Vietnamese farmed pangasius products have experienced major price fluctuations over numerous crop cycles exposing this important export commodity to risk and uncertainty. This study focuses on two distinct areas of risk. First, this study seeks to measures the farm-gate price volatility, explores farmers’ perceptions about the price volatility risk related to the input sourcing and output selling activities, and quantifies the effectiveness of price volatility risk management strategies. Second, the relationships between farm and farmer socioeconomic characteristics, perceptions about the price volatility risk and management strategies are also examined. To respond to these research questions, a focus group workshop was conducted with 29 stakeholders and a structured survey with 92 farmers located in the provinces of An Giang, Can Tho, and Dong Thap of the Vietnamese Mekong Delta. Results illustrated that the pangasius farm-gate price fluctuates significantly over time. Vietnamese pangasius farmers are mainly concerned about the volatilities of input and output prices, additionally with the instability of the volume input supply, instability in demand volume, and weak legislation on sale contracts. Results further indicate that price volatility risk management strategies are less effective in practically protecting farmers against price volatility risks. Farmers with higher education knowledge opt for fully integrated farms and are less concerned about the output price volatility risk. Promoting risk-sharing schemes such as contract farms or insurance for farmers with higher educational levels and being accessible to credit could support Vietnamese pangasius farmers toward increasing the sustainability of pangasius production.
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Purpose: The purpose of this study is to find determinants about risk resilience and develop a new risk resilience approach for (agricultural) enterprises. This approach creates the ability to respond resiliently to major environmental challenges and changes in the short term and adjust the management of the organization, and to learn and transform to adapt to the new environment in the long term while creating multiple value creation. Design/methodology: The authors present a new risk resilience approach for multiple value creation of (agricultural) enterprises, which consists of a main process starting with strategy design, followed by an environmental analysis, stakeholder collaboration, implement ESG goals, defining risk expose & response options, and report, learn & evaluate. In each step the organizational perspective, as well as the value chain/area perspective is considered and aligned. The authors have used focus groups and analysed literature from and outside the field of finance and accounting, to design this new approach. Findings: Researchers propose a new risk resilience approach for (agricultural) enterprises, based on a narrative about transforming to multiple value creation, founded determinants of risk resilience, competitive advantage and agricultural resilience. Originality and value: This study contributes by conceptualizing risk resilience for (agricultural) enterprises, by looking through a lens of multiple value creation in a dynamic context and based on insights from different fields, actual ESG knowledge, and determinants for risk resilience, competitive advantage and agricultural resilience.
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Why are risk decisions sometimes rather irrational and biased than rational and effective? Can we educate and train vocational students and professionals in safety and security management to let them make smarter risk decisions? This paper starts with a theoretical and practical analysis. From research literature and theory we develop a two-phase process model of biased risk decision making, focussing on two critical professional competences: risk intelligence and risk skill. Risk intelligence applies to risk analysis on a mainly cognitive level, whereas risk skill covers the application of risk intelligence in the ultimate phase of risk decision making: whether or not a professional risk manager decides to intervene, how and how well. According to both phases of risk analysis and risk decision making the main problems are described and illustrated with examples from safety and security practice. It seems to be all about systematically biased reckoning and reasoning.
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ESMA (European Securities and Markets Authority) published in December 2014 a document about the regulation norms. In that document the ESMA proposed to skip the exemption option for energy companies for the guidelines of the financial instruments. From Jan. 3 2018 MiFID II (Markets in Financial Instruments II) expanded the catalogue of financial instruments to energy companies. MiFID II requires that – among others – energy companies have the obligations to include the product in position limits, tests for fulfilment of conditions for exclusion, and inclusion in the supervisory regime under the EMIR (European Market Infrastructure Regulation). The MiFID II is obligatory for all EU members.Although there is a tendency for unbundling the several tasks in the energy sector, in some countries – like France – all tasks are concentrated in the hand of the state. At the other hand, in the Netherlands, Germany and the UK the tasks are divided among several parties. The financial relations between these parties are (partly) financial instruments.This study is important for the electricity market. In this study we describe the financial relations between the several parties in the electricity market in the Netherlands. The focus will be on the question of who bears the financial risks on the future cash flows. We describe the working of the clearing and the margin requirements for a better understanding. This has never been done for any country. In the light of MiFID II this analysis can also be interesting for other EU countries.
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Within recent years, Financial Credit Risk Assessment (FCRA) has become an increasingly important issue within the financial industry. Therefore, the search for features that can predict the credit risk of an organization has increased. Using multiple statistical techniques, a variance of features has been proposed. Applying a structured literature review, 258 papers have been selected. From the selected papers, 835 features have been identified. The features have been analyzed with respect to the type of feature, the information sources needed and the type of organization that applies the features. Based on the results of the analysis, the features have been plotted in the FCRA Model. The results show that most features focus on hard information from a transactional source, based on official information with a high latency. In this paper, we readdress and -present our earlier work [1]. We extended the previous research with more detailed descriptions of the related literature, findings, and results, which provides a grounded basis from which further research on FCRA can be conducted.
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Most violence risk assessment tools have been validated predominantly in males. In this multicenter study, the Historical, Clinical, Risk Management–20 (HCR-20), Historical, Clinical, Risk Management–20 Version 3 (HCR-20V3), Female Additional Manual (FAM), Short-Term Assessment of Risk and Treatability (START), Structured Assessment of Protective Factors for violence risk (SAPROF), and Psychopathy Checklist–Revised (PCL-R) were coded on file information of 78 female forensic psychiatric patients discharged between 1993 and 2012 with a mean follow-up period of 11.8 years from one of four Dutch forensic psychiatric hospitals. Notable was the high rate of mortality (17.9%) and readmission to psychiatric settings (11.5%) after discharge. Official reconviction data could be retrieved from the Ministry of Justice and Security for 71 women. Twenty-four women (33.8%) were reconvicted after discharge, including 13 for violent offenses (18.3%). Overall, predictive validity was moderate for all types of recidivism, but low for violence. The START Vulnerability scores, HCR-20V3, and FAM showed the highest predictive accuracy for all recidivism. With respect to violent recidivism, only the START Vulnerability scores and the Clinical scale of the HCR-20V3 demonstrated significant predictive accuracy.
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Rationale: The goal of the PROVE (Protein enriched vegan products to fight malnutrition) project is to innovate the assortment of plant-based energy and protein enriched products for dietary treatment of (risk of) malnutrition. We aimed to explore preferences of dietitians for plant-based products in the treatment of malnutrition.Methods: In this design-based research project, the Double Diamond model was applied. Contextual interviews were performed with 9 dietitians experienced in treating clients using a vegan diet (1 omnivore, 3 flexi-vegetarian, 1 vegetarian, 1 pescetarian, 3 flexi-vegan). Interviews focused on preferences regarding product type, size, nutrients, taste, packaging, price. Affinity mapping was used to code and analyze the transcripted interviews. The results were summarized into concept products.Results: Four product concepts were developed that represent preferences of dietitians for a plant-based energy and protein enriched product for clients with (risk of) malnutrition. Overall, pea or soy were preferred as a protein source and addition of vitamins and minerals was not preferred.Conclusion: Preferences of dietitians for plant-based protein and energy rich products for patients with risk of malnutrition largely vary. Within PROVE, we will enrich these results with patient perspectives, as basis to develop and deliver plant-based energy and protein enriched products for treatment of (risk of) malnutrition.
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Financial constraints and risk taking are two well-established determinants of firm performance, however, no research analyzes how these variables are connected in the context of a high risk environment. Using data from microfinance clients in Tanzania, we derive a novel financial constraints measure and incorporate a psychometric risk taking scale. Results confirm the importance of access to finance and risk attitudes for business development. Also, we provide preliminary evidence for an interaction between financial constraints and risk taking. Financial constraints “throw sand in the wheels” and protect risk taking entrepreneurs from the negative impact of risk taking on microenterprise performance.
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Summary Project objectives This study fits into a larger research project on logistics collaboration and outsourcing decisions. The final objective of this larger project is to analyze the logistics collaboration decision in more detail to identify thresholds in these decisions. To reach the overall objectives, the first step is to get a clearer picture on the chemical and logistics service providers industry, sectors of our study, and on logistics collaboration in these sectors. The results of this first phase are presented in this report. Project Approach The study consists of two parts: literature review and five case studies within the chemical industry. The literature covers three topics: logistics collaboration, logistics outsourcing and purchasing of logistics services. The five case studies are used to refine the theoretical findings of the literature review. Conclusions Main observations during the case studies can be summarized as follows: Most analyzed collaborative relationships between shippers and logistics service providers in the chemical industry are still focused on operational execution of logistics activities with a short term horizon. Supply management design and control are often retained by the shippers. Despite the time and cost intensive character of a logistics service buying process, shippers tendering on a very regular basis. The decision to start a new tender project should more often be based on an integral approach that includes all tender related costs. A lower frequency of tendering could create more stability in supply chains. Beside, it will give both, shippers and LSPs, the possibility to improve the quality of the remaining projects. Price is still a dominating decision criterion in selecting a LSP. This is not an issue as long as the comparison of costs is based on an integral approach, and when shippers balance the cost criterion within their total set of criteria for sourcing logistics services. At the shippers' side there is an increased awareness of the need of more solid collaboration with logistics service providers. Nevertheless, in many cases this increased awareness does not actually result in the required actions to establish more intensive collaboration. Over the last years the logistics service providers industry was characterized by low profit margins, strong fragmentation and price competition. Nowadays, the market for LSPs is changing, because of an increasing demand for logistics services. To benefit from this situation a more pro-active role of the service providers is required in building stronger relationships with their customers. They should pay more attention on mid and long term possibilities in a collaborative relation, in stead of only be focused on running the daily operation.
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Background: Cardiovascular risk factors are associated with physical fitness and, to a lesser extent, physical activity. Lifestyle interventions directed at enhancing physical fitness in order to decrease the risk of cardiovascular diseases should be extended. To enable the development of effective lifestyle interventions for people with cardiovascular risk factors, we investigated motivational, social-cognitive determinants derived from the Theory of Planned Behavior (TPB) and other relevant social psychological theories, next to physical activity and physical fitness. Methods: In the cross-sectional Utrecht Police Lifestyle Intervention Fitness and Training (UP-LIFT) study, 1298 employees (aged 18 to 62) were asked to complete online questionnaires regarding social-cognitive variables and physical activity. Cardiovascular risk factors and physical fitness (peak VO2) were measured. Results: For people with one or more cardiovascular risk factors (78.7% of the total population), social-cognitive variables accounted for 39% (p < .001) of the variance in the intention to engage in physical activity for 60 minutes every day. Important correlates of intention to engage in physical activity were attitude (beta = .225, p < .001), self-efficacy (beta = .271, p < .001), descriptive norm (beta = .172, p < .001) and barriers (beta = -.169, p < .01). Social-cognitive variables accounted for 52% (p < .001) of the variance in physical active behaviour (being physical active for 60 minutes every day). The intention to engage in physical activity (beta = .469, p < .001) and self-efficacy (beta = .243, p < .001) were, in turn, important correlates of physical active behavior. In addition to the prediction of intention to engage in physical activity and physical active behavior, we explored the impact of the intensity of physical activity. The intentsity of physical activity was only significantly related to physical active behavior (beta = .253, p < .01, R2 = .06, p < .001). An important goal of our study was to investigate the relationship between physical fitness, the intensity of physical activity and social-cognitive variables. Physical fitness (R2 = .23, p < .001) was positively associated with physical active behavior (beta = .180, p < .01), self-efficacy (beta = .180, p < .01) and the intensity of physical activity (beta = .238, p < .01). For people with one or more cardiovascular risk factors, 39.9% had positive intentions to engage in physical activity and were also physically active, and 10.5% had a low intentions but were physically active. 37.7% had low intentions and were physically inactive, and about 11.9% had high intentions but were physically inactive. Conclusions: This study contributes to our ability to optimize cardiovascular risk profiles by demonstrating an important association between physical fitness and social-cognitive variables. Physical fitness can be predicted by physical active behavior as well as by self-efficacy and the intensity of physical activity, and the latter by physical active behavior. Physical active behavior can be predicted by intention, self-efficacy, descriptive norms and barriers. Intention to engage in physical activity by attitude, self-efficacy, descriptive norms and barriers. An important input for lifestyle
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