panel of fifty-nine European banks for the 2004-2011 period and we analyses the correlation between assets and liabilities. We find that there exists a direct and strong connection between different classes of assets held by banks and the structure of liabilities. The impact of the economic crisis on

  10. "Asset Ownership Across Generations"

    Ngina S. Chiteji; Frank P. Stafford

    2000-01-01

    This paper examines cross-generational connections in asset ownership. It begins by presenting a theoretical framework that develops the distinction between the intergenerational transfer of knowledge about financial assets and the direct transfer of dollars from parents to children. Its analysis of data from the Panel Study of Income Dynamics (PSID) reveals intergenerational correlations in asset ownership, and we find evidence to suggest that parental asset ownership or family-based exposur...

  11. Population risk perceptions of global warming in Australia.

    Agho, Kingsley; Stevens, Garry; Taylor, Mel; Barr, Margo; Raphael, Beverley

    2010-11-01

    According to the World Health Organisation (WHO), global warming has the potential to dramatically disrupt some of life's essential requirements for health, water, air and food. Understanding how Australians perceive the risk of global warming is essential for climate change policy and planning. The aim of this study was to determine the prevalence of, and socio-demographic factors associated with, high levels of perceived likelihood that global warming would worsen, concern for self and family and reported behaviour changes. A module of questions on global warming was incorporated into the New South Wales Population Health Survey in the second quarter of 2007. This Computer Assisted Telephone Interview (CATI) was completed by a representative sample of 2004 adults. The weighted sample was comparable to the Australian population. Bivariate and multivariate statistical analyses were conducted to examine the socio-demographic and general health factors. Overall 62.1% perceived that global warming was likely to worsen; 56.3% were very or extremely concerned that they or their family would be directly affected by global warming; and 77.6% stated that they had made some level of change to the way they lived their lives, because of the possibility of global warming. After controlling for confounding factors, multivariate analyses revealed that those with high levels of psychological distress were 2.17 (Adjusted Odds Ratio (AOR)=2.17; CI: 1.16-4.03; P=0.015) times more likely to be concerned about global warming than those with low psychological distress levels. Those with a University degree or equivalent and those who lived in urban areas were significantly more likely to think that global warming would worsen compared to those without a University degree or equivalent and those who lived in the rural areas. Females were significantly (AOR=1.69; CI: 1.23-2.33; P=0.001) more likely to report they had made changes to the way they lived their lives due to the risk of

  12. Assessing Asset Pricing Anomalies

    W.A. de Groot (Wilma)

    2017-01-01

    markdownabstractOne of the most important challenges in the field of asset pricing is to understand anomalies: empirical patterns in asset returns that cannot be explained by standard asset pricing models. Currently, there is no consensus in the academic literature on the underlying causes of

  13. Capital Structure and Assets

    Flor, Christian Riis

    2008-01-01

    This paper analyzes a firm's capital structure choice when assets have outside value. Valuable assets implicitly provide a collateral and increase tax shield exploitation. The key feature in this paper is asset value uncertainty, implying that it is unknown ex ante whether the equity holders ex p...

  14. Hydroclimatic risks and uncertainty in the global power sector

    Gidden, Matthew; Byers, Edward; Greve, Peter; Kahil, Taher; Parkinson, Simon; Raptis, Catherine; Rogelj, Joeri; Satoh, Yusuke; van Vliet, Michelle; Wada, Yoshide; Krey, Volker; Langan, Simon; Riahi, Keywan

    2017-04-01

    Approximately 80% of the world's electricity supply depends on reliable water resources. Thermoelectric and hydropower plants have been impacted by low flows and floods in recent years, notably in the US, Brazil, France, and China, amongst other countries. The dependence on reliable flows imputes a large vulnerability to the electricity supply system due to hydrological variability and the impacts of climate change. Using an updated dataset of global electricity capacity with global climate and hydrological data from the ISI-MIP project, we present an overview analysis of power sector vulnerability to hydroclimatic risks, including low river flows and peak flows. We show how electricity generation in individual countries and transboundary river basins can be impacted, helping decision-makers identify key at-risk geographical regions. Furthermore, our use of a multi-model ensemble of climate and hydrological models allows us to quantify the uncertainty of projected impacts, such that basin-level risks and uncertainty can be compared.

  15. Multilevel risk factors and developmental assets for internalizing symptoms and self-esteem in disadvantaged adolescents: modeling longitudinal trajectories from the Rural Adaptation Project.

    Smokowski, Paul R; Guo, Shenyang; Rose, Roderick; Evans, Caroline B R; Cotter, Katie L; Bacallao, Martica

    2014-11-01

    The current study filled significant gaps in our knowledge of developmental psychopathology by examining the influence of multilevel risk factors and developmental assets on longitudinal trajectories of internalizing symptoms and self-esteem in an exceptionally culturally diverse sample of rural adolescents. Integrating ecological and social capital theories, we explored if positive microsystem transactions are associated with self-esteem while negative microsystem transactions increase the chances of internalizing problems. Data came from the Rural Adaptation Project, a 5-year longitudinal panel study of more than 4,000 middle school students from 28 public schools in two rural, disadvantaged counties in North Carolina. Three-level hierarchical linear modeling models were estimated to predict internalizing symptoms (e.g., depression, anxiety) and self-esteem. Relative to other students, risk for internalizing problems and low self-esteem was elevated for aggressive adolescents, students who were hassled or bullied at school, and those who were rejected by peers or in conflict with their parents. Internalizing problems were also more common among adolescents from socioeconomically disadvantaged families and neighborhoods, among those in schools with more suspensions, in students who reported being pressured by peers, and in youth who required more teacher support. It is likely that these experiences left adolescents disengaged from developing social capital from ecological microsystems (e.g., family, school, peers). On the positive side, support from parents and friends and optimism about the future were key assets associated with lower internalizing symptoms and higher self-esteem. Self-esteem was also positively related to religious orientation, school satisfaction, and future optimism. These variables show active engagement with ecological microsystems. The implications and limitations were discussed.

  16. A study on the effects of quarterly financial reports on systematic risk and return on assets: A case study of Tehran Stock Exchange

    Roozbeh Hedayat Mazhari

    2013-06-01

    Full Text Available Financial statements are considered as primary sources of information for most investors to make investment decisions. A crystal clear and comprehensive annual report helps many interested parties about the performance of any business unit. However, many rules and regulations ask management teams of organizations to provide quarterly financial results. In this paper, we perform an empirical investigation to study the effects of quarterly financial reports on three ratios including systematic risk, return on assets and firm size. The proposed study gathers the necessary data from 72 firms listed on Tehran Stock Exchange over the period of 2000-2006. The study determined the performances of these 72 firms before and after the releases of three quarterly reports and using Freedman test determined whether there were any meaningful differences between two groups of data or not. The results of Freedman test indicate that there were not any meaningful differences between stock performance and systematic risk before and after quarterly results. The survey also examines the relationship between systematic risk and size of firms using Pearson correlation test and the results indicate there were some meaningful differences size and systematic risk.

  17. The Global Earthquake Model and Disaster Risk Reduction

    Smolka, A. J.

    2015-12-01

    Advanced, reliable and transparent tools and data to assess earthquake risk are inaccessible to most, especially in less developed regions of the world while few, if any, globally accepted standards currently allow a meaningful comparison of risk between places. The Global Earthquake Model (GEM) is a collaborative effort that aims to provide models, datasets and state-of-the-art tools for transparent assessment of earthquake hazard and risk. As part of this goal, GEM and its global network of collaborators have developed the OpenQuake engine (an open-source software for hazard and risk calculations), the OpenQuake platform (a web-based portal making GEM's resources and datasets freely available to all potential users), and a suite of tools to support modelers and other experts in the development of hazard, exposure and vulnerability models. These resources are being used extensively across the world in hazard and risk assessment, from individual practitioners to local and national institutions, and in regional projects to inform disaster risk reduction. Practical examples for how GEM is bridging the gap between science and disaster risk reduction are: - Several countries including Switzerland, Turkey, Italy, Ecuador, Papua-New Guinea and Taiwan (with more to follow) are computing national seismic hazard using the OpenQuake-engine. In some cases these results are used for the definition of actions in building codes. - Technical support, tools and data for the development of hazard, exposure, vulnerability and risk models for regional projects in South America and Sub-Saharan Africa. - Going beyond physical risk, GEM's scorecard approach evaluates local resilience by bringing together neighborhood/community leaders and the risk reduction community as a basis for designing risk reduction programs at various levels of geography. Actual case studies are Lalitpur in the Kathmandu Valley in Nepal and Quito/Ecuador. In agreement with GEM's collaborative approach, all

  18. Global risk of big earthquakes has not recently increased.

    Shearer, Peter M; Stark, Philip B

    2012-01-17

    The recent elevated rate of large earthquakes has fueled concern that the underlying global rate of earthquake activity has increased, which would have important implications for assessments of seismic hazard and our understanding of how faults interact. We examine the timing of large (magnitude M≥7) earthquakes from 1900 to the present, after removing local clustering related to aftershocks. The global rate of M≥8 earthquakes has been at a record high roughly since 2004, but rates have been almost as high before, and the rate of smaller earthquakes is close to its historical average. Some features of the global catalog are improbable in retrospect, but so are some features of most random sequences--if the features are selected after looking at the data. For a variety of magnitude cutoffs and three statistical tests, the global catalog, with local clusters removed, is not distinguishable from a homogeneous Poisson process. Moreover, no plausible physical mechanism predicts real changes in the underlying global rate of large events. Together these facts suggest that the global risk of large earthquakes is no higher today than it has been in the past.

  19. The model of asset management of commercial banks

    Shaymardanov, Shakhzod; Nuriddinov, Sadriddin; Mamadaliev, Donierbek; Murodkhonov, Mukhammad

    2018-01-01

    The main objective of the commercial bank's policy in the sphere of asset and liability management is to maintain the optimal structure of assets and liabilities, ensure the compliance of amounts, terms and currency of attracting and allocating resources. The objectives and principles of asset and liability management are based on the bank's strategy and the fundamental principles of the risk management policy.

  20. Effects of Diversification of Assets on Mean and Variance | Jayeola ...

    Diversification is a means of minimizing risk and maximizing returns by investing in a variety of assets of the portfolio. This paper is written to determine the effects of diversification of three types of Assets; uncorrelated, perfectly correlated and perfectly negatively correlated assets on mean and variance. To go about this, ...

  1. Aqueduct: an interactive tool to empower global water risk assessment

    Reig, Paul; Gassert, Francis

    2013-04-01

    The Aqueduct Water Risk Atlas (Aqueduct) is a publicly available, global database and interactive tool that maps indicators of water related risks for decision makers worldwide. Aqueduct makes use of the latest geo-statistical modeling techniques to compute a composite index and translate the most recently available hydrological data into practical information on water related risks for companies, investors, and governments alike. Twelve global indicators are grouped into a Water Risk Framework designed in response to the growing concerns from private sector actors around water scarcity, water quality, climate change, and increasing demand for freshwater. The Aqueduct framework includes indicators of water stress, variability in supply, storage, flood, drought, groundwater, water quality and social conflict, addressing both spatial and temporal variation in water hazards. It organizes indicators into three categories of risk that bring together multiple dimensions of water related risk into comprehensive aggregated scores, which allow for dynamic weighting to capture users' unique exposure to water hazards. All information is compiled into an online, open access platform, from which decision-makers can view indicators, scores, and maps, conduct global risk assessments, and export data and shape files for further analysis. Companies can use this tool to evaluate their exposure to water risks across operations and supply chains, investors to assess water-related risks in their portfolio, and public-sector actors to better understand water security. Additionally, the open nature of the data and maps allow other organizations to build off of this effort with new research, for example in the areas of water-energy or water-food relationships. This presentation will showcase the Aqueduct Water Risk Atlas online tool and the features and functionalities it offers, as well as explain how it can be used for both private and public sector applications. The session will

  2. Global building inventory for earthquake loss estimation and risk management

    Jaiswal, Kishor; Wald, David; Porter, Keith

    2010-01-01

    We develop a global database of building inventories using taxonomy of global building types for use in near-real-time post-earthquake loss estimation and pre-earthquake risk analysis, for the U.S. Geological Survey’s Prompt Assessment of Global Earthquakes for Response (PAGER) program. The database is available for public use, subject to peer review, scrutiny, and open enhancement. On a country-by-country level, it contains estimates of the distribution of building types categorized by material, lateral force resisting system, and occupancy type (residential or nonresidential, urban or rural). The database draws on and harmonizes numerous sources: (1) UN statistics, (2) UN Habitat’s demographic and health survey (DHS) database, (3) national housing censuses, (4) the World Housing Encyclopedia and (5) other literature.

  3. Swiss Re Global Flood Hazard Zones: Know your flood risk

    Vinukollu, R. K.; Castaldi, A.; Mehlhorn, J.

    2012-12-01

    Floods, among all natural disasters, have a great damage potential. On a global basis, there is strong evidence of increase in the number of people affected and economic losses due to floods. For example, global insured flood losses have increased by 12% every year since 1970 and this is expected to further increase with growing exposure in the high risk areas close to rivers and coastlines. Recently, the insurance industry has been surprised by the large extent of losses, because most countries lack reliable hazard information. One example has been the 2011 Thailand floods where millions of people were affected and the total economic losses were 30 billion USD. In order to assess the flood risk across different regions and countries, the flood team at Swiss Re based on a Geomorphologic Regression approach, developed in house and patented, produced global maps of flood zones. Input data for the study was obtained from NASA's Shuttle Radar Topographic Mission (SRTM) elevation data, Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) Global Digital Elevation Model (GDEM) and HydroSHEDS. The underlying assumptions of the approach are that naturally flowing rivers shape their channel and flood plain according to basin inherent forces and characteristics and that the flood water extent strongly depends on the shape of the flood plain. On the basis of the catchment characteristics, the model finally calculates the probability of a location to be flooded or not for a defined return period, which in the current study was set to 100 years. The data is produced at a 90-m resolution for latitudes 60S to 60N. This global product is now used in the insurance industry to inspect, inform and/or insure the flood risk across the world.

  4. Financial Super-Markets: Size Matters for Asset Trade

    Philippe Martin; Helene Rey

    2001-01-01

    This paper presents a new theoretical framework to analyze=20 financial markets in an international context. We build a two-country=20 macroeconomic model in which agents are risk averse, assets are imperfect=20 substitutes, the number of financial assets is endogenous, and cross-border= =20 asset trade entails transaction costs. We show that demand effects have=20 important implications for the link between market size, asset prices and=20 financial market development. These effects are cons...

  5. Financial Super-Markets: Size Matters for Asset Trade.

    Philippe Martin and Hélène Rey.

    2000-01-01

    This paper presents a new theoretical framework to analyze financial markets in an international context. We build a two-country macroeconomic model in which agents are risk averse, assets are imperfect substitutes, the number of financial assets is endogenous, and cross-border asset trade entails transaction costs. We show that demand effects have important implications for the link between market size, asset prices and financial market development. These effects are consistent with the exis...

  6. Investors’ Risk Appetite and Global Financial Market Conditions

    Brenda Gonzalez-Hermosillo

    2008-01-01

    A structural vector autoregression model is developed to analyze the dynamics of bond spreads among a sample of mature and developing countries during periods of financial stress in the last decade. The model identifies and quantifies the contribution on bond spreads from global market conditions (including funding liquidity, market liquidity, as well as credit and volatility risks), contagion effects, and idiosyncratic factors. While idiosyncratic factors explain a large amount of the change...

  7. An experimental system for flood risk forecasting at global scale

    Alfieri, L.; Dottori, F.; Kalas, M.; Lorini, V.; Bianchi, A.; Hirpa, F. A.; Feyen, L.; Salamon, P.

    2016-12-01

    Global flood forecasting and monitoring systems are nowadays a reality and are being applied by an increasing range of users and practitioners in disaster risk management. Furthermore, there is an increasing demand from users to integrate flood early warning systems with risk based forecasts, combining streamflow estimations with expected inundated areas and flood impacts. To this end, we have developed an experimental procedure for near-real time flood mapping and impact assessment based on the daily forecasts issued by the Global Flood Awareness System (GloFAS). The methodology translates GloFAS streamflow forecasts into event-based flood hazard maps based on the predicted flow magnitude and the forecast lead time and a database of flood hazard maps with global coverage. Flood hazard maps are then combined with exposure and vulnerability information to derive flood risk. Impacts of the forecasted flood events are evaluated in terms of flood prone areas, potential economic damage, and affected population, infrastructures and cities. To further increase the reliability of the proposed methodology we integrated model-based estimations with an innovative methodology for social media monitoring, which allows for real-time verification of impact forecasts. The preliminary tests provided good results and showed the potential of the developed real-time operational procedure in helping emergency response and management. In particular, the link with social media is crucial for improving the accuracy of impact predictions.

  8. Geography of current and future global mammal extinction risk.

    Ana D Davidson

    variation in the pressures faced by populations within the ranges of individual species. The added impacts from climate change may increase the susceptibility of at-risk species to extinction and expand the regions where mammals are most vulnerable globally.

  9. Geography of current and future global mammal extinction risk.

    Davidson, Ana D; Shoemaker, Kevin T; Weinstein, Ben; Costa, Gabriel C; Brooks, Thomas M; Ceballos, Gerardo; Radeloff, Volker C; Rondinini, Carlo; Graham, Catherine H

    2017-01-01

    pressures faced by populations within the ranges of individual species. The added impacts from climate change may increase the susceptibility of at-risk species to extinction and expand the regions where mammals are most vulnerable globally.

  10. Environmental health risk assessment and management for global climate change

    Carter, P.

    2014-12-01

    This environmental health risk assessment and management approach for atmospheric greenhouse gas (GHG) pollution is based almost entirely on IPCC AR5 (2014) content, but the IPCC does not make recommendations. Large climate model uncertainties may be large environmental health risks. In accordance with environmental health risk management, we use the standard (IPCC-endorsed) formula of risk as the product of magnitude times probability, with an extremely high standard of precaution. Atmospheric GHG pollution, causing global warming, climate change and ocean acidification, is increasing as fast as ever. Time is of the essence to inform and make recommendations to governments and the public. While the 2ºC target is the only formally agreed-upon policy limit, for the most vulnerable nations, a 1.5ºC limit is being considered by the UNFCCC Secretariat. The Climate Action Network International (2014), representing civil society, recommends that the 1.5ºC limit be kept open and that emissions decline from 2015. James Hansen et al (2013) have argued that 1ºC is the danger limit. Taking into account committed global warming, its millennial duration, multiple large sources of amplifying climate feedbacks and multiple adverse impacts of global warming and climate change on crops, and population health impacts, all the IPCC AR5 scenarios carry extreme environmental health risks to large human populations and to the future of humanity as a whole. Our risk consideration finds that 2ºC carries high risks of many catastrophic impacts, that 1.5ºC carries high risks of many disastrous impacts, and that 1ºC is the danger limit. IPCC AR4 (2007) showed that emissions must be reversed by 2015 for a 2ºC warming limit. For the IPCC AR5 only the best-case scenario RCP2.6, is projected to stay under 2ºC by 2100 but the upper range is just above 2ºC. It calls for emissions to decline by 2020. We recommend that for catastrophic environmental health risk aversion, emissions decline

  11. Landslide risk reduction strategies: an inventory for the Global South

    Maes, Jan; Kervyn, Matthieu; Vranken, Liesbet; Dewitte, Olivier; Vanmaercke, Matthias; Mertens, Kewan; Jacobs, Liesbet; Poesen, Jean

    2015-04-01

    Landslides constitute a serious problem globally. Moreover, landslide impact remains underestimated especially in the Global South. It is precisely there where the largest impact is experienced. An overview of measures taken to reduce risk of landslides in the Global South is however still lacking. Because in many countries of the Global South disaster risk reduction (DRR) is at an emerging stage, it is crucial to monitor the ongoing efforts (e.g. discussions on the Post-2015 Framework for DRR). The first objective of this study is to make an inventory of techniques and strategies that are applied to reduce risk from landslides in tropical countries. The second objective is to investigate what are the main bottlenecks for implementation of DRR strategies. In order to achieve these objectives, a review of both scientific and grey literature was conducted, supplemented with expert knowledge. The compilation of recommended and implemented DRR measures from landslide-prone tropical countries is based on an adapted classification proposed by the SafeLand project. According to Vaciago (2013), landslide risk can be reduced by either reducing the hazard, the vulnerability, the number or value of elements at risk or by sharing the residual risk. In addition, these measures can be combined with education and/or awareness raising and are influenced by governance structures and cultural beliefs. Global landslide datasets have been used to identify landslide-prone countries, augmented with region-specific datasets. Countries located in the tropics were selected in order to include landslide-prone countries with a different Human Development Index (HDI) but with a similar climate. Preliminary results support the statement made by Anderson (2013) that although the importance of shifting from post-disaster emergency actions to pre-disaster mitigation is acknowledged, in practice this paradigm shift seems rather limited. It is expected that this is especially the case in countries

  12. IMPLEMENTATION OF ASSET MANAGEMENT IN ROAD ADMINISTRATION OF SLOVAK REPUBLIC

    Ľubomír Pepucha

    2014-03-01

    Full Text Available The article presents basic principles and solutions for the application of Asset Management as part of road administration in Slovakia. It deals with application of Assets management methods and best practices of global trends in road maintenance, repair and rehabilitation strategies. An effective public Asset Management combines principles and strategies of asset management used in private sector with sound practices and methods proven to be applicable by public road administrator and his digital information systems. The under-funding of road management leads to development of tools and methods, which enable us to define criteria for establishing priorities for investments into road assets.

  13. Visualization of the chains of risks under global climate change

    Yokohata, T.; Nishina, K.; Takahashi, K.; Kiguchi, M.; Iseri, Y.; Sueyoshi, T.; Yoshimori, M.; Iwase, K.; Yamamoto, A.; Shigemitsu, M.; Honda, Y.; Hanasaki, N.; Masaki, Y.; Ito, A.; Iizumi, T.; Sakurai, G.; Okada, M.; Emori, S.; Oki, T.

    2014-12-01

    Anthropogenic climate change possibly causes various impacts on human society and ecosystem. Here, we call possible damages or benefits caused by the future climate change as "climate risks". Many climate risks are closely interconnected with each other by direct cause-effect relationship. In this study, the major climate risks are comprehensively summarized based on the survey of studies in the literature using IPCC AR5 etc, and their cause-effect relationship are visualized by a "network diagram". This research is conducted by the collaboration between the experts of various fields, such as water, energy, agriculture, health, society, and eco-system under the project called ICA-RUS (Integrated Climate Assessment - Risks, Uncertainties and Society). First, the climate risks are classified into 9 categories (water, energy, food, health, disaster, industry, society, ecosystem, and tipping elements). Second, researchers of these fields in our project survey the research articles, and pick up items of climate risks, and possible cause-effect relationship between the risk items. A long list of the climate risks is summarized into ~130, and that of possible cause-effect relationship between the risk items is summarized into ~300, because the network diagram would be illegible if the number of the risk items and cause-effect relationship is too large. Here, we only consider the risks that could occur if climate mitigation policies are not conducted. Finally, the chain of climate risks is visualized by creating a "network diagram" based on a network graph theory (Fruchtman & Reingold algorithm). Through the analysis of network diagram, we find that climate risks at various sectors are closely related. For example, the decrease in the precipitation under the global climate change possibly causes the decrease in river runoff and the decrease in soil moisture, which causes the changes in crop production. The changes in crop production can have an impact on society by

  14. Valuation of intangible assets

    Karlíková, Jitka

    2010-01-01

    The thesis is focused on the valuation of intangible assets, particularly trademarks and copyrights. In the beginning it deals with the problems of valuation of intangible assets. The main part of the thesis provides an overview of methods for valuation of intangible assets. This part is followed by a practical section that illustrates the procedure of valuation of trademarks and copyrights on a concrete example.

  15. [ASSET experience in China

    Zhang Shanming

    1996-01-01

    The ASSET philosophy for prevention of nuclear safety incident is being implemented in our nuclear power plant as the other international nuclear power plants, and the in-depth analysis of operational events in order to find out and eliminate the root causes is considered as the prioritized work in the plant safety management. Some observations are discussed which were made during the implementation of ASSET philosophy and the ASSET approach in our nuclear power plant

  16. Asset Opacity and Liquidity

    Stenzel, A.; Wagner, W.B.

    2013-01-01

    Abstract: We consider a model of private information acquisition in which the cost of information depends on an asset's opacity. The model generates a hump-shaped relationship between opacity and the equilibrium amount of private information. In particular, the incentives to acquire information are largest for assets of intermediate opacity; such assets hence display low liquidity in the secondary market due to adverse selection. We also show that costly information acquisition generates ince...

  17. [ASSET experience in China

    Shanming, Zhang [Dayabay NPP (China)

    1997-12-31

    The ASSET philosophy for prevention of nuclear safety incident is being implemented in our nuclear power plant as the other international nuclear power plants, and the in-depth analysis of operational events in order to find out and eliminate the root causes is considered as the prioritized work in the plant safety management. Some observations are discussed which were made during the implementation of ASSET philosophy and the ASSET approach in our nuclear power plant.

  18. Japanese views on ASSET

    Hirano, Masashi [Department of Reactor Safety Research, Japan Atomic Energy Research Inst., Tokai, Ibaraki (Japan)

    1997-12-31

    In general, the ASSET has had a positive effect on enhancement of operating experience feedback. The ASSET has played an important role to supply information to the IAEA Extra Budgetary Program. However, this role has come to an end; since the needs for safety upgrading have become identified and prioritized. ASSET missions in future: Linkage among various safety missions should be sought in order to avoid duplication and to enhance effective usage of a limited budget and human resources.

  19. Global Amphibian Extinction Risk Assessment for the Panzootic Chytrid Fungus

    Matthew C. Fisher

    2009-09-01

    Full Text Available Species are being lost at increasing rates due to anthropogenic effects, leading to the recognition that we are witnessing the onset of a sixth mass extinction. Emerging infectious disease has been shown to increase species loss and any attempts to reduce extinction rates need to squarely confront this challenge. Here, we develop a procedure for identifying amphibian species that are most at risk from the effects of chytridiomycosis by combining spatial analyses of key host life-history variables with the pathogen's predicted distribution. We apply our rule set to the known global diversity of amphibians in order to prioritize pecies that are most at risk of loss from disease emergence. This risk assessment shows where limited conservation funds are best deployed in order to prevent further loss of species by enabling ex situ amphibian salvage operations and focusing any potential disease mitigation projects.

  20. Global health risks and cosmopolitisation: from emergence to interference.

    Figuié, Muriel

    2013-02-01

    According to Beck's 'World at Risk' theory, global risks push nations towards a cosmopolitisation of their health policy and open opportunities for a democratic turn. This article provides an empirical analysis of Beck's theory, based on the experience of Vietnamese authorities from 2003 to 2007 in managing the emerging avian flu virus. It shows how Vietnam's framing of avian flu has shifted, under the pressure from international organisations and the US administration, from an epizootic and zoonotic risk (or a classic risk) to a pandemic threat (or a late modern risk). Vietnam's response was part of its overall strategy to join the World Trade Organization and it was limited by Vietnam's defence of its sovereignty. This strategy has been successful for Vietnam but has limited the possibility of cosmopolitan and democratic transformations. The case study highlights the constructed dimension of risks of late modernity and their possible instrumentalisation: it minimises the role of a community of fear relative to a community of trade. © 2013 The Author. Sociology of Health & Illness © 2013 Foundation for the Sociology of Health & Illness/Blackwell Publishing Ltd.

  1. Global ocean conveyor lowers extinction risk in the deep sea

    Henry, Lea-Anne; Frank, Norbert; Hebbeln, Dierk; Wienberg, Claudia; Robinson, Laura; van de Flierdt, Tina; Dahl, Mikael; Douarin, Mélanie; Morrison, Cheryl L.; López Correa, Matthias; Rogers, Alex D.; Ruckelshausen, Mario; Roberts, J. Murray

    2014-06-01

    General paradigms of species extinction risk are urgently needed as global habitat loss and rapid climate change threaten Earth with what could be its sixth mass extinction. Using the stony coral Lophelia pertusa as a model organism with the potential for wide larval dispersal, we investigated how the global ocean conveyor drove an unprecedented post-glacial range expansion in Earth's largest biome, the deep sea. We compiled a unique ocean-scale dataset of published radiocarbon and uranium-series dates of fossil corals, the sedimentary protactinium-thorium record of Atlantic meridional overturning circulation (AMOC) strength, authigenic neodymium and lead isotopic ratios of circulation pathways, and coral biogeography, and integrated new Bayesian estimates of historic gene flow. Our compilation shows how the export of Southern Ocean and Mediterranean waters after the Younger Dryas 11.6 kyr ago simultaneously triggered two dispersal events in the western and eastern Atlantic respectively. Each pathway injected larvae from refugia into ocean currents powered by a re-invigorated AMOC that led to the fastest postglacial range expansion ever recorded, covering 7500 km in under 400 years. In addition to its role in modulating global climate, our study illuminates how the ocean conveyor creates broad geographic ranges that lower extinction risk in the deep sea.

  2. GLObal RIsk MANagement system for plant operations GLORIMAN

    Silverman, Eugene B.

    2004-01-01

    Considerable effort has been expended by nuclear power plants in the preparation of their Independent Plant Evaluation (IPE) programs. The result of these projects is the generation of very useful information concerning plant operations, states, availability and risk. The potential application of this information is often unrealized due to the unwieldy form of the data as reported in the IPE. Plant personnel would benefit greatly from quick access to risk information as a means of supporting day-to-day decisions, but the information exists only in a difficult to understand and inaccessible form. There is a need to translate the costs invested in Probabilistic Risk Assessment (PRA) projects into a useable tool for plant personnel. This paper describes a software tool developed by ARD Corporation to be used by plants to assist in determining the operational risks and benefits associated with modifying the plant state during normal and off-normal operations for performing maintenance. This tool integrates a relational database with an easy-to-use graphical user interface and several unique software features. The result is a responsive, easy-to-understand tool that integrates an organization's PRA/IPE into the operational and maintenance needs of the station. The Global Risk Management System is designed to allow the user to evaluate the risk associated with current and proposed plant states. The impact of changes in plant configuration, operational modes and equipment availability are assessed from a risk management perspective, but displayed in an easy-to-understand form for personnel not familiar with risk methodology. Additionally, pipe and instrumentation drawings can be retrieved by the user and displayed as a reference tool. (author)

  3. Global risk of radioactive fallout after major nuclear reactor accidents

    Lelieveld, J.; Kunkel, D.; Lawrence, M.G.

    2012-01-01

    Major reactor accidents of nuclear power plants are rare, yet the consequences are catastrophic. But what is meant by ''rare''? And what can be learned from the Chernobyl and Fukushima incidents? Here we assess the cumulative, global risk of exposure to radioactivity due to atmospheric dispersion of gases and particles following severe nuclear accidents (the most severe ones on the International Nuclear Event Scale, INES 7), using particulate "1"3"7Cs and gaseous "1"3"1I as proxies for the fallout. Our results indicate that previously the occurrence of INES 7 major accidents and the risks of radioactive contamination have been underestimated. Using a global model of the atmosphere we compute that on average, in the event of a major reactor accident of any nuclear power plant worldwide, more than 90% of emitted "1"3"7Cs would be transported beyond 50 km and about 50% beyond 1000 km distance before being deposited. This corroborates that such accidents have large-scale and trans-boundary impacts. Although the emission strengths and atmospheric removal processes of "1"3"7Cs and "1"3"1I are quite different, the radioactive contamination patterns over land and the human exposure due to deposition are computed to be similar. High human exposure risks occur around reactors in densely populated regions, notably in West Europe and South Asia, where a major reactor accident can subject around 30 million people to radioactive contamination. The recent decision by Germany to phase out its nuclear reactors will reduce the national risk, though a large risk will still remain from the reactors in neighbouring countries.

  4. Asymmetric impacts of global risk appetite on the risk premium for an emerging market

    Kanlı, İbrahim Burak

    2008-05-01

    This paper analyzes the impact of global risk appetite on the risk premium utilizing high-frequency data. Taking the Turkish economy as our laboratory, we find that the risk premium volatility responds only to a worsening in the risk appetite for the Turkish economy, which is a result that we do not observe for the other emerging markets. Then, we investigate the role of current account dynamics on this asymmetric effect, by focusing also on an economy with similar current account performance. The empirical results find supporting evidence for the role of current account dynamics on the estimated asymmetry.

  5. Risk-analysis of global climate tipping points

    Frieler, Katja; Meinshausen, Malte; Braun, N [Potsdam Institute for Climate Impact Research e.V., Potsdam (Germany). PRIMAP Research Group; and others

    2012-09-15

    There are many elements of the Earth system that are expected to change gradually with increasing global warming. Changes might prove to be reversible after global warming returns to lower levels. But there are others that have the potential of showing a threshold behavior. This means that these changes would imply a transition between qualitatively disparate states which can be triggered by only small shifts in background climate (2). These changes are often expected not to be reversible by returning to the current level of warming. The reason for that is, that many of them are characterized by self-amplifying processes that could lead to a new internally stable state which is qualitatively different from before. There are different elements of the climate system that are already identified as potential tipping elements. This group contains the mass losses of the Greenland and the West-Antarctic Ice Sheet, the decline of the Arctic summer sea ice, different monsoon systems, the degradation of coral reefs, the dieback of the Amazon rainforest, the thawing of the permafrost regions as well as the release of methane hydrates (3). Crucially, these tipping elements have regional to global scale effects on human society, biodiversity and/or ecosystem services. Several examples may have a discernable effect on global climate through a large-scale positive feedback. This means they would further amplify the human induced climate change. These tipping elements pose risks comparable to risks found in other fields of human activity: high-impact events that have at least a few percent chance to occur classify as high-risk events. In many of these examples adaptation options are limited and prevention of occurrence may be a more viable strategy. Therefore, a better understanding of the processes driving tipping points is essential. There might be other tipping elements even more critical but not yet identified. These may also lie within our socio-economic systems that are

  6. Alocação de ativos no mercado acionário brasileiro segundo o conceito de downside risk Asset allocation in the Brazilian stock market according to the downside risk strategy

    Fabio Wendling Muniz de Andrade

    2006-06-01

    Full Text Available O artigo compara a abordagem tradicional de média-variância na determinação de portfólios eficientes com a abordagem de risco assimétrico (downside risk, que substitui a variância pela semivariância ou outro LPM (Lower Partial Moment. Um estudo empírico é realizado para obter as fronteiras eficientes usando-se ambas as abordagens, e estratégias de alocação de ativos são simuladas e comparadas. Resultados demonstram que, se os investidores possuem preferências assimétricas em relação ao risco, a abordagem de média-semivariância é superior em termos de eficiência. Adicionalmente, verifica-se que a minimização do risco assimétrico fornece efetivamente maior proteção contra perdas quando comparada com a minimização da variância na alocação de ativos.The traditional mean-variance approach for building efficient portfolios was compared to the downside risk approach that substitutes variance of returns by semi-variance or another lower partial momentum of returns. Empirical investigation searched for efficient frontiers using both approaches and strategies for asset allocation which were simulated for comparison. The downside risk approach was shown to be superior in terms of efficiency when investors had asymmetric preferences related to risk. Further the strategy of minimizing downside risk effectively provided greater protection against losses when compared to the strategy of variance minimization, for asset allocation.

  7. Preparing for asset retirement.

    Luecke, Randall W; Reinstein, Alan

    2003-04-01

    Statement of Financial Accounting Standards (SFAS) No. 143 requires organizations to recognize a liability for an asset retirement obligation when it is incurred--even if that occurs far in advance of the asset's planned retirement. For example, organizations must recognize future costs associated with medical equipment disposal that carries hazardous material legal obligations.

  8. Essays on asset pricing

    Nazliben, Kamil

    2015-01-01

    The dissertation consists of three chapters that represent separate papers in the area of asset pricing. The first chapter studies investors optimal asset allocation problem in which mean reversion in stock prices is captured by explicitly modeling transitory and permanent shocks. The second chapter

  9. Local to global: a collaborative approach to volcanic risk assessment

    Calder, Eliza; Loughlin, Sue; Barsotti, Sara; Bonadonna, Costanza; Jenkins, Susanna

    2017-04-01

    Volcanic risk assessments at all scales present challenges related to the multitude of volcanic hazards, data gaps (hazards and vulnerability in particular), model representation and resources. Volcanic hazards include lahars, pyroclastic density currents, lava flows, tephra fall, ballistics, gas dispersal and also earthquakes, debris avalanches, tsunamis and more ... they can occur in different combinations and interact in different ways throughout the unrest, eruption and post-eruption period. Volcanoes and volcanic hazards also interact with other natural hazards (e.g. intense rainfall). Currently many hazards assessments consider the hazards from a single volcano but at national to regional scales the potential impacts of multiple volcanoes over time become important. The hazards that have the greatest tendency to affect large areas up to global scale are those transported in the atmosphere: volcanic particles and gases. Volcanic ash dispersal has the greatest potential to directly or indirectly affect the largest number of people worldwide, it is currently the only volcanic hazard for which a global assessment exists. The quantitative framework used (primarily at a regional scale) considers the hazard at a given location from any volcano. Flow hazards such as lahars and floods can have devastating impacts tens of kilometres from a source volcano and lahars can be devastating decades after an eruption has ended. Quantitative assessment of impacts is increasingly undertaken after eruptions to identify thresholds for damage and reduced functionality. Some hazards such as lava flows could be considered binary (totally destructive) but others (e.g. ash fall) have varying degrees of impact. Such assessments are needed to enhance available impact and vulnerability data. Currently, most studies focus on physical vulnerability but there is a growing emphasis on social vulnerability showing that it is highly variable and dynamic with pre-eruption socio

  10. Global recession and microfinance risk governance in developing countries

    Roberto Moro Visconti

    2011-09-01

    Full Text Available Global recession, started in 2008, is still proving an unresolved perfect storm and the financial crisis has affected also the real economy, creating widespread social unrest. Microfinance institutions (MFIs in developing countries seem however less affected by the worldwide turmoil, due to their segmentation and resilience to external shocks. Recession has a big impact on governance mechanisms, altering the equilibriums among different stakeholders and increasing the risk of investment returns; any governance improvement is highly welcome and recommended. No governance, no money for growth or bare survival. In the confused phase we are living in, at the moment there are not evident winners, but the underbanked poorest, unless properly supported, once again risk being the ultimate losers.

  11. THE BUSINESS MODEL AND FINANCIAL ASSETS MEASUREMENT

    NICULA Ileana

    2012-01-01

    The paper work analyses some aspects regarding the implementation of IFRS 9, the relationship between the business model approach and the assets classification and measurement. It does not discuss the cash flows characteristics, another important aspect of assets classification, or the reclassifications. The business model is related to some characteristics of the banks (opaqueness, leverage ratio, compliance to capital, sound liquidity requirements and risk management) and to Special Purpose...

  12. Asset liability management using stochastic programming

    Pirbhai, M; Mitra, G; Kyriakis, T

    2003-01-01

    This chapter sets out to explain an important financial planning model called asset liability management (ALM); in particular, it discusses why in practice, optimum planning models are used. The ability to build an integrated approach that combines liability models with that of asset allocation decisions has proved to be desirable and more efficient in that it can lead to better ALM decisions. The role of uncertainty and quantification of risk in these planning models is con...

  13. Global risk & global challenges - Space as a game changer for socioeconomic sustainable development

    Lehnert, Christopher; Karlsson, Evelina; Giannopapa, Christina

    2017-11-01

    The world's societies at the beginning of the 21st century are better off than ever before. (Gapminder, 2015) At the same time, the world is also threatened by global challenges where space as a tool has and can play a pivotal role in meeting those challenges. The challenges range from climate change, over mass unemployment, to terrorism or migration - to name but a few. Space activities have started to respond to this changing world, not only by providing a deeper understanding of our universe, but by using space as an additional sphere and sector, through which humankind can increase and secure its wealth - it is thus game changing in the way we sustain humanity's existence. This paper is meant to capture this development. In the first part, an overview is given on the risks that humankind is facing. The second part describes the way that space can be used as a tool to prevent and manage these risks. The overview in the first part is based on the examination of the most recent reports and overall strategies of key International Governmental Organisations and Non-Governmental Organisations that are involved in agenda-setting, policy formulation and implementation. The second part includes an overview on current activities of the European Space Agency (ESA) that play a role in responding to these risks. To better understand ESA's activities that contain humanity's risks, a standard classification for risks management is used, which distinguishes between four components: Identification, Assessment, Management and Communication (Renn, 2005). The analysis reveals how space activities already today play a pivotal role in all four types of risk management. Space activities contribute very tangible to the management of risks through its space mission, but also in a more indirect way, as providing the technical backbone for stable and reliable cooperation in the international governance arena, and serve as crucial economic stimulator. The overall results show that space

  14. Historical development of derivatives’ underlying assets

    Sylvie Riederová

    2011-01-01

    Full Text Available The derivative transactions are able to eliminate the unexpected risk arising from the price volatility of the asset. The need for risk elimination relates to the application of derivatives.This paper is focused on derivatives’ underlying assets themselves. With the plain description, supported by progressive summarization, the authors analysed the relevant theoretical sources, dealt with derivatives, their underlying assets and their development in centuries. Starting in the ancient history, 2000 BC, the first non-standard transaction, very close to today’s understanding of derivatives, becomes to be closed between counterparties. During the time, in different kingdoms and emporiums, derivatives started to play a significant role in daily life, helping to reduce the uncertainty of the future. But the real golden era for derivatives started with the so called ‘New derivative markets’ and computer supported trading. They have extended their form from simple tools to most complex structures, without changing their main purpose hedging and risk – reduction.For the main purpose of this paper it is impossible to split the development of derivatives from the very wide extension of underlying assets. The change of these assets was one of the main drivers in derivatives development. Understanding of the dynamic character of these assets helps to understand the world of derivatives.

  15. Portfolio management fees: assets or profits based compensation?

    Gil-Bazo, Javier

    2001-01-01

    This paper compares assets-based portfolio management fees to profits-based fees. Whilst both forms of compensation can provide appropriate risk incentives, fund managers' limited liability induces more excess risk-taking under a profits-based fee contract. On the other hand, an assets-based fee is more costly to investors. In Spain, where the law explicitly permits both forms of retribution, assets-based fees are observed far more frequently. Under this type of compensation, the paper provid...

  16. General overview of the ASSET activities in Ukraine

    Ruday, C.G.

    1996-01-01

    Brief retrospective summary of the ASSET experience in Ukraine since first mission held in June 1992. Analysis of the positive influence of the ASSET approaches to the general safety culture status. Specific problems of the current situation. Difference in attitude to ASSET missions of plant managers and plant safety experts reveals global safety culture drawbacks on the organizational level. Analysis of the direct and root causes of the situation. Lessons learned. Ideas for corrective measures to be implemented. (author). 7 tabs

  17. General overview of the ASSET activities in Ukraine

    Ruday, C G [Ministry for Environmental Protection and Nuclear Safety of Ukraine, Kiev (Ukraine)

    1997-12-31

    Brief retrospective summary of the ASSET experience in Ukraine since first mission held in June 1992. Analysis of the positive influence of the ASSET approaches to the general safety culture status. Specific problems of the current situation. Difference in attitude to ASSET missions of plant managers and plant safety experts reveals global safety culture drawbacks on the organizational level. Analysis of the direct and root causes of the situation. Lessons learned. Ideas for corrective measures to be implemented. (author). 7 tabs.

  18. A global assessment of closed forests, deforestation and malaria risk

    GUERRA, C. A.; SNOW, R. W.; HAY, S. I.

    2011-01-01

    Global environmental change is expected to affect profoundly the transmission of the parasites that cause human malaria. Amongst the anthropogenic drivers of change, deforestation is arguably the most conspicuous, and its rate is projected to increase in the coming decades. The canonical epidemiological understanding is that deforestation increases malaria risk in Africa and the Americas and diminishes it in South–east Asia. Partial support for this position is provided here, through a systematic review of the published literature on deforestation, malaria and the relevant vector bionomics. By using recently updated boundaries for the spatial limits of malaria and remotely-sensed estimates of tree cover, it has been possible to determine the population at risk of malaria in closed forest, at least for those malaria-endemic countries that lie within the main blocks of tropical forest. Closed forests within areas of malaria risk cover approximately 1.5 million km2 in the Amazon region, 1.4 million km2 in Central Africa, 1.2 million km2 in the Western Pacific, and 0.7 million km2 in South–east Asia. The corresponding human populations at risk of malaria within these forests total 11.7 million, 18.7 million, 35.1 million and 70.1 million, respectively. By coupling these numbers with the country-specific rates of deforestation, it has been possible to rank malaria-endemic countries according to their potential for change in the population at risk of malaria, as the result of deforestation. The on-going research aimed at evaluating these relationships more quantitatively, through the Malaria Atlas Project (MAP), is highlighted. PMID:16630376

  19. IT Asset Management System -

    Department of Transportation — ITAMS provides a web frontend for the managing of all HW Assets lifecycle data purchased by ATO since 2006. In addition it contains much of our Enterprise SW license...

  20. Asset Inventory Database

    US Agency for International Development — AIDM is used to track USAID assets such as furniture, computers, and equipment. Using portable bar code readers, receiving and inventory personnel can capture...

  1. Risks in global natural gas markets: Investment, hedging and trade

    Egging, Ruud; Holz, Franziska

    2016-01-01

    Recent supply security concerns in Europe have revived interest into the natural gas market. We investigate infrastructure investment and trade in an imperfect market structure for various possible risks for both supply and demand. We focus on three possible scenarios in a stochastic global gas market model: (i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; (ii) natural gas intensity of electricity generation in OECD countries that may lead to higher or lower natural gas demand after 2025; and (iii) availability of shale gas around the globe after 2030. We illustrate how the timing of investments is affected by inter-temporal hedging behavior of market agents, such as when LNG capacity provides ex-ante flexibility or an ex-post fallback option if domestic or nearby pipeline supply sources are low. Moreover, we find that investment in LNG capacities is more determined by demand side pull – due to higher needs in electric power generation – than by supply side push, e.g. higher shale gas supplies needing an outlet. We focus on Europe, North America, and China that are the world's most important gas consuming and supplying regions. - Highlights: •We use the stochastic variant of the multi-period Global Gas Model. •We investigate the effects of uncertainty in Russian exports, demand, and shale gas. •We find that LNG is preferred as hedging option in anticipation of uncertain events. •Pipelines may be chosen as recourse decision after uncertain events realized. •China will dominate the global natural gas market regardless the scenario.

  2. Ecological risk assessment in the context of global climate change.

    Landis, Wayne G; Durda, Judi L; Brooks, Marjorie L; Chapman, Peter M; Menzie, Charles A; Stahl, Ralph G; Stauber, Jennifer L

    2013-01-01

    Changes to sources, stressors, habitats, and geographic ranges; toxicological effects; end points; and uncertainty estimation require significant changes in the implementation of ecological risk assessment (ERA). Because of the lack of analog systems and circumstances in historically studied sites, there is a likelihood of type III error. As a first step, the authors propose a decision key to aid managers and risk assessors in determining when and to what extent climate change should be incorporated. Next, when global climate change is an important factor, the authors recommend seven critical changes to ERA. First, develop conceptual cause-effect diagrams that consider relevant management decisions as well as appropriate spatial and temporal scales to include both direct and indirect effects of climate change and the stressor of management interest. Second, develop assessment end points that are expressed as ecosystem services. Third, evaluate multiple stressors and nonlinear responses-include the chemicals and the stressors related to climate change. Fourth, estimate how climate change will affect or modify management options as the impacts become manifest. Fifth, consider the direction and rate of change relative to management objectives, recognizing that both positive and negative outcomes can occur. Sixth, determine the major drivers of uncertainty, estimating and bounding stochastic uncertainty spatially, temporally, and progressively. Seventh, plan for adaptive management to account for changing environmental conditions and consequent changes to ecosystem services. Good communication is essential for making risk-related information understandable and useful for managers and stakeholders to implement a successful risk-assessment and decision-making process. Copyright © 2012 SETAC.

  3. Global risk of pharmaceutical contamination from highly populated developing countries.

    Rehman, Muhammad Saif Ur; Rashid, Naim; Ashfaq, Muhammad; Saif, Ameena; Ahmad, Nasir; Han, Jong-In

    2015-11-01

    Global pharmaceutical industry has relocated from the west to Asian countries to ensure competitive advantage. This industrial relocation has posed serious threats to the environment. The present study was carried out to assess the possible pharmaceutical contamination in the environment of emerging pharmaceutical manufacturing countries (Bangladesh, China, India and Pakistan). Although these countries have made tremendous progress in the pharmaceutical sector but most of their industrial units discharge wastewater into domestic sewage network without any treatment. The application of untreated wastewater (industrial and domestic) and biosolids (sewage sludge and manure) in agriculture causes the contamination of surface water, soil, groundwater, and the entire food web with pharmaceutical compounds (PCs), their metabolites and transformed products (TPs), and multidrug resistant microbes. This pharmaceutical contamination in Asian countries poses global risks via product export and international traveling. Several prospective research hypotheses including the development of new analytical methods to monitor these PCs/TPs and their metabolites, highly resistant microbial strains, and mixture toxicity as a consequence of pharmaceutical contamination in these emerging pharmaceutical exporters have also been proposed based on the available literature. Copyright © 2013 Elsevier Ltd. All rights reserved.

  4. Solar Asset Management Software

    Iverson, Aaron [Ra Power Management, Inc., Oakland, CA (United States); Zviagin, George [Ra Power Management, Inc., Oakland, CA (United States)

    2016-09-30

    Ra Power Management (RPM) has developed a cloud based software platform that manages the financial and operational functions of third party financed solar projects throughout their lifecycle. RPM’s software streamlines and automates the sales, financing, and management of a portfolio of solar assets. The software helps solar developers automate the most difficult aspects of asset management, leading to increased transparency, efficiency, and reduction in human error. More importantly, our platform will help developers save money by improving their operating margins.

  5. Climate change, global risks, challenges and decisions. Synthesis report

    Richardson, K.; Steffen, W.; Schellnhuber, H.J.

    2009-03-01

    The United Nations Framework Convention on Climate Change (UNFCCC) meeting to be held in Copenhagen in December 2009 (the 15th Conference of the Parties, COP-15) will be a critical step in developing a global response to the threat of climate change caused by human activities. The primary scientific input to those negotiations is the Fourth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), published in 2007. The IPCC report has already been instrumental in increasing both public and political awareness of the societal risks associated with unchecked emission of greenhouse gases. Since the production of the IPCC report, new knowledge has emerged that furthers understanding of the impacts of human influence on the climate and the response options and approaches that are available to tackle this complex issue. To bring this new knowledge together, the International Alliance of Research Universities organised an international scientific congress on climate change, Climate Change: Global Risks, Challenges and Decisions, which was held in Copenhagen from 10-12 March 2009. Participants came from nearly 80 different countries and contributed with more than 1400 scientific presentations. Abstracts for all of the scientific presentations made can be found at www.iop.org/EJ/volume/1755-1315/6, and a transcript of the closing plenary session can be found at environmentalresearchweb.org/cws/article/opinion/39126. This synthesis report presents an up-to-date overview of a broad range of research relevant to climate change - including fundamental climate science, the impacts of a changing climate on society and environment, and the many tools and approaches available to deal effectively with the challenge of climate change. (LN)

  6. Flood Risk and Asset Management

    2012-09-01

    or silty fluvial / estuarial dykes, or pre- damaged clay surface layer. Flows / pressures lead to internal erosion and piping (FLOODsite, 2007...or both data sets from the Teton Dam failure or the Huaccoto landslide in Peru . The docu- mented data for these two events is not very de- tailed...from that of homogeneous embankments, because of the existence of less erosive layers (such as a clay core) within the dam body. The erosion of the

  7. Downside Risk and Asset Pricing

    G.T. Post (Thierry); P. van Vliet (Pim)

    2004-01-01

    textabstractWe analyze if the value-weighted stock market portfolio is second-order stochastic dominance (SSD) efficient relative to benchmark portfolios formed on size, value, and momentum. In the process, we also develop several methodological improvements to the existing tests for SSD efficiency.

  8. Sinopec Goes After Oil Assets Worldwide

    2010-01-01

    @@ US$2.45b deal to gain reserves of 393m barrels of crude equivalent China's enterprises eye global expansion via mergers and acquisitions in 2010 as the country's economic power increases.China Petrochemical Corporation (Sinopec),Asia's largest oil refiner, plans to purchase the entire oil and gas assets in the Argentinean arm of US-based Occidental Petroleum Corp.

  9. Global review of open access risk assessment software packages valid for global or continental scale analysis

    Daniell, James; Simpson, Alanna; Gunasekara, Rashmin; Baca, Abigail; Schaefer, Andreas; Ishizawa, Oscar; Murnane, Rick; Tijssen, Annegien; Deparday, Vivien; Forni, Marc; Himmelfarb, Anne; Leder, Jan

    2015-04-01

    Over the past few decades, a plethora of open access software packages for the calculation of earthquake, volcanic, tsunami, storm surge, wind and flood have been produced globally. As part of the World Bank GFDRR Review released at the Understanding Risk 2014 Conference, over 80 such open access risk assessment software packages were examined. Commercial software was not considered in the evaluation. A preliminary analysis was used to determine whether the 80 models were currently supported and if they were open access. This process was used to select a subset of 31 models that include 8 earthquake models, 4 cyclone models, 11 flood models, and 8 storm surge/tsunami models for more detailed analysis. By using multi-criteria analysis (MCDA) and simple descriptions of the software uses, the review allows users to select a few relevant software packages for their own testing and development. The detailed analysis evaluated the models on the basis of over 100 criteria and provides a synopsis of available open access natural hazard risk modelling tools. In addition, volcano software packages have since been added making the compendium of risk software tools in excess of 100. There has been a huge increase in the quality and availability of open access/source software over the past few years. For example, private entities such as Deltares now have an open source policy regarding some flood models (NGHS). In addition, leaders in developing risk models in the public sector, such as Geoscience Australia (EQRM, TCRM, TsuDAT, AnuGA) or CAPRA (ERN-Flood, Hurricane, CRISIS2007 etc.), are launching and/or helping many other initiatives. As we achieve greater interoperability between modelling tools, we will also achieve a future wherein different open source and open access modelling tools will be increasingly connected and adapted towards unified multi-risk model platforms and highly customised solutions. It was seen that many software tools could be improved by enabling user

  10. Managing Food Quality Risk in Global Supply Chain: A Risk Management Framework

    Pablo Jose Arevalo Chavez

    2012-04-01

    Full Text Available Today, the food sector is one of the sectors most vulnerable to intentional contamination by debilitating agents [1]. Some cases of contaminated food have indicated that product quality risk is one of the vulnerabilities in the global supply chain. A series of company scandals, affecting reputation and causing the recall of products and increasing costs have hit the food industry. The obvious problem is that even a minor incident in one part of the chain can have disastrous effects on other parts of the supply chain. Thus, risks are transmitted through the chain. Even though the dangers from members in the supply chain are small, the cumulative effect becomes significant. The aim of this study is to propose an integrated supply chain risk management framework for practitioners that can provide directions for how to evaluate food quality risk in the global supply chain. For validating the proposed model in‐depth, a case study is conducted on a food SME distributor in Central America. The case study investigates how product quality risks are handled according to the proposed framework.

  11. Global water risks and national security: Building resilience (Invited)

    Pulwarty, R. S.

    2013-12-01

    The UN defines water security as the capacity of a population to safeguard sustainable access to adequate quantities of acceptable quality water for sustaining livelihoods, human well-being, and socio-economic development, for ensuring protection against water-borne pollution and water-related disasters, and for preserving ecosystems in a climate of peace and political stability. This definition highlights complex and interconnected challenges and underscores the centrality of water for environmental services and human aactivities. Global risks are expressed at the national level. The 2010 Quadrennial Defense Review and the 2010 National Security Strategy identify climate change as likely to trigger outcomes that will threaten U.S. security including how freshwater resources can become a security issue. Impacts will be felt on the National Security interest through water, food and energy security, and critical infrastructure. This recognition focuses the need to consider the rates of change in climate extremes, in the context of more traditional political, economic, and social indicators that inform security analyses. There is a long-standing academic debate over the extent to which resource constraints and environmental challenges lead to inter-state conflict. It is generally recognized that water resources as a security issue to date exists mainly at the substate level and has not led to physical conflict between nation states. In conflict and disaster zones, threats to water security increase through inequitable and difficult access to water supply and related services, which may aggravate existing social fragility, tensions, violence, and conflict. This paper will (1) Outline the dimensions of water security and its links to national security (2) Analyze water footprints and management risks for key basins in the US and around the world, (3) map the link between global water security and national concerns, drawing lessons from the drought of 2012 and elsewhere

  12. Managing Food Quality Risk in Global Supply Chain: A Risk Management Framework

    Arevalo Chavez, Pablo Jose; Seow, Christopher

    2012-01-01

    Today, the food sector is one of the sectors most vulnerable to intentional contamination by debilitating agents [1]. Some cases of contaminated food have indicated that product quality risk is one of the vulnerabilities in the global supply chain. A series of company scandals, affecting reputation and causing the recall of products and increasing costs have hit the food industry. The obvious problem is that even a minor incident in one part of the chain can have disastrous effects on other p...

  13. Asset Pricing - A Brief Review

    Li, Minqiang

    2010-01-01

    I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

  14. Rational Asset Pricing Bubbles Revisited

    Jan Werner

    2012-01-01

    Price bubble arises when the price of an asset exceeds the asset's fundamental value, that is, the present value of future dividend payments. The important result of Santos and Woodford (1997) says that price bubbles cannot exist in equilibrium in the standard dynamic asset pricing model with rational agents as long as assets are in strictly positive supply and the present value of total future resources is finite. This paper explores the possibility of asset price bubbles when either one of ...

  15. Research Synthesis Methods in an Age of Globalized Risks: Lessons from the Global Burden of Foodborne Disease Expert Elicitation

    Hald, Tine; Angulo, Fred; Bin Hamzah, Wan Mansor

    2016-01-01

    We live in an age that increasingly calls for national or regional management of global risks. This article discusses the contributions that expert elicitation can bring to efforts to manage global risks and identifies challenges faced in conducting expert elicitation at this scale. In doing so...... it draws on lessons learned from conducting an expert elicitation as part of the World Health Organizations (WHO) initiative to estimate the global burden of foodborne disease; a study commissioned by the Foodborne Disease Epidemiology Reference Group (FERG). Expert elicitation is designed to fill gaps...

  16. Nuclear asset management. Slide notes

    Puglia, W.; Bailey, H.; Kubinova, J.

    2004-01-01

    Nuclear asset management is defined as the process for making resource allocation and risk management decisions at all levels of nuclear generation business to maximize value/profitability for all stakeholders while maintaining plant safety. In the presentation, the NAM concept is explained, financial benefits achieved in US industry over the past 12 years are outlined, Data Systems and Solutions (DS and S) is presented as a joint venture between Rolls-Royce and SAIC, and NAM benefits in nuclear industry from DS and S client experience are demonstrated. (P.A.)

  17. Global Precipitation Measurement (GPM) and International Space Station (ISS) Coordination for CubeSat Deployments to Minimize Collision Risk

    Pawloski, James H.; Aviles, Jorge; Myers, Ralph; Parris, Joshua; Corley, Bryan; Hehn, Garrett; Pascucci, Joseph

    2016-01-01

    The Global Precipitation Measurement Mission (GPM) is a joint U.S. and Japan mission to observe global precipitation, extending the Tropical Rainfall Measuring Mission (TRMM), which was launched by H-IIA from Tanegashima in Japan on February 28TH, 2014 directly into its 407km operational orbit. The International Space Station (ISS) is an international human research facility operated jointly by Russia and the USA from NASA's Johnson Space Center (JSC) in Houston Texas. Mission priorities lowered the operating altitude of ISS from 415km to 400km in early 2105, effectively placing both vehicles into the same orbital regime. The ISS has begun a program of deployments of cost effective CubeSats from the ISS that allow testing and validation of new technologies. With a major new asset flying at the same effective altitude as the ISS, CubeSat deployments became a serious threat to GPM and therefore a significant indirect threat to the ISS. This paper describes the specific problem of collision threat to GPM and risk to ISS CubeSat deployment and the process that was implemented to keep both missions safe from collision and maximize their project goals.

  18. Asset Management of Roadway Signs Through Advanced Technology

    2003-06-01

    This research project aims to ease the process of Roadway Sign asset management. The project utilized handheld computer and global positioning system (GPS) technology to capture sign location data along with a timestamp. This data collection effort w...

  19. Implementace Asset managementu

    Fuxa, Lukáš

    2016-01-01

    Tato diplomová práce obsahuje návrh implementace Asset managementu do ServiceNow v nejmenované nadnárodní společnosti. Cílem diplomové práce je analýza požadavku společnosti a nalezení vhodného řešení implementace Asset managementu v rámci stávajících nástrojů. Závěrem zhodnotím, zda je možné vybraný nástroj využít. This master’s thesis contains proposal to implementation Asset management to ServiceNow in unnamed multinational company. The aim of this master’s thesis is analysis of company...

  20. Essays on Empirical Asset Pricing

    Gormsen, Niels Joachim

    that the expected return to the distant-future cash flows increases by more in bad times than the expected return to near-future cash flows does. This new stylized fact is important for understanding why the expected return on the market portfolio as a whole varies over time. In addition, it has strong implications...... for which economic model that drives the return to stocks. Indeed, I find that none of the canonical asset pricing models can explain this new stylized fact while also explaining the previously documented facts about stock returns. The second chapter, called Conditional Risk, studies how the expected return...... on individual stocks is influenced by the fact that their riskiness varies over time. We introduce a new ”conditional-risk factor”, which is a simple method for determining how much of the expected return to individual stocks that can be explained by time variation in their market risk, i.e. market betas. Using...

  1. Elder Abuse: Global Situation, Risk Factors, and Prevention Strategies.

    Pillemer, Karl; Burnes, David; Riffin, Catherine; Lachs, Mark S

    2016-04-01

    Elder mistreatment is now recognized internationally as a pervasive and growing problem, urgently requiring the attention of health care systems, social welfare agencies, policymakers, and the general public. In this article, we provide an overview of global issues in the field of elder abuse, with a focus on prevention. This article provides a scoping review of key issues in the field from an international perspective. By drawing primarily on population-based studies, this scoping review provided a more valid and reliable synthesis of current knowledge about prevalence and risk factors than has been available. Despite the lack of scientifically rigorous intervention research on elder abuse, the review also identified 5 promising strategies for prevention. The findings highlight a growing consensus across studies regarding the extent and causes of elder mistreatment, as well as the urgent need for efforts to make elder mistreatment prevention programs more effective and evidence based. © The Author 2016. Published by Oxford University Press on behalf of The Gerontological Society of America. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  2. Entropy-based financial asset pricing.

    Mihály Ormos

    Full Text Available We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  3. Entropy-based financial asset pricing.

    Ormos, Mihály; Zibriczky, Dávid

    2014-01-01

    We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  4. Education and Asset Composition.

    Bradley, Michael G.; Graham, John W.

    1988-01-01

    Investigates the relationship between educational attainment and married couples' efficiency at managing their assets. Using 1976 data, this study of over 750 Illinois couples disclosed little empirical evidence that education imparts efficiency to the realm of personal finance. Includes 6 tables, 5 notes, and 17 references. (MLH)

  5. Asset Opacity and Liquidity

    Stenzel, A.; Wagner, W.B.

    2013-01-01

    Abstract: We consider a model of private information acquisition in which the cost of information depends on an asset's opacity. The model generates a hump-shaped relationship between opacity and the equilibrium amount of private information. In particular, the incentives to acquire information are

  6. Managing intangible assets

    Schoemaker, M.J.R.; Jonker, J.

    2005-01-01

    - Purpose – To develop a concept of managing intangible assets in contemporary organisations. Insight is given into the rise of the network organisation and the importance of talent, social capital and identity in this kind of organisation. - Design/methodology/approach – This paper develops a

  7. Pension plan asset valuation

    Owadally, M. I; Haberman, S.

    2001-01-01

    Various asset valuation methods are used in the context of funding valuations. The motivation for such methods and their properties are briefly described. Some smoothed value or market-related methods based on arithmetic averaging and exponential smoothing are considered and their effect on funding is discussed. Suggestions for further research are also made.

  8. Management of capital assets by local governments: an assessment and benchmarking survey

    KAGANOVA, Olga; TELGARSKY, Jeffrey

    2018-01-01

    There is a growing recognition of the importance of government-owned capital assets, both conceptually and in practice, in large part due to the 2008 global financial crisis. However, a sizeable gap remains between the academic and professional “universe of knowledge” surrounding government asset management, and the actual asset management practiced by governments. In particular, the majority of governments around the world are wholly uninformed when it comes to good asset management. The pur...

  9. Which part of a short, global risk assessment, the Risk Instrument for Screening in the Community, predicts adverse healthcare outcomes?

    O’Caoimh, Rónán

    2015-01-01

    The Risk Instrument for Screening in the Community (RISC) is a short, global risk assessment to identify community-dwelling older adults’ one-year risk of institutionalisation, hospitalisation, and death. We investigated the contribution that the three components of the RISC (\

  10. The process of developing policy based on global environmental risk assessment

    Fisk, D.J.

    1995-01-01

    A brief presentation is given on developing policy based on a global environmental risk assessment. The author looks at the global warming issue as if it were a formal problem in risk assessment. He uses that framework to make one or two suggestions as to how the interaction of policy and research might evolve as the climate convention progresses

  11. Ambiguity and Volatility : Asset Pricing Implications

    Pataracchia, B.

    2011-01-01

    Using a simple dynamic consumption-based asset pricing model, this paper explores the implications of a representative investor with smooth ambiguity averse preferences [Klibano¤, Marinacci and Mukerji, Econometrica (2005)] and provides a comparative analysis of risk aversion and ambiguity aversion.

  12. Labor Unions and Asset Prices

    Busato, Francesco; Addessi, William

    The paper investigates the nexus between labor and financial markets, focusing on the interaction between labor union behavior in setting wages, firms' investment strategy and asset prices. The way unions set wage claims after observing firm's financial performance increases the volatility of firms......' returns and the riskiness of corporate ownership. To remunerate this higher volatility and stronger risk, firms' equities have to grant high return. This mechanism is able to offer an explanation of for the "equity puzzle", that is it can explain the difference between equity returns and the risk free...... rate. It is a welcome result that the simulated excess return is about the empirical estimate and this result is obtained with a logarithmic specification of the shareholders preferences....

  13. INNOVATION IN ACCOUNTING BIOLOGIC ASSETS

    Stolуarova M. A.; Shcherbina I. D.

    2016-01-01

    The article describes the innovations in the classification and measurement of biological assets according to IFRS (IAS) 41 "Agriculture". The difficulties faced by agricultural producers using standard, set out in article. The classification based on the adopted amendments, according to which the fruit-bearing plants, previously accounted for as biological assets are measured at fair value are included in the category of fixed assets. The structure of biological assets and main means has bee...

  14. Global Risk Diversification: An Empirical Investigation From The U. S. Perspective

    H. Christine Hsu

    2011-01-01

    The case for global risk diversification has been built on correlations between the U.S. and international stock markets. Now that we witness how tightly the world stock markets are correlated, especially after the global financial crisis of 2008-2009, does it still make sense to diversify globally? Can the investments in global equity portfolios be protected in todays volatile markets? These questions have preoccupied a growing number of portfolio managers in recent years, as well as many of...

  15. Efficiently Inefficient Markets for Assets and Assets Management

    Garleanu, Nicolae; Heje Pedersen, Lasse

    We consider a model where investors can invest directly or search for an asset manager, information about assets is costly, and managers charge an endogenous fee. The efficiency of asset prices is linked to the efficiency of the asset management market: if investors can find managers more easily......, more money is allocated to active management, fees are lower, and asset prices are more efficient. Informed managers outperform after fees, uninformed managers underperform after fees, and the net performance of the average manager depends on the number of "noise allocators." Finally, we show why large...

  16. Competitive Procurement and Asset Specificity

    Sorana, V.

    2003-01-01

    This paper studies the effects of asset specificity on the performance of procurement auctions with subcontracting and asset sales.The analysis highlights the role of several asset features like transfer costs, type of alternative uses and maintenance requirements.It is argued that, if bargaining

  17. Asset planning performance measurement framework

    Arthur, D.; Hodkiewicz, M.; Schoenmaker, R.; Muruvan, S.

    2014-01-01

    The international asset management standard ISO 55001, introduced in early 2014, outlines the requirement for an effective Asset Management System. Asset Management practitioners are seeking guidance on implementing one of the key requirements of the standard: the “line of sight” between the

  18. Modelling of capital asset pricing by considering the lagged effects

    Sukono; Hidayat, Y.; Bon, A. Talib bin; Supian, S.

    2017-01-01

    In this paper the problem of modelling the Capital Asset Pricing Model (CAPM) with the effect of the lagged is discussed. It is assumed that asset returns are analysed influenced by the market return and the return of risk-free assets. To analyse the relationship between asset returns, the market return, and the return of risk-free assets, it is conducted by using a regression equation of CAPM, and regression equation of lagged distributed CAPM. Associated with the regression equation lagged CAPM distributed, this paper also developed a regression equation of Koyck transformation CAPM. Results of development show that the regression equation of Koyck transformation CAPM has advantages, namely simple as it only requires three parameters, compared with regression equation of lagged distributed CAPM.

  19. A global overview of risk management of the DOE complex

    Alesso, H.P.; Majumdar, K.C.

    1993-01-01

    No endeavor is risk-fire and as we realize the inherent risks in society, our only viable solution is to manage the risk. Application of an integrated risk management program of a large technological system like the DOE complex is a difficult, task; but it is the only rational means to optimize the risk-benefit equation. An effective risk management culture-within the DOE complex will in the long run, ensure a consistent response to mitigate identified risks. An effective risk management program provides responsible administrative planning and logical application of the best technical analyses. It requires the involvement of all personnel. Our objective in this paper is to point out broad perspectives that raise concerns about future DOE ask management issues and to suggest some possible remedies

  20. Asset management program

    Wison, P.; Newman, G.

    2013-01-01

    In order to understand our assets we have been assessing the condition of the units in our nuclear power plants developing asset life management options on a component by component basis. We have concluded that with the right work and planning we will be able to manage the units in a way that balances capacity requirements over the long term and at the same time manage the demand on critical resources. Major component replacement outages include Installing/removing bulkheads, pressure tube and calandria tube replacement, feeder replacement, steam generator replacement, supporting facilities and infrastructure, reactor inspections and maintenance including tooling enhancements, additional non reactor systems inspection & testing and continued research and analysis. These plans will have to take into account cost, resource and capacity requirements.

  1. Digital asset management.

    Humphrey, Clinton D; Tollefson, Travis T; Kriet, J David

    2010-05-01

    Facial plastic surgeons are accumulating massive digital image databases with the evolution of photodocumentation and widespread adoption of digital photography. Managing and maximizing the utility of these vast data repositories, or digital asset management (DAM), is a persistent challenge. Developing a DAM workflow that incorporates a file naming algorithm and metadata assignment will increase the utility of a surgeon's digital images. Copyright 2010 Elsevier Inc. All rights reserved.

  2. Organizations must match assets

    Carley, G.R.

    1991-01-01

    The unprofitable state of the Canadian oil industry, the adverse economic environment, the difficulty of finding capital, and the diminishing resources of conventional lighter crude oil make it necessary for Canadian oil companies to match their organizations and their financing to their assets. This is illustrated according to the experience of Saskoil, a Saskatchewan oil and gas company. An increasing production of oil and natural gas, and an increasing amount of new oil production as heavy oil, led to organizational changes such as the purchase of an asphalt plant to provide the company with downstream experience, establishing a working group to explore and develop heavy oil resources, and forming a company to manage non-core assets. The latter company, Pasqua Resources, manages assets such as small properties and ownership interests in order to increase the operating efficiency of Saskoil. Pasqua provides Saskoil with a corporate and organizational vehicle to accommodate partnerships and joint venture capital invested in property purchase opportunities, and to manage any of Saskoil's divestiture activities

  3. Accounting treatment of intangible assets

    Gorgieva-Trajkovska, Olivera; Koleva, Blagica; Georgieva Svrtinov, Vesna

    2015-01-01

    The accounting for fixed assets is, in many cases, a straightforward exercise, but it isn’t always so when it comes to the issue of intangible fixed assets and recognizing such assets on the balance sheet. IAS 38, In¬tan¬gi¬ble Assets, outlines the accounting re¬quire¬ments for in¬tan¬gi¬ble assets, which are non-mon¬e¬tary assets which are without physical substance and iden¬ti¬fi¬able (either being separable or arising from con¬trac¬tual or other legal rights). In¬tan¬gi¬ble assets meeting ...

  4. A Global Stock and Bond Model

    Connor, Gregory

    1996-01-01

    Factor models are now widely used to support asset selection decisions. Global asset allocation, the allocation between stocks versus bonds and among nations, usually relies instead on correlation analysis of international equity and bond indexes. It would be preferable to have a single integrated framework for both asset selection and asset allocation. This framework would require a factor model applicable at an asset or country level, as well as at a global level,...

  5. The Functions of Sourcing Intermediaries in Global Supply Risk Management

    Vedel, Mette; Ellegaard, Chris

    The aim of this work-in-progress paper is to uncover the supply risk management functions performed by sourcing intermediaries. The purchasing and supply chain management literature, including the part of it concerned with supply risk, pays little attention to sourcing intermediaries....... But the fields of marketing and international business have investigated the intermediary including its high supply risk reducing potentials, suggesting that this supply chain entity may be highly relevant to supply risk management. In order to get a better understanding of the supply risk reducing properties...... of sourcing intermediaries, we perform a study of the Danish clothing industry. The study incorporate interviews across a range of functions and companies in this industry including retailers, producers, suppliers, and various types of intermediaries. We contribute by coupling the supply risk management...

  6. Global Variance Risk Premium and Forex Return Predictability

    Aloosh, Arash

    2014-01-01

    In a long-run risk model with stochastic volatility and frictionless markets, I express expected forex returns as a function of consumption growth variances and stock variance risk premiums (VRPs)—the difference between the risk-neutral and statistical expectations of market return variation. This provides a motivation for using the forward-looking information available in stock market volatility indices to predict forex returns. Empirically, I find that stock VRPs predict forex returns at a ...

  7. Recursive inter-generational utility in global climate risk modeling

    Minh, Ha-Duong [Centre International de Recherche sur l' Environnement et le Developpement (CIRED-CNRS), 75 - Paris (France); Treich, N. [Institut National de Recherches Agronomiques (INRA-LEERNA), 31 - Toulouse (France)

    2003-07-01

    This paper distinguishes relative risk aversion and resistance to inter-temporal substitution in climate risk modeling. Stochastic recursive preferences are introduced in a stylized numeric climate-economy model using preliminary IPCC 1998 scenarios. It shows that higher risk aversion increases the optimal carbon tax. Higher resistance to inter-temporal substitution alone has the same effect as increasing the discount rate, provided that the risk is not too large. We discuss implications of these findings for the debate upon discounting and sustainability under uncertainty. (author)

  8. Investor Flows to Asset Managers

    Christoffersen, Susan E. K.; Musto, David K.; Wermers, Russ

    2014-01-01

    of the financial system and the real economy, and the retirement security and protection of the investors. There is an accordingly large and growing literature on flows that has concentrated on the main retail investment pool, the open-end mutual fund, and has used flows to explore many aspects of retail financial...... decision making. We survey this literature and, where relevant, describe how open-end flows compare to other investment vehicles. We also identify opportunities both for future research and for refinement of mutual fund design, in particular as suggested by the recent rethinking of retail investment pools......Cash flows between investors and funds are both cause and effect in a complex web of economic decisions. Among the issues at stake are the prospects and fees of the funds, the efforts and risk choices by the funds' managers, the pricing and comovement of the assets they trade, the stability...

  9. OPPORTUNITIES AND RISKS OF GLOBALIZATION IN RURAL AREAS. CASE STUDY: BOTOSANI COUNTY

    Maria-Simona Cuciureanu

    2014-04-01

    Full Text Available The global economy plays an important role in the development of a region or a county/district as it promotes the exploitation of resources and space in a logical and rational manner. The trend of global economic uniformity allows opportunities and risks to Botoșani County since globalization involves economic development and rising living standards, but loss of cultural values, traditions and customs. The area of study currently confronts with socio-economic and demographic changes that may be addressed by globalization, but at the same time spatial development according to global standards will cause the loss of Botoșani County’s authenticity.

  10. A critical evaluation of risk-return characteristics of environmentally focused stock’s companies

    Stanislav Škapa

    2013-01-01

    Full Text Available The objective of the paper is to critically evaluate and determine risk-return profile environmentally focused stock’s companies which are covered by STOXX Global ESG Environmental Leaders Index and whether this index should be taken in as an independent asset class of investments portfolio for its risk-return improvement. This paper gives an empirical view on the ex-post asset classes characteristics focused mainly on risk side of investment.

  11. Asset Allocation:diversification dan Rebalancing sebagai Bagian dari Proses Perencanaan Keuangan (suatu Kajian Pustaka)

    Dewi, Vera Intanie

    2013-01-01

    Financial planning is the process of designing an investmentstrategy that can helps an individual to achieve financial goals. Asset allocation, diversification and rebalancing is a particularly important steps of investment strategy process. By doing asset allocation and diversification among a variety of different asset categories such as bonds,stocks,mutual funds and saving can helps minimize risk and maximize return. And the goal of rebalancing is to move the current asset allocation back ...

  12. Habitats at Risk. Global Warming and Species Loss in Globally Significant Terrestrial Ecosystems

    Malcolm, J.R.; Liu, Canran; Miller, L.B.; Allnutt, T.; Hansen, L.

    2002-02-01

    In this study, a suite of models of global climate and vegetation change is used to investigate three important global warming-induced threats to the terrestrial Global 200 ecoregions: (1) Invasions by new habitat types (and corresponding loss of original habitat types); (2) Local changes of habitat types; (3) High rates of required species migration. Seven climate models (general circulation models or GCMs) and two vegetation models (BIOME3 and MAPSS) were used to produce 14 impact scenarios under the climate associated with a doubling of atmospheric CO2 concentrations, which is expected to occur in less than 100 years. Previous analyses indicated that most of the variation among the impact scenarios was attributable to the particular vegetation model used, hence the authors provide results separately for the two models. The models do not provide information on biodiversity per se, but instead simulate current and future potential distributions of major vegetation types (biomes) such as tundra and broadleaf tropical rain forest

  13. Asset sales, asset exchanges, and shareholder wealth in China

    Weiting Huang

    2012-01-01

    Full Text Available In this paper, we study a sample of 1376 corporate asset sales and 250 asset exchanges in China between 1998 and 2006. We find that corporate asset sales in China enhance firm value with a cumulative abnormal return (CAR of 0.46% for the pre-announcement five-day period, which is consistent with the evidence discovered in both U.K. and U.S. For companies that exchanged assets during the sample period, the pre-announcement five-day CAR of 1.32% is statistically significant. We also discover that gains from divesting assets are positively related to managerial performance measured by Tobin's q ratio and the relative size of the asset sold or exchanged. Well-managed (high-q companies are more likely to sell or exchange assets in a value-maximizing fashion than poorly managed (low-q companies. Furthermore, asset-seller gains are not related to enhancing corporate focus, but improving corporate focus by exchanging for core assets enhances firm value.

  14. Rationale and design of INTERSTROKE: a global case-control study of risk factors for stroke

    O'Donnell, M; Serpault, Damien Xavier; Diener, C

    2010-01-01

    Stroke is a major global health problem. It is the third leading cause of death and the leading cause of adult disability. INTERHEART, a global case-control study of acute myocardial infarction in 52 countries (29,972 participants), identified nine modifiable risk factors that accounted for >90% ...

  15. Risk analysis reveals global hotspots for marine debris ingestion by sea turtles

    Schuyler, Qamar A.; Wilcox, Chris; Townsend, Kathy A.; Wedemeyer-Strombel, Kathryn R.; Balazs, George; van Sebille, Erik|info:eu-repo/dai/nl/304831921; Hardesty, Britta Denise

    2016-01-01

    Plastic marine debris pollution is rapidly becoming one of the critical environmental concerns facing wildlife in the 21st century. Here we present a risk analysis for plastic ingestion by sea turtles on a global scale. We combined global marine plastic distributions based on ocean drifter data with

  16. A framework for assessing global change risks to forest carbon stocks in the United States

    Christopher W. Woodall; Grant M. Domke; Karin L. Riley; Christopher M. Oswalt; Susan J. Crocker; Gary W. Yohe

    2013-01-01

    Among terrestrial environments, forests are not only the largest long-term sink of atmospheric carbon (C), but are also susceptible to global change themselves, with potential consequences including alterations of C cycles and potential C emission. To inform global change risk assessment of forest C across large spatial/temporal scales, this study constructed and...

  17. Coping with global environmental change, disasters and security: threats, challenges, vulnerabilities and risks

    Brauch, H.G.; Oswald Spring, Ú.; Mesjasz, C.; Grin, J.; Kameri-Mbote, P.; Chourou, B.; Dunay, P.; Birkmann, J.

    2011-01-01

    This policy-focused Global Environmental and Human Security Handbook for the Anthropo-cene (GEHSHA) addresses new security threats, challenges, vulnerabilities and risks posed by global environmental change and disasters. In 6 forewords, 5 preface essays 95 peer reviewed chapcountries analyse in 10

  18. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013

    Forouzanfar, Mohammad H.; Alexander, Lily; Anderson, H. Ross

    2015-01-01

    Background The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the fi rst of a series of annual updates of the GBD. Risk factor quantifi cation, particularly of modifi able risk factors, can help to identify emerging threats to population health and opportunities for ...

  19. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013

    Forouzanfar, M.H.; Alexander, L.; Ross Anderson, H.; Geleijnse, J.M.

    2015-01-01

    Background The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the first of a series of annual updates of the GBD. Risk factor quantification, particularly of modifiable risk factors, can help to identify emerging threats to population health and opportunities for

  20. What can'(t) we do with global flood risk models?

    Ward, P.; Jongman, B.; Salamon, P.; Simpson, A.; Bates, P. D.; de Groeve, T.; Muis, S.; Coughlan, E.; Rudari, R.; Trigg, M. A.; Winsemius, H.

    2015-12-01

    Global flood risk models are now a reality. Initially, their development was driven by a demand from users for first-order global assessments to identify risk hotspots. Relentless upward trends in flood damage over the last decade have enhanced interest in such assessments. The adoption of the Sendai Framework for Disaster Risk Reduction and the Warsaw International Mechanism for Loss and Damage Associated with Climate Change Impacts have made these efforts even more essential. As a result, global flood risk models are being used more and more in practice, by an increasingly large number of practitioners and decision-makers. However, they clearly have their limits compared to local models. To address these issues, a team of scientists and practitioners recently came together at the Global Flood Partnership meeting to critically assess the question 'What can('t) we do with global flood risk models?'. The results of this dialogue (Ward et al., 2013) will be presented, opening a discussion on similar broader initiatives at the science-policy interface in other natural hazards. In this contribution, examples are provided of successful applications of global flood risk models in practice (for example together with the World Bank, Red Cross, and UNISDR), and limitations and gaps between user 'wish-lists' and model capabilities are discussed. Finally, a research agenda is presented for addressing these limitations and reducing the gaps. Ward, P.J. et al., 2015. Nature Climate Change, doi:10.1038/nclimate2742.

  1. Basel III and Asset Securitization

    M. Mpundu

    2013-01-01

    Full Text Available Asset securitization via special purpose entities involves the process of transforming assets into securities that are issued to investors. These investors hold the rights to payments supported by the cash flows from an asset pool held by the said entity. In this paper, we discuss the mechanism by which low- and high-quality entities securitize low- and high-quality assets, respectively, into collateralized debt obligations. During the 2007–2009 financial crisis, asset securitization was seriously inhibited. In response to this, for instance, new Basel III capital and liquidity regulations were introduced. Here, we find that we can explicitly determine the transaction costs related to low-quality asset securitization. Also, in the case of dynamic and static multipliers, the effects of unexpected negative shocks such as rating downgrades on asset price and input, debt obligation price and output, and profit will be quantified. In this case, we note that Basel III has been designed to provide countercyclical capital buffers to negate procyclicality. Moreover, we will develop an illustrative example of low-quality asset securitization for subprime mortgages. Furthermore, numerical examples to illustrate the key results will be provided. In addition, connections between Basel III and asset securitization will be highlighted.

  2. Global Credit Risk: World, Country and Industry Factors

    Schwaab, B.; Koopman, S.J.; Lucas, A.

    2017-01-01

    We investigate the dynamic properties of systematic default risk conditions for firms in different countries, industries and rating groups. We use a high-dimensional nonlinear non-Gaussian state-space model to estimate common components in corporate defaults in a 41 country samples between 1980:Q1

  3. Global Production Planning Process considering the Supply Risk of Overseas Manufacturing Sites

    Hosang Jung

    2015-01-01

    Full Text Available Although global manufacturers can produce most of their final products in local plants, they need to source components or parts from desirable overseas manufacturing partners at low cost in order to fulfill customer orders. In this global manufacturing environment, capacity information for planning is usually imprecise owing to the various risks of overseas plants (e.g., foreign governments’ policies and labor stability. It is therefore not easy for decision-makers to generate a global production plan showing the production amounts at local plants and overseas manufacturing facilities operated by manufacturing partners. In this paper, we present a new global production planning process considering the supply risk of overseas manufacturing sites. First, local experts estimate the supply capacity of an overseas plant using their judgment to determine when the risk could occur and how large the risk impact would be. Next, we run a global production planning model with the estimated supply capacities. The proposed process systematically adopts the qualitative judgments of local experts in the global production planning process and thus can provide companies with a realistic global production plan. We demonstrate the applicability of the proposed process with a real world case.

  4. Global obesity: trends, risk factors and policy implications.

    Malik, Vasanti S; Willett, Walter C; Hu, Frank B

    2013-01-01

    The worldwide increase in obesity and related chronic diseases has largely been driven by global trade liberalization, economic growth and rapid urbanization. These factors continue to fuel dramatic changes in living environments, diets and lifestyles in ways that promote positive energy balance. Nutritional transitions in low-income and middle-income countries are typically characterized by increases in the consumption of animal fat and protein, refined grains, and added sugar. This change is coupled with reductions in physical activity owing to more mechanized and technologically driven lifestyles. Given the high costs of obesity and comorbidities in terms of health-care expenditure and quality of life, prevention strategies are paramount, particularly in low-income and middle-income countries that must manage coexisting infectious diseases and undernutrition in addition to the obesity epidemic. As countries become increasingly urbanized, undernutrition and obesity can exist side by side within the same country, community or household, which is a particular challenge for health systems with limited resources. Owing to the scope and complexity of the obesity epidemic, prevention strategies and policies across multiple levels are needed in order to have a measurable effect. Changes should include high-level global policies from the international community and coordinated efforts by governments, organizations, communities and individuals to positively influence behavioural change.

  5. Global oil risks in the early 21st century

    Fantazzini, Dean; Höök, Mikael; Angelantoni, André

    2011-01-01

    The Deepwater Horizon incident demonstrated that most of the oil left is deep offshore or in other difficult to reach locations. Moreover, obtaining the oil remaining in currently producing reservoirs requires additional equipment and technology that comes at a higher price in both capital and energy. In this regard, the physical limitations on producing the ever-increasing quantities of oil are highlighted as well as the possibility of the peak of production occurring this decade. The economics of oil supply and demand are also briefly discussed showing why the available supply is basically fixed in the short to medium term. Also, an alarm bell for economic recessions is shown to be when energy takes a disproportionate amount of total consumer expenditures. In this context, risk mitigation practices in government and business are called for. As for the former, early education of the citizenry of the risk of economic contraction is a prudent policy to minimize potential future social discord. As for the latter, all business operations should be examined with the aim of building in resilience and preparing for a scenario in which capital and energy are much more expensive than in the business-as-usual one. - Highlights: ► Review of the physical background to peak oil and current oil situation. ► Economics of oil supply and demand are examined to identify imminent challenges. ► Investigation of the financial and energy transition risks associated with peak oil. ► Oil scarcity and price volatility induce certain governmental and business risks. ► General risk mitigation is vital and peak oil preparations should be undertaken.

  6. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013: a systematic analysis for the Global Burden of Disease Study 2013

    Forouzanfar, Mohammad H; Alexander, Lily; Anderson, H Ross; Bachman, Victoria F; Biryukov, Stan; Brauer, Michael; Burnett, Richard; Casey, Daniel; Coates, Matthew M; Cohen, Aaron; Delwiche, Kristen; Estep, Kara; Frostad, Joseph J; Kc, Astha; Kyu, Hmwe H; Moradi-Lakeh, Maziar; Ng, Marie; Slepak, Erica Leigh; Thomas, Bernadette A; Wagner, Joseph; Aasvang, Gunn Marit; Abbafati, Cristiana; Ozgoren, Ayse Abbasoglu; Abd-Allah, Foad; Abera, Semaw F; Aboyans, Victor; Abraham, Biju; Abraham, Jerry Puthenpurakal; Abubakar, Ibrahim; Abu-Rmeileh, Niveen M E; Aburto, Tania C; Achoki, Tom; Adelekan, Ademola; Adofo, Koranteng; Adou, Arsène K; Adsuar, José C; Afshin, Ashkan; Agardh, Emilie E; Al Khabouri, Mazin J; Al Lami, Faris H; Alam, Sayed Saidul; Alasfoor, Deena; Albittar, Mohammed I; Alegretti, Miguel A; Aleman, Alicia V; Alemu, Zewdie A; Alfonso-Cristancho, Rafael; Alhabib, Samia; Ali, Raghib; Ali, Mohammed K; Alla, François; Allebeck, Peter; Allen, Peter J; Alsharif, Ubai; Alvarez, Elena; Alvis-Guzman, Nelson; Amankwaa, Adansi A; Amare, Azmeraw T; Ameh, Emmanuel A; Ameli, Omid; Amini, Heresh; Ammar, Walid; Anderson, Benjamin O; Antonio, Carl Abelardo T; Anwari, Palwasha; Cunningham, Solveig Argeseanu; Arnlöv, Johan; Arsenijevic, Valentina S Arsic; Artaman, Al; Asghar, Rana J; Assadi, Reza; Atkins, Lydia S; Atkinson, Charles; Avila, Marco A; Awuah, Baffour; Badawi, Alaa; Bahit, Maria C; Bakfalouni, Talal; Balakrishnan, Kalpana; Balalla, Shivanthi; Balu, Ravi Kumar; Banerjee, Amitava; Barber, Ryan M; Barker-Collo, Suzanne L; Barquera, Simon; Barregard, Lars; Barrero, Lope H; Barrientos-Gutierrez, Tonatiuh; Basto-Abreu, Ana C; Basu, Arindam; Basu, Sanjay; Basulaiman, Mohammed O; Ruvalcaba, Carolina Batis; Beardsley, Justin; Bedi, Neeraj; Bekele, Tolesa; Bell, Michelle L; Benjet, Corina; Bennett, Derrick A; Benzian, Habib; Bernabé, Eduardo; Beyene, Tariku J; Bhala, Neeraj; Bhalla, Ashish; Bhutta, Zulfiqar A; Bikbov, Boris; Abdulhak, Aref A Bin; Blore, Jed D; Blyth, Fiona M; Bohensky, Megan A; Başara, Berrak Bora; Borges, Guilherme; Bornstein, Natan M; Bose, Dipan; Boufous, Soufiane; Bourne, Rupert R; Brainin, Michael; Brazinova, Alexandra; Breitborde, Nicholas J; Brenner, Hermann; Briggs, Adam D M; Broday, David M; Brooks, Peter M; Bruce, Nigel G; Brugha, Traolach S; Brunekreef, Bert|info:eu-repo/dai/nl/067548180; Buchbinder, Rachelle; Bui, Linh N; Bukhman, Gene; Bulloch, Andrew G; Burch, Michael; Burney, Peter G J; Campos-Nonato, Ismael R; Campuzano, Julio C; Cantoral, Alejandra J; Caravanos, Jack; Cárdenas, Rosario; Cardis, Elisabeth; Carpenter, David O; Caso, Valeria; Castañeda-Orjuela, Carlos A; Castro, Ruben E; Catalá-López, Ferrán; Cavalleri, Fiorella; Çavlin, Alanur; Chadha, Vineet K; Chang, Jung-Chen; Charlson, Fiona J; Chen, Honglei; Chen, Wanqing; Chen, Zhengming; Chiang, Peggy P; Chimed-Ochir, Odgerel; Chowdhury, Rajiv; Christophi, Costas A; Chuang, Ting-Wu; Chugh, Sumeet S; Cirillo, Massimo; Claßen, Thomas Kd; Colistro, Valentina; Colomar, Mercedes; Colquhoun, Samantha M; Contreras, Alejandra G; Cooper, Cyrus; Cooperrider, Kimberly; Cooper, Leslie T; Coresh, Josef; Courville, Karen J; Criqui, Michael H; Cuevas-Nasu, Lucia; Damsere-Derry, James; Danawi, Hadi; Dandona, Lalit; Dandona, Rakhi; Dargan, Paul I; Davis, Adrian; Davitoiu, Dragos V; Dayama, Anand; de Castro, E Filipa; De la Cruz-Góngora, Vanessa; De Leo, Diego; de Lima, Graça; Degenhardt, Louisa; Del Pozo-Cruz, Borja; Dellavalle, Robert P; Deribe, Kebede; Derrett, Sarah; Jarlais, Don C Des; Dessalegn, Muluken; deVeber, Gabrielle A; Devries, Karen M; Dharmaratne, Samath D; Dherani, Mukesh K; Dicker, Daniel; Ding, Eric L; Dokova, Klara; Dorsey, E Ray; Driscoll, Tim R; Duan, Leilei; Durrani, Adnan M; Ebel, Beth E; Ellenbogen, Richard G; Elshrek, Yousef M; Endres, Matthias; Ermakov, Sergey P; Erskine, Holly E; Eshrati, Babak; Esteghamati, Alireza; Fahimi, Saman; Faraon, Emerito Jose A; Farzadfar, Farshad; Fay, Derek F J; Feigin, Valery L; Feigl, Andrea B; Fereshtehnejad, Seyed-Mohammad; Ferrari, Alize J; Ferri, Cleusa P; Flaxman, Abraham D; Fleming, Thomas D; Foigt, Nataliya; Foreman, Kyle J; Paleo, Urbano Fra; Franklin, Richard C; Gabbe, Belinda; Gaffikin, Lynne; Gakidou, Emmanuela; Gamkrelidze, Amiran; Gankpé, Fortuné G; Gansevoort, Ron T; García-Guerra, Francisco A; Gasana, Evariste; Geleijnse, Johanna M; Gessner, Bradford D; Gething, Pete; Gibney, Katherine B; Gillum, Richard F; Ginawi, Ibrahim A M; Giroud, Maurice; Giussani, Giorgia; Goenka, Shifalika; Goginashvili, Ketevan; Dantes, Hector Gomez; Gona, Philimon; de Cosio, Teresita Gonzalez; González-Castell, Dinorah; Gotay, Carolyn C; Goto, Atsushi; Gouda, Hebe N; Guerrant, Richard L; Gugnani, Harish C; Guillemin, Francis; Gunnell, David; Gupta, Rahul; Gupta, Rajeev; Gutiérrez, Reyna A; Hafezi-Nejad, Nima; Hagan, Holly; Hagstromer, Maria; Halasa, Yara A; Hamadeh, Randah R; Hammami, Mouhanad; Hankey, Graeme J; Hao, Yuantao; Harb, Hilda L; Haregu, Tilahun Nigatu; Haro, Josep Maria; Havmoeller, Rasmus; Hay, Simon I; Hedayati, Mohammad T; Heredia-Pi, Ileana B; Hernandez, Lucia; Heuton, Kyle R; Heydarpour, Pouria; Hijar, Martha; Hoek, Hans W; Hoffman, Howard J; Hornberger, John C|info:eu-repo/dai/nl/304838993; Hosgood, H Dean; Hoy, Damian G; Hsairi, Mohamed; Hu, Guoqing; Hu, Howard; Huang, Cheng; Huang, John J; Hubbell, Bryan J; Huiart, Laetitia; Husseini, Abdullatif; Iannarone, Marissa L; Iburg, Kim M; Idrisov, Bulat T; Ikeda, Nayu; Innos, Kaire; Inoue, Manami; Islami, Farhad; Ismayilova, Samaya; Jacobsen, Kathryn H; Jansen, Henrica A; Jarvis, Deborah L; Jassal, Simerjot K; Jauregui, Alejandra; Jayaraman, Sudha; Jeemon, Panniyammakal; Jensen, Paul N; Jha, Vivekanand; Jiang, Fan; Jiang, Guohong; Jiang, Ying; Jonas, Jost B; Juel, Knud; Kan, Haidong; Roseline, Sidibe S Kany; Karam, Nadim E; Karch, André; Karema, Corine K; Karthikeyan, Ganesan; Kaul, Anil; Kawakami, Norito; Kazi, Dhruv S; Kemp, Andrew H; Kengne, Andre P; Keren, Andre; Khader, Yousef S; Khalifa, Shams Eldin Ali Hassan; Khan, Ejaz A; Khang, Young-Ho; Khatibzadeh, Shahab; Khonelidze, Irma; Kieling, Christian; Kim, Daniel; Kim, Sungroul; Kim, Yunjin; Kimokoti, Ruth W; Kinfu, Yohannes; Kinge, Jonas M; Kissela, Brett M; Kivipelto, Miia; Knibbs, Luke D; Knudsen, Ann Kristin; Kokubo, Yoshihiro; Kose, M Rifat; Kosen, Soewarta; Kraemer, Alexander; Kravchenko, Michael; Krishnaswami, Sanjay; Kromhout, Hans|info:eu-repo/dai/nl/074385224; Ku, Tiffany; Defo, Barthelemy Kuate; Bicer, Burcu Kucuk; Kuipers, Ernst J; Kulkarni, Chanda; Kulkarni, Veena S; Kumar, G Anil; Kwan, Gene F; Lai, Taavi; Balaji, Arjun Lakshmana; Lalloo, Ratilal; Lallukka, Tea; Lam, Hilton; Lan, Qing; Lansingh, Van C; Larson, Heidi J; Larsson, Anders; Laryea, Dennis O; Lavados, Pablo M; Lawrynowicz, Alicia E; Leasher, Janet L; Lee, Jong-Tae; Leigh, James; Leung, Ricky; Levi, Miriam; Li, Yichong; Li, Yongmei; Liang, Juan; Liang, Xiaofeng; Lim, Stephen S; Lindsay, M Patrice; Lipshultz, Steven E; Liu, Shiwei; Liu, Yang; Lloyd, Belinda K; Logroscino, Giancarlo; London, Stephanie J; Lopez, Nancy; Lortet-Tieulent, Joannie; Lotufo, Paulo A; Lozano, Rafael; Lunevicius, Raimundas; Ma, Jixiang; Ma, Stefan; Machado, Vasco M P; MacIntyre, Michael F; Magis-Rodriguez, Carlos; Mahdi, Abbas A; Majdan, Marek; Malekzadeh, Reza; Mangalam, Srikanth; Mapoma, Christopher C; Marape, Marape; Marcenes, Wagner; Margolis, David J; Margono, Christopher; Marks, Guy B; Martin, Randall V; Marzan, Melvin B; Mashal, Mohammad T; Masiye, Felix; Mason-Jones, Amanda J; Matsushita, Kunihiro; Matzopoulos, Richard; Mayosi, Bongani M; Mazorodze, Tasara T; McKay, Abigail C; McKee, Martin; McLain, Abigail; Meaney, Peter A; Medina, Catalina; Mehndiratta, Man Mohan; Mejia-Rodriguez, Fabiola; Mekonnen, Wubegzier; Melaku, Yohannes A; Meltzer, Michele; Memish, Ziad A; Mendoza, Walter; Mensah, George A; Meretoja, Atte; Mhimbira, Francis Apolinary; Micha, Renata; Miller, Ted R; Mills, Edward J; Misganaw, Awoke; Mishra, Santosh; Ibrahim, Norlinah Mohamed; Mohammad, Karzan A; Mokdad, Ali H; Mola, Glen L; Monasta, Lorenzo; Hernandez, Julio C Montañez; Montico, Marcella; Moore, Ami R; Morawska, Lidia; Mori, Rintaro; Moschandreas, Joanna; Moturi, Wilkister N; Mozaffarian, Dariush; Mueller, Ulrich O; Mukaigawara, Mitsuru; Mullany, Erin C; Murthy, Kinnari S; Naghavi, Mohsen; Nahas, Ziad; Naheed, Aliya; Naidoo, Kovin S; Naldi, Luigi; Nand, Devina; Nangia, Vinay; Narayan, Km Venkat; Nash, Denis; Neal, Bruce; Nejjari, Chakib; Neupane, Sudan P; Newton, Charles R; Ngalesoni, Frida N; de Dieu Ngirabega, Jean; Nguyen, Grant; Nguyen, Nhung T; Nieuwenhuijsen, Mark J; Nisar, Muhammad I; Nogueira, José R; Nolla, Joan M; Nolte, Sandra; Norheim, Ole F; Norman, Rosana E; Norrving, Bo; Nyakarahuka, Luke; Oh, In-Hwan; Ohkubo, Takayoshi; Olusanya, Bolajoko O; Omer, Saad B; Opio, John Nelson; Orozco, Ricardo; Pagcatipunan, Rodolfo S; Pain, Amanda W; Pandian, Jeyaraj D; Panelo, Carlo Irwin A; Papachristou, Christina; Park, Eun-Kee; Parry, Charles D; Caicedo, Angel J Paternina; Patten, Scott B; Paul, Vinod K; Pavlin, Boris I; Pearce, Neil; Pedraza, Lilia S; Pedroza, Andrea; Stokic, Ljiljana Pejin; Pekericli, Ayfer; Pereira, David M; Perez-Padilla, Rogelio; Perez-Ruiz, Fernando; Perico, Norberto; Perry, Samuel A L; Pervaiz, Aslam; Pesudovs, Konrad; Peterson, Carrie B; Petzold, Max; Phillips, Michael R; Phua, Hwee Pin; Plass, Dietrich; Poenaru, Dan; Polanczyk, Guilherme V; Polinder, Suzanne; Pond, Constance D; Pope, C Arden; Pope, Daniel; Popova, Svetlana; Pourmalek, Farshad; Powles, John; Prabhakaran, Dorairaj; Prasad, Noela M; Qato, Dima M; Quezada, Amado D; Quistberg, D Alex A; Racapé, Lionel; Rafay, Anwar; Rahimi, Kazem; Rahimi-Movaghar, Vafa; Rahman, Sajjad Ur; Raju, Murugesan; Rakovac, Ivo; Rana, Saleem M; Rao, Mayuree; Razavi, Homie; Reddy, K Srinath; Refaat, Amany H; Rehm, Jürgen; Remuzzi, Giuseppe; Ribeiro, Antonio L; Riccio, Patricia M; Richardson, Lee; Riederer, Anne; Robinson, Margaret; Roca, Anna; Rodriguez, Alina; Rojas-Rueda, David; Romieu, Isabelle; Ronfani, Luca; Room, Robin; Roy, Nobhojit; Ruhago, George M; Rushton, Lesley; Sabin, Nsanzimana; Sacco, Ralph L; Saha, Sukanta; Sahathevan, Ramesh; Sahraian, Mohammad Ali; Salomon, Joshua A; Salvo, Deborah; Sampson, Uchechukwu K; Sanabria, Juan R; Sanchez, Luz Maria; Sánchez-Pimienta, Tania G; Sanchez-Riera, Lidia; Sandar, Logan; Santos, Itamar S; Sapkota, Amir; Satpathy, Maheswar; Saunders, James E; Sawhney, Monika; Saylan, Mete I; Scarborough, Peter; Schmidt, Jürgen C; Schneider, Ione J C; Schöttker, Ben; Schwebel, David C; Scott, James G; Seedat, Soraya; Sepanlou, Sadaf G; Serdar, Berrin; Servan-Mori, Edson E; Shaddick, Gavin; Shahraz, Saeid; Levy, Teresa Shamah; Shangguan, Siyi; She, Jun; Sheikhbahaei, Sara; Shibuya, Kenji; Shin, Hwashin H; Shinohara, Yukito; Shiri, Rahman; Shishani, Kawkab; Shiue, Ivy; Sigfusdottir, Inga D; Silberberg, Donald H; Simard, Edgar P; Sindi, Shireen; Singh, Abhishek; Singh, Gitanjali M; Singh, Jasvinder A; Skirbekk, Vegard; Sliwa, Karen; Soljak, Michael; Soneji, Samir; Søreide, Kjetil; Soshnikov, Sergey; Sposato, Luciano A; Sreeramareddy, Chandrashekhar T; Stapelberg, Nicolas J C; Stathopoulou, Vasiliki; Steckling, Nadine; Stein, Dan J; Stein, Murray B; Stephens, Natalie; Stöckl, Heidi; Straif, Kurt; Stroumpoulis, Konstantinos; Sturua, Lela; Sunguya, Bruno F; Swaminathan, Soumya; Swaroop, Mamta; Sykes, Bryan L; Tabb, Karen M; Takahashi, Ken; Talongwa, Roberto T; Tandon, Nikhil; Tanne, David; Tanner, Marcel; Tavakkoli, Mohammad; Te Ao, Braden J; Teixeira, Carolina M; Téllez Rojo, Martha M; Terkawi, Abdullah S; Texcalac-Sangrador, José Luis; Thackway, Sarah V; Thomson, Blake; Thorne-Lyman, Andrew L; Thrift, Amanda G; Thurston, George D; Tillmann, Taavi; Tobollik, Myriam; Tonelli, Marcello; Topouzis, Fotis; Towbin, Jeffrey A; Toyoshima, Hideaki; Traebert, Jefferson; Tran, Bach X; Trasande, Leonardo; Trillini, Matias; Trujillo, Ulises; Dimbuene, Zacharie Tsala; Tsilimbaris, Miltiadis; Tuzcu, Emin Murat; Uchendu, Uche S; Ukwaja, Kingsley N; Uzun, Selen B; van de Vijver, Steven; Van Dingenen, Rita; van Gool, Coen H; van Os, Jim; Varakin, Yuri Y; Vasankari, Tommi J; Vasconcelos, Ana Maria N; Vavilala, Monica S; Veerman, Lennert J; Velasquez-Melendez, Gustavo; Venketasubramanian, N; Vijayakumar, Lakshmi; Villalpando, Salvador; Violante, Francesco S; Vlassov, Vasiliy Victorovich; Vollset, Stein Emil; Wagner, Gregory R; Waller, Stephen G; Wallin, Mitchell T; Wan, Xia; Wang, Haidong; Wang, JianLi; Wang, Linhong; Wang, Wenzhi; Wang, Yanping; Warouw, Tati S; Watts, Charlotte H; Weichenthal, Scott; Weiderpass, Elisabete; Weintraub, Robert G; Werdecker, Andrea; Wessells, K Ryan; Westerman, Ronny; Whiteford, Harvey A; Wilkinson, James D; Williams, Hywel C; Williams, Thomas N; Woldeyohannes, Solomon M; Wolfe, Charles D A; Wong, John Q; Woolf, Anthony D; Wright, Jonathan L; Wurtz, Brittany; Xu, Gelin; Yan, Lijing L; Yang, Gonghuan; Yano, Yuichiro; Ye, Pengpeng; Yenesew, Muluken; Yentür, Gökalp K; Yip, Paul; Yonemoto, Naohiro; Yoon, Seok-Jun; Younis, Mustafa Z; Younoussi, Zourkaleini; Yu, Chuanhua; Zaki, Maysaa E; Zhao, Yong; Zheng, Yingfeng; Zhou, Maigeng; Zhu, Jun; Zhu, Shankuan; Zou, Xiaonong; Zunt, Joseph R; Lopez, Alan D; Vos, Theo; Murray, Christopher J

    2015-01-01

    BACKGROUND: The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the first of a series of annual updates of the GBD. Risk factor quantification, particularly of modifiable risk factors, can help to identify emerging threats to population health and opportunities for

  7. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013 : A systematic analysis for the Global Burden of Disease Study 2013

    Forouzanfar, Mohammad H.; Alexander, Lily; Anderson, H. Ross; Bachman, Victoria F.; Biryukov, Stan; Brauer, Michael; Burnett, Richard; Casey, Daniel; Coates, Matthew M.; Cohen, Aaron; Delwiche, Kristen; Estep, Kara; Frostad, Joseph J.; Astha, K. C.; Kyu, Hmwe H.; Moradi-Lakeh, Maziar; Ng, Marie; Slepak, Erica Leigh; Thomas, Bernadette A.; Wagner, Joseph; Aasvang, Gunn Marit; Abbafati, Cristiana; Ozgoren, Ayse Abbasoglu; Abd-Allah, Foad; Abera, Semaw F.; Aboyans, Victor; Abraham, Biju; Abraham, Jerry Puthenpurakal; Abubakar, Ibrahim; Abu-Rmeileh, Niveen M. E.; Aburto, Tania C.; Achoki, Tom; Adelekan, Ademola; Adofo, Koranteng; Adou, Arsene K.; Adsuar, Jose C.; Afshin, Ashkan; Agardh, Emilie E.; Al Khabouri, Mazin J.; Al Lami, Faris H.; Alam, Sayed Saidul; Alasfoor, Deena; Albittar, Mohammed I.; Alegretti, Miguel A.; Aleman, Alicia V.; Alemu, Zewdie A.; Amare, Azmeraw T.; Gansevoort, Ron T.; Hoek, Hans W.; Liu, Yang

    2015-01-01

    Background The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the first of a series of annual updates of the GBD. Risk factor quantification, particularly of modifiable risk factors, can help to identify emerging threats to population health and opportunities for

  8. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013: a systematic analysis for the Global Burden of Disease Study 2013

    Forouzanfar, Mohammad H.; Alexander, Lily; Anderson, H. Ross; Bachman, Victoria F.; Biryukov, Stan; Brauer, Michael; Burnett, Richard; Casey, Daniel; Coates, Matthew M.; Cohen, Aaron; Delwiche, Kristen; Estep, Kara; Frostad, Joseph J.; Astha, K. C.; Kyu, Hmwe H.; Moradi-Lakeh, Maziar; Ng, Marie; Slepak, Erica Leigh; Thomas, Bernadette A.; Wagner, Joseph; Aasvang, Gunn Marit; Abbafati, Cristiana; Abbasoglu Ozgoren, Ayse; Abd-Allah, Foad; Abera, Semaw F.; Aboyans, Victor; Abraham, Biju; Abraham, Jerry Puthenpurakal; Abubakar, Ibrahim; Abu-Rmeileh, Niveen M. E.; Aburto, Tania C.; Achoki, Tom; Adelekan, Ademola; Adofo, Koranteng; Adou, Arsène K.; Adsuar, José C.; Afshin, Ashkan; Agardh, Emilie E.; Al Khabouri, Mazin J.; Al Lami, Faris H.; Alam, Sayed Saidul; Alasfoor, Deena; Albittar, Mohammed I.; Alegretti, Miguel A.; Aleman, Alicia V.; Alemu, Zewdie A.; Alfonso-Cristancho, Rafael; Alhabib, Samia; Ali, Raghib; Ali, Mohammed K.; Alla, François; Allebeck, Peter; Allen, Peter J.; Alsharif, Ubai; Alvarez, Elena; Alvis-Guzman, Nelson; Amankwaa, Adansi A.; Amare, Azmeraw T.; Ameh, Emmanuel A.; Ameli, Omid; Amini, Heresh; Ammar, Walid; Anderson, Benjamin O.; Antonio, Carl Abelardo T.; Anwari, Palwasha; Argeseanu Cunningham, Solveig; Arnlöv, Johan; Arsenijevic, Valentina S. Arsic; Artaman, Al; Asghar, Rana J.; Assadi, Reza; Atkins, Lydia S.; Atkinson, Charles; Avila, Marco A.; Awuah, Baffour; Badawi, Alaa; Bahit, Maria C.; Bakfalouni, Talal; Balakrishnan, Kalpana; Balalla, Shivanthi; Balu, Ravi Kumar; Banerjee, Amitava; Barber, Ryan M.; Barker-Collo, Suzanne L.; Barquera, Simon; Barregard, Lars; Barrero, Lope H.; Barrientos-Gutierrez, Tonatiuh; Basto-Abreu, Ana C.; Basu, Arindam; Basu, Sanjay; Basulaiman, Mohammed O.; Batis Ruvalcaba, Carolina; Beardsley, Justin; Bedi, Neeraj; Bekele, Tolesa; Bell, Michelle L.; Benjet, Corina; Bennett, Derrick A.; Benzian, Habib; Bernabé, Eduardo; Beyene, Tariku J.; Bhala, Neeraj; Bhalla, Ashish; Bhutta, Zulfiqar A.; Bikbov, Boris; Bin Abdulhak, Aref A.; Blore, Jed D.; Blyth, Fiona M.; Bohensky, Megan A.; Bora Başara, Berrak; Borges, Guilherme; Bornstein, Natan M.; Bose, Dipan; Boufous, Soufiane; Bourne, Rupert R.; Brainin, Michael; Brazinova, Alexandra; Breitborde, Nicholas J.; Brenner, Hermann; Briggs, Adam D. M.; Broday, David M.; Brooks, Peter M.; Bruce, Nigel G.; Brugha, Traolach S.; Brunekreef, Bert; Buchbinder, Rachelle; Bui, Linh N.; Bukhman, Gene; Bulloch, Andrew G.; Burch, Michael; Burney, Peter G. J.; Campos-Nonato, Ismael R.; Campuzano, Julio C.; Cantoral, Alejandra J.; Caravanos, Jack; Cárdenas, Rosario; Cardis, Elisabeth; Carpenter, David O.; Caso, Valeria; Castañeda-Orjuela, Carlos A.; Castro, Ruben E.; Catalá-López, Ferrán; Cavalleri, Fiorella; Çavlin, Alanur; Chadha, Vineet K.; Chang, Jung-Chen; Charlson, Fiona J.; Chen, Honglei; Chen, Wanqing; Chen, Zhengming; Chiang, Peggy P.; Chimed-Ochir, Odgerel; Chowdhury, Rajiv; Christophi, Costas A.; Chuang, Ting-Wu; Chugh, Sumeet S.; Cirillo, Massimo; Claßen, Thomas K. D.; Colistro, Valentina; Colomar, Mercedes; Colquhoun, Samantha M.; Contreras, Alejandra G.; Cooper, Cyrus; Cooperrider, Kimberly; Cooper, Leslie T.; Coresh, Josef; Courville, Karen J.; Criqui, Michael H.; Cuevas-Nasu, Lucia; Damsere-Derry, James; Danawi, Hadi; Dandona, Lalit; Dandona, Rakhi; Dargan, Paul I.; Davis, Adrian; Davitoiu, Dragos V.; Dayama, Anand; de Castro, E. Filipa; de la Cruz-Góngora, Vanessa; de Leo, Diego; de Lima, Graça; Degenhardt, Louisa; del Pozo-Cruz, Borja; Dellavalle, Robert P.; Deribe, Kebede; Derrett, Sarah; des Jarlais, Don C.; Dessalegn, Muluken; deVeber, Gabrielle A.; Devries, Karen M.; Dharmaratne, Samath D.; Dherani, Mukesh K.; Dicker, Daniel; Ding, Eric L.; Dokova, Klara; Dorsey, E. Ray; Driscoll, Tim R.; Duan, Leilei; Durrani, Adnan M.; Ebel, Beth E.; Ellenbogen, Richard G.; Elshrek, Yousef M.; Endres, Matthias; Ermakov, Sergey P.; Erskine, Holly E.; Eshrati, Babak; Esteghamati, Alireza; Fahimi, Saman; Faraon, Emerito Jose A.; Farzadfar, Farshad; Fay, Derek F. J.; Feigin, Valery L.; Feigl, Andrea B.; Fereshtehnejad, Seyed-Mohammad; Ferrari, Alize J.; Ferri, Cleusa P.; Flaxman, Abraham D.; Fleming, Thomas D.; Foigt, Nataliya; Foreman, Kyle J.; Paleo, Urbano Fra; Franklin, Richard C.; Gabbe, Belinda; Gaffikin, Lynne; Gakidou, Emmanuela; Gamkrelidze, Amiran; Gankpé, Fortuné G.; Gansevoort, Ron T.; García-Guerra, Francisco A.; Gasana, Evariste; Geleijnse, Johanna M.; Gessner, Bradford D.; Gething, Pete; Gibney, Katherine B.; Gillum, Richard F.; Ginawi, Ibrahim A. M.; Giroud, Maurice; Giussani, Giorgia; Goenka, Shifalika; Goginashvili, Ketevan; Gomez Dantes, Hector; Gona, Philimon; Gonzalez de Cosio, Teresita; González-Castell, Dinorah; Gotay, Carolyn C.; Goto, Atsushi; Gouda, Hebe N.; Guerrant, Richard L.; Gugnani, Harish C.; Guillemin, Francis; Gunnell, David; Gupta, Rahul; Gupta, Rajeev; Gutiérrez, Reyna A.; Hafezi-Nejad, Nima; Hagan, Holly; Hagstromer, Maria; Halasa, Yara A.; Hamadeh, Randah R.; Hammami, Mouhanad; Hankey, Graeme J.; Hao, Yuantao; Harb, Hilda L.; Haregu, Tilahun Nigatu; Haro, Josep Maria; Havmoeller, Rasmus; Hay, Simon I.; Hedayati, Mohammad T.; Heredia-Pi, Ileana B.; Hernandez, Lucia; Heuton, Kyle R.; Heydarpour, Pouria; Hijar, Martha; Hoek, Hans W.; Hoffman, Howard J.; Hornberger, John C.; Hosgood, H. Dean; Hoy, Damian G.; Hsairi, Mohamed; Hu, Guoqing; Hu, Howard; Huang, Cheng; Huang, John J.; Hubbell, Bryan J.; Huiart, Laetitia; Husseini, Abdullatif; Iannarone, Marissa L.; Iburg, Kim M.; Idrisov, Bulat T.; Ikeda, Nayu; Innos, Kaire; Inoue, Manami; Islami, Farhad; Ismayilova, Samaya; Jacobsen, Kathryn H.; Jansen, Henrica A.; Jarvis, Deborah L.; Jassal, Simerjot K.; Jauregui, Alejandra; Jayaraman, Sudha; Jeemon, Panniyammakal; Jensen, Paul N.; Jha, Vivekanand; Jiang, Fan; Jiang, Guohong; Jiang, Ying; Jonas, Jost B.; Juel, Knud; Kan, Haidong; Kany Roseline, Sidibe S.; Karam, Nadim E.; Karch, André; Karema, Corine K.; Karthikeyan, Ganesan; Kaul, Anil; Kawakami, Norito; Kazi, Dhruv S.; Kemp, Andrew H.; Kengne, Andre P.; Keren, Andre; Khader, Yousef S.; Khalifa, Shams Eldin Ali Hassan; Khan, Ejaz A.; Khang, Young-Ho; Khatibzadeh, Shahab; Khonelidze, Irma; Kieling, Christian; Kim, Daniel; Kim, Sungroul; Kim, Yunjin; Kimokoti, Ruth W.; Kinfu, Yohannes; Kinge, Jonas M.; Kissela, Brett M.; Kivipelto, Miia; Knibbs, Luke D.; Knudsen, Ann Kristin; Kokubo, Yoshihiro; Kose, M. Rifat; Kosen, Soewarta; Kraemer, Alexander; Kravchenko, Michael; Krishnaswami, Sanjay; Kromhout, Hans; Ku, Tiffany; Kuate Defo, Barthelemy; Kucuk Bicer, Burcu; Kuipers, Ernst J.; Kulkarni, Chanda; Kulkarni, Veena S.; Kumar, G. Anil; Kwan, Gene F.; Lai, Taavi; Lakshmana Balaji, Arjun; Lalloo, Ratilal; Lallukka, Tea; Lam, Hilton; Lan, Qing; Lansingh, Van C.; Larson, Heidi J.; Larsson, Anders; Laryea, Dennis O.; Lavados, Pablo M.; Lawrynowicz, Alicia E.; Leasher, Janet L.; Lee, Jong-Tae; Leigh, James; Leung, Ricky; Levi, Miriam; Li, Yichong; Li, Yongmei; Liang, Juan; Liang, Xiaofeng; Lim, Stephen S.; Lindsay, M. Patrice; Lipshultz, Steven E.; Liu, Shiwei; Liu, Yang; Lloyd, Belinda K.; Logroscino, Giancarlo; London, Stephanie J.; Lopez, Nancy; Lortet-Tieulent, Joannie; Lotufo, Paulo A.; Lozano, Rafael; Lunevicius, Raimundas; Ma, Jixiang; Ma, Stefan; Machado, Vasco M. P.; MacIntyre, Michael F.; Magis-Rodriguez, Carlos; Mahdi, Abbas A.; Majdan, Marek; Malekzadeh, Reza; Mangalam, Srikanth; Mapoma, Christopher C.; Marape, Marape; Marcenes, Wagner; Margolis, David J.; Margono, Christopher; Marks, Guy B.; Martin, Randall V.; Marzan, Melvin B.; Mashal, Mohammad T.; Masiye, Felix; Mason-Jones, Amanda J.; Matsushita, Kunihiro; Matzopoulos, Richard; Mayosi, Bongani M.; Mazorodze, Tasara T.; McKay, Abigail C.; McKee, Martin; McLain, Abigail; Meaney, Peter A.; Medina, Catalina; Mehndiratta, Man Mohan; Mejia-Rodriguez, Fabiola; Mekonnen, Wubegzier; Melaku, Yohannes A.; Meltzer, Michele; Memish, Ziad A.; Mendoza, Walter; Mensah, George A.; Meretoja, Atte; Mhimbira, Francis Apolinary; Micha, Renata; Miller, Ted R.; Mills, Edward J.; Misganaw, Awoke; Mishra, Santosh; Mohamed Ibrahim, Norlinah; Mohammad, Karzan A.; Mokdad, Ali H.; Mola, Glen L.; Monasta, Lorenzo; Montañez Hernandez, Julio C.; Montico, Marcella; Moore, Ami R.; Morawska, Lidia; Mori, Rintaro; Moschandreas, Joanna; Moturi, Wilkister N.; Mozaffarian, Dariush; Mueller, Ulrich O.; Mukaigawara, Mitsuru; Mullany, Erin C.; Murthy, Kinnari S.; Naghavi, Mohsen; Nahas, Ziad; Naheed, Aliya; Naidoo, Kovin S.; Naldi, Luigi; Nand, Devina; Nangia, Vinay; Narayan, K. M. Venkat; Nash, Denis; Neal, Bruce; Nejjari, Chakib; Neupane, Sudan P.; Newton, Charles R.; Ngalesoni, Frida N.; Ngirabega, Jean de Dieu; Nguyen, Grant; Nguyen, Nhung T.; Nieuwenhuijsen, Mark J.; Nisar, Muhammad I.; Nogueira, José R.; Nolla, Joan M.; Nolte, Sandra; Norheim, Ole F.; Norman, Rosana E.; Norrving, Bo; Nyakarahuka, Luke; Oh, In-Hwan; Ohkubo, Takayoshi; Olusanya, Bolajoko O.; Omer, Saad B.; Opio, John Nelson; Orozco, Ricardo; Pagcatipunan, Rodolfo S.; Pain, Amanda W.; Pandian, Jeyaraj D.; Panelo, Carlo Irwin A.; Papachristou, Christina; Park, Eun-Kee; Parry, Charles D.; Paternina Caicedo, Angel J.; Patten, Scott B.; Paul, Vinod K.; Pavlin, Boris I.; Pearce, Neil; Pedraza, Lilia S.; Pedroza, Andrea; Pejin Stokic, Ljiljana; Pekericli, Ayfer; Pereira, David M.; Perez-Padilla, Rogelio; Perez-Ruiz, Fernando; Perico, Norberto; Perry, Samuel A. L.; Pervaiz, Aslam; Pesudovs, Konrad; Peterson, Carrie B.; Petzold, Max; Phillips, Michael R.; Phua, Hwee Pin; Plass, Dietrich; Poenaru, Dan; Polanczyk, Guilherme V.; Polinder, Suzanne; Pond, Constance D.; Pope, C. Arden; Pope, Daniel; Popova, Svetlana; Pourmalek, Farshad; Powles, John; Prabhakaran, Dorairaj; Prasad, Noela M.; Qato, Dima M.; Quezada, Amado D.; Quistberg, D. Alex A.; Racapé, Lionel; Rafay, Anwar; Rahimi, Kazem; Rahimi-Movaghar, Vafa; Rahman, Sajjad Ur; Raju, Murugesan; Rakovac, Ivo; Rana, Saleem M.; Rao, Mayuree; Razavi, Homie; Reddy, K. Srinath; Refaat, Amany H.; Rehm, Jürgen; Remuzzi, Giuseppe; Ribeiro, Antonio L.; Riccio, Patricia M.; Richardson, Lee; Riederer, Anne; Robinson, Margaret; Roca, Anna; Rodriguez, Alina; Rojas-Rueda, David; Romieu, Isabelle; Ronfani, Luca; Room, Robin; Roy, Nobhojit; Ruhago, George M.; Rushton, Lesley; Sabin, Nsanzimana; Sacco, Ralph L.; Saha, Sukanta; Sahathevan, Ramesh; Sahraian, Mohammad Ali; Salomon, Joshua A.; Salvo, Deborah; Sampson, Uchechukwu K.; Sanabria, Juan R.; Sanchez, Luz Maria; Sánchez-Pimienta, Tania G.; Sanchez-Riera, Lidia; Sandar, Logan; Santos, Itamar S.; Sapkota, Amir; Satpathy, Maheswar; Saunders, James E.; Sawhney, Monika; Saylan, Mete I.; Scarborough, Peter; Schmidt, Jürgen C.; Schneider, Ione J. C.; Schöttker, Ben; Schwebel, David C.; Scott, James G.; Seedat, Soraya; Sepanlou, Sadaf G.; Serdar, Berrin; Servan-Mori, Edson E.; Shaddick, Gavin; Shahraz, Saeid; Levy, Teresa Shamah; Shangguan, Siyi; She, Jun; Sheikhbahaei, Sara; Shibuya, Kenji; Shin, Hwashin H.; Shinohara, Yukito; Shiri, Rahman; Shishani, Kawkab; Shiue, Ivy; Sigfusdottir, Inga D.; Silberberg, Donald H.; Simard, Edgar P.; Sindi, Shireen; Singh, Abhishek; Singh, Gitanjali M.; Singh, Jasvinder A.; Skirbekk, Vegard; Sliwa, Karen; Soljak, Michael; Soneji, Samir; Søreide, Kjetil; Soshnikov, Sergey; Sposato, Luciano A.; Sreeramareddy, Chandrashekhar T.; Stapelberg, Nicolas J. C.; Stathopoulou, Vasiliki; Steckling, Nadine; Stein, Dan J.; Stein, Murray B.; Stephens, Natalie; Stöckl, Heidi; Straif, Kurt; Stroumpoulis, Konstantinos; Sturua, Lela; Sunguya, Bruno F.; Swaminathan, Soumya; Swaroop, Mamta; Sykes, Bryan L.; Tabb, Karen M.; Takahashi, Ken; Talongwa, Roberto T.; Tandon, Nikhil; Tanne, David; Tanner, Marcel; Tavakkoli, Mohammad; te Ao, Braden J.; Teixeira, Carolina M.; Téllez Rojo, Martha M.; Terkawi, Abdullah S.; Texcalac-Sangrador, José Luis; Thackway, Sarah V.; Thomson, Blake; Thorne-Lyman, Andrew L.; Thrift, Amanda G.; Thurston, George D.; Tillmann, Taavi; Tobollik, Myriam; Tonelli, Marcello; Topouzis, Fotis; Towbin, Jeffrey A.; Toyoshima, Hideaki; Traebert, Jefferson; Tran, Bach X.; Trasande, Leonardo; Trillini, Matias; Trujillo, Ulises; Dimbuene, Zacharie Tsala; Tsilimbaris, Miltiadis; Tuzcu, Emin Murat; Uchendu, Uche S.; Ukwaja, Kingsley N.; Uzun, Selen B.; van de Vijver, Steven; van Dingenen, Rita; van Gool, Coen H.; van Os, Jim; Varakin, Yuri Y.; Vasankari, Tommi J.; Vasconcelos, Ana Maria N.; Vavilala, Monica S.; Veerman, Lennert J.; Velasquez-Melendez, Gustavo; Venketasubramanian, N.; Vijayakumar, Lakshmi; Villalpando, Salvador; Violante, Francesco S.; Vlassov, Vasiliy Victorovich; Vollset, Stein Emil; Wagner, Gregory R.; Waller, Stephen G.; Wallin, Mitchell T.; Wan, Xia; Wang, Haidong; Wang, JianLi; Wang, Linhong; Wang, Wenzhi; Wang, Yanping; Warouw, Tati S.; Watts, Charlotte H.; Weichenthal, Scott; Weiderpass, Elisabete; Weintraub, Robert G.; Werdecker, Andrea; Wessells, K. Ryan; Westerman, Ronny; Whiteford, Harvey A.; Wilkinson, James D.; Williams, Hywel C.; Williams, Thomas N.; Woldeyohannes, Solomon M.; Wolfe, Charles D. A.; Wong, John Q.; Woolf, Anthony D.; Wright, Jonathan L.; Wurtz, Brittany; Xu, Gelin; Yan, Lijing L.; Yang, Gonghuan; Yano, Yuichiro; Ye, Pengpeng; Yenesew, Muluken; Yentür, Gökalp K.; Yip, Paul; Yonemoto, Naohiro; Yoon, Seok-Jun; Younis, Mustafa Z.; Younoussi, Zourkaleini; Yu, Chuanhua; Zaki, Maysaa E.; Zhao, Yong; Zheng, Yingfeng; Zhou, Maigeng; Zhu, Jun; Zhu, Shankuan; Zou, Xiaonong; Zunt, Joseph R.; Lopez, Alan D.; Vos, Theo; Murray, Christopher J.

    2015-01-01

    Background The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the first of a series of annual updates of the GBD. Risk factor quantification, particularly of modifiable risk factors, can help to identify emerging threats to population health and opportunities for

  9. Global, regional, and national comparative risk assessment of 84 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990–2016: a systematic analysis for the Global Burden of Disease Study 2016

    Abajobir, Amanuel Alemu; Abate, Kalkidan Hassen; Abbafati, Cristiana; Abbas, Kaja M.; Abd-Allah, Foad; Abdulle, Abdishakur M.; Abera, Semaw Ferede; Aboyans, Victor; Abu-Raddad, Laith J.; Abu-Rmeileh, Niveen M E; Abyu, Gebre Yitayih; Adedeji, Isaac Akinkunmi; Adetokunboh, Olatunji; Afarideh, Mohsen; Afshin, Ashkan; Agrawal, Anurag; Agrawal, Sutapa; Ahmadieh, Hamid; Ahmed, Muktar Beshir; Aichour, Miloud Taki Eddine; Aichour, Amani Nidhal; Aichour, Ibtihel; Akinyemi, Rufus Olusola; Akseer, Nadia; Alahdab, Fares; Al-Aly, Ziyad; Alam, Khurshid; Alam, Noore; Alam, Tahiya; Alasfoor, Deena; Alene, Kefyalew Addis; Ali, Komal; Alizadeh-Navaei, Reza; Alkerwi, Ala'a; Alla, François; Allebeck, Peter; Al-Raddadi, Rajaa; Alsharif, Ubai; Altirkawi, Khalid A.; Alvis-Guzman, Nelson; Amare, Azmeraw T; Amini, Erfan; Ammar, Walid; Amoako, Yaw Ampem; Ansari, Hossein; Antó, Josep M.; Antonio, Carl Abelardo T; Anwari, Palwasha; Arian, Nicholas; Ärnlöv, Johan; Artaman, Al; Aryal, Krishna Kumar; Asayesh, Hamid; Asgedom, Solomon Weldegebreal; Atey, Tesfay Mehari; Avila-Burgos, Leticia; Avokpaho, Euripide Frinel G.Arthur; Awasthi, Ashish; Azzopardi, Peter; Bacha, Umar; Badawi, Alaa; Balakrishnan, Kalpana; Ballew, Shoshana H.; Barac, Aleksandra; Barber, Ryan M; Barker-Collo, Suzanne L; Bärnighausen, Till; Barquera, Simon; Barregard, Lars; Barrero, Lope H; Batis, Carolina; Battle, Katherine E.; Baumgarner, Blair R.; Baune, Bernhard T.; Beardsley, Justin; Bedi, Neeraj; Beghi, Ettore; Bell, Michelle L; Bennett, Derrick A; Bennett, James R.; Bensenor, Isabela M.; Berhane, Adugnaw; Berhe, Derbew Fikadu; Bernabé, Eduardo; Betsu, Balem Demtsu; Beuran, Mircea; Beyene, Addisu Shunu; Bhansali, Anil; Bhutta, Zulfiqar A; Bicer, Burcu Kucuk; Bikbov, Boris; Birungi, Charles; Biryukov, Stan; Blosser, Christopher D.; Boneya, Dube Jara; Bou-Orm, Ibrahim R.; Brauer, Michael; Breitborde, Nicholas J.K.; Brenner, Hermann; Brugha, Traolach S; Bulto, Lemma Negesa Bulto; Butt, Zahid A.; Cahuana-Hurtado, Lucero; Cárdenas, Rosario; Carrero, Juan Jesus; Castañeda-Orjuela, Carlos A; Catalá-López, Ferrán; Cercy, Kelly; Chang, Hsing Yi; Charlson, Fiona J; Chimed-Ochir, Odgerel; Chisumpa, Vesper Hichilombwe; Chitheer, Abdulaal A.; Christensen, Hanne; Christopher, Devasahayam Jesudas; Cirillo, Massimo; Cohen, Aaron J; Comfort, Haley; Cooper, Cyrus; Coresh, Josef; Cornaby, Leslie; Cortesi, Paolo Angelo; Criqui, Michael H; Crump, John A; Dandona, Lalit; Dandona, Rakhi; das Neves, José; Davey, Gail; Davitoiu, Dragos V; Davletov, Kairat; de Courten, Barbora; Defo, Barthelemy Kuate; Degenhardt, Louisa; Deiparine, Selina; Dellavalle, Robert P; Deribe, Kebede; Deshpande, Aniruddha; Dharmaratne, Samath D; Ding, Eric L; Djalalinia, Shirin; Do, Huyen Phuc; Dokova, Klara; Doku, David Teye; Donkelaar, Aaron van; Dorsey, E Ray; Driscoll, Tim R; Dubey, Manisha; Duncan, Bruce Bartholow; Duncan, Sarah; Ebrahimi, Hedyeh; El-Khatib, Ziad Ziad; Enayati, Ahmadali; Endries, Aman Yesuf; Ermakov, Sergey Petrovich; Erskine, Holly E; Eshrati, Babak; Eskandarieh, Sharareh; Esteghamati, Alireza; Estep, Kara; Faraon, Emerito Jose Aquino; Farinha, Carla Sofia e.Sa; Faro, André; Farzadfar, Farshad; Fay, Kairsten; Feigin, Valery L; Fereshtehnejad, Seyed-Mohammad; Fernandes, João C.; Ferrari, Alize J; Feyissa, Tesfaye Regassa; Filip, Irina; Fischer, Florian; Fitzmaurice, Christina; Flaxman, Abraham D; Foigt, Nataliya; Foreman, Kyle J; Frostad, Joseph J; Fullman, Nancy; Fürst, Thomas; Furtado, Joao M.; Gakidou, Emmanuela; Ganji, Morsaleh; Garcia-Basteiro, Alberto L.; Gebrehiwot, Tsegaye Tewelde; Geleijnse, Johanna M.; Geleto, Ayele; Gemechu, Bikila Lencha; Gesesew, Hailay Abrha; Gething, Peter W.; Ghajar, Alireza; Gibney, Katherine B; Gill, Paramjit Singh; Gillum, Richard F; Giref, Ababi Zergaw; Gishu, Melkamu Dedefo; Giussani, Giorgia; Godwin, William W.; Gona, Philimon N.; Goodridge, Amador; Gopalani, Sameer Vali; Goryakin, Yevgeniy; Goulart, Alessandra Carvalho; Graetz, Nicholas; Gugnani, Harish Chander; Guo, Jingwen; Gupta, Rajeev; Gupta, Tanush; Gupta, Vipin; Gutiérrez, Reyna A; Hachinski, Vladimir; Hafezi-Nejad, Nima; Hailu, Gessessew Bugssa; Hamadeh, Randah Ribhi; Hamidi, Samer; Hammami, Mouhanad; Handal, Alexis J.; Hankey, Graeme J.; Hanson, Sarah Wulf; Harb, Hilda L; Hareri, Habtamu Abera; Hassanvand, Mohammad Sadegh; Havmoeller, Rasmus; Hawley, Caitlin; Hay, Simon I; Hedayati, Mohammad T; Hendrie, Delia; Heredia-Pi, Ileana Beatriz; Hernandez, Julio Cesar Montañez; Hoek, Hans W; Horita, Nobuyuki; Hosgood, H. Dean; Hostiuc, Sorin; Hoy, Damian G; Hsairi, Mohamed; Hu, Guoqing; Huang, John J; Huang, Hsiang; Ibrahim, Norlinah Mohamed; Iburg, Kim Moesgaard; Ikeda, Chad; Inoue, Manami; Irvine, Caleb Mackay Salpeter; Jackson, Maria Delores; Jacobsen, Kathryn H; Jahanmehr, Nader; Jakovljevic, Mihajlo B.; Jauregui, Alejandra; Javanbakht, Mehdi; Jeemon, Panniyammakal; Johansson, Lars R.K.; Johnson, Catherine O.; Jonas, Jost B; Jürisson, Mikk; Kabir, Zubair; Kadel, Rajendra; Kahsay, Amaha; Kamal, Ritul; Karch, André; Karema, Corine Kakizi; Kasaeian, Amir; Kassebaum, Nicholas J.; Kastor, Anshul; Katikireddi, Srinivasa Vittal; Kawakami, Norito; Keiyoro, Peter Njenga; Kelbore, Sefonias Getachew; Kemmer, Laura; Kengne, Andre Pascal; Kesavachandran, Chandrasekharan Nair; Khader, Yousef Saleh; Khalil, Ibrahim A.; Khan, Ejaz Ahmad; Khang, Young-Ho; Khosravi, Ardeshir; Khubchandani, Jagdish; Kiadaliri, Aliasghar Ahmad; Kieling, Christian; Kim, Jun Y.; Kim, Yun Jin; Kim, Daniel; Kimokoti, Ruth W; Kinfu, Yohannes; Kisa, Adnan; Kissimova-Skarbek, Katarzyna A.; Kivimaki, Mika; Knibbs, Luke D; Knudsen, Ann Kristin; Kopec, Jacek A.; Kosen, Soewarta; Koul, Parvaiz A.; Koyanagi, Ai; Kravchenko, Michael; Krohn, Kristopher J.; Kromhout, Hans|info:eu-repo/dai/nl/074385224; Kumar, G Anil; Kutz, Michael; Kyu, Hmwe H; Lal, Dharmesh Kumar; Lalloo, Ratilal; Lallukka, Tea; Lan, Qing; Lansingh, Van C; Larsson, Anders; Lee, Paul H.; Lee, Alexander; Leigh, James; Leung, Janni; Levi, Miriam; Levy, Teresa Shamah; Li, Yichong; Li, Yongmei; Liang, Xiaofeng; Liben, Misgan Legesse; Lim, Stephen S; Linn, Shai; Liu, Patrick; Lodha, Rakesh; Logroscino, Giancarlo; Looker, Katherine J.; Lopez, Alan D; Lorkowski, Stefan; Lotufo, Paulo A; Lozano, Rafael; Lunevicius, Raimundas; Macarayan, Erlyn Rachelle King; Magdy Abd El Razek, Hassan; Magdy Abd El Razek, Mohammed; Majdan, Marek; Majdzadeh, Reza; Majeed, Azeem; Malekzadeh, Reza; Malhotra, Rajesh; Malta, Deborah Carvalho; Mamun, Abdullah A.; Manguerra, Helena; Mantovani, Lorenzo G.; Mapoma, Chabila C.; Martin, Randall V; Martinez-Raga, Jose; Martins-Melo, Francisco Rogerlândio; Mathur, Manu Raj; Matsushita, Kunihiro; Matzopoulos, Richard; Mazidi, Mohsen; McAlinden, Colm; McGrath, John W; Mehata, Suresh; Mehndiratta, Man Mohan; Meier, Toni; Melaku, Yohannes Adama; Memiah, Peter; Memish, Ziad A.; Mendoza, Walter; Mengesha, Melkamu Merid; Mensah, George A; Mensink, Gert B.M.; Mereta, Seid Tiku; Meretoja, Tuomo J.; Meretoja, Atte; Mezgebe, Haftay Berhane; Micha, Renata; Millear, Anoushka; Miller, Ted R; Minnig, Shawn; Mirarefin, Mojde; Mirrakhimov, Erkin M.; Misganaw, Awoke; Mishra, Shiva Raj; Mohammad, Karzan Abdulmuhsin; Mohammed, Kedir Endris; Mohammed, Shafiu; Mohan, Murali B.V.; Mokdad, Ali H; Monasta, Lorenzo; Montico, Marcella; Moradi-Lakeh, Maziar; Moraga, Paula; Morawska, Lidia; Morrison, Shane D.; Mountjoy-Venning, Cliff; Mueller, Ulrich O; Mullany, Erin C; Muller, Kate; Murray, Christopher J L; Murthy, Gudlavalleti Venkata Satyanarayana; Musa, Kamarul Imran; Naghavi, Mohsen; Naheed, Aliya; Nangia, Vinay; Natarajan, Gopalakrishnan; Negoi, Ruxandra Irina; Negoi, Ionut; Nguyen, Cuong Tat; Nguyen, Quyen Le; Nguyen, Trang Huyen; Nguyen, Grant; Nguyen, Minh Hao; Nichols, Emma; Ningrum, Dina Nur Anggraini; Nomura, Marika; Nong, Vuong Minh; Norheim, Ole F; Norrving, Bo; Noubiap, Jean Jacques N.; Obermeyer, Carla Makhlouf; Ogbo, Felix Akpojene; Oh, In-Hwan; Oladimeji, Olanrewaju; Olagunju, Andrew Toyin; Olagunju, Tinuke Oluwasefunmi; Olivares, Pedro R.; Olsen, Helen E.; Olusanya, Bolajoko Olubukunola; Olusanya, Jacob Olusegun; Opio, John Nelson; Oren, Eyal; Ortiz, Alberto; Ota, Erika; Owolabi, Mayowa O.; PA, Mahesh; Pacella, Rosana E.; Pana, Adrian; Panda, Basant Kumar; Panda-Jonas, Songhomitra; Pandian, Jeyaraj D; Papachristou, Christina; Park, Eun-Kee; Parry, Charles D; Patten, Scott B; Patton, George C.; Pereira, David M; Perico, Norberto; Pesudovs, Konrad; Petzold, Max; Phillips, Michael Robert; Pillay, Julian David; Piradov, Michael A.; Pishgar, Farhad; Plass, Dietrich; Pletcher, Martin A.; Polinder, Suzanne; Popova, Svetlana; Poulton, Richie G.; Pourmalek, Farshad; Prasad, Narayan; Purcell, Carrie; Qorbani, Mostafa; Radfar, Amir; Rafay, Anwar; Rahimi-Movaghar, Afarin; Rahimi-Movaghar, Vafa; Rahman, Mohammad Hifz Ur; Rahman, Muhammad Aziz; Rahman, Mahfuzar; Rai, Rajesh Kumar; Rajsic, Sasa; Ram, Usha; Rawaf, Salman; Rehm, Colin D.; Rehm, Jürgen; Reiner, Robert C.; Reitsma, Marissa B.; Remuzzi, Giuseppe; Renzaho, Andre M.N.; Resnikoff, Serge; Reynales-Shigematsu, Luz Myriam; Rezaei, Satar; Ribeiro, Antonio L; Rivera, Juan A.; Roba, Kedir Teji; Rojas-Rueda, David; Roman, Yesenia; Room, Robin; Roshandel, Gholamreza; Roth, Gregory A.; Rothenbacher, Dietrich; Rubagotti, Enrico; Rushton, Lesley; Sadat, Nafis; Safdarian, Mahdi; Safi, Sare; Safiri, Saeid; Sahathevan, Ramesh; Salama, Joseph; Salomon, Joshua A; Samy, Abdallah M.; Sanabria, Juan Ramon; Sanchez-Niño, Maria Dolores; Sánchez-Pimienta, Tania G; Santomauro, Damian; Santos, Itamar S; Santric Milicevic, Milena M.; Sartorius, Benn; Satpathy, Maheswar; Sawhney, Monika; Saxena, Sonia; Schmidt, Maria Inês; Schneider, Ione J C; Schutte, Aletta E.; Schwebel, David C; Schwendicke, Falk; Seedat, Soraya; Sepanlou, Sadaf G; Serdar, Berrin; Servan-Mori, Edson E; Shaddick, Gavin; Shaheen, Amira; Shahraz, Saeid; Shaikh, Masood Ali; Shamsipour, Mansour; Shamsizadeh, Morteza; Shariful Islam, Sheikh Mohammed; Sharma, Jayendra; Sharma, Rajesh; She, Jun; Shen, Jiabin; Shi, Peilin; Shibuya, Kenji; Shields, Chloe; Shiferaw, Mekonnen Sisay; Shigematsu, Mika; Shin, Min Jeong; Shiri, Rahman; Shirkoohi, Reza; Shishani, Kawkab; Shoman, Haitham; Shrime, Mark G.; Sigfusdottir, Inga Dora; Silva, Diego Augusto Santos; Silva, João Pedro; Silveira, Dayane Gabriele Alves; Singh, Jasvinder A; Singh, Virendra; Sinha, Dhirendra Narain; Skiadaresi, Eirini; Slepak, Erica Leigh; Smith, David L.; Smith, Mari; Sobaih, Badr H.A.; Sobngwi, Eugene; Soneji, Samir; Sorensen, Reed J.D.; Sposato, Luciano A; Sreeramareddy, Chandrashekhar T; Srinivasan, Vinay; Steel, Nicholas; Stein, Dan J.; Steiner, Caitlyn; Steinke, Sabine; Stokes, Mark Andrew; Strub, Bryan; Subart, Michelle; Sufiyan, Muawiyyah Babale; Suliankatchi, Rizwan Abdulkader; Sur, Patrick J.; Swaminathan, Soumya; Sykes, Bryan L; Szoeke, Cassandra E.I.; Tabarés-Seisdedos, Rafael; Tadakamadla, Santosh Kumar; Takahashi, Ken; Takala, Jukka S.; Tandon, Nikhil; Tanner, Marcel; Tarekegn, Yihunie L.; Tavakkoli, Mohammad; Tegegne, Teketo Kassaw; Tehrani-Banihashemi, Arash; Terkawi, Abdullah Sulieman; Tesssema, Belay; Thakur, J. S.; Thamsuwan, Ornwipa; Thankappan, Kavumpurathu Raman; Theis, Andrew M.; Thomas, Matthew Lloyd; Thomson, Alan J.; Thrift, Amanda G; Tillmann, Taavi; Tobe-Gai, Ruoyan; Tobollik, Myriam; Tollanes, Mette C.; Tonelli, Marcello; Topor-Madry, Roman; Torre, Anna; Tortajada, Miguel; Touvier, Mathilde; Tran, Bach Xuan; Truelsen, Thomas; Tuem, Kald Beshir; Tuzcu, Emin Murat; Tyrovolas, Stefanos; Ukwaja, Kingsley Nnanna; Uneke, Chigozie Jesse; Updike, Rachel; Uthman, Olalekan A.; van Boven, Job F.M.; Varughese, Santosh; Vasankari, Tommi J; Veerman, Lennert J; Venkateswaran, Vidhya; Venketasubramanian, Narayanaswamy; Violante, Francesco S; Vladimirov, Sergey K.; Vlassov, Vasiliy Victorovich; Vollset, Stein Emil; Vos, Theo; Wadilo, Fiseha; Wakayo, Tolassa; Wallin, Mitchell T; Wang, Yuan Pang; Weichenthal, Scott; Weiderpass, Elisabete; Weintraub, Robert G; Weiss, Daniel J.; Werdecker, Andrea; Westerman, Ronny; Whiteford, Harvey A; Wiysonge, Charles Shey; Woldeyes, Belete Getahun; Wolfe, Charles D A; Woodbrook, Rachel; Workicho, Abdulhalik; Xavier, Denis; Xu, Gelin; Yadgir, Simon; Yakob, Bereket; Yan, Lijing L; Yaseri, Mehdi; Yimam, Hassen Hamid; Yip, Paul; Yonemoto, Naohiro; Yoon, Seok-Jun; Yotebieng, Marcel; Younis, Mustafa Z; Zaidi, Zoubida; Zaki, Maysaa El Sayed; Zavala-Arciniega, Luis; Zhang, Xueying; Zimsen, Stephanie Raman M.; Zipkin, Ben; Zodpey, Sanjay

    2017-01-01

    Background The Global Burden of Diseases, Injuries, and Risk Factors Study 2016 (GBD 2016) provides a comprehensive assessment of risk factor exposure and attributable burden of disease. By providing estimates over a long time series, this study can monitor risk exposure trends critical to health

  10. Global, regional, and national comparative risk assessment of 84 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990–2016: a systematic analysis for the Global Burden of Disease Study 2016

    Gakidou, Emmanuela; Geleijnse, J.M.

    2017-01-01

    Background
    The Global Burden of Diseases, Injuries, and Risk Factors Study 2016 (GBD 2016) provides a comprehensive assessment of risk factor exposure and attributable burden of disease. By providing estimates over a long time series, this study can monitor risk exposure trends critical to

  11. Global, regional, and national comparative risk assessment of 84 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990-2016 : a systematic analysis for the Global Burden of Disease Study 2016

    Gakidou, Emmanuela; Afshin, Ashkan; Abajobir, Amanuel Alemu; Abate, Kalkidan Hassen; Abbafati, Cristiana; Abbas, Kaja M.; Abd-Allah, Foad; Abdulle, Abdishakur M.; Abera, Semaw Ferede; Aboyans, Victor; Abu-Raddad, Laith J.; Abu-Rmeileh, Niveen M. E.; Abyu, Gebre Yitayih; Adedeji, Isaac Akinkunmi; Adetokunboh, Olatunji; Afarideh, Mohsen; Agrawal, Anurag; Agrawal, Sutapa; Kiadaliri, Aliasghar Ahmad; Ahmadieh, Hamid; Ahmed, Muktar Beshir; Aichour, Amani Nidhal; Aichour, Ibtihel; Aichour, Miloud Taki Eddine; Akinyemi, Rufus Olusola; Akseer, Nadia; Alahdab, Fares; Al-Aly, Ziyad; Alam, Khurshid; Alam, Noore; Alam, Tahiya; Alasfoor, Deena; Alene, Kefyalew Addis; Ali, Komal; Alizadeh-Navaei, Reza; Alkerwi, Ala'a; Alla, Francois; Allebeck, Peter; Al-Raddadi, Rajaa; Alsharif, Ubai; Altirkawi, Khalid A.; Alvis-Guzman, Nelson; Amare, Azmeraw T.; Amini, Erfan; Ammar, Walid; Amoako, Yaw Ampem; Ansari, Hossein; Berhe, Derbew Fikadu; Hoek, Hans W.; van Boven, Job F. M.

    2017-01-01

    Background The Global Burden of Diseases, Injuries, and Risk Factors Study 2016 (GBD 2016) provides a comprehensive assessment of risk factor exposure and attributable burden of disease. By providing estimates over a long time series, this study can monitor risk exposure trends critical to health

  12. Modulators of mercury risk to wildlife and humans in the context of rapid global change

    Eagles-Smith, Collin A.; Silbergeld, Ellen K.; Basu, Niladri; Bustamante, Paco; Diaz-Barriga, Fernando; Hopkins, William A.; Kidd, Karen A.; Nyland, Jennifer F.

    2018-01-01

    Environmental mercury (Hg) contamination is an urgent global health threat. The complexity of Hg in the environment can hinder accurate determination of ecological and human health risks, particularly within the context of the rapid global changes that are altering many ecological processes, socioeconomic patterns, and other factors like infectious disease incidence, which can affect Hg exposures and health outcomes. However, the success of global Hg-reduction efforts depends on accurate assessments of their effectiveness in reducing health risks. In this paper, we examine the role that key extrinsic and intrinsic drivers play on several aspects of Hg risk to humans and organisms in the environment. We do so within three key domains of ecological and human health risk. First, we examine how extrinsic global change drivers influence pathways of Hg bioaccumulation and biomagnification through food webs. Next, we describe how extrinsic socioeconomic drivers at a global scale, and intrinsic individual-level drivers, influence human Hg exposure. Finally, we address how the adverse health effects of Hg in humans and wildlife are modulated by a range of extrinsic and intrinsic drivers within the context of rapid global change. Incorporating components of these three domains into research and monitoring will facilitate a more holistic understanding of how ecological and societal drivers interact to influence Hg health risks.

  13. INFORMATION SECURITY: Strengthened Management Needed to Protect Critical Federal Operations and Assets

    Dodaro, Gene

    1998-01-01

    .... Our most recent report, done at the request of this Committee, delineates the serious information security weaknesses placing critical operations and assets at risk and outlines actions needed...

  14. Risiko Likuiditas Bank dan Asset Liabilities Management

    Lesmana, Iwan

    2007-01-01

    Uquidity is of critical importance to companies in the banking services sector. Most failures of financialintermediaries have occured in large part due to insufficient liquidity resulting from adverse circumstances.Goldman Sachs has in piace a comprehensive set of liquidity and funding policies that are intended tomaintain significant flexibility to address specific and broader industry or market liquidity events.In asset liabilities mal1agement or liquidity management, liquidity risk is mana...

  15. Efficiently Inefficient Markets for Assets and Asset Management

    Garleanu, Nicolae; Pedersen, Lasse Heje

    We consider a model where investors can invest directly or search for an asset manager, information about assets is costly, and managers charge an endogenous fee. The efficiency of asset prices is linked to the efficiency of the asset management market: if investors can find managers more easily......, more money is allocated to active management, fees are lower, and asset prices are more efficient. Informed managers outperform after fees, uninformed managers underperform after fees, and the net performance of the average manager depends on the number of "noise allocators." Small investors should...... be passive, but large and sophisticated investors benefit from searching for informed active managers since their search cost is low relative to capital. Hence, managers with larger and more sophisticated investors are expected to outperform....

  16. Asset allocation using option-implied moments

    Bahaludin, H.; Abdullah, M. H.; Tolos, S. M.

    2017-09-01

    This study uses an option-implied distribution as the input in asset allocation. The computation of risk-neutral densities (RND) are based on the Dow Jones Industrial Average (DJIA) index option and its constituents. Since the RNDs estimation does not incorporate risk premium, the conversion of RND into risk-world density (RWD) is required. The RWD is obtained through parametric calibration using the beta distributions. The mean, volatility, and covariance are then calculated to construct the portfolio. The performance of the portfolio is evaluated by using portfolio volatility and Sharpe ratio.

  17. Nuclear industry strategic asset management: Managing nuclear assets in a competitive environment

    Mueller, H.; Hunt, E.W. Jr.; Oatman, E.N.

    1999-01-01

    The former Electric Power Research Institute took the lead in developing an approach now widely known as strategic asset management (SAM). The SAM methodology applies the tools of decision/risk analysis used in the financial community to clarify effective use of physical assets and resources to create value: to build a clear line of sight to value creation. SAM processes have been used in both the power and other industries. The rapid change taking place in the nuclear business creates the need for competitive decision making regarding the management of nuclear assets. The nuclear industry is moving into an era in which shareholder value is determined by the net revenues earned on power marketed in a highly competitive and frequently low-priced power market environment

  18. Global Risks as Factors that Affect the Current system of international Relations

    Irina A. Zaitseva

    2017-01-01

    Full Text Available The problem of the globalization of risks is examined in this article. Based on the World Economic Forum (WEF report on global risks 2015-2017, the impact of global risks on the social and economic development of countries is examined. Economic, social, environmental, geopolitical, technological risks are analyzed in a coordinated fashion. The article notes that the main risks are in the field of environment and ecology. Anthropogenic pressure amplification, scientific and technological advance have an influence on the natural environment. The risks of infrastructure and environmental damage in danger zone are increased because of the growth of the frequency of extreme weather events. The measures for the protection of the environment are examined. The unilateral approach to solving international issues, instead of the collective efforts of the international community; the deployment of weapons of mass destruction (nuclear, chemical, biological and technologies for the production of radioactive materials; escalation of economic and resource nationalization (the desire of States to expropriate or restrict the export of important for the world economy of resources, etc. promote the increasing geopolitical risks.Economic risks include the risk in terms of their likelihood their impact on the macroeconomic, as from the financial systems and infrastructure to price volatility and regulatory issues. Social risks are the risks relating to instability of population dynamics, social crises and human survival.Technological risks include such problems as software defects, failure of important information systems, upon which today industrial production is depended, the services and communications sector; the escalation of large-scale cyber-attacks; theft of electronic information and the illegal usage of personal data. The trends that can intensify the global risks or to change the correlation between them are analyzed in this article.

  19. Global distribution and drivers of language extinction risk

    Amano, Tatsuya; Sandel, Brody Steven; Eager, Heidi

    2014-01-01

    latitudes and are strongly linked to high economic growth. Threatened languages are numerous in the tropics, the Himalayas and northwestern North America. These results indicate that small-population languages remaining in economically developed regions are seriously threatened by continued speaker declines....... However, risks of future language losses are especially high in the tropics and in the Himalayas, as these regions harbour many small-population languages and are undergoing rapid economic growth....

  20. Chemical Risk Assessment Screening Tool of a Global Chemical Company

    Evelyn Tjoe-Nij; Christophe Rochin; Nathalie Berne; Alessandro Sassi; Antoine Leplay

    2018-01-01

    Background: This paper describes a simple-to-use and reliable screening tool called Critical Task Exposure Screening (CTES), developed by a chemical company. The tool assesses if the exposure to a chemical for a task is likely to be within acceptable levels. Methods: CTES is a Microsoft Excel tool, where the inhalation risk score is calculated by relating the exposure estimate to the corresponding occupational exposure limit (OEL) or occupational exposure band (OEB). The inhalation exposure i...

  1. Chemical Risk Assessment Screening Tool of a Global Chemical Company

    Evelyn Tjoe-Nij

    2018-03-01

    Full Text Available Background: This paper describes a simple-to-use and reliable screening tool called Critical Task Exposure Screening (CTES, developed by a chemical company. The tool assesses if the exposure to a chemical for a task is likely to be within acceptable levels. Methods: CTES is a Microsoft Excel tool, where the inhalation risk score is calculated by relating the exposure estimate to the corresponding occupational exposure limit (OEL or occupational exposure band (OEB. The inhalation exposure is estimated for tasks by preassigned ART1.5 activity classes and modifying factors. Results: CTES requires few inputs. The toxicological data, including OELs, OEBs, and vapor pressure are read from a database. Once the substance is selected, the user specifies its concentration and then chooses the task description and its duration. CTES has three outputs that may trigger follow-up: (1 inhalation risk score; (2 identification of the skin hazard with the skin warnings for local and systemic adverse effects; and (3 status for carcinogenic, mutagenic, or reprotoxic effects. Conclusion: The tool provides an effective way to rapidly screen low-concern tasks, and quickly identifies certain tasks involving substances that will need further review with, nevertheless, the appropriate conservatism. This tool shows that the higher-tier ART1.5 inhalation exposure assessment model can be included effectively in a screening tool. After 2 years of worldwide extensive use within the company, CTES is well perceived by the users, including the shop floor management, and it fulfills its target of screening tool. Keywords: occupational exposure, risk assessment, risk management

  2. Global Amphibian Extinction Risk Assessment for the Panzootic Chytrid Fungus

    Rödder, Dennis; Kielgast, Jos; Bielby, Jon; Schmidtlein, Sebastian; Bosch, Jaime; Garner, Trenton W. J.; Veith, Michael; Walker, Susan; Fisher, Matthew C.; Lötters, Stefan

    2009-01-01

    Species are being lost at increasing rates due to anthropogenic effects, leading to the recognition that we are witnessing the onset of a sixth mass extinction. Emerging infectious disease has been shown to increase species loss and any attempts to reduce extinction rates need to squarely confront this challenge. Here, we develop a procedure for identifying amphibian species that are most at risk from the effects of chytridiomycosis by combining spatial analyses of key host life-history varia...

  3. Melodie: A global risk assessment model for radioactive waste repositories

    Lewi, J.; Assouline, M.; Bareau, J.; Raimbault, P.

    1987-03-01

    The Institute of Protection and Nuclear Safety (IPSN), which is part of the French Atomic Energy Commission (C.E.A.) develops since 1984 in collaboration with different groups inside and outside the C.E.A. a computer model for risk assessment of nuclear waste repositories in deep geological formations. The main characteristics of the submodels, the data processing structure and some examples of applications are presented

  4. Managing assets in the infrastructure sector

    van Houten, T.P.; Zhang, L.

    2010-01-01

    In view of the importance of managing assets and the lack of research in managing assets in the infrastructure sector, we develop an asset management model in this study. This model is developed in line with the unique characteristics of the infrastructure assets and asset management principles and

  5. Asset management: the big picture.

    Deinstadt, Deborah C

    2005-10-01

    To develop an comprehensive asset management plan, you need, first of all, to understand the asset management continuum. A key preliminary step is to thoroughly assess the existing equipment base. A critical objective is to ensure that there are open lines of communication among the teams charged with managing the plan's various phases.

  6. A Theoretical Assessment on Optimal Asset Allocations in Insurance Industry

    Bilel Jarraya

    2013-10-01

    Full Text Available In recent years the financial markets known a rapid development and become more and more complex. So, many regulatory requirements, focused on banks as well as insurance sector, have been developed. These regulatory are concentrated essentially on business risk control and required capital to cover risks. These requirements have influenced the asset allocation issue in insurance industry. These requirements have influenced the asset allocation issue in insurance industry. This section is interested by this issue. In first time it highlights some research works in this issue. Then we will investigate the relation between Solvency and optimal asset allocation. Finally we will explore the principal used methods in modeling asset and in choosing the optimal portfolio composition.

  7. Cyber Terrorism demands a Global Risks and Threats Strategic Management

    Gareva, R.

    2007-01-01

    The world is in the third wave of development, which is digital managed and networked. Information, which creates the knowledge is transferring thorough the Internet by exponential function. The rapid advancement of the computer technology has a great influence over the development of the critical information infrastructure, thus changing the safety environment and the national values and interests. This advancement produces threats and risks from computer perspective which are sublimated in different forms of international terrorism and particularly in cyber terrorism. The main aim of this paper is based on a thorough analysis of what is scientifically known and practiced when nowadays critical information infrastructure is in the focus of the cyber terrorism. The rapid IT development demands changes in the strategic management focus. As a result of a time-consuming theoretical and empirical research this paper suggests a methodology for strategic managing of: threats, risks and vulnerabilities. The proposed methodology is seen as a mean to increase the human security conscious in every sense of the word, and to promote the need for rules, procedures and standards establishment from the aspect of the strategic management in the new information epoch concerning. In addition, through a scientific discourse, a short attempt is made to relate Macedonian reality with the phenomenon mentioned above. The most fundamental set phrase is that the efficiency and promptly made decisions during strategic planning are a projection of the systematic organization of functions and models for managing the risks and threats of the critical information infrastructure. Hence, this paper could be seen as a perspective when taking in consideration the regional strategic management, and the cyber space vital functioning. (author)

  8. RISK MANAGEMENT IN LENDING INSTITUTIONS IN THE CONTEXT OF ECONOMIC GLOBALIZATION

    BOGHEAN FLORIN

    2014-05-01

    Full Text Available The Romanian companies are nowadays facing process of extinction of decisions based on risk and uncertainty, as a consequence of the permanent transforming process of the economy and because of the privatization, restructuring and globalization activities. The main forms of risk are can be grouped in eight categories: economical risks, financial risks, commercial risks, manufacturing risks, political risks, social risks, juridical risks, natural risks. Through its nature the decision is referring to the future, mainly being provisional. In any decisional process developed at the company level, there are involved in the same time some economical, techniques, juridical, human and managerial variables. The economic recession generated by the chaos affecting financial systems has profoundly distressed the public, business circles and political leaders. The crisis has inexorably had negative effects on global economic growth and will have political, strategic and social consequences as well. The contents of this paper encompasses theoretical and practical aspects, quantitative and qualitative analyses, all aimed at identifying, analysing and controlling bank risks and, last but not least, at managing these risks.

  9. Modeling and Managing the Risks of Measles and Rubella: A Global Perspective, Part I.

    Thompson, Kimberly M; Cochi, Stephen L

    2016-07-01

    Over the past 50 years, the use of vaccines led to significant decreases in the global burdens of measles and rubella, motivated at least in part by the successive development of global control and elimination targets. The Global Vaccine Action Plan (GVAP) includes specific targets for regional elimination of measles and rubella in five of six regions of the World Health Organization by 2020. Achieving the GVAP measles and rubella goals will require significant immunization efforts and associated financial investments and political commitments. Planning and budgeting for these efforts can benefit from learning some important lessons from the Global Polio Eradication Initiative (GPEI). Following an overview of the global context of measles and rubella risks and discussion of lessons learned from the GPEI, we introduce the contents of the special issue on modeling and managing the risks of measles and rubella. This introduction describes the synthesis of the literature available to support evidence-based model inputs to support the development of an integrated economic and dynamic disease transmission model to support global efforts to optimally manage these diseases globally using vaccines. © 2016 Society for Risk Analysis.

  10. Global timber investments, wood costs, regulation, and risk

    Cubbage, Frederick; Koesbandana, Sadharga; Gonzalez, Ronalds; Carrero, Omar; MacIntyre, Charles; Abt, Robert; Phillips, Richard; Mac Donagh, Patricio; Rubilar, Rafael; Balmelli, Gustavo; Olmos, Virginia Morales; De La Torre, Rafael; Murara, Mauro; Hoeflich, Vitor Afonso; Kotze, Heynz; Frey, Gregory; Adams, Thomas; Turner, James; Lord, Roger; Huang, Jin; McGinley, Kathleen

    2010-01-01

    We estimated financial returns and wood production costs in 2008 for the primary timber plantation species. Excluding land costs, returns for exotic plantations in almost all of South America - Brazil, Argentina, Uruguay, Chile, Colombia, Venezuela, and Paraguay - were substantial. Eucalyptus species returns were generally greater than those for Pinus species in each country, with most having Internal Rates of Return (IRRs) of 20% per year or more, as did teak. Pinus species in South America were generally closer to 15%, except in Argentina, where they were 20%. IRRs were less, but still attractive for plantations of coniferous or deciduous species in China, South Africa, New Zealand, Indonesia, and the United States, ranging from 7% to 12%. Costs of wood production at the cost of capital of 8% per year were generally cheapest for countries with high rates of return and for pulpwood fiber production, which would favor vertically integrated firms in Latin America. But wood costs at stumpage market prices were much greater, making net wood costs for open market wood more similar among countries. In the Americas, Chile and Brazil had the most regulatory components of sustainable forest management, followed by Misiones, Argentina and Oregon in the U.S. New Zealand, the United States, and Chile had the best rankings regarding risk from political, commercial, war, or government actions and for the ease of doing business. Conversely, Venezuela, Indonesia, Colombia, and Argentina had high risk ratings, and Brazil, Indonesia, and Venezuela were ranked as more difficult countries for ease of business. (author)

  11. Global timber investments, wood costs, regulation, and risk

    Cubbage, Frederick; Koesbandana, Sadharga; Gonzalez, Ronalds; Carrero, Omar; MacIntyre, Charles; Abt, Robert; Phillips, Richard [Forestry and Environmental Resources, North Carolina State University, Raleigh, NC (United States); Mac Donagh, Patricio [Universidad Nacional de Misiones (UNAM), Lisandro de la Torre s/n, CP 3380, Eldorado, Misiones (Argentina); Rubilar, Rafael [Universidad de Concepcion, Victoria 631, Casilla 160-C - Correo 3, Concepcion (Chile); Balmelli, Gustavo [Instituto Nacional de Investigacion Agropecuria, INIA Tacuarembo, Ruta 5, Km 386, Tacuarembo (Uruguay); Olmos, Virginia Morales [Weyerhaeuser Company, La Rosa 765, Melo (Uruguay); De La Torre, Rafael [CellFor, 247 Davis Street, Athens, GA (United States); Murara, Mauro [Universidade do Contestado, R. Joaquim Nabuco, 314 Bairro Cidade Nova, Porto Uniao, Santa Catarina (Brazil); Hoeflich, Vitor Afonso [Universidade Federal do Parana, Av. Pref. Lothario Meissner, 900, 80210-170, Jardim Botanico, Curitiba, Parana (Brazil); Kotze, Heynz [Komatiland Forests (Pty) Ltd, P.O. Box 14228, Nelspruit (South Africa); Frey, Gregory [World Bank, 1818 H. Street NW, Washington, DC (United States); Adams, Thomas; Turner, James [New Zealand Forest Research Institute Ltd., Scion, 49 Sala St., Rotorua (New Zealand); Lord, Roger [Mason, Bruce, and Girard, Inc., 707 SW Washington St., Portland, Oregon (United States); Huang, Jin [Abt Associates, 4550 Montgomery Avenue, Bethesda, MD (United States); McGinley, Kathleen [International Institute of Tropical Forestry, USDA Forest Service, c/o 920 Main Campus Dr. Suite 300, Raleigh, NC (United States)

    2010-12-15

    We estimated financial returns and wood production costs in 2008 for the primary timber plantation species. Excluding land costs, returns for exotic plantations in almost all of South America - Brazil, Argentina, Uruguay, Chile, Colombia, Venezuela, and Paraguay - were substantial. Eucalyptus species returns were generally greater than those for Pinus species in each country, with most having Internal Rates of Return (IRRs) of 20% per year or more, as did teak. Pinus species in South America were generally closer to 15%, except in Argentina, where they were 20%. IRRs were less, but still attractive for plantations of coniferous or deciduous species in China, South Africa, New Zealand, Indonesia, and the United States, ranging from 7% to 12%. Costs of wood production at the cost of capital of 8% per year were generally cheapest for countries with high rates of return and for pulpwood fiber production, which would favor vertically integrated firms in Latin America. But wood costs at stumpage market prices were much greater, making net wood costs for open market wood more similar among countries. In the Americas, Chile and Brazil had the most regulatory components of sustainable forest management, followed by Misiones, Argentina and Oregon in the U.S. New Zealand, the United States, and Chile had the best rankings regarding risk from political, commercial, war, or government actions and for the ease of doing business. Conversely, Venezuela, Indonesia, Colombia, and Argentina had high risk ratings, and Brazil, Indonesia, and Venezuela were ranked as more difficult countries for ease of business. (author)

  12. Growing pains: How risk perception and risk communication research can help to manage the challenges of global population growth.

    Dawson, Ian G J; Johnson, Johnnie E V

    2014-08-01

    In 2011, the global human population reached 7 billion and medium variant projections indicate that it will exceed 9 billion before 2045. Theoretical and empirical perspectives suggest that this growth could lead to an increase in the likelihood of adverse events (e.g., food shortages, climate change, etc.) and/or the severity of adverse events (e.g., famines, natural disasters, etc.). Several scholars have posited that the size to which the global population grows and the extent to which this growth increases the likelihood of adverse outcomes will largely be shaped by individuals' decisions (in households, organizations, governments, etc.). In light of the strong relationship between perceived risk and decision behaviors, it is surprising that there remains a dearth of empirical research that specifically examines the perceived risks of population growth and how these perceptions might influence related decisions. In an attempt to motivate this important strand of research, this article examines the major risks that may be exacerbated by global population growth and draws upon empirical work concerning the perception and communication of risk to identify potential directions for future research. The article also considers how individuals might perceive both the risks and benefits of population growth and be helped to better understand and address the related issues. The answers to these questions could help humanity better manage the emerging consequences of its continuing success in increasing infant survival and adult longevity. © 2014 Society for Risk Analysis.

  13. Global Burden of Neural Tube Defects, Risk Factors, and Prevention

    Joseph E

    2014-11-01

    Full Text Available Neural tube defects (NTDs, serious birth defects of the brain and spine usually resulting in death or paralysis, affect an estimated 300,000 births each year worldwide. Although the majority of NTDs are preventable with adequate folic acid consumption during the preconception period and throughout the first few weeks of gestation, many populations, in particular those in low and middle resource settings, do not have access to fortified foods or vitamin supplements containing folic acid. Further, accurate birth defects surveillance data, which could help inform mandatory fortification and other NTD prevention initiatives, are lacking in many of these settings. The burden of birth defects in South East Asia is among the highest in the world. Expanding global neural tube defects prevention initiatives can support the achievement of the United Nations Millennium Development Goal 4 to reduce child mortality, a goal which many countries in South East Asia are currently not poised to reach, and the 63rd World Health Assembly Resolution on birth defects. More work is needed to develop and implement mandatory folic acid fortification policies, as well as supplementation programs in countries where the reach of fortification is limited.

  14. Asset protection: why a preventive approach is the best insurance against liability.

    Rinaldi, Ellen; Shin, Alisa

    2008-02-01

    Asset-protection planning is critical for people in high-risk professions, such as dentistry. Planning requires a careful weighing of risks, such as the risk of a lawsuit versus that of relinquishing control of assets. The authors examine several lawful techniques that may protect a dentist's assets from claims of future creditors. Asset-protection planning, if done early and with the guidance of an attorney well-versed in the subject, can help deter creditors from claims resulting from malpractice suits, divorce, business partner disputes, bad investments, poor tax planning or a combination of these. Practice Implications. Careful planning can minimize the risk to a dentist's personal assets and the assets of the practice resulting from a lawsuit or other liabilities.

  15. Inflation, Index-Linked Bonds, and Asset Allocation

    Zvi Bodie

    1988-01-01

    The recent introduction of CPI-linked bonds by several financial institutions is a milestone in the history of the U.S. financial system. It has potentially far-reaching effects on individual and institutional asset allocation decisions because these securities represent the only true long-run hedge against inflation risk. CPI-linked bonds make possible the creation of additional financial innovations that would use them as the asset base. One such innovation that seems likely is inflation-pr...

  16. Globalization

    Tulio Rosembuj

    2006-12-01

    Full Text Available There is no singular globalization, nor is the result of an individual agent. We could start by saying that global action has different angles and subjects who perform it are different, as well as its objectives. The global is an invisible invasion of materials and immediate effects.

  17. Globalization

    Tulio Rosembuj

    2006-01-01

    There is no singular globalization, nor is the result of an individual agent. We could start by saying that global action has different angles and subjects who perform it are different, as well as its objectives. The global is an invisible invasion of materials and immediate effects.

  18. Global warming risk in Russia: National actions and some options for international cooperation

    Sokolov, V.I.

    1995-01-01

    In the management of global environmental risks the Russia case is a special one regarding certain specific features which determine the position of the country, particularly in a new international community emerged on the territory of the former Soviet Union, large scientific interest to the global physical processes and low interest and capabilities to deal with such risks on the part of social institutions inherited from the USSR. The largest country in the world with visible geopolitical role and probably biggest regional differences could not be ignored as a one of major players in the management of global environmental risks. The understanding of all deficiencies and positive sides of global risks management process in this country are absolutely important for extrapolating the appropriate trends in some other parts of the world. At the same time the ex-Soviet Union case shows clearly how the social learning process can radically ''change the course'', diverting to the opposite direction the social goals and preferences. Starting the studies on possibilities to change the climate for improving the human being, the former soviet society perceived the risks of human impact on climate and started to regulate it and to participate in the process of international management of global warming. The level of activity in this process on the part of Russia will however depend heavily on how much national interests will be reflected in the specific prevention measures realized by the international community

  19. Evaluation of the Effect of Non-Current Fixed Assets on Profitability and Asset Management Efficiency

    Lubyanaya, Alexandra V.; Izmailov, Airat M.; Nikulina, Ekaterina Y.; Shaposhnikov, Vladislav A.

    2016-01-01

    The purpose of this article is to investigate the problem, which stems from non-current fixed assets affecting profitability and asset management efficiency. Tangible assets, intangible assets and financial assets are all included in non-current fixed assets. The aim of the research is to identify the impact of estimates and valuation in…

  20. Multi-hazard national-level risk assessment in Africa using global approaches

    Fraser, Stuart; Jongman, Brenden; Simpson, Alanna; Murnane, Richard

    2016-04-01

    In recent years Sub-Saharan Africa has been characterized by unprecedented opportunity for transformation and sustained growth. However, natural disasters such as droughts, floods, cyclones, earthquakes, landslides, volcanic eruptions and extreme temperatures cause significant economic and human losses, and major development challenges. Quantitative disaster risk assessments are an important basis for governments to understand disaster risk in their country, and to develop effective risk management and risk financing solutions. However, the data-scarce nature of many Sub-Saharan African countries as well as a lack of financing for risk assessments has long prevented detailed analytics. Recent advances in globally applicable disaster risk modelling practices and data availability offer new opportunities. In December 2013 the European Union approved a € 60 million contribution to support the development of an analytical basis for risk financing and to accelerate the effective implementation of a comprehensive disaster risk reduction. The World Bank's Global Facility for Disaster Reduction and Recovery (GFDRR) was selected as the implementing partner of the Program for Result Area 5: the "Africa Disaster Risk Assessment and Financing Program." As part of this effort, the GFDRR is overseeing the production of national-level multi-hazard risk profiles for a range of countries in Sub-Saharan Africa, using a combination of national and global datasets and state-of-the-art hazard and risk assessment methodologies. In this presentation, we will highlight the analytical approach behind these assessments, and show results for the first five countries for which the assessment has been completed (Kenya, Uganda, Senegal, Niger and Ethiopia). The presentation will also demonstrate the visualization of the risk assessments into understandable and visually attractive risk profile documents.

  1. Influence of the Farmer’s Livelihood Assets on Livelihood Strategies in the Western Mountainous Area, China

    Zhifei Liu

    2018-03-01

    Full Text Available The livelihood strategies of farm households depend on the conditions of their assets, and farm households cope with risks and shocks through portfolios consisting of different types of assets. Thus, discussing the relationship between the livelihood assets and the livelihood strategies of farm households helps in understanding their livelihood conditions and in formulating reasonable poverty reduction policies. Taking Zunyi City, which is located in a western, mountainous area of China, as the study region and using the framework of sustainability analysis, this study first tries to establish the mechanism of the influence of farm household livelihood assets on livelihood strategies, then evaluates different farm household livelihood assets by establishing an evaluation index system for them, and finally conducts an empirical analysis on the influence of farm household livelihood assets on livelihood strategies using a multinomial logit model. The research results indicate the following: (1 natural assets and material assets have a significant negative influence on farm households’ choice of livelihood strategies, that is, the more natural assets and material assets that farm households own, the more likely they are to choose livelihood strategies involving engaging in agricultural production; (2 Manpower assets and financial assets have a significant positive influence on farm households’ choice of livelihood strategy, namely, the more manpower assets and financial assets that farm households own, the more likely they are to choose livelihood strategies involving engaging in non-agricultural production; (3 Social assets have no significant influence on farm households’ choice of livelihood strategy.

  2. Efficient "Myopic" Asset Pricing in General Equilibrium: A Potential Pitfall in Excess Volatility Tests

    Willem H. Buiter

    1987-01-01

    Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the specification of the benchmark efficient market price as the present discounted value of expected future dividends. By departing from the risk-neutrality assumption in a stripped-down version of Lucas's general equilibrium asset pricing model, I show that asset prices determined in a competitive asset market and efficient by construction can nevertheless violate the variance bo...

  3. Russian spent marine fuel as a global security risk

    Gussgard, K.; Reistad, O.

    2001-01-01

    Russian marine fuel is a trans-national security concern. This paper focuses on specific technical properties of Russian marine nuclear fuel especially relevant for evaluating different aspects on nuclear proliferation, in addition to risks associated with regional environmental degradation and illegal diversion of radiological substances. Russian fresh fuel for marine reactors has been involved in several significant cases of illicit trafficking of special nuclear materials. The amount and quality of nuclear materials in Russian spent marine fuel give also reason for concern. Not less than 200 marine reactor cores are ready for having their spent fuel unloaded and preliminary stored on shore in the Far East and North West of Russia, and large amounts of spent naval fuel have been stored at Russian military bases for decades. In order to assess the security risks associated with Russian spent marine fuel, this paper discusses the material attractiveness of spent fuel from all types of Russian marine reactors. The calculations are based on a model of a light water moderated Russian icebreaker reactor. The computer tool HELIOS, used for modelling the reactor and the reactor operations, has been extensively qualified by comparisons with experimental data and international benchmark problems for reactor physics codes as well as through feedback from applications. Some of these benchmarks and studies include fuel enrichments up to 90% in Russian marine reactors. Several fuel data cases are discussed in the paper, focusing especially on: 1) early fuel designs with low initial enrichment; 2) more modern fuel designs used in third and fourth generation of Russian submarines probably with intermediate enriched fuel; and 3) marine fuel with initial enrichment levels close to weapons-grade material. In each case the fuel has been burned until k eff has reached below 1. Case 1) has been evaluated, the calculations made as basis for this paper have concentrated on fuel with

  4. What can('t) we do with global flood risk models?

    Ward, Philip; Jongman, Brenden; Salamon, Peter; Simpson, Alanna; Winsemius, Hessel

    2015-04-01

    In recent years, several global scale flood risk models have become available. Within the scientific community these have been, and are being, used to assess and map the current levels of risk faced by countries and societies. Increasingly, they are also being used to assess how that level of risk may change in the future, under scenarios of climate change and/or socioeconomic development. More and more, these 'quick and not so dirty' methods are also being used in practice, for a large range of uses and applications, and by an increasing range of practitioners and decision makers. For example, assessments can be used by: International Financing Institutes for prioritising investments in the most promising natural disaster risk reduction measures and strategies; intra-national institutes in the monitoring of progress on risk reduction activities; the (re-)insurance industry in assessing their risk portfolios and potential changes in those portfolios under climate change; by multinational companies in assessing risks to their regional investments and supply chains; and by international aid organisations for improved resource planning. However, global scale flood risk models clearly have their limits, and therefore both modellers and users need to critically address the question 'What can('t) we do with global flood risk models?'. This contribution is intended to start a dialogue between model developers, users, and decision makers to better answer this question. We will provide a number of examples of how the GLOFRIS global flood risk model has recently been used in several practical applications, and share both the positive and negative insights gained through these experiences. We wish to discuss similar experiences with other groups of modelers, users, and decision-makers, in order to better understand and harness the potential of this new generation of models, understand the differences in model approaches followed and their impacts on applicability, and develop

  5. Global sourcing risk management approaches: A study of small clothing and textile retailers in Gauteng

    Wesley Niemann

    2018-02-01

    Full Text Available Background: Global sourcing has increased as buyers searched for new markets that offered better pricing, quality, variety and delivery lead times than their local markets. However, the increase in global sourcing has also exposed businesses to many supply risks. Purpose: The purpose of this descriptive qualitative study was to explore the global sourcing supply risks encountered by small clothing and textile retailers in Gauteng and to determine what supply risk identification and management approaches they utilise. Method: This study utilised semi-structured interviews conducted with 12 small clothing and textile retail owners. Results: The study found that the three major supply risks encountered by these retailers were fluctuating exchange rates, communication barriers and costly and complicated logistics, which included high customs costs. Furthermore, although aware of the supply risks, none of the small clothing and textile retailers had formal identification and management approaches in place. Instead, risks are dealt with at the sole discretion of the owner as and when they occur. The study also found that informal identification and management approaches were being applied by some of the retailers. These included factoring exchange rate fluctuations into the profit margins and using translators to combat communication barriers. Contribution: The study is one of the first empirical studies conducted on global supply risks and the associated identification and management approaches in the South African small business context, specifically focused on clothing and textile retailers. Conclusion: Small clothing and textile retailers need to proactively identify and manage global sourcing risk using the identified approaches in order to reduce and mitigate potential supply disruptions.

  6. Going global - how to reduce the risks involved in exporting

    Mowers, J.

    1999-01-01

    Exporting oilfield expertise and technology overseas to new markets can be risky, a lesson that the company Fracmaster Ltd. learned the hard way when it lost investment in the former Soviet Union. The company's demise illustrates some of the risks inherent in conducting business in a foreign country. To be successful at this Canadian oilfield service and supply companies must not only know how to recognize opportunities but also to recognize the possible pitfalls and learn how to avoid them. Before looking at the export market, oil and gas service and supply companies should first ensure that they have not missed any opportunities at home. Canada is the second largest market in the world after the U.S. But companies should approach the American market with caution. The rule that companies should approach the U.S. first does not necessarily hold in the oil and gas industries. Mexico is another country where Canadian companies should use caution. The current hotspots in exporting are countries in the Middle East and the Latin American countries. Saudi Arabia is interested in technology and expertise. although political factors in Iran will have to improve before commitment to that market is advisable. Industry Canada has a wealth of information and services available to companies interested in exporting. There are a number of government programs to help companies finance efforts to enter the export market. Industry Canada also offers a capital projects bidding program for Canadian companies bidding on projects greater than $1 million

  7. Internal audit of costs on fixed assets repair

    M.Yu. Samchyk

    2016-12-01

    Full Text Available The article focuses on the approaches to the process and methods of expenditure audit on repair and modernization of fixed assets and the author considers that there is no single approach to understanding the issue. The author improves the organizational and methodological support of internal audit of expenditures on the fixed assets repair and modernization that forms the accurate information for management repair and modernization of fixed assets. The paper specifies the goals and objectives of internal expenditures on repair and modernization of fixed assets, depending on the sources of such facilities to the company, allowing the author to determine the documentary control methods to be applied by an auditor to perform each task. The article determines the areas of risk components of internal control that can lead to ineffective implementation of authority by officials of an enterprise in the process of fixed assets repair, which can cause inefficient use of resources and, consequently, decrease in the efficiency of the work of fixed assets repair and modernization. The author proposes the list of auditor’s questions to assess the internal control system in the repair of fixed assets and these questions will help identify the significant drawbacks of control means.

  8. Double hedge aids commercial terms of upstream asset purchase

    Wood, D.

    1993-01-01

    In recent years many major oil companies have elected to rationalize their producing assets. Mature production--particularly onshore in developed countries, associated with high costs and small profit margins--has been the major target. The current weakness in oil prices has resulted in many such properties being on the market. However, much production marginal to a major can be highly profitable to a cost-effective independent, particularly if the production fits strategically with the independent's asset portfolio. Although many independents recognize that some of the producing assets on the market could be of potential value to them, in a period of volatile prices two important valuations have to be technically justified and negotiated to enable or persuade them to conclude a purchase agreement for a specific asset. These are: A purchase value for an asset that is acceptable to both seller and buyer; and A loan value for the asset to establish the level of debt that the asset can support for the buyer. In defining these two important values (both of which are usually established as ranges rather than single values) the independent has to protect itself against a downturn in commodity prices and exposing itself to an unserviceable level of debt. The paper discusses reducing risks, purchase price hedge, an example of a hedged purchase price, price elements, loan value analysis, agreement structure, loan value hedge, and an example of a hedged loan value

  9. Digital asset ecosystems rethinking crowds and cloud

    Blanke, Tobias

    2014-01-01

    Digital asset management is undergoing a fundamental transformation. Near universal availability of high-quality web-based assets makes it important to pay attention to the new world of digital ecosystems and what it means for managing, using and publishing digital assets. The Ecosystem of Digital Assets reflects on these developments and what the emerging 'web of things' could mean for digital assets. The book is structured into three parts, each covering an important aspect of digital assets. Part one introduces the emerging ecosystems of digital assets. Part two examines digital asset manag

  10. Does Central Bank Tone Move Asset Prices?

    Schmeling, Maik; Wagner, Christian

    the next press conference. Moreover, we find that positive tone changes are associated with increasing government bond yields, lower implied equity volatility, lower variance risk premia, and lower corporate credit spreads. Since we also show that tone changes are unrelated to current and future economic...... fundamentals, these results support the conjecture that central bank tone matters for asset prices through a risk-based channel. Our main findings also apply to U.S. markets, where stock prices and Treasury yields increase when the Fed chair’s tone in the Congressional Testimony becomes more positive....

  11. Leverage Aversion and Risk Parity

    Asness, Clifford; Frazzini, Andrea; Heje Pedersen, Lasse

    2012-01-01

    The authors show that leverage aversion changes the predictions of modern portfolio theory: Safer assets must offer higher risk-adjusted returns than riskier assets. Consuming the high risk-adjusted returns of safer assets requires leverage, creating an opportunity for investors with the ability...... to apply leverage. Risk parity portfolios exploit this opportunity by equalizing the risk allocation across asset classes, thus overweighting safer assets relative to their weight in the market portfolio....

  12. Assessing flood risk at the global scale: model setup, results, and sensitivity

    Ward, Philip J; Jongman, Brenden; Weiland, Frederiek Sperna; Winsemius, Hessel C; Bouwman, Arno; Ligtvoet, Willem; Van Beek, Rens; Bierkens, Marc F P

    2013-01-01

    Globally, economic losses from flooding exceeded $19 billion in 2012, and are rising rapidly. Hence, there is an increasing need for global-scale flood risk assessments, also within the context of integrated global assessments. We have developed and validated a model cascade for producing global flood risk maps, based on numerous flood return-periods. Validation results indicate that the model simulates interannual fluctuations in flood impacts well. The cascade involves: hydrological and hydraulic modelling; extreme value statistics; inundation modelling; flood impact modelling; and estimating annual expected impacts. The initial results estimate global impacts for several indicators, for example annual expected exposed population (169 million); and annual expected exposed GDP ($1383 billion). These results are relatively insensitive to the extreme value distribution employed to estimate low frequency flood volumes. However, they are extremely sensitive to the assumed flood protection standard; developing a database of such standards should be a research priority. Also, results are sensitive to the use of two different climate forcing datasets. The impact model can easily accommodate new, user-defined, impact indicators. We envisage several applications, for example: identifying risk hotspots; calculating macro-scale risk for the insurance industry and large companies; and assessing potential benefits (and costs) of adaptation measures. (letter)

  13. Globalization

    Andru?cã Maria Carmen

    2013-01-01

    The field of globalization has highlighted an interdependence implied by a more harmonious understanding determined by the daily interaction between nations through the inducement of peace and the management of streamlining and the effectiveness of the global economy. For the functioning of the globalization, the developing countries that can be helped by the developed ones must be involved. The international community can contribute to the institution of the development environment of the gl...

  14. Insurance World in Transition: Changes in Global Risk Taking and Risk Assessment

    Michel, Gero; Tiampo, Kristy

    2015-04-01

    Catastrophe insurance risk assessment, risk taking, and regulation has evolved over the last 20 years and is gearing up for significant further change in the years ahead. Changes in regulation and influx of capital have put profit margins for catastrophe risk products under pressure despite the fact that changes in climate as well as increasing insurance penetration is expected to heighten demand. As a result, reinsurance strategies are moving away from catastrophe risk. In addition, lower margins require cheaper and more efficient risk assessment methods and processes which are contrary to evolving analytical tools and methods that had increased expenses in line with growing margins over the last decade. New capital providers are less familiar with and less willing to accept complex supply chains for risk management, relationship-driven business and tedious data exchange and management processes. Risk takers claim new measures and ask for more flexibility in the use of tools. The current concepts of catastrophe insurance risk assessment are hence under thorough scrutiny. This presentation deals with the changing landscape in catastrophe insurance risk assessment and risk hedging and discusses changes in catastrophe risk assessment products and demand. How likely is it that private, small and nimble hazard and risk consulting groups - increasingly emanating from larger science organizations - will replace large established firms in their role to assess risk? What role do public-private academic partnerships play in assuming risk for catastrophe insurance and what role could they play in the future? What are the opportunities and downsides of the current changes in risk taking and hedging? What is needed from the scientific community in order to fill the gaps in risk management and who is likely to take advantage of the current changes?

  15. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990-2015 : A systematic analysis for the Global Burden of Disease Study 2015

    Forouzanfar, Mohammad H.; Afshin, Ashkan; Alexander, Lily T.; Anderson, H. Ross; Bhutta, Zulficiar A.; Biryukov, Stan; Brauer, Michael; Burnett, Richard; Cercy, Kelly; Charlson, Fiona J.; Cohen, Aaron J.; Dandona, Lalit; Estep, Kara; Ferrari, Alize J.; Frostad, Joseph J.; Fullman, Nancy; Gething, Peter W.; Godwin, William W.; Griswold, Max; Kinfu, Yohannes; Kyu, Hmwe H.; Larson, Heidi J.; Liang, Xiaofeng; Lim, Stephen S.; Liu, Patrick Y.; Lopez, Alan D.; Lozano, Rafael; Marczak, Laurie; Mensah, George A.; Mokdad, Ali H.; Moradi-Lakeh, Maziar; Naghavi, Mohsen; Neal, Bruce; Reitsma, Marissa B.; Roth, Gregory A.; Salomon, Joshua A.; Sur, Patrick J.; Vos, Theo; Wagner, Joseph A.; Wang, Haidong; Zhao, Yi; Zhou, Maigeng; Aasvang, Gunn Marit; Abajobir, Amanuel Alemu; Abate, Kalkidan Hassen; Abbafati, Cristiana; Amare, Azmeraw T.; Hoek, Hans W.; Singh, Abhishek; Tura, Abera Kenay

    2016-01-01

    Background The Global Burden of Diseases, Injuries, and Risk Factors Study 2015 provides an up-to-date synthesis of the evidence for risk factor exposure and the attributable burden of disease. By providing national and subnational assessments spanning the past 25 years, this study can inform

  16. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990–2015: a systematic analysis for the Global Burden of Disease Study 2015

    Forouzanfar, Mohammad Hossein; Afshin, Ashkan; Alexander, Lily T.; Ross Anderson, H.; Bhutta, Zulfiqar; Biryukov, Stan; Brauer, M.; Burnett, Richard; Cercy, Kelly; Charlson, Fiona J.; Geleijnse, J.M.

    2016-01-01

    Background
    The Global Burden of Diseases, Injuries, and Risk Factors Study 2015 provides an up-to-date synthesis of the evidence for risk factor exposure and the attributable burden of disease. By providing national and subnational assessments spanning the past 25 years, this study can inform

  17. Application of Securitization of Leasing Assets

    Igor Viktorovich Linev

    2014-01-01

    Full Text Available Securitization of leasing assets was widely adopted abroad within the last decades. Securitization of leasing assets usually is meant as process of formation of a portfolio based on future leasing payments of one and (or more leasing company and sale of securities to investors for the subsequent refinancing of leasing operations. These securities can be bonds, actions or bills. Thus the asset leased, acts as providing these papers. Nomenclature of property includes office, medical (first of all, stomatology, training, video the equipment, and also a car, motor-equipment, towers of cellular communication production of heavy mechanical engineering and computers. The essence of securitization of leasing assets consists in isolation of streams of leasing payments from risk of bankruptcy of the leasing company. As the considered mechanism has the greatest development in the USA, so far as consideration of experience of its application in this country is represented especially actual. The special attention is deserved by a question of decrease in credit risk of the investor. External and internal providing is applied to its decision in different types. Interest of participants in securitization of leasing assets consists in distribution of risks between them, emergence of a new source of financing, depreciation of attracted resources, increase of liquidity of a leasing portfolio and optimization by management by balance of the enterprise. Appeal of this tool to the leasing company in a case when it has no available own funds for business development, represents separate interest. Securitization allows the leasing company to expand sources of attraction of the capital and to receive a reserve for the future, and also to broaden the sphere of options of activity and to give it new opportunities for financing of projects. Widespread introduction of schemes of securitization in practice of the Russian leasing business, requires development, and on some

  18. Gender, Livestock and Asset Ownership

    measure of gender inequality and women's economic empowerment compared to indicators such as income. The role of livestock as an asset for women has been analysed in Kenya, Tanzania .... were a more common source in Tanzania and.

  19. Developing formal asset management plans

    2014-06-01

    This report highlights key recommendations and best practices identified at the peer exchange on Transportation Asset Management Plans (TAMP), held on February 5 and 6, 2014, in Columbia, South Carolina. This event was sponsored by the Transportation...

  20. The world price of jump and volatility risk

    Driessen, J.; Maenhout, P.

    2006-01-01

    Jump and volatility risk are important for understanding equity returns, option pricing and asset allocation. This paper is the first to study international integration of markets for jump and volatility risk, using data on index options for each of the three main global markets: US S&P 500 index

  1. Theoretical and practical aspects of risk management in contemporary global supply chains

    2010-09-01

    Full Text Available Globalization, off-shoring, outsourcing and pressure on cost reduction influence on the increasing complexity of supply chains and lead to higher risk. This may concern supplies, deliveries, manufacturing and transportation. Companies which source from distant countries have to implement risk management system. Examples of companies which use such systems prove, that it is possible to reduce uncertainty. Results concern shorter lead times, better quality and accepted cost level.

  2. A framework for assessing global change risks to forest carbon stocks in the United States.

    Christopher W Woodall

    Full Text Available Among terrestrial environments, forests are not only the largest long-term sink of atmospheric carbon (C, but are also susceptible to global change themselves, with potential consequences including alterations of C cycles and potential C emission. To inform global change risk assessment of forest C across large spatial/temporal scales, this study constructed and evaluated a basic risk framework which combined the magnitude of C stocks and their associated probability of stock change in the context of global change across the US. For the purposes of this analysis, forest C was divided into five pools, two live (aboveground and belowground biomass and three dead (dead wood, soil organic matter, and forest floor with a risk framework parameterized using the US's national greenhouse gas inventory and associated forest inventory data across current and projected future Köppen-Geiger climate zones (A1F1 scenario. Results suggest that an initial forest C risk matrix may be constructed to focus attention on short- and long-term risks to forest C stocks (as opposed to implementation in decision making using inventory-based estimates of total stocks and associated estimates of variability (i.e., coefficient of variation among climate zones. The empirical parameterization of such a risk matrix highlighted numerous knowledge gaps: 1 robust measures of the likelihood of forest C stock change under climate change scenarios, 2 projections of forest C stocks given unforeseen socioeconomic conditions (i.e., land-use change, and 3 appropriate social responses to global change events for which there is no contemporary climate/disturbance analog (e.g., severe droughts in the Lake States. Coupling these current technical/social limits of developing a risk matrix to the biological processes of forest ecosystems (i.e., disturbance events and interaction among diverse forest C pools, potential positive feedbacks, and forest resiliency/recovery suggests an operational

  3. Asset Pricing and Monetary Policy

    Bingbing Dong

    2014-01-01

    This paper examines the role of money in understanding the behavior of asset prices and whether and how monetary policy should react to asset prices such as stock prices and equity premiums. To do so, I introduce money via the form of transaction cost into a production economy with limited stock market participation where agents with lower inter-temporal elasticity of substitution (IES), called non-stockholders, have no access to stock market. In addition to facilitating transactions of consu...

  4. AUTOMATING ASSET KNOWLEDGE WITH MTCONNECT.

    Venkatesh, Sid; Ly, Sidney; Manning, Martin; Michaloski, John; Proctor, Fred

    2016-01-01

    In order to maximize assets, manufacturers should use real-time knowledge garnered from ongoing and continuous collection and evaluation of factory-floor machine status data. In discrete parts manufacturing, factory machine monitoring has been difficult, due primarily to closed, proprietary automation equipment that make integration difficult. Recently, there has been a push in applying the data acquisition concepts of MTConnect to the real-time acquisition of machine status data. MTConnect is an open, free specification aimed at overcoming the "Islands of Automation" dilemma on the shop floor. With automated asset analysis, manufacturers can improve production to become lean, efficient, and effective. The focus of this paper will be on the deployment of MTConnect to collect real-time machine status to automate asset management. In addition, we will leverage the ISO 22400 standard, which defines an asset and quantifies asset performance metrics. In conjunction with these goals, the deployment of MTConnect in a large aerospace manufacturing facility will be studied with emphasis on asset management and understanding the impact of machine Overall Equipment Effectiveness (OEE) on manufacturing.

  5. Asset management trends and challenges

    Rijks, E. [Continuon, Arnhem (Netherlands); Ford, G.L. [PowerNex Associates Inc., Toronto, ON (Canada); Sanchis, G. [Reseau de Transport d' Electricite, Paris (France)

    2007-07-01

    Recent business and regulatory changes in the electric power industry have affected the operation of electric utilities. Most have accepted competition and commercialization. Various strategies have emerged as companies strive to improve performance and retain profitability in an environment where competition or regulatory pressure is reducing revenues at a time when customer expectation is increasing. As focus shifts away from engineering excellence towards commercial performance, the new business ideology for electric utilities is to optimize asset management. This paper identified asset management technology trends, opportunities and challenges. Although many utilities are currently comfortable with their existing asset management processes, regulators are increasingly scrutinizing utilities as they seek approval for rates and investments in aging infrastructure. Much more rigorous financial analysis methods are needed to justify the large investments that are needed. In addition, the credibility of the processes and methods used by utilities will be increasingly questioned. In recognition of the growing importance of asset management, several initiatives have been launched to provide forums for sharing information and to provide a unifying force to asset management methods. The International Council on Large Electric Systems (CIGRE) was one of the first to recognize the importance of asset management. This paper summarized recent CIGRE activities as well as the developments of publicly available specification (PAS) 55 in the United Kingdom. It was concluded that utilities that adopt standardized approaches will be more credible in the eyes of regulatory authorities. 3 refs., 4 figs.

  6. International asset pricing under segmentation and PPP deviations

    Chaieb, I.; Errunza, V.

    2007-01-01

    We analyze the impact of both purchasing power parity (PPP) deviations and market segmentation on asset pricing and investor's portfolio holdings. The freely traded securities command a world market risk premium and an inflation risk premium. The securities that can be held by only a subset of

  7. Success in Investing: Integrating Spending Policy into Asset Allocation Strategy.

    Morrell, Louis R.

    1996-01-01

    Successful college and university investments hinge on an asset allocation strategy capable of meeting the institution's needs for income and growth in principal at the lowest possible risk. Periodic adjustments must be made when there is a shift in the institution's risk tolerance, modification in need for income distribution, and changes in…

  8. A study on intangible assets disclosure: An evidence from Indian companies

    Subash Chander

    2011-04-01

    Full Text Available Purpose: India has emerged at the top of the pedestal in the present knowledge-driven global marketplace, where intangible assets hold much more value than physical assets. The objective of this study is to determine the extent of intangible asset disclosure by companies in IndiaDesign/methodology/approach: This study relates to the years 2003-04 and 2007-08 and is based on 243 companies selected from BT-500 companies. The annual reports of these companies were analyzed using content analysis so as to examine the level of disclosure of intangible asset information. Intangible assets disclosure index based on the intangible assets framework as given by Sveiby (1997 and as used and tested by Guthrie and Petty (2000 and many other subsequent studies was modified and used for this study. Findings: The results showed that external capital is the most disclosed intangible asset category with a disclosure score of 37.90% and 35.83% in the years 2003-04 and 2007-08 respectively. Infosys technologies Ltd. is the company with the highest intangible assets reporting for both the years (2003-04: 68.52%, 2007-08: 81.48%. Further the reporting of intangible assets is unorganized and unsystematic. There is lack of appropriate framework for disclosing intangible assets information in the annual reports.Originality/value: This is perhaps the first comprehensive study on intangible assets disclosure based on a large sample of the companies from India. Literature reveals that now the intangible assets play relatively an increasingly significant role in the decision making process of various users of corporate reports. This study shows that the overall disclosure of intangible assets is low in India. Thus this study may be of value to the corporate sector in India to explore the areas of intangible assets disclosure so that they can provide useful and relevant information to the users of annual reports.

  9. 24 CFR 990.270 - Asset management.

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Asset management. 990.270 Section... THE PUBLIC HOUSING OPERATING FUND PROGRAM Asset Management § 990.270 Asset management. As owners, PHAs have asset management responsibilities that are above and beyond property management activities. These...

  10. Financier-led asset lease model

    Zhao, X.; Angelov, S.A.; Grefen, P.W.P.J.; Meersman, R.A.; Dillon, T.S.

    2010-01-01

    Nowadays, the business globalisation trend drives organisations to spread their business worldwide, which in turn generates vast asset demands. In this context, broader asset channels and higher financial capacities are required to boost the asset lease sector to meet the increasing asset demands

  11. Modern Finance, Methodology and the Global Crisis

    Esteban Pérez Caldentey; Matías Vernengo

    2010-01-01

    Modern finance has a conceptually unified theoretical core that includes the efficient market hypothesis (EMH), the relationship between risk and return based on the Capital Asset Pricing Model (CAPM), the Modigliani-Miller theorems (M&M) and the Black-Scholes-Merton approach to option pricing. The core has been instrumental to the growth of the financial services industry, financial innovation, globalization, and deregulation. The significant impact of the core is explained by their success ...

  12. Managing Assets in The Infrastructure Sector

    T.P. van Houten

    2010-09-01

    Full Text Available In view of the importance of managing assets and the lack of research in managing assets in the infrastructure sector, we develop an asset management model in this study. This model is developed in line with the unique characteristics of the infrastructure assets and asset management principles and criteria. In the proposed model, we consider activities at three levels, namely the strategical, tactical and operational levels. The interviews with experts in asset management and officials in several Dutch organizations have proven the potential of our asset management model.

  13. Global, regional, and national comparative risk assessment of 79 behavioral, environmental and occupational, and metabolic risks or clusters of risks, 1990–2015: a systematic analysis for the Global Burden of Disease Study 2015

    Moesgaard Iburg, Kim

    2016-01-01

    inform debates on the importance of addressing risks in context. Methods We used the comparative risk assessment framework developed for previous iterations of the Global Burden of Disease Study to estimate attributable deaths, disability-adjusted life-years (DALYs), and trends in exposure by age group......, sex, year, and geography for 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks from 1990 to 2015. This study included 388 risk-outcome pairs that met World Cancer Research Fund-defined criteria for convincing or probable evidence. We extracted relative risk...... pollution; reductions in risk-deleted DALY rates rather than reductions in exposure drove these declines. Rising exposure contributed to notable increases in attributable DALYs from high BMI, high fasting plasma glucose, occupational carcinogens, and drug use. Environmental risks and childhood...

  14. A study of the effects of company size on systematic risk based on the capital asset pricing model among accepted companies in Tehran Stock Market ,

    Reza Rostami

    2012-08-01

    Full Text Available Systematic risk (beta is one of the most effective factors in predicting the appropriate required rate of return of portfolios. Understanding systematic risk of usual portfolio of various companies helps investors consider financial investment, more confidentially. The aim of this study is to determine if there is any significant relationship between Company Size (Market value of stocks, Book value of stocks, level of company sale, trade volume of stocks, Price dividend ratio as independent variables and Systematic risk (Beta as dependent variables. The study chooses 112 companies accepted in Tehran Stock Market based on screening (systematic deletion in a six-year- period from 2005 to 2010. The required data were gathered from basic financial statement, committee reports, and other available documents in Tehran Stock Market. Regression and Pearson correlation were used to analyze the data. The results of the study revealed that there is a significant relationship between the variables. Some suggestions regarding the topic of the research are given too.

  15. A globally-distributed alien invasive species poses risks to United States imperiled species.

    McClure, Meredith L; Burdett, Christopher L; Farnsworth, Matthew L; Sweeney, Steven J; Miller, Ryan S

    2018-03-28

    In the midst of Earth's sixth mass extinction event, non-native species are a driving factor in many imperiled species' declines. One of the most widespread and destructive alien invasive species in the world, wild pigs (Sus scrofa) threaten native species through predation, habitat destruction, competition, and disease transmission. We show that wild pigs co-occur with up to 87.2% of imperiled species in the contiguous U.S. identified as susceptible to their direct impacts, and we project increases in both the number of species at risk and the geographic extent of risks by 2025. Wild pigs may therefore present a severe threat to U.S. imperiled species, with serious implications for management of at-risk species throughout wild pigs' global distribution. We offer guidance for efficient allocation of research effort and conservation resources across species and regions using a simple approach that can be applied to wild pigs and other alien invasive species globally.

  16. A World at Risk: Aggregating Development Trends to Forecast Global Habitat Conversion.

    Oakleaf, James R; Kennedy, Christina M; Baruch-Mordo, Sharon; West, Paul C; Gerber, James S; Jarvis, Larissa; Kiesecker, Joseph

    2015-01-01

    A growing and more affluent human population is expected to increase the demand for resources and to accelerate habitat modification, but by how much and where remains unknown. Here we project and aggregate global spatial patterns of expected urban and agricultural expansion, conventional and unconventional oil and gas, coal, solar, wind, biofuels and mining development. Cumulatively, these threats place at risk 20% of the remaining global natural lands (19.68 million km2) and could result in half of the world's biomes becoming >50% converted while doubling and tripling the extent of land converted in South America and Africa, respectively. Regionally, substantial shifts in land conversion could occur in Southern and Western South America, Central and Eastern Africa, and the Central Rocky Mountains of North America. With only 5% of the Earth's at-risk natural lands under strict legal protection, estimating and proactively mitigating multi-sector development risk is critical for curtailing the further substantial loss of nature.

  17. Global potential for carbon sequestration. Geographical distribution, country risk and policy implications

    Benitez, Pablo C.; McCallum, Ian; Obersteiner, Michael; Yamagata, Yoshiki

    2007-01-01

    We have provided a framework for identifying least-cost sites for afforestation and reforestation and deriving carbon sequestration cost curves at a global level in a scenario of limited information. Special attention is given to country risk in developing countries and the sensitivity to spatial datasets. Our model results suggest that within 20 years and considering a carbon price of USD 50/tC, tree-planting activities could offset 1 year of global carbon emissions in the energy sector. However, if we account for country risk considerations-associated with political, economic and financial risks - carbon sequestration is reduced by approximately 60%. With respect to the geography of supply, illustrated by grid-scale maps, we find that most least-cost sites are located in regions of developing countries such as the Sub-Sahara, Southeast Brazil and Southeast Asia. (author)

  18. Global assessment of river flood protection benefits and corresponding residual risks under climate change

    Lim, Wee Ho; Yamazaki, Dai; Koirala, Sujan; Hirabayashi, Yukiko; Kanae, Shinjiro; Dadson, Simon J.; Hall, Jim W.

    2016-04-01

    Global warming increases the water-holding capacity of the atmosphere and this could lead to more intense rainfalls and possibly increasing natural hazards in the form of flooding in some regions. This implies that traditional practice of using historical hydrological records alone is somewhat limited for supporting long-term water infrastructure planning. This has motivated recent global scale studies to evaluate river flood risks (e.g., Hirabayashi et al., 2013, Arnell and Gosling, 2014, Sadoff et al., 2015) and adaptations benefits (e.g., Jongman et al., 2015). To support decision-making in river flood risk reduction, this study takes a further step to examine the benefits and corresponding residual risks for a range of flood protection levels. To do that, we channelled runoff information of a baseline period (forced by observed hydroclimate conditions) and each CMIP5 model (historic and future periods) into a global river routing model called CaMa-Flood (Yamazaki et al., 2011). We incorporated the latest global river width data (Yamazaki et al., 2014) into CaMa-Flood and simulate the river water depth at a spatial resolution of 15 min x 15 min. From the simulated results of baseline period, we use the annual maxima river water depth to fit the Gumbel distribution and prepare the return period-flood risk relationship (involving population and GDP). From the simulated results of CMIP5 model, we also used the annual maxima river water depth to obtain the Gumbel distribution and then estimate the exceedance probability (historic and future periods). We apply the return period-flood risk relationship (above) to the exceedance probability and evaluate the flood protection benefits. We quantify the corresponding residual risks using a mathematical approach that is consistent with the modelling structure of CaMa-Flood. Globally and regionally, we find that the benefits of flood protection level peak somewhere between 20 and 500 years; residual risks diminish

  19. ISO 55000: Creating an asset management system.

    Bradley, Chris; Main, Kevin

    2015-02-01

    In the October 2014 issue of HEJ, Keith Hamer, group vice-president, Asset Management & Engineering at Sodexo, and marketing director at Asset Wisdom, Kevin Main, argued that the new ISO 55000 standards present facilities managers with an opportunity to create 'a joined-up, whole lifecycle approach' to managing and delivering value from assets. In this article, Kevin Main and Chris Bradley, who runs various asset management projects, examine the process of creating an asset management system.

  20. Risk Analysis Reveals Global Hotspots for Marine Debris Ingestion by Sea Turtles

    Schuyler, Q. A.; Wilcox, C.; Townsend, K.; Wedemeyer-Strombel, K.; Balazs, G.; van Sebille, E.; Hardesty, B. D.

    2016-02-01

    Plastic marine debris pollution is rapidly becoming one of the critical environmental concerns facing wildlife in the 21st century. Here we present a risk analysis for plastic ingestion by sea turtles on a global scale. We combined global marine plastic distributions based on ocean drifter data with sea turtle habitat maps to predict exposure levels to plastic pollution. Empirical data from necropsies of deceased animals were then utilised to assess the consequence of exposure to plastics. We modelled the risk (probability of debris ingestion) by incorporating exposure to debris and consequence of exposure, and included life history stage, species of sea turtle, and date of stranding observation as possible additional explanatory factors. Life history stage is the best predictor of debris ingestion, but the best-fit model also incorporates encounter rates within a limited distance from stranding location, marine debris predictions specific to the date of the stranding study, and turtle species. There was no difference in ingestion rates between stranded turtles vs. those caught as bycatch from fishing activity, suggesting that stranded animals are not a biased representation of debris ingestion rates in the background population. Oceanic life-stage sea turtles are at the highest risk of debris ingestion, and olive ridley turtles are the most at-risk species. The regions of highest risk to global sea turtle populations are off of the east coasts of the USA, Australia, and South Africa; the east Indian Ocean, and Southeast Asia. Model results can be used to predict the number of sea turtles globally at risk of debris ingestion. Based on currently available data, initial calculations indicate that up to 52% of sea turtles may have ingested debris.

  1. Risk analysis reveals global hotspots for marine debris ingestion by sea turtles.

    Schuyler, Qamar A; Wilcox, Chris; Townsend, Kathy A; Wedemeyer-Strombel, Kathryn R; Balazs, George; van Sebille, Erik; Hardesty, Britta Denise

    2016-02-01

    Plastic marine debris pollution is rapidly becoming one of the critical environmental concerns facing wildlife in the 21st century. Here we present a risk analysis for plastic ingestion by sea turtles on a global scale. We combined global marine plastic distributions based on ocean drifter data with sea turtle habitat maps to predict exposure levels to plastic pollution. Empirical data from necropsies of deceased animals were then utilised to assess the consequence of exposure to plastics. We modelled the risk (probability of debris ingestion) by incorporating exposure to debris and consequence of exposure, and included life history stage, species of sea turtle and date of stranding observation as possible additional explanatory factors. Life history stage is the best predictor of debris ingestion, but the best-fit model also incorporates encounter rates within a limited distance from stranding location, marine debris predictions specific to the date of the stranding study and turtle species. There is no difference in ingestion rates between stranded turtles vs. those caught as bycatch from fishing activity, suggesting that stranded animals are not a biased representation of debris ingestion rates in the background population. Oceanic life-stage sea turtles are at the highest risk of debris ingestion, and olive ridley turtles are the most at-risk species. The regions of highest risk to global sea turtle populations are off of the east coasts of the USA, Australia and South Africa; the east Indian Ocean, and Southeast Asia. Model results can be used to predict the number of sea turtles globally at risk of debris ingestion. Based on currently available data, initial calculations indicate that up to 52% of sea turtles may have ingested debris. © 2015 John Wiley & Sons Ltd.

  2. The 5C model: A new approach to asset integrity management

    Rahim, Yousif; Refsdal, Ingbjorn; Kenett, Ron S.

    2010-01-01

    As organizations grow more complex in operation and more global in scope, assets and technical integrity become key success factors. A company's asset integrity business process needs to be mapped in order to 1) provide a proper overview of operation and business processes, 2) identify all critical interfaces and 3) ensure that all gaps and overlaps in processes are eliminated. Achieving asset integrity requires companies to sustain their activities and identify the hazards, weaknesses and objectives of their strategic assets. Technical integrity emphasizes a complete overview of technical conditions and related information, and the ability of the companies to document the technical state of its assets. It is based on an integrated view of the current state of operations, and the identification of all critical interfaces, in order to ensure that all gaps and unnecessary overlaps in processes are eliminated. Companies look increasingly at their asset integrity management system as a means to extend the life of their assets, beyond the original design conditions and production capacity. Establishing an asset integrity management system requires the documentation of the company's technical integrity management, a strategy and the processes for carrying it out, identifying gaps; selecting corrective interventions and conducting follow up actions. The paper discusses various aspects of asset integrity management, including its planning and implementation. We begin with an introduction to asset technical integrity, provide some theoretical backgrounds, present a model we call 5C and conclude with a summary and discussion.

  3. Space assets for demining assistance

    Kruijff, Michiel; Eriksson, Daniel; Bouvet, Thomas; Griffiths, Alexander; Craig, Matthew; Sahli, Hichem; González-Rosón, Fernando Valcarce; Willekens, Philippe; Ginati, Amnon

    2013-02-01

    Populations emerging from armed conflicts often remain threatened by landmines and explosive remnants of war. The international mine action community is concerned with the relief of this threat. The Space Assets for Demining Assistance (SADA) undertaking is a set of activities that aim at developing new services to improve the socio-economic impact of mine action activities, primarily focused on the release of land thought to be contaminated, a process described as land release. SADA was originally initiated by the International Astronautical Federation (IAF). It has been implemented under the Integrated Applications Promotion (IAP) program of the European Space Agency (ESA). Land release in mine action is the process whereby the demining community identifies, surveys and prioritizes suspected hazardous areas for more detailed investigation, which eventually results in the clearance of landmines and other explosives, thereby releasing land to the local population. SADA has a broad scope, covering activities, such as planning (risk and impact analysis, prioritization, and resource management), field operations and reporting. SADA services are developed in two phases: feasibility studies followed by demonstration projects. Three parallel feasibility studies have been performed. They aimed at defining an integrated set of space enabled services to support the land release process in mine action, and at analyzing their added value, viability and sustainability. The needs of the mine action sector have been assessed and the potential contribution of space assets has been identified. Support services have been formulated. To test their fieldability, proofs of concept involving mine action end users in various operational field settings have been performed by each of the study teams. The economic viability has also been assessed. Whenever relevant and cost-effective, SADA aims at integrating Earth observation data, GNSS navigation and SatCom technologies with existing

  4. Prevalence of Gestational Diabetes and Risk of Progression to Type 2 Diabetes: a Global Perspective.

    Zhu, Yeyi; Zhang, Cuilin

    2016-01-01

    Despite the increasing epidemic of diabetes mellitus affecting populations at different life stages, the global burden of gestational diabetes mellitus (GDM) is not well assessed. Systematically synthesized data on global prevalence estimates of GDM are lacking, particularly among developing countries. The hyperglycemic intrauterine environment as exemplified in pregnancies complicated by GDM might not only reflect but also fuel the epidemic of type 2 diabetes mellitus (T2DM). We comprehensively reviewed available data in the past decade in an attempt to estimate the contemporary global prevalence of GDM by country and region. We reviewed the risk of progression from GDM to T2DM as well. Synthesized data demonstrate wide variations in both prevalence estimates of GDM and the risk of progression from GDM to T2DM. Direct comparisons of GDM burden across countries or regions are challenging given the great heterogeneity in screening approaches, diagnostic criteria, and underlying population characteristics. In this regard, collaborative efforts to estimate global GDM prevalence would be a large but important leap forward. Such efforts may have substantial public health implications in terms of informing health policy makers and healthcare providers for disease burden and for developing more targeted and effective diabetes prevention and management strategies globally.

  5. Assessing Asset Pricing Models Using Revealed Preference

    Jonathan B. Berk; Jules H. van Binsbergen

    2014-01-01

    We propose a new method of testing asset pricing models that relies on using quantities rather than prices or returns. We use the capital flows into and out of mutual funds to infer which risk model investors use. We derive a simple test statistic that allows us to infer, from a set of candidate models, the model that is closest to the model that investors use in making their capital allocation decisions. Using this methodology, we find that of the models most commonly used in the literature,...

  6. Self-consistent asset pricing models

    Malevergne, Y.; Sornette, D.

    2007-08-01

    We discuss the foundations of factor or regression models in the light of the self-consistency condition that the market portfolio (and more generally the risk factors) is (are) constituted of the assets whose returns it is (they are) supposed to explain. As already reported in several articles, self-consistency implies correlations between the return disturbances. As a consequence, the alphas and betas of the factor model are unobservable. Self-consistency leads to renormalized betas with zero effective alphas, which are observable with standard OLS regressions. When the conditions derived from internal consistency are not met, the model is necessarily incomplete, which means that some sources of risk cannot be replicated (or hedged) by a portfolio of stocks traded on the market, even for infinite economies. Analytical derivations and numerical simulations show that, for arbitrary choices of the proxy which are different from the true market portfolio, a modified linear regression holds with a non-zero value αi at the origin between an asset i's return and the proxy's return. Self-consistency also introduces “orthogonality” and “normality” conditions linking the betas, alphas (as well as the residuals) and the weights of the proxy portfolio. Two diagnostics based on these orthogonality and normality conditions are implemented on a basket of 323 assets which have been components of the S&P500 in the period from January 1990 to February 2005. These two diagnostics show interesting departures from dynamical self-consistency starting about 2 years before the end of the Internet bubble. Assuming that the CAPM holds with the self-consistency condition, the OLS method automatically obeys the resulting orthogonality and normality conditions and therefore provides a simple way to self-consistently assess the parameters of the model by using proxy portfolios made only of the assets which are used in the CAPM regressions. Finally, the factor decomposition with the

  7. A dynamic decision model for portfolio investment and assets management

    QIAN Edward Y.; FENG Ying; HIGGISION James

    2005-01-01

    This paper addresses a dynamic portfolio investment problem. It discusses how we can dynamically choose candidate assets, achieve the possible maximum revenue and reduce the risk to the minimum level. The paper generalizes Markowitz's portfolio selection theory and Sharpe's rule for investment decision. An analytical solution is presented to show how an institutional or individual investor can combine Markowitz's portfolio selection theory, generalized Sharpe's rule and Value-at-Risk(VaR) to find candidate assets and optimal level of position sizes for investment (dis-investment). The result shows that the generalized Markowitz's portfolio selection theory and generalized Sharpe's rule improve decision making for investment.

  8. Global assessment of extinction risk to populations of Sockeye salmon Oncorhynchus nerka.

    Peter S Rand

    Full Text Available BACKGROUND: Concern about the decline of wild salmon has attracted the attention of the International Union for the Conservation of Nature (IUCN. The IUCN applies quantitative criteria to assess risk of extinction and publishes its results on the Red List of Threatened Species. However, the focus is on the species level and thus may fail to show the risk to populations. The IUCN has adapted their criteria to apply to populations but there exist few examples of this type of assessment. We assessed the status of sockeye salmon Oncorhynchus nerka as a model for application of the IUCN population-level assessments and to provide the first global assessment of the status of an anadromous Pacific salmon. METHODS/PRINCIPAL FINDINGS: We found from demographic data that the sockeye salmon species is not presently at risk of extinction. We identified 98 independent populations with varying levels of risk within the species' range. Of these, 5 (5% are already extinct. We analyzed the risk for 62 out of 93 extant populations (67% and found that 17 of these (27% are at risk of extinction. The greatest number and concentration of extinct and threatened populations is in the southern part of the North American range, primarily due to overfishing, freshwater habitat loss, dams, hatcheries, and changing ocean conditions. CONCLUSIONS/SIGNIFICANCE: Although sockeye salmon are not at risk at the species-level, about one-third of the populations that we analyzed are at risk or already extinct. Without an understanding of risk to biodiversity at the level of populations, the biodiversity loss in salmon would be greatly underrepresented on the Red List. We urge government, conservation organizations, scientists and the public to recognize this limitation of the Red List. We also urge recognition that about one-third of sockeye salmon global population diversity is at risk of extinction or already extinct.

  9. Incarceration and Household Asset Ownership.

    Turney, Kristin; Schneider, Daniel

    2016-12-01

    A considerable literature documents the deleterious economic consequences of incarceration. However, little is known about the consequences of incarceration for household assets-a distinct indicator of economic well-being that may be especially valuable to the survival of low-income families-or about the spillover economic consequences of incarceration for families. In this article, we use longitudinal data from the Fragile Families and Child Wellbeing Study to examine how incarceration is associated with asset ownership among formerly incarcerated men and their romantic partners. Results, which pay careful attention to the social forces that select individuals into incarceration, show that incarceration is negatively associated with ownership of a bank account, vehicle, and home among men and that these consequences for asset ownership extend to the romantic partners of these men. These associations are concentrated among men who previously held assets. Results also show that post-incarceration changes in romantic relationships are an important pathway by which even short-term incarceration depletes assets.

  10. Comparison and Evaluation of Global Scale Studies of Vulnerability and Risks to Climate Change

    Muccione, Veruska; Allen, Simon K.; Huggel, Christian; Birkmann, Joern

    2015-04-01

    Understanding the present and future distribution of different climate change impacts and vulnerability to climate change is a central subject in the context of climate justice and international climate policy. Commonly, it is claimed that poor countries that contributed little to anthropogenic climate change are those most affected and most vulnerable to climate change. Such statements are backed by a number of global-scale vulnerability studies, which identified poor countries as most vulnerable. However, some studies have challenged this view, likewise highlighting the high vulnerability of richer countries. Overall, no consensus has been reached so far about which concept of vulnerability should be applied and what type of indicators should be considered. Furthermore, there is little agreement which specific countries are most vulnerable. This is a major concern in view of the need to inform international climate policy, all the more if such assessments should contribute to allocate climate adaptation funds as was invoked at some instances. We argue that next to the analysis of who is most vulnerable, it is also important to better understand and compare different vulnerability profiles assessed in present global studies. We perform a systematic literature review of global vulnerability assessments with the scope to highlight vulnerability distribution patterns. We then compare these distributions with global risk distributions in line with revised and adopted concepts by most recent IPCC reports. It emerges that improved differentiation of key drivers of risk and the understanding of different vulnerability profiles are important contributions, which can inform future adaptation policies at the regional and national level. This can change the perspective on, and basis for distributional issues in view of climate burden share, and therefore can have implications for UNFCCC financing instruments (e.g. Green Climate Fund). However, in order to better compare

  11. A global evolutionary and metabolic analysis of human obesity gene risk variants.

    Castillo, Joseph J; Hazlett, Zachary S; Orlando, Robert A; Garver, William S

    2017-09-05

    It is generally accepted that the selection of gene variants during human evolution optimized energy metabolism that now interacts with our obesogenic environment to increase the prevalence of obesity. The purpose of this study was to perform a global evolutionary and metabolic analysis of human obesity gene risk variants (110 human obesity genes with 127 nearest gene risk variants) identified using genome-wide association studies (GWAS) to enhance our knowledge of early and late genotypes. As a result of determining the mean frequency of these obesity gene risk variants in 13 available populations from around the world our results provide evidence for the early selection of ancestral risk variants (defined as selection before migration from Africa) and late selection of derived risk variants (defined as selection after migration from Africa). Our results also provide novel information for association of these obesity genes or encoded proteins with diverse metabolic pathways and other human diseases. The overall results indicate a significant differential evolutionary pattern for the selection of obesity gene ancestral and derived risk variants proposed to optimize energy metabolism in varying global environments and complex association with metabolic pathways and other human diseases. These results are consistent with obesity genes that encode proteins possessing a fundamental role in maintaining energy metabolism and survival during the course of human evolution. Copyright © 2017. Published by Elsevier B.V.

  12. Globalization

    Plum, Maja

    Globalization is often referred to as external to education - a state of affair facing the modern curriculum with numerous challenges. In this paper it is examined as internal to curriculum; analysed as a problematization in a Foucaultian sense. That is, as a complex of attentions, worries, ways...... of reasoning, producing curricular variables. The analysis is made through an example of early childhood curriculum in Danish Pre-school, and the way the curricular variable of the pre-school child comes into being through globalization as a problematization, carried forth by the comparative practices of PISA...

  13. Globalization

    F. Gerard Adams

    2008-01-01

    The rapid globalization of the world economy is causing fundamental changes in patterns of trade and finance. Some economists have argued that globalization has arrived and that the world is “flat†. While the geographic scope of markets has increased, the author argues that new patterns of trade and finance are a result of the discrepancies between “old†countries and “new†. As the differences are gradually wiped out, particularly if knowledge and technology spread worldwide, the t...

  14. The comet assay in Environmental Risk Assessment of marine pollutants: applications, assets and handicaps of surveying genotoxicity in non-model organisms.

    Martins, Marta; Costa, Pedro M

    2015-01-01

    Determining the genotoxic effects of pollutants has long been a priority in Environmental Risk Assessment (ERA) for coastal ecosystems, especially of complex areas such as estuaries and other confined waterbodies. The acknowledged link between DNA damage, mutagenicity and carcinogenicity to the exposure to certain toxicants has been responsible to the growing interest in determining the genotoxic effects of xenobiotics to wildlife as a measure of environmental risk. The comet assay, although widely employed in in vivo and in vitro toxicology, still holds many constraints in ERA, in large part owing to difficulties in obtaining conclusive cause-effect relationships from complex environments. Nevertheless, these challenges do not hinder the attempts to apply the alkaline comet assay on sentinel organisms, wild or subjected to bioassays in or ex situ (from fish to molluscs) as well to standardise protocols and establish general guidelines to the interpretation of findings. Fish have been regarded as an appealing subject due to the ease of performing the comet assay in whole blood. However, the application of the comet assay is becoming increasingly common in invertebrates (e.g. in molluscan haemocytes and solid tissues such as gills). Virtually all sorts of results have been obtained from the application of the comet assay in ERA (null, positive and inconclusive). However, it has become clear that interpreting DNA damage data from wild organisms is particularly challenging due to their ability to adapt to continuous environmental stressors, including toxicants. Also, the comet assay in non-model organisms for the purpose of ERA implies different constraints, assumptions and interpretation of findings, compared with the in vitro procedures from which most guidelines have been derived. This paper critically reviews the application of the comet assay in ERA, focusing on target organisms and tissues; protocol developments, case studies plus data handling and

  15. Compendium of best practice and innovation in asset management of water services infrastructure

    Bhagwan, J

    2008-05-01

    Full Text Available As part of a water services infrastructure asset management best practice and innovation initiative of the Global Water Research Coalition (GWRC), the Water Research Commission (WRC) agreed to contribute a selection of ten South African best...

  16. Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange

    Muhammad Iqbal

    2017-06-01

    Full Text Available Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum, confirming existence of asset growth anomaly. The analysis is extended at individual stock-level using fixed-effect panel regression in which asset growth effect remains significant even with controlling other variables of stock return determinants. This study also explores further whether asset growth can be included as risk factor. Employing two-stage cross-section regression in Fama and Macbeth (1973, the result aligns with some prior studies that asset growth is not a new risk factor; instead the anomaly is driven by mispricing due to investors’ overreaction and psychological bias. This result imply that asset growth anomaly is general phenomenon that can be found at mostly all stock market but in Indonesia market asset growth anomaly rise from investors’ overreaction, instead of  playing as a factor of risk.

  17. Analysis of Asset Growth Anomaly on Cross-Section Stock Returns: Evidence from Indonesia Stock Exchange

    Muhammad Iqbal

    2017-03-01

    Full Text Available Assorted types of market anomalies occur when stock prices deviate from the prediction of classical asset pricing theories. This study aims to examine asset growth anomaly where stocks with high asset growth will be followed by low returns in the subsequent periods. This study, using Indonesia Stock Exchanges data, finds that an equally-weighted low-growth portfolio outperforms high-growth portfolio by average 0.75% per month (9% per annum, confirming existence of asset growth anomaly. The analysis is extended at individual stock-level using fixed-effect panel regression in which asset growth effect remains significant even with controlling other variables of stock return determinants. This study also explores further whether asset growth can be included as risk factor. Employing two-stage cross-section regression in Fama and Macbeth (1973, the result aligns with some prior studies that asset growth is not a new risk factor; instead the anomaly is driven by mispricing due to investors’ overreaction and psychological bias. This result imply that asset growth anomaly is general phenomenon that can be found at mostly all stock market but in Indonesia market asset growth anomaly rise from investors’ overreaction, instead of  playing as a factor of risk.

  18. ASSET guidelines. Revised 1991 Edition

    1991-12-01

    The present publication is an updated version of the IAEA Assessment of Safety Significant Events Team (ASSET) Guidelines, IAEA-TECDOC-573, published in 1990. Sections 5 and 6 include revised definitions and investigation guidelines for identification of both direct and root causes. These revisions were recommended by a Consultants Meeting held in Vienna on 3-7 December 1990. This guidance is not intended to infringe an expert's prerogative to investigate additional items. Its main purpose is to provide a basic structure and ensure consistency in the assessments. Use of the ASSET guidelines should also facilitate comparison between the observations made in different nuclear power plants and harmonize the reporting of generic ASSET results. The guidelines should always be used with a critical attitude and a view to possible improvements

  19. ASSETS STRUCTURE AT CREDIT UNIONS

    Tiplea Augustin

    2011-12-01

    Full Text Available Balance is a static tool for assessing the entity's position, profit and loss on one hand and cash flow statement on the other hand. These are dynamic situations on one hand showing the effectiveness or ineffectiveness of the total consumption of resources ( profit and loss and on the other hand entity's business viability (by cash flows. As reflection of financial position, the balance, established at the end of the reporting period (called a financial year, describes separately items of assets, liabilities and equity of the company. Assets are resources controlled by the enterprise as a result of past events and from which is expected to generate future economic benefits for the enterprise. The economic benefits correspond to a production potential, a possibility for conversion into cash or a reduction in output capacity of funds (cost reduction that an asset contributes, directly or indirectly to a company-specific cash flow.

  20. Distribution of major health risks: findings from the Global Burden of Disease study.

    Anthony Rodgers

    2004-10-01

    Full Text Available Most analyses of risks to health focus on the total burden of their aggregate effects. The distribution of risk-factor-attributable disease burden, for example by age or exposure level, can inform the selection and targeting of specific interventions and programs, and increase cost-effectiveness.For 26 selected risk factors, expert working groups conducted comprehensive reviews of data on risk-factor exposure and hazard for 14 epidemiological subregions of the world, by age and sex. Age-sex-subregion-population attributable fractions were estimated and applied to the mortality and burden of disease estimates from the World Health Organization Global Burden of Disease database. Where possible, exposure levels were assessed as continuous measures, or as multiple categories. The proportion of risk-factor-attributable burden in different population subgroups, defined by age, sex, and exposure level, was estimated. For major cardiovascular risk factors (blood pressure, cholesterol, tobacco use, fruit and vegetable intake, body mass index, and physical inactivity 43%-61% of attributable disease burden occurred between the ages of 15 and 59 y, and 87% of alcohol-attributable burden occurred in this age group. Most of the disease burden for continuous risks occurred in those with only moderately raised levels, not among those with levels above commonly used cut-points, such as those with hypertension or obesity. Of all disease burden attributable to being underweight during childhood, 55% occurred among children 1-3 standard deviations below the reference population median, and the remainder occurred among severely malnourished children, who were three or more standard deviations below median.Many major global risks are widely spread in a population, rather than restricted to a minority. Population-based strategies that seek to shift the whole distribution of risk factors often have the potential to produce substantial reductions in disease burden.

  1. Speaking of Securitization of Financial Assets

    Munteanu Bogdan

    2017-01-01

    Full Text Available The history of securitization dates back to “Middle Ages”, as it has emerged into today’s refinements under various ways of obtaining liquidity to finance business growth. As today many blame securitization and low interest rates for the American crisis, this paper aims at shedding light upon what this technique is, what are its benefits and why the past economic growth expanded based on pools of pledged assets. The main risk of securitization is that the systematic risk (beta of the market is less relevant then the assets’ inner risks (alpha, as this technique creates tailor made products with very specific features. The relevance of securitization will remain open for future analysis in America as basis for creating investment resources to sustain development after the gloomy days of September 2008.

  2. SUBSEQUENTLY AQCUIRED ASSETS AS FIDUCIARY SECURITY ON BANK LOANS

    Trisadini Prasastinah Usanti

    2016-05-01

    Full Text Available Collateral in terms of subsequently acquired assets namely subsequently acquired credit might be charged with fiduciary security. This collateral is not considered ideal regarding the high risk a bank must take. To minimize the risks, the bank analyzes the credit thoroughly, impose fiduciary security officials perfectly and performs monitoring of credits regularly to avoid misconduct committed by the debtor. If a default occurs, the bank will take over the assets. Nevertheless, the problems of execution on the subsequently acquired credits might arise due to debtor’s default and bad debts to the third party. Consequently, subsequently acquired assets as collateral provides as additional collateral. Keywords: bank, subsequently acquired objects, fiduciary, security, loans.

  3. Intellectual Capital and Intangible Assets Analysis and Valuation

    Ion Anghel

    2008-03-01

    Full Text Available Today the intellectual capital is a key factor in company’s profitability. Two major forces have driven the high performance workplace over the past two decades: globalization and increasing in technological changes. In this environment, the intellectual capital and intangible assets is fundamental to success. In the new economic competition, knowledge assets provide a sustainable competitive advantage. The measurement is fundamental to support management decision in allocation investment and investor’s decision regarding the value versus price. In our research we consider a group of Romanian listed companies on Bucharest Stock Exchange and analyze the importance of intangible value into the total market value of the equity. From accounting point of view the importance of intangible assets is very low but from the market evidence was indicated 47% importance of intangible value in total market value for the Romanian listed companies.

  4. Coping with global environmental change, disasters and security. Threats, challenges, vulnerabilities and risks

    Brauch, Hans Guenter [Freie Univ. Berlin (Germany). Dept. of Political and Social Sciences; UNU-EHS, Bonn (DE). College of Associated Scientists and Advisors (CASA); Oswald Spring, Ursula [National Univ. of Mexico, Cuernavaca (MX). Regional Multidisciplinary Research Centre (CRIM); Mesjasz, Czeslaw [Cracow Univ. of Exonomics (Poland). Faculty of Management; Grin, John [Amsterdam Univ. (Netherlands). Dept. of Political Science; Dutch Knowledge network for Systems Innovations and Transitions (KSI), Amsterdam (Netherlands); Kameri-Mbote, Patricia [Strathmore Univ., Nairobi (Kenya). Dept. of Law; International Environmental Law Research Centre, Nairobi (Kenya); Chourou, Bechir [Univ. of Tunis-Carthage, Hammam-Chatt (Tunisia); Dunay, Pal [Geneva Centre for Security Policy (Switzerland). International Training Course in Security Policy; Birkmann, Joern (eds.) [United Nations Univ. (UNU), Bonn (DE). Inst. for Environment and Human Security (EHS)

    2011-07-01

    This policy-focused Global Environmental and Human Security Handbook for the Anthropo-cene (GEHSHA) addresses new security threats, challenges, vulnerabilities and risks posed by global environmental change and disasters. In 6 forewords, 5 preface essays 95 peer reviewed chapcountries analyse in 10 parts concepts of military and political hard security and economic, social, environmental soft security with a regional focus on the Near East, North and Sub-Sahara Africa and Asia and on hazards in urban centres. The major focus is on coping with global environmental change: climate change, desertification, water, food and health and with hazards and strategies on social vulnerability and resilience building and scientific, international, regional and national political strategies, policies and measures including early warning of conflicts and hazards. The book proposes a political geo-ecology and discusses a 'Fourth Green Revolution' for the Anthropocene era of earth history. (orig.)

  5. A global building inventory for earthquake loss estimation and risk management

    Jaiswal, K.; Wald, D.; Porter, K.

    2010-01-01

    We develop a global database of building inventories using taxonomy of global building types for use in near-real-time post-earthquake loss estimation and pre-earthquake risk analysis, for the U.S. Geological Survey's Prompt Assessment of Global Earthquakes for Response (PAGER) program. The database is available for public use, subject to peer review, scrutiny, and open enhancement. On a country-by-country level, it contains estimates of the distribution of building types categorized by material, lateral force resisting system, and occupancy type (residential or nonresidential, urban or rural). The database draws on and harmonizes numerous sources: (1) UN statistics, (2) UN Habitat's demographic and health survey (DHS) database, (3) national housing censuses, (4) the World Housing Encyclopedia and (5) other literature. ?? 2010, Earthquake Engineering Research Institute.

  6. Assessing global exposure and vulnerability towards natural hazards: the Disaster Risk Index

    P. Peduzzi

    2009-07-01

    Full Text Available This paper presents a model of factors influencing levels of human losses from natural hazards at the global scale, for the period 1980–2000. This model was designed for the United Nations Development Programme as a building stone of the Disaster Risk Index (DRI, which aims at monitoring the evolution of risk. Assessing what countries are most at risk requires considering various types of hazards, such as droughts, floods, cyclones and earthquakes. Before assessing risk, these four hazards were modelled using GIS and overlaid with a model of population distribution in order to extract human exposure. Human vulnerability was measured by crossing exposure with selected socio-economic parameters. The model evaluates to what extent observed past losses are related to population exposure and vulnerability. Results reveal that human vulnerability is mostly linked with country development level and environmental quality. A classification of countries is provided, as well as recommendations on data improvement for future use of the model.

  7. An updated prediction model of the global risk of cardiovascular disease in HIV-positive persons

    Friis-Møller, Nina; Ryom, Lene; Smith, Colette

    2016-01-01

    ,663 HIV-positive persons from 20 countries in Europe and Australia, who were free of CVD at entry into the Data-collection on Adverse Effects of Anti-HIV Drugs (D:A:D) study. Cox regression models (full and reduced) were developed that predict the risk of a global CVD endpoint. The predictive performance...... significantly predicted risk more accurately than the recalibrated Framingham model (Harrell's c-statistic of 0.791, 0.783 and 0.766 for the D:A:D full, D:A:D reduced, and Framingham models respectively; p models also more accurately predicted five-year CVD-risk for key prognostic subgroups...... to quantify risk and to guide preventive care....

  8. 31 CFR 594.310 - Specially designated global terrorist; SDGT.

    2010-07-01

    ... (Continued) OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY GLOBAL TERRORISM SANCTIONS REGULATIONS General Definitions § 594.310 Specially designated global terrorist; SDGT. The term specially...

  9. Environmental and Health Benefits and Risks of a Global Hydrogen Economy

    Dubey, M.; Horowitz, L. W.; Rahn, T. A.; Kinnison, D. E.

    2003-12-01

    Rapid development in hydrogen fuel-cell technologies will create a strong impetus for a massive hydrogen supply and distribution infrastructure in the coming decades. Hydrogen provides an efficient energy carrier that promises to enhance urban and regional air quality that will benefit human health. It could also reduce risks of climate change if large-scale hydrogen production by renewable or nuclear energy sources becomes viable. While it is well known that the byproduct of energy produced from hydrogen is water vapor, it is not well known that the storage and transfer of hydrogen is inevitably accompanied by measurable leakage of hydrogen. Unintended consequences of hydrogen leakage include reduction in global oxidative capacity, changes in tropospheric ozone, and increase in stratospheric water that would exacerbate halogen induced ozone losses as well as impact the earth's radiation budget and climate. Stratospheric ozone depletion would increase exposure to harmful ultraviolet radiation and increased risk to melanoma. We construct plausible global hydrogen energy use and leak scenarios and assess their impacts using global 3-D simulations by the Model for Ozone And Related Trace species (MOZART). The hydrogen fluxes and photochemistry in our model successfully reproduce the contemporary hydrogen cycle as observed by a network of remote global stations. Our intent is to determine environmentally tolerable leak rates and also facilitate a gradual phasing in of a hydrogen economy over the next several decades as the elimination of the use of halocarbons gradually reduces halogen induced stratospheric ozone loss rates. We stress that the future evolution of microbial soil sink of hydrogen that determines its current lifetime (about 2 years) is the principal source of uncertainty in our assessment. We propose global monitoring of hydrogen and its deuterium content to define a baseline and track its budget to responsibly prepare for a global hydrogen economy.

  10. Reaping Environmental Benefits of a Global Hydrogen Economy: How Large, Fow Soon, and at What Risks?

    Dubey, M. K.; Horowitz, L. W.; Rahn, T. A.; Kinnison, D. E.

    2004-12-01

    The Western world has taken an aggressive posture to transition to a global hydrogen economy. While numerous technical challenges need to be addressed to achieve this it is timely to examine the environmental benefits and risks of this transition. Hydrogen provides an efficient energy carrier that promises to enhance urban and regional air quality that will benefit human health. It could also reduce risks of climate change if large-scale hydrogen production by renewable or nuclear energy sources becomes viable. While it is well known that the byproduct of energy produced from hydrogen is water vapor, it is not well known that the storage and transfer of hydrogen is inevitably accompanied by measurable leakage of hydrogen. Unintended consequences of hydrogen leakage include reduction in global oxidative capacity, changes in tropospheric ozone, and increase in stratospheric water that would exacerbate halogen induced ozone losses as well as impact the earth's radiation budget and climate. We construct plausible global hydrogen energy use and leak scenarios and assess their impacts using global 3-D simulations by the Model for Ozone And Related Trace species (MOZART). The hydrogen fluxes and photochemistry in our model successfully reproduce the contemporary hydrogen cycle as observed by a network of remote global stations. Our intent is to determine environmentally tolerable leak rates and also facilitate a gradual phasing in of a hydrogen economy over the next several decades as the elimination of the use of halocarbons gradually reduces halogen induced stratospheric ozone loss rates. We stress that the leak rates in global hydrogen infrastructure and the future evolution of microbial soil sink of hydrogen that determines its current lifetime (about 2 years) are principal sources of uncertainty in our assessment.

  11. Multi-Model Projections of River Flood Risk in Europe under Global Warming

    Lorenzo Alfieri

    2018-01-01

    Full Text Available Knowledge on the costs of natural disasters under climate change is key information for planning adaptation and mitigation strategies of future climate policies. Impact models for large scale flood risk assessment have made leaps forward in the past few years, thanks to the increased availability of high resolution climate projections and of information on local exposure and vulnerability to river floods. Yet, state-of-the-art flood impact models rely on a number of input data and techniques that can substantially influence their results. This work compares estimates of river flood risk in Europe from three recent case studies, assuming global warming scenarios of 1.5, 2, and 3 degrees Celsius from pre-industrial levels. The assessment is based on comparing ensemble projections of expected damage and population affected at country level. Differences and common points between the three cases are shown, to point out main sources of uncertainty, strengths, and limitations. In addition, the multi-model comparison helps identify regions with the largest agreement on specific changes in flood risk. Results show that global warming is linked to substantial increase in flood risk over most countries in Central and Western Europe at all warming levels. In Eastern Europe, the average change in flood risk is smaller and the multi-model agreement is poorer.

  12. Integrasi Manajemen Asset dan Liabilitas Perbankan Syari’ah

    Parmujianto Parmujianto

    2017-04-01

    Full Text Available Asset management focus and liability is to coordinate asset-liability portfolio of the bank in order to maximize profits for the banks and the results are distributed to the shareholders in the long term by taking into account liquidity needs and prudence. Prastimoyo (1997 says that the focus or objectives of management of assets and liabilities is to optimize revenue and keep the risk does not exceed the tolerable limit, while also maximizing the market price of the company's equity, while according to Bambang (2000, the management of assets and liabilities has a function and kenijakan in implementing a pricing strategy, both in the areas of lending and funding, in general, the responsibility of ALCO is to manage positions and allocation of funds that banks provided liquidity, maximize profit and minimize risk. On the other hand, Islamic banking has the characteristics berbada with conventional banks which do not recognize interest but for the results except that there are some business activities that exist only on Islamic banking such as trade and pawn so that it impacts extensive technical on banking activities one of which is the management asset-liabilit. So this paper will describe how the ALM policy applied to Islamic banking.

  13. Global Hotspots of Conflict Risk between Food Security and Biodiversity Conservation

    Molotoks, Amy; Dawson, Terence Peter

    2017-01-01

    The global challenges of food security and biodiversity are rarely addressed together, though recently there has been an increasing awareness that the two issues are closely related. The majority of land available for agriculture is already used for food production, but despite the productivity gains, one in nine people worldwide are classified as food insecure. There is an increasing risk that addressing food insecurity through methods such as agricultural expansion orintensification could l...

  14. Public risk-reduction measures: cost-effectiveness from a global point-of-view

    Oliveira, L.F.S. de; Motta Barros, E.B. da; Fleming, P.V.; Rosa, L.P.

    1985-05-01

    A review of systemic or global approach to cost-effectiveness analysis of risk-reduction measures is presented, and its advantages and limitations are discussed. The method is applied for problem of the cost-effectiveness of increasing the Angra 3 reactor containment wall thickness from 60cm to 180cm thick, in case of a direct commercial aircraft crash on it. (Author) [pt

  15. Seismic and wind vulnerability assessment for the GAR-13 global risk assessment

    Yamín Lacouture, Luis Eduardo; Hurtado Chaparro, Alvaro Ivan; Barbat Barbat, Horia Alejandro; Cardona Arboleda, Omar Dario

    2014-01-01

    A general methodology to evaluate vulnerability functions suitable for a probabilistic global risk assessment is proposed. The methodology is partially based in the methodological approach of the Multi-hazard Loss Estimation Methodology (Hazus) developed by the Federal Emergency Management Agency (FEMA). The vulnerability assessment process considers the resolution, information and limitations established for both the hazard and exposure models adopted. Seismic and wind vulnerability function...

  16. A global assessment of wildfire risks to human and environmental water security

    Robinne, François-Nicolas; Parisien, Marc-André; Flannigan, Mike; Miller, Carol; Bladon, Kevin D.

    2017-04-01

    Extreme wildfire events extensively affect hydrosystem stability and generate an important threat to the reliability of the water supply for human and natural communities. While actively studied at the watershed scale, the development of a global vision of wildfire risk to water security has only been undertaken recently, pointing at potential water security concerns in an era of global changes. In order to address this concern, we propose a global-scale analysis of the wildfire risk to surface water supplies based on the Driving forces-Pressures-States-Impacts-Responses (DPSIR) framework. This framework relies on the cause-and-effect relationships existing between the five categories of the DPSIR chain. Based on the literature, we gathered an extensive set of spatial indicators relevant to fire-induced hydrological hazards and water consumption patterns by human and natural communities. Each indicator was assigned a DPSIR category. Then, we collapsed the information in each category using a principal component analysis in order to extract the most relevant pixel-based information provided by each spatial indicator. Finally, we compiled our five categories using an additive indexation process to produce a spatially-explicit index of the wildfire-water risk (WWR). For comparison purposes, we aggregated index scores by global hydrological regions, or hydrobelts, for analysis. Overall, our results show a distinct pattern of medium-to-high risk levels in areas where sizeable wildfire activity, water resources, and water consumption are concomitant, which mainly encompasses temperate and sub-tropical zones. A closer look at hydrobelts reveals differences in the factors driving the risk, with fire activity being the primary factor of risk in the circumboreal forest, and freshwater resource density being prevalent in tropical areas. We also identified major urban areas across the world whose source waters should be protected from extreme fire events, particularly when

  17. [Integrated Management Area of Vascular Risk: A new organisational model for global control of risk factors].

    Armario, P; Jericó, C; Vila, L; Freixa, R; Martin-Castillejos, C; Rotllan, M

    Cardiovascular disease (CVD), is a major cause of morbidity and mortality that increases the cost of care. Currently there is a low degree of control of the main cardiovascular risk factors, although we have a good therapeutic arsenal. To achieve the improvement of this reality, a good coordination and multidisciplinary participation are essential. The development of new organizational models such as the Integrated Management Area of Vascular Risk can facilitate the therapeutic harmonization and unification of the health messages offered by different levels of care, based on clinical practice guidelines, in order to provide patient-centred integrated care. Copyright © 2016 SEH-LELHA. Publicado por Elsevier España, S.L.U. All rights reserved.

  18. The risk of water scarcity at different levels of global warming

    Schewe, Jacob; Sharpe, Simon

    2015-04-01

    Water scarcity is a threat to human well-being and economic development in many countries today. Future climate change is expected to exacerbate the global water crisis by reducing renewable freshwater resources different world regions, many of which are already dry. Studies of future water scarcity often focus on most-likely, or highest-confidence, scenarios. However, multi-model projections of water resources reveal large uncertainty ranges, which are due to different types of processes (climate, hydrology, human) and are therefore not easy to reduce. Thus, central estimates or multi-model mean results may be insufficient to inform policy and management. Here we present an alternative, risk-based approach. We use an ensemble of multiple global climate and hydrological models to quantify the likelihood of crossing a given water scarcity threshold under different levels of global warming. This approach allows assessing the risk associated with any particular, pre-defined threshold (or magnitude of change that must be avoided), regardless of whether it lies in the center or in the tails of the uncertainty distribution. We show applications of this method on the country and river basin scale, illustrate the effects of societal processes on the resulting risk estimates, and discuss the further potential of this approach for research and stakeholder dialogue.

  19. Globalization and eating disorder risk: Peer influence, perceived social norms, and adolescent disordered eating in Fiji

    Gerbasi, Margaret E.; Richards, Lauren K.; Thomas, Jennifer J.; Agnew-Blais, Jessica C.; Thompson-Brenner, Heather; Gilman, Stephen E.; Becker, Anne E.

    2014-01-01

    Objective The increasing global health burden imposed by eating disorders warrants close examination of social exposures associated with globalization that potentially elevate risk during the critical developmental period of adolescence in low- and middle-income countries (LMICs). The study aim was to investigate the association of peer influence and perceived social norms with adolescent eating pathology in Fiji, a LMIC undergoing rapid social change. Method We measured peer influence on eating concerns (with the Inventory of Peer Influence on Eating Concerns; IPIEC), perceived peer norms associated with disordered eating and body concerns, perceived community cultural norms, and individual cultural orientations in a representative sample of school-going ethnic Fijian adolescent girls (n=523). We then developed a multivariable linear regression model to examine their relation to eating pathology (measured by the Eating Disorder Examination-Questionnaire; EDE-Q). Results We found independent and statistically significant associations between both IPIEC scores and our proxy for perceived social norms specific to disordered eating (both p disordered eating may elevate risk for disordered eating in Fiji, during the critical developmental period of adolescence. Replication and extension of these research findings in other populations undergoing rapid social transition—and where globalization is also influencing local social norms—may enrich etiologic models and inform strategies to mitigate risk. PMID:25139374

  20. Globalization and eating disorder risk: peer influence, perceived social norms, and adolescent disordered eating in Fiji.

    Gerbasi, Margaret E; Richards, Lauren K; Thomas, Jennifer J; Agnew-Blais, Jessica C; Thompson-Brenner, Heather; Gilman, Stephen E; Becker, Anne E

    2014-11-01

    The increasing global health burden imposed by eating disorders warrants close examination of social exposures associated with globalization that potentially elevate risk during the critical developmental period of adolescence in low- and middle-income countries (LMICs). The study aim was to investigate the association of peer influence and perceived social norms with adolescent eating pathology in Fiji, a LMIC undergoing rapid social change. We measured peer influence on eating concerns (with the Inventory of Peer Influence on Eating Concerns; IPIEC), perceived peer norms associated with disordered eating and body concerns, perceived community cultural norms, and individual cultural orientations in a representative sample of school-going ethnic Fijian adolescent girls (n = 523). We then developed a multivariable linear regression model to examine their relation to eating pathology (measured by the Eating Disorder Examination-Questionnaire; EDE-Q). We found independent and statistically significant associations between both IPIEC scores and our proxy for perceived social norms specific to disordered eating (both p peer influence as well as perceived social norms relevant to disordered eating may elevate risk for disordered eating in Fiji, during the critical developmental period of adolescence. Replication and extension of these research findings in other populations undergoing rapid social transition--and where globalization is also influencing local social norms--may enrich etiologic models and inform strategies to mitigate risk. © 2014 Wiley Periodicals, Inc.

  1. Economic growth, urbanization, globalization, and the risks of emerging infectious diseases in China: A review.

    Wu, Tong; Perrings, Charles; Kinzig, Ann; Collins, James P; Minteer, Ben A; Daszak, Peter

    2017-02-01

    Three interrelated world trends may be exacerbating emerging zoonotic risks: income growth, urbanization, and globalization. Income growth is associated with rising animal protein consumption in developing countries, which increases the conversion of wild lands to livestock production, and hence the probability of zoonotic emergence. Urbanization implies the greater concentration and connectedness of people, which increases the speed at which new infections are spread. Globalization-the closer integration of the world economy-has facilitated pathogen spread among countries through the growth of trade and travel. High-risk areas for the emergence and spread of infectious disease are where these three trends intersect with predisposing socioecological conditions including the presence of wild disease reservoirs, agricultural practices that increase contact between wildlife and livestock, and cultural practices that increase contact between humans, wildlife, and livestock. Such an intersection occurs in China, which has been a "cradle" of zoonoses from the Black Death to avian influenza and SARS. Disease management in China is thus critical to the mitigation of global zoonotic risks.

  2. Risk Assessment Method for Offshore Structure Based on Global Sensitivity Analysis

    Zou Tao

    2012-01-01

    Full Text Available Based on global sensitivity analysis (GSA, this paper proposes a new risk assessment method for an offshore structure design. This method quantifies all the significances among random variables and their parameters at first. And by comparing the degree of importance, all minor factors would be negligible. Then, the global uncertainty analysis work would be simplified. Global uncertainty analysis (GUA is an effective way to study the complexity and randomness of natural events. Since field measured data and statistical results often have inevitable errors and uncertainties which lead to inaccurate prediction and analysis, the risk in the design stage of offshore structures caused by uncertainties in environmental loads, sea level, and marine corrosion must be taken into account. In this paper, the multivariate compound extreme value distribution model (MCEVD is applied to predict the extreme sea state of wave, current, and wind. The maximum structural stress and deformation of a Jacket platform are analyzed and compared with different design standards. The calculation result sufficiently demonstrates the new risk assessment method’s rationality and security.

  3. Asset management in theory and practice.

    Mace, J D

    1998-01-01

    Managing capital-intensive imaging environments continues to be a challenge for nearly all administrators. Asset management, the strategic management of equipment inventory, must include planning, assessment, procurement, utilization review, maintenance, repair and disposal of equipment to reduce costs and improve efficiency. It must involve some shared risk between the facility and the provider, whether an original equipment manufacturer (OEM) or independent service organization (ISO). An absence of risk in the arrangement implies the provider is offering service management or consulting. A case study reports on three hospitals in the OhioHealth system. Their immediate goal, as they began to investigate asset management: cut costs immediately. A cross-functional team from the three hospitals began its investigation of various options, including working with ISOs, OEMs and development of inhouse clinical engineering. After developing a process to evaluate vendors, the team was able to score each against their cost-reduction potential, quality and implementation skills. The team narrowed its selection quickly to two multivendor service providers. An initial contract guaranteed savings of 20 percent of the annual budget, with a projected two to five percent additional savings. OEM relationships were moved to a time-and-materials basis, and ISOs were used in selected areas. In addition, the internal inhouse clinical engineering services group was moved into a "first call" approach in some areas. That expanded role resulted in savings and improved response time. The process, although not without its problems, was viewed favorably overall.

  4. Demography, Capital Flows and Asset Allocation over the Life-cycle

    Mann, Katja; Davenport, Margaret

    2016-01-01

    This paper studies the effect of population aging on portfolio choice, asset prices and international asset trades. In a multi-period OLG model, we analyze how an increase in longevity or a decrease in fertility in a country affects the demand for safe and risky assets. In a closed economy, given a fixed supply, the riskfree rate falls and the risk premium rises, because retirees prefer to hold a larger share of safe assets in their portfolio than working-age households. In a financially inte...

  5. Comprehensive transportation asset management : making a business case and prioritizing assets for inclusion in formal asset management programs.

    2011-12-01

    Several agencies are applying asset management principles as a business tool and paradigm to help them define goals and prioritize agency resources in decision making. Previously, transportation asset management (TAM) has focused more on big ticke...

  6. Saving-Based Asset Pricing

    Dreyer, Johannes Kabderian; Schneider, Johannes; T. Smith, William

    2013-01-01

    This paper explores the implications of a novel class of preferences for the behavior of asset prices. Following a suggestion by Marshall (1920), we entertain the possibility that people derive utility not only from consumption, but also from the very act of saving. These ‘‘saving-based’’ prefere...

  7. Asset tracking in harsh environments

    O'Neal, E.S.

    2009-01-01

    Current economic times require tight control of all assets / inventory and processes a company manages. These items if managed correctly and timely can mean the difference between success and failure of a company. Cost savings in hard economic times are essential to allow a company to utilize its assets to the fullest potential by eliminating duplication and waste. Accurate process management leads to greater customer satisfaction and loyalty. Many industries and processes have believed it to be impossible to track their products or assets using bar-codes due to the unique conditions of their environment; whether it is high temperature, rough handling or chemicals. That has now changed. Companies specializing in identification methods have stepped up to the challenge and have overcome many obstacles of the past. It's no longer a paper or plastic bar-code world. The presentation will be broken down into four parts: 1) The differences between Asset and ID tracking; 2) Why does a company need to bar-code?; 3) The objections many companies use for not bar-coding; and, 4) What's new in bar-coding? Case study handouts and a reference list of various companies including software, labeling and attachment techniques will be available at the end of the presentation. (author)

  8. Asset tracking in harsh environments

    O' Neal, E.S. [Infosight Corp., Chillicothe, OH (United States)

    2009-07-01

    Current economic times require tight control of all assets / inventory and processes a company manages. These items if managed correctly and timely can mean the difference between success and failure of a company. Cost savings in hard economic times are essential to allow a company to utilize its assets to the fullest potential by eliminating duplication and waste. Accurate process management leads to greater customer satisfaction and loyalty. Many industries and processes have believed it to be impossible to track their products or assets using bar-codes due to the unique conditions of their environment; whether it is high temperature, rough handling or chemicals. That has now changed. Companies specializing in identification methods have stepped up to the challenge and have overcome many obstacles of the past. It's no longer a paper or plastic bar-code world. The presentation will be broken down into four parts: 1) The differences between Asset and ID tracking; 2) Why does a company need to bar-code?; 3) The objections many companies use for not bar-coding; and, 4) What's new in bar-coding? Case study handouts and a reference list of various companies including software, labeling and attachment techniques will be available at the end of the presentation. (author)

  9. The global limits and population at risk of soil-transmitted helminth infections in 2010

    Pullan Rachel L

    2012-04-01

    Full Text Available Abstract Background Understanding the global limits of transmission of soil-transmitted helminth (STH species is essential for quantifying the population at-risk and the burden of disease. This paper aims to define these limits on the basis of environmental and socioeconomic factors, and additionally seeks to investigate the effects of urbanisation and economic development on STH transmission, and estimate numbers at-risk of infection with Ascaris lumbricoides, Trichuris trichiura and hookworm in 2010. Methods A total of 4,840 geo-referenced estimates of infection prevalence were abstracted from the Global Atlas of Helminth Infection and related to a range of environmental factors to delineate the biological limits of transmission. The relationship between STH transmission and urbanisation and economic development was investigated using high resolution population surfaces and country-level socioeconomic indicators, respectively. Based on the identified limits, the global population at risk of STH transmission in 2010 was estimated. Results High and low land surface temperature and extremely arid environments were found to limit STH transmission, with differential limits identified for each species. There was evidence that the prevalence of A. lumbricoides and of T. trichiura infection was statistically greater in peri-urban areas compared to urban and rural areas, whilst the prevalence of hookworm was highest in rural areas. At national levels, no clear socioeconomic correlates of transmission were identified, with the exception that little or no infection was observed for countries with a per capita gross domestic product greater than US$ 20,000. Globally in 2010, an estimated 5.3 billion people, including 1.0 billion school-aged children, lived in areas stable for transmission of at least one STH species, with 69% of these individuals living in Asia. A further 143 million (31.1 million school-aged children lived in areas of unstable

  10. Contribution of occupational risk factors to the global burden of disease - a summary of findings

    Fingerhut, M.; Driscoll, T.; Nelson, D.I.; Concha-Barrientos, M.; Punnett, L.; Pruss-Ustin, A.; Steenland, K.; Leigh, J.; Corvalan, C. [NIOSH, Cincinnati, OH (United States)

    2005-07-01

    The World Health Organization conducted a comparative risk assessment to ascertain the contributions of 26 risk factors to the global burden of disease. Five occupational risk factors accounted for an estimated 37% of back pain, 16% of hearing loss, 13% of chronic obstructive pulmonary disease, 11% of asthma, 9% of lung cancer, 8% of injuries, and 2% of leukemia worldwide. Virtually all cases of silicosis, asbestosis, and coal workers' pneumoconiosis were work-related. Contaminated sharps injuries accounted for 40% of hepatitis B, 40% of hepatitis C, and 4% of HIV/AlDS infections among health care workers. Data limitations, primarily in developing countries, prevented the inclusion of other major occupational risk factors. These selected occupational risks accounted for about 850,000 deaths and 24 million years of healthy life lost each year. The deaths due to these selected occupational risk factors constitute only 43% of the International Labour Organization's estimate of 2 million deaths worldwide due to work-related risks.

  11. Prediction of future asset prices

    Seong, Ng Yew; Hin, Pooi Ah; Ching, Soo Huei

    2014-12-01

    This paper attempts to incorporate trading volumes as an additional predictor for predicting asset prices. Denoting r(t) as the vector consisting of the time-t values of the trading volume and price of a given asset, we model the time-(t+1) asset price to be dependent on the present and l-1 past values r(t), r(t-1), ....., r(t-1+1) via a conditional distribution which is derived from a (2l+1)-dimensional power-normal distribution. A prediction interval based on the 100(α/2)% and 100(1-α/2)% points of the conditional distribution is then obtained. By examining the average lengths of the prediction intervals found by using the composite indices of the Malaysia stock market for the period 2008 to 2013, we found that the value 2 appears to be a good choice for l. With the omission of the trading volume in the vector r(t), the corresponding prediction interval exhibits a slightly longer average length, showing that it might be desirable to keep trading volume as a predictor. From the above conditional distribution, the probability that the time-(t+1) asset price will be larger than the time-t asset price is next computed. When the probability differs from 0 (or 1) by less than 0.03, the observed time-(t+1) increase in price tends to be negative (or positive). Thus the above probability has a good potential of being used as a market indicator in technical analysis.

  12. Asset Allocation to Cover a Region of Piracy

    2011-09-01

    1087-1092. 8. Kirkpatrick, S., Optimization by Simulated Annealing. Science, 1983. 220(4598): p. 671-680. 9. Daskin , M. S., A bibliography for some...... a uniform piracy risk and where some areas are more vulnerable than others. Simulated annealing was used to allocate the patrolling naval assets

  13. Asset Mapping: A Course Assignment and Community Assessment

    Crozier, Mary; Melchior, Florence

    2013-01-01

    Asset mapping is a relatively new data collection strategy to identify services, staff capacity, programs, resources, values, and other protective factors in a geographic area that can be juxtaposed to risk factors when initiating community planning. A substance abuse prevention course for undergraduates added an assignment of assessing community…

  14. Asset Attribution Stability and Portfolio Construction: An Educational Example

    Chong, James T.; Jennings, William P.; Phillips, G. Michael

    2014-01-01

    This paper illustrates how a third statistic from asset pricing models, the R-squared statistic, may have information that can help in portfolio construction. Using a traditional CAPM model in comparison to an 18-factor Arbitrage Pricing Style Model, a portfolio separation test is conducted. Portfolio returns and risk metrics are compared using…

  15. A Data Mining Approach to Modelling of Water Supply Assets

    Babovic, V.; Drecourt, J.; Keijzer, M.

    2002-01-01

    supply assets are mainly situated underground, and therefore not visible and under the influence of various highly unpredictable forces. This paper proposes the use of advanced data mining methods in order to determine the risks of pipe bursts. For example, analysis of the database of already occurred...

  16. A stochastic-programming approach to integrated asset and liability ...

    This increase in complexity has provided an impetus for the investigation into integrated asset- and liability-management frameworks that could realistically address dynamic portfolio allocation in a risk-controlled way. In this paper the authors propose a multi-stage dynamic stochastic-programming model for the integrated ...

  17. A comparative analysis of returns of various financial asset classes ...

    kirstam

    2014-12-09

    Dec 9, 2014 ... returns on all asset classes should conceptually more or less converge. The results from ..... Based on monthly means, clearly cash underperforms both equities and bonds as might be ..... valuation models. Conclusion ... does not explore the complexities of the risk-parity style of investment, which is left for.

  18. Yield risks in global maize markets: Historical evidence and projections in key regions of the world

    Nelson B. Villoria

    2018-03-01

    Full Text Available Simultaneous worldwide crop failures stemming from a more unstable climate may reduce the scope for international trade to compensate food shortages and stabilize food prices across the various regions of the world. Understanding the effects of changes in crop productivity on global markets requires knowledge about the extent to which crop yields may be systematically related across producing and consuming centers. This short communication contributes to this knowledge by investigating the potential changes in the strength of two key sources of supply risks in global maize markets: yield variance and cross-country yield correlation. We focus on the largest producing and consuming countries of the world. We capitalize on yield projections from the Global Gridded Crop Model Intercomparison project. Exploratory analysis of the skill of the underlying GGCMI models in reproducing key moments of the distribution of observed yields reveals that they overstate observed variances but faithfully reproduce observed patterns of cross-country correlations. We find no evidence of an increase in the degree of cross-country dependency of maize yields. We also find a higher incidence of what would be considered extremely low maize yields by present-time standards stemming from the projected downward trend in yields levels toward mid-century. The weak dependency of maize yields across countries, an the possibility of reducing the higher incidence of extremes through policies aimed to reverse the climate-induced downward trends in yields, suggest that international trade can become a valuable tool to ameliorate the effects of more unstable crop yields. Keywords: Extremely low yields, Maize markets, Food prices, Agricultural yields, Systemic risk in agriculture, Global agriculture, AgMIP, Global gridded crop model intercomparison

  19. Global projections of drought hazard in a warming climate: a prime for disaster risk management

    Carrão, Hugo; Naumann, Gustavo; Barbosa, Paulo

    2018-03-01

    Projections of drought hazard ( dH) changes have been mapped from five bias-corrected climate models and analyzed at the global level under three representative concentration pathways (RCPs). The motivation for this study is the observation that drought risk is increasing globally and the effective regulation of prevention and adaptation measures depends on dH magnitude and its distribution for the future. Based on the Weighted Anomaly of Standardized Precipitation index, dH changes have been assessed for mid-(2021-2050) and late-century (2071-2099). With a few exceptions, results show a likely increase in global dH between the historical years (1971-2000) and both future time periods under all RCPs. Notwithstanding this worsening trend, it was found that projections of dH changes for most regions are neither robust nor significant in the near-future. By the end of the century, greater increases are projected for RCPs describing stronger radiative forcing. Under RCP8.5, statistically significant dH changes emerge for global Mediterranean ecosystems and the Amazon region, which are identified as possible hotspots for future water security issues. Taken together, projections of dH changes point towards two dilemmas: (1) in the near-term, stake-holders are left worrying about projected increasing dH over large regions, but lack of actionable model agreement to take effective decisions related to local prevention and adaptation initiatives; (2) in the long-term, models demonstrate remarkable agreement, but stake-holders lack actionable knowledge to manage potential impacts far distant from actual human-dominated environments. We conclude that the major challenge for risk management is not to adapt human populations or their activities to dH changes, but to progress on global initiatives that mitigate their impacts in the whole carbon cycle by late-century.

  20. Recreational Assets in the State of Iowa

    Iowa State University GIS Support and Research Facility — This dataset is meant to be a comprehensive database of recreational assets in public areas. Recreational assets are considered amenities provided to the public for...

  1. Current approaches to assessing intangible assets

    Урусова, Зінаїда Петрівна

    2013-01-01

    The article analyzes methods of assessing intangible assets in Ukraine as well as in accordance with International Financial Reporting Standards. Contemporary approaches to assessing intangible assets have been researched.

  2. Asset Management Guidebook for Safety and Operations

    2012-09-01

    A primary product of this research was the Asset Management Guidebook that TxDOT division and district : personnel can use to help them define, develop, and implement asset management across all levels : particularly as it relates to establishing ...

  3. Asset management inventory and data collection.

    2009-10-01

    An efficient and accurate inventory of a state highway agencys assets, along with the means to assess the condition : of those assets and model their performance, is critical to enabling an agency to make informed investment decisions : in a Trans...

  4. Investment in Transportation Assets : Briefing Paper

    2017-11-21

    Highways, streets, railroad lines, transit systems, ports, and other transportation fixed assets enable the movement of people and goods. Investment in transportation fixed assets helps build and maintain these critical resources. The pattern of tran...

  5. A New Breed of Database System: Volcano Global Risk Identification and Analysis Project (VOGRIPA)

    Crosweller, H. S.; Sparks, R. S.; Siebert, L.

    2009-12-01

    VOGRIPA originated as part of the Global Risk Identification Programme (GRIP) that is being co-ordinated from the Earth Institute of Columbia University under the auspices of the United Nations and World Bank. GRIP is a five-year programme aiming at improving global knowledge about risk from natural hazards and is part of the international response to the catastrophic 2004 Asian tsunami. VOGRIPA is also a formal IAVCEI project. The objectives of VOGRIPA are to create a global database of volcanic activity, hazards and vulnerability information that can be analysed to identify locations at high risk from volcanism, gaps in knowledge about hazards and risk, and will allow scientists and disaster managers at specific locations to analyse risk within a global context of systematic information. It is this added scope of risk and vulnerability as well as hazard which sets VOGRIPA apart from most previous databases. The University of Bristol is the central coordinating centre for the project, which is an international partnership including the Smithsonian Institution, the Geological Survey of Japan, the Earth Observatory of Singapore (Chris Newhall), the British Geological Survey, the University of Buffalo (SUNY) and Munich Re. The partnership is intended to grow and any individuals or institutions who are able to contribute resources to VOGRIPA objectives are welcome to participate. Work has already begun (funded principally by Munich Re) on populating a database of large magnitude explosive eruptions reaching back to the Quaternary, with extreme-value statistics being used to evaluate the magnitude-frequency relationship of such events, and also an assessment of how the quality of records affect the results. The following 4 years of funding from the European Research Council for VOGRIPA will be used to establish further international collaborations in order to develop different aspects of the database, with the data being accessible online once it is sufficiently

  6. Communicating global cardiovascular risk: are icon arrays better than numerical estimates in improving understanding, recall and perception of risk?

    Ruiz, Jorge G; Andrade, Allen D; Garcia-Retamero, Rocio; Anam, Ramanakumar; Rodriguez, Remberto; Sharit, Joseph

    2013-12-01

    Experts recommend that adults have their global cardiovascular risk assessed. We investigated whether icon arrays increase understanding, recall, perception of CVR, and behavioral intent as compared with numerical information. Male outpatient veterans, at an intermediate to high cardiovascular risk participated in a randomized controlled trial of a computer tutorial presenting individualized risk. Message format was presented in 3 formats: percentages, frequencies, and frequencies with icon arrays. We assessed understanding immediately (T1) and recall at 20 min (T2) and 2 weeks (T3) after the intervention. We assessed perceptions of importance/seriousness, intent to adhere, and self-efficacy at T1. Self-reported adherence was assessed at T3. One-hundred and twenty male veterans participated. Age, education, race, health literacy and numeracy were comparable at baseline. There were no differences in understanding at T1 [p = .31] and recall at T3 [p = .10]. Accuracy was inferior with frequencies with icon arrays than percentages or frequencies at T2 [p ≤ .001]. There were no differences in perception of seriousness and importance for heart disease, behavioral intent, self-efficacy, actual adherence and satisfaction. Icon arrays may impair short-term recall of CVR. Icon arrays will not necessarily result in better understanding and recall of medical risk in all patients. Published by Elsevier Ireland Ltd.

  7. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks, 1990-2015: a systematic analysis for the Global Burden of Disease Study 2015.

    2016-10-08

    The Global Burden of Diseases, Injuries, and Risk Factors Study 2015 provides an up-to-date synthesis of the evidence for risk factor exposure and the attributable burden of disease. By providing national and subnational assessments spanning the past 25 years, this study can inform debates on the importance of addressing risks in context. We used the comparative risk assessment framework developed for previous iterations of the Global Burden of Disease Study to estimate attributable deaths, disability-adjusted life-years (DALYs), and trends in exposure by age group, sex, year, and geography for 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks from 1990 to 2015. This study included 388 risk-outcome pairs that met World Cancer Research Fund-defined criteria for convincing or probable evidence. We extracted relative risk and exposure estimates from randomised controlled trials, cohorts, pooled cohorts, household surveys, census data, satellite data, and other sources. We used statistical models to pool data, adjust for bias, and incorporate covariates. We developed a metric that allows comparisons of exposure across risk factors-the summary exposure value. Using the counterfactual scenario of theoretical minimum risk level, we estimated the portion of deaths and DALYs that could be attributed to a given risk. We decomposed trends in attributable burden into contributions from population growth, population age structure, risk exposure, and risk-deleted cause-specific DALY rates. We characterised risk exposure in relation to a Socio-demographic Index (SDI). Between 1990 and 2015, global exposure to unsafe sanitation, household air pollution, childhood underweight, childhood stunting, and smoking each decreased by more than 25%. Global exposure for several occupational risks, high body-mass index (BMI), and drug use increased by more than 25% over the same period. All risks jointly evaluated in 2015 accounted for 57·8% (95% CI 56

  8. Global, regional, and national comparative risk assessment of 79 behavioural, environmental and occupational, and metabolic risks or clusters of risks in 188 countries, 1990-2013: a systematic analysis for the Global Burden of Disease Study 2013.

    Forouzanfar, Mohammad H; Alexander, Lily; Anderson, H Ross; Bachman, Victoria F; Biryukov, Stan; Brauer, Michael; Burnett, Richard; Casey, Daniel; Coates, Matthew M; Cohen, Aaron; Delwiche, Kristen; Estep, Kara; Frostad, Joseph J; Astha, K C; Kyu, Hmwe H; Moradi-Lakeh, Maziar; Ng, Marie; Slepak, Erica Leigh; Thomas, Bernadette A; Wagner, Joseph; Aasvang, Gunn Marit; Abbafati, Cristiana; Abbasoglu Ozgoren, Ayse; Abd-Allah, Foad; Abera, Semaw F; Aboyans, Victor; Abraham, Biju; Abraham, Jerry Puthenpurakal; Abubakar, Ibrahim; Abu-Rmeileh, Niveen M E; Aburto, Tania C; Achoki, Tom; Adelekan, Ademola; Adofo, Koranteng; Adou, Arsène K; Adsuar, José C; Afshin, Ashkan; Agardh, Emilie E; Al Khabouri, Mazin J; Al Lami, Faris H; Alam, Sayed Saidul; Alasfoor, Deena; Albittar, Mohammed I; Alegretti, Miguel A; Aleman, Alicia V; Alemu, Zewdie A; Alfonso-Cristancho, Rafael; Alhabib, Samia; Ali, Raghib; Ali, Mohammed K; Alla, François; Allebeck, Peter; Allen, Peter J; Alsharif, Ubai; Alvarez, Elena; Alvis-Guzman, Nelson; Amankwaa, Adansi A; Amare, Azmeraw T; Ameh, Emmanuel A; Ameli, Omid; Amini, Heresh; Ammar, Walid; Anderson, Benjamin O; Antonio, Carl Abelardo T; Anwari, Palwasha; Argeseanu Cunningham, Solveig; Arnlöv, Johan; Arsenijevic, Valentina S Arsic; Artaman, Al; Asghar, Rana J; Assadi, Reza; Atkins, Lydia S; Atkinson, Charles; Avila, Marco A; Awuah, Baffour; Badawi, Alaa; Bahit, Maria C; Bakfalouni, Talal; Balakrishnan, Kalpana; Balalla, Shivanthi; Balu, Ravi Kumar; Banerjee, Amitava; Barber, Ryan M; Barker-Collo, Suzanne L; Barquera, Simon; Barregard, Lars; Barrero, Lope H; Barrientos-Gutierrez, Tonatiuh; Basto-Abreu, Ana C; Basu, Arindam; Basu, Sanjay; Basulaiman, Mohammed O; Batis Ruvalcaba, Carolina; Beardsley, Justin; Bedi, Neeraj; Bekele, Tolesa; Bell, Michelle L; Benjet, Corina; Bennett, Derrick A; Benzian, Habib; Bernabé, Eduardo; Beyene, Tariku J; Bhala, Neeraj; Bhalla, Ashish; Bhutta, Zulfiqar A; Bikbov, Boris; Bin Abdulhak, Aref A; Blore, Jed D; Blyth, Fiona M; Bohensky, Megan A; Bora Başara, Berrak; Borges, Guilherme; Bornstein, Natan M; Bose, Dipan; Boufous, Soufiane; Bourne, Rupert R; Brainin, Michael; Brazinova, Alexandra; Breitborde, Nicholas J; Brenner, Hermann; Briggs, Adam D M; Broday, David M; Brooks, Peter M; Bruce, Nigel G; Brugha, Traolach S; Brunekreef, Bert; Buchbinder, Rachelle; Bui, Linh N; Bukhman, Gene; Bulloch, Andrew G; Burch, Michael; Burney, Peter G J; Campos-Nonato, Ismael R; Campuzano, Julio C; Cantoral, Alejandra J; Caravanos, Jack; Cárdenas, Rosario; Cardis, Elisabeth; Carpenter, David O; Caso, Valeria; Castañeda-Orjuela, Carlos A; Castro, Ruben E; Catalá-López, Ferrán; Cavalleri, Fiorella; Çavlin, Alanur; Chadha, Vineet K; Chang, Jung-Chen; Charlson, Fiona J; Chen, Honglei; Chen, Wanqing; Chen, Zhengming; Chiang, Peggy P; Chimed-Ochir, Odgerel; Chowdhury, Rajiv; Christophi, Costas A; Chuang, Ting-Wu; Chugh, Sumeet S; Cirillo, Massimo; Claßen, Thomas K D; Colistro, Valentina; Colomar, Mercedes; Colquhoun, Samantha M; Contreras, Alejandra G; Cooper, Cyrus; Cooperrider, Kimberly; Cooper, Leslie T; Coresh, Josef; Courville, Karen J; Criqui, Michael H; Cuevas-Nasu, Lucia; Damsere-Derry, James; Danawi, Hadi; Dandona, Lalit; Dandona, Rakhi; Dargan, Paul I; Davis, Adrian; Davitoiu, Dragos V; Dayama, Anand; de Castro, E Filipa; De la Cruz-Góngora, Vanessa; De Leo, Diego; de Lima, Graça; Degenhardt, Louisa; del Pozo-Cruz, Borja; Dellavalle, Robert P; Deribe, Kebede; Derrett, Sarah; Des Jarlais, Don C; Dessalegn, Muluken; deVeber, Gabrielle A; Devries, Karen M; Dharmaratne, Samath D; Dherani, Mukesh K; Dicker, Daniel; Ding, Eric L; Dokova, Klara; Dorsey, E Ray; Driscoll, Tim R; Duan, Leilei; Durrani, Adnan M; Ebel, Beth E; Ellenbogen, Richard G; Elshrek, Yousef M; Endres, Matthias; Ermakov, Sergey P; Erskine, Holly E; Eshrati, Babak; Esteghamati, Alireza; Fahimi, Saman; Faraon, Emerito Jose A; Farzadfar, Farshad; Fay, Derek F J; Feigin, Valery L; Feigl, Andrea B; Fereshtehnejad, Seyed-Mohammad; Ferrari, Alize J; Ferri, Cleusa P; Flaxman, Abraham D; Fleming, Thomas D; Foigt, Nataliya; Foreman, Kyle J; Paleo, Urbano Fra; Franklin, Richard C; Gabbe, Belinda; Gaffikin, Lynne; Gakidou, Emmanuela; Gamkrelidze, Amiran; Gankpé, Fortuné G; Gansevoort, Ron T; García-Guerra, Francisco A; Gasana, Evariste; Geleijnse, Johanna M; Gessner, Bradford D; Gething, Pete; Gibney, Katherine B; Gillum, Richard F; Ginawi, Ibrahim A M; Giroud, Maurice; Giussani, Giorgia; Goenka, Shifalika; Goginashvili, Ketevan; Gomez Dantes, Hector; Gona, Philimon; Gonzalez de Cosio, Teresita; González-Castell, Dinorah; Gotay, Carolyn C; Goto, Atsushi; Gouda, Hebe N; Guerrant, Richard L; Gugnani, Harish C; Guillemin, Francis; Gunnell, David; Gupta, Rahul; Gupta, Rajeev; Gutiérrez, Reyna A; Hafezi-Nejad, Nima; Hagan, Holly; Hagstromer, Maria; Halasa, Yara A; Hamadeh, Randah R; Hammami, Mouhanad; Hankey, Graeme J; Hao, Yuantao; Harb, Hilda L; Haregu, Tilahun Nigatu; Haro, Josep Maria; Havmoeller, Rasmus; Hay, Simon I; Hedayati, Mohammad T; Heredia-Pi, Ileana B; Hernandez, Lucia; Heuton, Kyle R; Heydarpour, Pouria; Hijar, Martha; Hoek, Hans W; Hoffman, Howard J; Hornberger, John C; Hosgood, H Dean; Hoy, Damian G; Hsairi, Mohamed; Hu, Guoqing; Hu, Howard; Huang, Cheng; Huang, John J; Hubbell, Bryan J; Huiart, Laetitia; Husseini, Abdullatif; Iannarone, Marissa L; Iburg, Kim M; Idrisov, Bulat T; Ikeda, Nayu; Innos, Kaire; Inoue, Manami; Islami, Farhad; Ismayilova, Samaya; Jacobsen, Kathryn H; Jansen, Henrica A; Jarvis, Deborah L; Jassal, Simerjot K; Jauregui, Alejandra; Jayaraman, Sudha; Jeemon, Panniyammakal; Jensen, Paul N; Jha, Vivekanand; Jiang, Fan; Jiang, Guohong; Jiang, Ying; Jonas, Jost B; Juel, Knud; Kan, Haidong; Kany Roseline, Sidibe S; Karam, Nadim E; Karch, André; Karema, Corine K; Karthikeyan, Ganesan; Kaul, Anil; Kawakami, Norito; Kazi, Dhruv S; Kemp, Andrew H; Kengne, Andre P; Keren, Andre; Khader, Yousef S; Khalifa, Shams Eldin Ali Hassan; Khan, Ejaz A; Khang, Young-Ho; Khatibzadeh, Shahab; Khonelidze, Irma; Kieling, Christian; Kim, Daniel; Kim, Sungroul; Kim, Yunjin; Kimokoti, Ruth W; Kinfu, Yohannes; Kinge, Jonas M; Kissela, Brett M; Kivipelto, Miia; Knibbs, Luke D; Knudsen, Ann Kristin; Kokubo, Yoshihiro; Kose, M Rifat; Kosen, Soewarta; Kraemer, Alexander; Kravchenko, Michael; Krishnaswami, Sanjay; Kromhout, Hans; Ku, Tiffany; Kuate Defo, Barthelemy; Kucuk Bicer, Burcu; Kuipers, Ernst J; Kulkarni, Chanda; Kulkarni, Veena S; Kumar, G Anil; Kwan, Gene F; Lai, Taavi; Lakshmana Balaji, Arjun; Lalloo, Ratilal; Lallukka, Tea; Lam, Hilton; Lan, Qing; Lansingh, Van C; Larson, Heidi J; Larsson, Anders; Laryea, Dennis O; Lavados, Pablo M; Lawrynowicz, Alicia E; Leasher, Janet L; Lee, Jong-Tae; Leigh, James; Leung, Ricky; Levi, Miriam; Li, Yichong; Li, Yongmei; Liang, Juan; Liang, Xiaofeng; Lim, Stephen S; Lindsay, M Patrice; Lipshultz, Steven E; Liu, Shiwei; Liu, Yang; Lloyd, Belinda K; Logroscino, Giancarlo; London, Stephanie J; Lopez, Nancy; Lortet-Tieulent, Joannie; Lotufo, Paulo A; Lozano, Rafael; Lunevicius, Raimundas; Ma, Jixiang; Ma, Stefan; Machado, Vasco M P; MacIntyre, Michael F; Magis-Rodriguez, Carlos; Mahdi, Abbas A; Majdan, Marek; Malekzadeh, Reza; Mangalam, Srikanth; Mapoma, Christopher C; Marape, Marape; Marcenes, Wagner; Margolis, David J; Margono, Christopher; Marks, Guy B; Martin, Randall V; Marzan, Melvin B; Mashal, Mohammad T; Masiye, Felix; Mason-Jones, Amanda J; Matsushita, Kunihiro; Matzopoulos, Richard; Mayosi, Bongani M; Mazorodze, Tasara T; McKay, Abigail C; McKee, Martin; McLain, Abigail; Meaney, Peter A; Medina, Catalina; Mehndiratta, Man Mohan; Mejia-Rodriguez, Fabiola; Mekonnen, Wubegzier; Melaku, Yohannes A; Meltzer, Michele; Memish, Ziad A; Mendoza, Walter; Mensah, George A; Meretoja, Atte; Mhimbira, Francis Apolinary; Micha, Renata; Miller, Ted R; Mills, Edward J; Misganaw, Awoke; Mishra, Santosh; Mohamed Ibrahim, Norlinah; Mohammad, Karzan A; Mokdad, Ali H; Mola, Glen L; Monasta, Lorenzo; Montañez Hernandez, Julio C; Montico, Marcella; Moore, Ami R; Morawska, Lidia; Mori, Rintaro; Moschandreas, Joanna; Moturi, Wilkister N; Mozaffarian, Dariush; Mueller, Ulrich O; Mukaigawara, Mitsuru; Mullany, Erin C; Murthy, Kinnari S; Naghavi, Mohsen; Nahas, Ziad; Naheed, Aliya; Naidoo, Kovin S; Naldi, Luigi; Nand, Devina; Nangia, Vinay; Narayan, K M Venkat; Nash, Denis; Neal, Bruce; Nejjari, Chakib; Neupane, Sudan P; Newton, Charles R; Ngalesoni, Frida N; Ngirabega, Jean de Dieu; Nguyen, Grant; Nguyen, Nhung T; Nieuwenhuijsen, Mark J; Nisar, Muhammad I; Nogueira, José R; Nolla, Joan M; Nolte, Sandra; Norheim, Ole F; Norman, Rosana E; Norrving, Bo; Nyakarahuka, Luke; Oh, In-Hwan; Ohkubo, Takayoshi; Olusanya, Bolajoko O; Omer, Saad B; Opio, John Nelson; Orozco, Ricardo; Pagcatipunan, Rodolfo S; Pain, Amanda W; Pandian, Jeyaraj D; Panelo, Carlo Irwin A; Papachristou, Christina; Park, Eun-Kee; Parry, Charles D; Paternina Caicedo, Angel J; Patten, Scott B; Paul, Vinod K; Pavlin, Boris I; Pearce, Neil; Pedraza, Lilia S; Pedroza, Andrea; Pejin Stokic, Ljiljana; Pekericli, Ayfer; Pereira, David M; Perez-Padilla, Rogelio; Perez-Ruiz, Fernando; Perico, Norberto; Perry, Samuel A L; Pervaiz, Aslam; Pesudovs, Konrad; Peterson, Carrie B; Petzold, Max; Phillips, Michael R; Phua, Hwee Pin; Plass, Dietrich; Poenaru, Dan; Polanczyk, Guilherme V; Polinder, Suzanne; Pond, Constance D; Pope, C Arden; Pope, Daniel; Popova, Svetlana; Pourmalek, Farshad; Powles, John; Prabhakaran, Dorairaj; Prasad, Noela M; Qato, Dima M; Quezada, Amado D; Quistberg, D Alex A; Racapé, Lionel; Rafay, Anwar; Rahimi, Kazem; Rahimi-Movaghar, Vafa; Rahman, Sajjad Ur; Raju, Murugesan; Rakovac, Ivo; Rana, Saleem M; Rao, Mayuree; Razavi, Homie; Reddy, K Srinath; Refaat, Amany H; Rehm, Jürgen; Remuzzi, Giuseppe; Ribeiro, Antonio L; Riccio, Patricia M; Richardson, Lee; Riederer, Anne; Robinson, Margaret; Roca, Anna; Rodriguez, Alina; Rojas-Rueda, David; Romieu, Isabelle; Ronfani, Luca; Room, Robin; Roy, Nobhojit; Ruhago, George M; Rushton, Lesley; Sabin, Nsanzimana; Sacco, Ralph L; Saha, Sukanta; Sahathevan, Ramesh; Sahraian, Mohammad Ali; Salomon, Joshua A; Salvo, Deborah; Sampson, Uchechukwu K; Sanabria, Juan R; Sanchez, Luz Maria; Sánchez-Pimienta, Tania G; Sanchez-Riera, Lidia; Sandar, Logan; Santos, Itamar S; Sapkota, Amir; Satpathy, Maheswar; Saunders, James E; Sawhney, Monika; Saylan, Mete I; Scarborough, Peter; Schmidt, Jürgen C; Schneider, Ione J C; Schöttker, Ben; Schwebel, David C; Scott, James G; Seedat, Soraya; Sepanlou, Sadaf G; Serdar, Berrin; Servan-Mori, Edson E; Shaddick, Gavin; Shahraz, Saeid; Levy, Teresa Shamah; Shangguan, Siyi; She, Jun; Sheikhbahaei, Sara; Shibuya, Kenji; Shin, Hwashin H; Shinohara, Yukito; Shiri, Rahman; Shishani, Kawkab; Shiue, Ivy; Sigfusdottir, Inga D; Silberberg, Donald H; Simard, Edgar P; Sindi, Shireen; Singh, Abhishek; Singh, Gitanjali M; Singh, Jasvinder A; Skirbekk, Vegard; Sliwa, Karen; Soljak, Michael; Soneji, Samir; Søreide, Kjetil; Soshnikov, Sergey; Sposato, Luciano A; Sreeramareddy, Chandrashekhar T; Stapelberg, Nicolas J C; Stathopoulou, Vasiliki; Steckling, Nadine; Stein, Dan J; Stein, Murray B; Stephens, Natalie; Stöckl, Heidi; Straif, Kurt; Stroumpoulis, Konstantinos; Sturua, Lela; Sunguya, Bruno F; Swaminathan, Soumya; Swaroop, Mamta; Sykes, Bryan L; Tabb, Karen M; Takahashi, Ken; Talongwa, Roberto T; Tandon, Nikhil; Tanne, David; Tanner, Marcel; Tavakkoli, Mohammad; Te Ao, Braden J; Teixeira, Carolina M; Téllez Rojo, Martha M; Terkawi, Abdullah S; Texcalac-Sangrador, José Luis; Thackway, Sarah V; Thomson, Blake; Thorne-Lyman, Andrew L; Thrift, Amanda G; Thurston, George D; Tillmann, Taavi; Tobollik, Myriam; Tonelli, Marcello; Topouzis, Fotis; Towbin, Jeffrey A; Toyoshima, Hideaki; Traebert, Jefferson; Tran, Bach X; Trasande, Leonardo; Trillini, Matias; Trujillo, Ulises; Dimbuene, Zacharie Tsala; Tsilimbaris, Miltiadis; Tuzcu, Emin Murat; Uchendu, Uche S; Ukwaja, Kingsley N; Uzun, Selen B; van de Vijver, Steven; Van Dingenen, Rita; van Gool, Coen H; van Os, Jim; Varakin, Yuri Y; Vasankari, Tommi J; Vasconcelos, Ana Maria N; Vavilala, Monica S; Veerman, Lennert J; Velasquez-Melendez, Gustavo; Venketasubramanian, N; Vijayakumar, Lakshmi; Villalpando, Salvador; Violante, Francesco S; Vlassov, Vasiliy Victorovich; Vollset, Stein Emil; Wagner, Gregory R; Waller, Stephen G; Wallin, Mitchell T; Wan, Xia; Wang, Haidong; Wang, JianLi; Wang, Linhong; Wang, Wenzhi; Wang, Yanping; Warouw, Tati S; Watts, Charlotte H; Weichenthal, Scott; Weiderpass, Elisabete; Weintraub, Robert G; Werdecker, Andrea; Wessells, K Ryan; Westerman, Ronny; Whiteford, Harvey A; Wilkinson, James D; Williams, Hywel C; Williams, Thomas N; Woldeyohannes, Solomon M; Wolfe, Charles D A; Wong, John Q; Woolf, Anthony D; Wright, Jonathan L; Wurtz, Brittany; Xu, Gelin; Yan, Lijing L; Yang, Gonghuan; Yano, Yuichiro; Ye, Pengpeng; Yenesew, Muluken; Yentür, Gökalp K; Yip, Paul; Yonemoto, Naohiro; Yoon, Seok-Jun; Younis, Mustafa Z; Younoussi, Zourkaleini; Yu, Chuanhua; Zaki, Maysaa E; Zhao, Yong; Zheng, Yingfeng; Zhou, Maigeng; Zhu, Jun; Zhu, Shankuan; Zou, Xiaonong; Zunt, Joseph R; Lopez, Alan D; Vos, Theo; Murray, Christopher J

    2015-12-05

    The Global Burden of Disease, Injuries, and Risk Factor study 2013 (GBD 2013) is the first of a series of annual updates of the GBD. Risk factor quantification, particularly of modifiable risk factors, can help to identify emerging threats to population health and opportunities for prevention. The GBD 2013 provides a timely opportunity to update the comparative risk assessment with new data for exposure, relative risks, and evidence on the appropriate counterfactual risk distribution. Attributable deaths, years of life lost, years lived with disability, and disability-adjusted life-years (DALYs) have been estimated for 79 risks or clusters of risks using the GBD 2010 methods. Risk-outcome pairs meeting explicit evidence criteria were assessed for 188 countries for the period 1990-2013 by age and sex using three inputs: risk exposure, relative risks, and the theoretical minimum risk exposure level (TMREL). Risks are organised into a hierarchy with blocks of behavioural, environmental and occupational, and metabolic risks at the first level of the hierarchy. The next level in the hierarchy includes nine clusters of related risks and two individual risks, with more detail provided at levels 3 and 4 of the hierarchy. Compared with GBD 2010, six new risk factors have been added: handwashing practices, occupational exposure to trichloroethylene, childhood wasting, childhood stunting, unsafe sex, and low glomerular filtration rate. For most risks, data for exposure were synthesised with a Bayesian meta-regression method, DisMod-MR 2.0, or spatial-temporal Gaussian process regression. Relative risks were based on meta-regressions of published cohort and intervention studies. Attributable burden for clusters of risks and all risks combined took into account evidence on the mediation of some risks such as high body-mass index (BMI) through other risks such as high systolic blood pressure and high cholesterol. All risks combined account for 57·2% (95% uncertainty interval

  9. Flood risk and adaptation strategies under climate change and urban expansion: A probabilistic analysis using global data

    Muis, S.; Güneralp, B.; Jongman, B.; Aerts, J.C.J.H.; Ward, P.J.

    2015-01-01

    An accurate understanding of flood risk and its drivers is crucial for effective risk management. Detailed risk projections, including uncertainties, are however rarely available, particularly in developing countries. This paper presents a method that integrates recent advances in global-scale

  10. Nonconsensual clinical trials: a foreseeable risk of offshoring under global corporatism.

    Spielman, Bethany

    2015-03-01

    This paper explores the connection of offshoring and outsourcing to nonconsensual global pharmaceutical trials in low-income countries. After discussing reasons why the topic of nonconsensual offshored clinical trials may be overlooked in bioethics literature, I suggest that when pharmaceutical corporations offshore clinical trials today, nonconsensual experiments are often foreseeable and not simply the result of aberrant ethical conduct by a few individuals. Offshoring of clinical trials is structured so that experiments can be presented as health care in a unique form of outsourcing from the host country to pharmaceutical corporations. Bioethicists' assessments of the risks and potential benefits of offshore corporate pharmaceutical trials should therefore systematically include not only the hoped for benefits and the risks of the experimental drug but also the risk that subjects will not have consented, as well as the broader international consequences of nonconsensual experimentation.

  11. Risk and Derivative Price

    Yusuke Osaki

    2007-01-01

    We consider an asset market traded three types of assets: the risk–free asset, the market portfolio and derivatives written on the market portfolio return. We determine a sufficient condition to guarantee that noise risk monotonically changes their derivatives. The condition is that Arrow–Pratt absolute risk aversion is decreasing and convex.

  12. CONTRADICTORY ASPECTS ASSESSMENT ON INTANGIBLE ASSETS

    Ecaterina Necşulescu

    2011-01-01

    In Romania, the evaluation of intangible assets is rarely used due to extremely poor casuistry. From a sample of 100 companies we analyzed, only 4.5% revealed the existence of intangible assets worth less than 3% of total assets and none of the companies has not reviewed the assets. In crisis conditions, the study concludes that companies value decreases (bad will), and while economic growth increases the value of companies (good will). An effective leadership in the crisis assessment may be ...

  13. Empirical estimation of default and asset correlation of large corporates and banks in India

    Bandyopadhyay, Arindam; Ganguly, Sonali

    2011-01-01

    Estimation of default and asset correlation is crucial for banks to manage and measure portfolio credit risk. This would require studying the risk profile of the banks’ entire credit portfolio and developing the appropriate methodology for the estimation of default dependence. Measurement and management of correlation risk in the credit portfolio of banks has also become an important area of concern for bank regulators worldwide. The BCBS (2006) has specifically included an asset correlation ...

  14. Creating a spatially-explicit index: a method for assessing the global wildfire-water risk

    Robinne, François-Nicolas; Parisien, Marc-André; Flannigan, Mike; Miller, Carol; Bladon, Kevin D.

    2017-04-01

    The wildfire-water risk (WWR) has been defined as the potential for wildfires to adversely affect water resources that are important for downstream ecosystems and human water needs for adequate water quantity and quality, therefore compromising the security of their water supply. While tools and methods are numerous for watershed-scale risk analysis, the development of a toolbox for the large-scale evaluation of the wildfire risk to water security has only started recently. In order to provide managers and policy-makers with an adequate tool, we implemented a method for the spatial analysis of the global WWR based on the Driving forces-Pressures-States-Impacts-Responses (DPSIR) framework. This framework relies on the cause-and-effect relationships existing between the five categories of the DPSIR chain. As this approach heavily relies on data, we gathered an extensive set of spatial indicators relevant to fire-induced hydrological hazards and water consumption patterns by human and natural communities. When appropriate, we applied a hydrological routing function to our indicators in order to simulate downstream accumulation of potentially harmful material. Each indicator was then assigned a DPSIR category. We collapsed the information in each category using a principal component analysis in order to extract the most relevant pixel-based information provided by each spatial indicator. Finally, we compiled our five categories using an additive indexation process to produce a spatially-explicit index of the WWR. A thorough sensitivity analysis has been performed in order to understand the relationship between the final risk values and the spatial pattern of each category used during the indexation. For comparison purposes, we aggregated index scores by global hydrological regions, or hydrobelts, to get a sense of regional DPSIR specificities. This rather simple method does not necessitate the use of complex physical models and provides a scalable and efficient tool

  15. Modelling global distribution, risk and mitigation strategies of floating plastic pollution

    van Sebille, Erik; Wilcox, Chris; Sherman, Peter; Hardesty, Britta Denise; Lavender Law, Kara

    2016-04-01

    Microplastic debris floating at the ocean surface can harm marine life. Understanding the severity of this harm requires knowledge of plastic abundance and distributions. Dozens of expeditions measuring microplastics have been carried out since the 1970s, but they have primarily focused on the North Pacific and North Atlantic accumulation zones, with much sparser coverage elsewhere. Here, we use the largest dataset of microplastic measurements assembled to date to assess the confidence we can have in global estimates of microplastic abundance and mass. We use a rigorous statistical framework to standardise a global dataset of plastic marine debris measured using surface-trawling plankton nets and couple this with three different ocean circulation models to spatially interpolate the observations. Our estimates show that the accumulated number of microplastic particles in 2014 ranges from 15 to 51 trillion particles, weighing between 93 and 236 thousand metric tons. A large fraction of the uncertainty in these estimates comes from sparse sampling in coastal and Southern Hemisphere regions. We then use this global distribution of small floating plastic debris to map out where in the ocean the risk to marine life (in particular seabirds and plankton growth) is greatest, using a quantitative risk framework. We show that the largest risk occurs not necessarily in regions of high plastic concentration, but rather in regions of extensive foraging with medium-high plastic concentrations such as coastal upwelling regions and the Southern Ocean. Finally, we use the estimates of distribution to investigate where in the ocean plastic can most optimally be removed, assuming hypothetical clean-up booms following the ideas from The Ocean Cleanup project. We show that mitigation of the plastic problem can most aptly be done near coastlines, particularly in Asia, rather than in the centres of the gyres. Based on these results, we propose more focus on the coastal zones when

  16. The global geographical overlap of aflatoxin and hepatitis C: Controlling risk factors for liver cancer worldwide

    Palliyaguru, Dushani L.; Wu, Felicia

    2012-01-01

    About 85% of hepatocellular carcinoma (HCC, liver cancer) cases occur in low-income countries, where the risk factors of dietary aflatoxin exposure and chronic hepatitis B and C (HBV and HCV) viral infection are common. While studies have shown synergism between aflatoxin and HBV in causing HCC, much less is known about whether aflatoxin and HCV synergize similarly. From an exposure perspective, we examine whether there is a geographical overlap in populations worldwide exposed to high dietary aflatoxin levels and with high HCV prevalence. While HCV is one of the most important risk factors for HCC in high-income nations (where aflatoxin exposure is low), we find that HCV prevalence is much higher in Africa and Asia, where aflatoxin exposure is also high. However, within a given world region, there are some inconsistencies regarding exposure and cancer risk. Therefore, there is a need to control risk factors such as aflatoxin and hepatitis viruses in a cost-effective manner to prevent global HCC, while continuing to evaluate biological mechanisms by which these risk factors interact to increase HCC risk. PMID:23281740

  17. Of Malthus and Methuselah: does longevity treatment aggravate global catastrophic risks?

    Jebari, Karim

    2014-12-01

    Global catastrophic risk is a term that refers to the risk of the occurrence of an event that kills at least millions of people across several continents. While it has been argued by a number of scholars that one major potential risk comes from technology, the obscure nature of future technologies makes it difficult to utilize traditional probabilistic risk for the meaningful study of these risks. This article describes an alternative approach and applies it to a research program that has attracted a considerable amount of resources recently: namely longevity research. The aim of this research is to delay or reverse the ageing process. This article argues that this research program is much more risky or less beneficial than its proponents argue. In particular, they tend to underestimate the concerns associated with the potentially drastic population growth that longevity treatment could cause. The ethical benefit often ascribed to longevity treatment is that such treatment would add more subjective life-years that are worth living. However, in light of contemporary environmental problems, such an increase of the human population might be reckless. Drastically reducing fertility to reduce risks associated with environmental stress would make the benefits of such technology much less compelling.

  18. Of Malthus and Methuselah: does longevity treatment aggravate global catastrophic risks?

    Jebari, Karim

    2014-01-01

    Global catastrophic risk is a term that refers to the risk of the occurrence of an event that kills at least millions of people across several continents. While it has been argued by a number of scholars that one major potential risk comes from technology, the obscure nature of future technologies makes it difficult to utilize traditional probabilistic risk for the meaningful study of these risks. This article describes an alternative approach and applies it to a research program that has attracted a considerable amount of resources recently: namely longevity research. The aim of this research is to delay or reverse the ageing process. This article argues that this research program is much more risky or less beneficial than its proponents argue. In particular, they tend to underestimate the concerns associated with the potentially drastic population growth that longevity treatment could cause. The ethical benefit often ascribed to longevity treatment is that such treatment would add more subjective life-years that are worth living. However, in light of contemporary environmental problems, such an increase of the human population might be reckless. Drastically reducing fertility to reduce risks associated with environmental stress would make the benefits of such technology much less compelling. (invited comment)

  19. Capital Budgeting: Do Private Sector Methods of Budgeting for Capital Assets Have Applicability to the Department of Defense

    2005-12-01

    asset pricing model ( CAPM ). “According to the CAPM theory, investors determine their required return by adding a risk premium to the interest rate...NUMBER OF PAGES 77 14. SUBJECT TERMS Capital Budgeting; GAO; DOD; Capital Assets ; Risk, OMB; NPV, IRR 16. PRICE CODE 17. SECURITY...needs of the mission, as defined by the strategic plan, and limit the number of “nice to haves” (OMB, 1997). d. Alternatives to Capital Assets

  20. 12 CFR 560.160 - Asset classification.

    2010-01-01

    ... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Asset classification. 560.160 Section 560.160... Lending and Investment Provisions Applicable to all Savings Associations § 560.160 Asset classification... consistent with, or reconcilable to, the asset classification system used by OTS in its Thrift Activities...

  1. Asset pricing restrictions on predictability : Frictions matter

    de Roon, F.A.; Szymanowska, M.

    2012-01-01

    U.S. stock portfolios sorted on size; momentum; transaction costs; market-to-book, investment-to-assets, and return-on-assets (ROA) ratios; and industry classification show considerable levels and variation of return predictability, inconsistent with asset pricing models. This means that a

  2. Community Asset Mapping. Trends and Issues Alert.

    Kerka, Sandra

    Asset mapping involves documenting tangible and intangible resources of a community viewed as a place with assets to be preserved and enhanced, not deficits to be remedied. Kretzmann and McKnight (1993) are credited with developing the concept of asset-based community development (ABCD) that draws on appreciative inquiry; recognition of social…

  3. Experience with the ASSET service in Slovakia

    Misak, J.

    1996-01-01

    The experience with the ASSET service in Slovakia is described, including the following: ASSET follow-up mission to Bohunice Unit 1-2 NPP; IAEA peer review of the national Incident Reporting System in the Slovak Republic; ASSET seminar on prevention of incidents, Bratislava, January 8-12, 1996

  4. Assets and Educational Achievement: Theory and Evidence

    Elliott, William; Sherraden, Michael

    2013-01-01

    This special issue of Economics of Education Review explores the role of savings and asset holding in post-secondary educational achievement. Most college success research has focused on income rather than assets as a predictor, and most college financing policy has focused on tuition support and educational debt, rather than asset accumulation.…

  5. Work at Forsmark since ASSET 1996

    Loewenhielm, G; Andersson, O [Forsmark Kraftgrupp AB, Oesthammar (Sweden)

    1997-10-01

    The following directions of work at Forsmark since ASSET 1996 are briefly described: peer review follow-up; work related to peer review, Forsmark 2 mini-ASSET; MTO(man-technology-organization)-analysis method, concept development, combination of MTO and ASSET methods; Forsmark INES manual.

  6. Intelligent tactical asset allocation support system

    Hiemstra, Y.

    1995-01-01

    This paper presents an advanced support system for Tactical Asset Allocation. Asset allocation explains over 90% of portfolio performance (Brinson, Hood and Beebower, 1988). Tactical asset allocation adjusts a strategic portfolio on the basis of short term market outlooks. The system includes

  7. Experience with the ASSET service in Slovakia

    Misak, J [Nuclear Regulatory Authority, Bratislava (Slovakia)

    1997-12-31

    The experience with the ASSET service in Slovakia is described, including the following: ASSET follow-up mission to Bohunice Unit 1-2 NPP; IAEA peer review of the national Incident Reporting System in the Slovak Republic; ASSET seminar on prevention of incidents, Bratislava, January 8-12, 1996.

  8. Defining ecosystem assets for natural capital accounting

    Hein, Lars; Bagstad, Ken; Edens, Bram; Obst, Carl; Jong, de Rixt; Lesschen, Jan Peter

    2016-01-01

    In natural capital accounting, ecosystems are assets that provide ecosystem services to people. Assets can be measured using both physical and monetary units. In the international System of Environmental-Economic Accounting, ecosystem assets are generally valued on the basis of the net present

  9. Approaches of Improving University Assets Management Efficiency

    Wang, Jingliang

    2015-01-01

    University assets management, as an important content of modern university management, is generally confronted with the issue of low efficiency. Currently, to address the problems exposed in university assets management and take appropriate modification measures is an urgent issue in front of Chinese university assets management sectors. In this…

  10. Environmental asset management: Risk management systems

    Naudé, Brian

    2017-07-01

    Full Text Available bnaude@csir.co.za Charl Petzer Council for Scientific and Industrial Research PO Box 395 Pretoria 0001 South Africa +2712 841 4292 CPetzer1@csir.co.za Copyright © 2017 by B Naudé, C Petzer. Published and used by INCOSE with permission.... Charl Petzer is registered professional engineer with 30 years of programme/project management as well as systems engineering experience in military and other environments. He has been the lead systems engineer, as well as programme manager on several...

  11. Contingency Factors Influencing Implementation of Physical Asset Management Practices

    Maletič Damjan

    2017-02-01

    Full Text Available Purpose: The purpose of this empirical study is to examine the role of two contingency factors, i.e. uncertainty and competitiveness in relation to physical asset management (PAM practices as well as to maintenance key performance indicators. The research is based on a premise that PAM, which was defined by risk management practices, performance assessment practices, life cycle management practices, and policy & strategy practices, has become an indispensable element of strategic thinking of asset owners as well as maintenance and asset managers. The purpose of this study is to advance the understanding of how organizations that face high or low level of uncertainty and competitiveness respond in terms of PAM deployment.

  12. Challenging the myths: the mid-stream asset provider's view

    Findlay, R.

    1996-01-01

    The term 'mid-stream asset business' implies custom processing and gathering, meaning that a gas producer sells his gas at the wellhead, thereby transferring the business of gathering, processing and marketing of the gas and liquids to a third party. The concept is popular in the United States, but is not yet common in Canada. In Canada, producers own the gas gathering and processing systems. The mid-stream asset business was claimed to be more user friendly than the old custom processing business. Three myths about the mid-stream asset business were challenged: (1) all the risk is on the producer, the processor takes no risk, (2) the mid-stream asset business is an expensive means of financing further exploration, and (3) owning and operating gathering and processing facilities is an integral part of a producer's business. Arguments were brought forth to dispel these myths and to emphasize that a processor should be prepared to accept risks associated with the commodity, prices, production and operations. To be operationally effective, the producer's flexibility and strategic advantages must approach the same level as if he were the owner of the facility

  13. A World at Risk: Aggregating Development Trends to Forecast Global Habitat Conversion

    Oakleaf, James R.; Kennedy, Christina M.; Baruch-Mordo, Sharon; West, Paul C.; Gerber, James S.; Jarvis, Larissa; Kiesecker, Joseph

    2015-01-01

    A growing and more affluent human population is expected to increase the demand for resources and to accelerate habitat modification, but by how much and where remains unknown. Here we project and aggregate global spatial patterns of expected urban and agricultural expansion, conventional and unconventional oil and gas, coal, solar, wind, biofuels and mining development. Cumulatively, these threats place at risk 20% of the remaining global natural lands (19.68 million km2) and could result in half of the world’s biomes becoming >50% converted while doubling and tripling the extent of land converted in South America and Africa, respectively. Regionally, substantial shifts in land conversion could occur in Southern and Western South America, Central and Eastern Africa, and the Central Rocky Mountains of North America. With only 5% of the Earth’s at-risk natural lands under strict legal protection, estimating and proactively mitigating multi-sector development risk is critical for curtailing the further substantial loss of nature. PMID:26445282

  14. The double burden of neoliberalism? Noncommunicable disease policies and the global political economy of risk.

    Glasgow, Sara; Schrecker, Ted

    2016-05-01

    The growing prevalence of NCDs in low- and middle-income countries (LMICs) is now recognized as one of the major global health policy issues of the early 21st century. Current official approaches reflect ambivalence about how health policy should approach the social determinants of health identified by the WHO Commission on the topic that released its report in 2008, and in particular the role of macro-scale economic and social processes. Authoritative framing of options for NCD prevention in advance of the September, 2011 UN high-level meeting on NCDs arguably relied on a selective reading of the scientific (including social scientific) evidence, and foregrounded a limited number of risk factors defined in terms of individual behavior: tobacco use, unhealthy diet, alcohol (ab)use and physical inactivity. The effect was to reproduce at a transnational level the individualization of responsibility for health that characterizes most health promotion initiatives in high-income countries, ignoring both the limited control that many people have over their exposure to these risk factors and the contribution of macro-scale processes like trade liberalization and the marketing activities of transnational corporations to the global burden of NCDs. An alternative perspective focuses on "the inequitable distribution of power, money, and resources" described by the WHO Commission, and the ways in which policies that address those inequities can avoid unintentional incorporation of neoliberal constructions of risk and responsibility. Copyright © 2016. Published by Elsevier Ltd.

  15. The Risk Management Functions in the Conditions of Globalization: Case Study of the Republic of Serbia

    Zlatija Jelenković

    2016-09-01

    Full Text Available Globalization, which represents an important transmission mechanism of the crisis, has led to the necessity for controlling various risks of business, setting a new line of management in companies, regardless of the main business activity they are engaged in. The economic crisis in general, and especially the global financial crises (2007 and the present one led to bankruptcy, and thus to loss of funds of many businesses and individuals. Therefore, it was necessary, on the one hand, to ensure confidence in the financial system and to maintain its stability. On the other hand, the development of corporate governance and separation of functions of ownership and management insisted on the creation of functions that directly report to the owners of capital, such as risk management and internal audit. The value of this paper is in emphasizing the new management function and raising awareness of the scientific public and businesses about the need for introduction of risk management functions in order to facilitate effective management of enterprises, although the survey (2012-2015 has shown that the existence of legal obligations, in this regard penal policy, is the only thing that effectively establishes and promotes this area.

  16. A World at Risk: Aggregating Development Trends to Forecast Global Habitat Conversion.

    James R Oakleaf

    Full Text Available A growing and more affluent human population is expected to increase the demand for resources and to accelerate habitat modification, but by how much and where remains unknown. Here we project and aggregate global spatial patterns of expected urban and agricultural expansion, conventional and unconventional oil and gas, coal, solar, wind, biofuels and mining development. Cumulatively, these threats place at risk 20% of the remaining global natural lands (19.68 million km2 and could result in half of the world's biomes becoming >50% converted while doubling and tripling the extent of land converted in South America and Africa, respectively. Regionally, substantial shifts in land conversion could occur in Southern and Western South America, Central and Eastern Africa, and the Central Rocky Mountains of North America. With only 5% of the Earth's at-risk natural lands under strict legal protection, estimating and proactively mitigating multi-sector development risk is critical for curtailing the further substantial loss of nature.

  17. Financial Assets [share, bonds] & Ancylia

    Maksoed, Wh-

    2016-11-01

    Instead Elaine Scarry: "Thermonuclear monarchy" reinvent Carry Nation since Aug 17, 1965 the Republic of Indonesia's President speech: "Reach to the Star", for "cancellation" usually found in External Debt herewith retrieved from "the Window of theWorld": Ancylia, feast in March, a month named after Mars, the god of war. "On March 19 they used to put on their biggest performance of gymnastics in order to "bribe" their god for another good year", further we have vacancy & "vacuum tube"- Bulat Air karena Pembuluh, Bulat Kata karena Mufakat" proverb from Minangkabau, West Sumatra. Follows March 19, 1984 are first prototype flight of IAI Astra Jet as well as March 19, 2012 invoice accompanies Electric car Kujang-193, Fainancial Assets [share, bonds] are the answer for "infrastructure" & state owned enterprises assets to be hedged first initial debt per capita accordances. Heartfelt gratitudes to HE. Mr. Ir. Sarwono Kusumaatmadja/PT. Smartfren INDONESIA.

  18. CLUSTER ANALYSIS OF TOTAL ASSETS PROVIDED BY BANKS FROM FOUR CONTINENTS

    MIRELA CĂTĂLINA TÜRKEȘ

    2017-08-01

    Full Text Available The paper analysed the total assets in 2016 achieved by the strongest 96 banks from 4 continents: Europe, America, Asia and Africa. It aims to evaluate the level of total assets provided by banks in 2016 and continental banking markets degree of differentiation to determine the overall conditions of the banks. Methodologies used in this study are based on cluster and descriptives analysis. Data set was built based on informations reported by banks on total assets. The results indicate that most of total banking assets are found in Asia and the fewest in Africa. At the end of 2016, the top 16 global banks owned total assets of $ 30.19 trillion according to the data set contains cluster 1 and the centroid was (2.25, 2.11, 3.06, 0.01.

  19. Asset Return Dynamics and Learning

    William A. Branch; George W. Evans

    2010-01-01

    This article advocates a theory of expectation formation that incorporates many of the central motivations of behavioral finance theory while retaining much of the discipline of the rational expectations approach. We provide a framework in which agents, in an asset pricing model, underparameterize their forecasting model in a spirit similar to Hong, Stein, and Yu (2007) and Barberis, Shleifer, and Vishny (1998), except that the parameters of the forecasting model and the choice of predictor a...

  20. Essays in Empirical Asset Pricing

    Rzeznik, Aleksandra

    This thesis consists of three essays investigating financial and real estate markets and identifying a relationship between them. A 2008 financial crises provides a perfect example of sizeable interactions between US housing market and equity prices, where a negative shock to house prices trigger...... a word-wide recession. Therefore, understanding forces driving investors behaviour and preferences, which in turn affect asset prices in both equity and housing market are of great interest....