High-risk Enterprises Research Articles

Sliding Window-Based Machine Learning for Environmental Inspection Resource Allocation.

Environmental regulation is pivotal in mitigating environmental risks and promoting sustainable development, yet regulators frequently encounter resource constraints when inspecting enterprises. To address this limitation, we employed four sliding window-based machine learning techniques to enhance effective environmental inspections. Utilizing feature-engineered time-series data of characteristic and compliance records from 16,777 chemical enterprises in Jiangsu between 2010 and 2021, the four models were used to establish the predictive models that link enterprise characteristics to the likelihood of inspection failure. The results indicated that the models were comparable with the widely utilized deep learning sequence model, the Long Short-Term Memory model, achieving areas under the ROC (receiver operating characteristic) curves exceeding 0.83. Past violation significantly influences future violations, with a more recent violation history exerting stronger impacts. Besides, using predicted failure rates, we proposed seven resource allocation scenarios, considering different regulation intensities to target high-risk enterprises. Notably, the provincial-level risk-based method yielded a significant inspection failure rate increase (detecting violation), surpassing 8-fold the baseline. Overall, our study offers regulators an optimized inspection resource allocation method, thereby enhancing the regulatory effectiveness. Moreover, this study demonstrates the potential of window-based machine learning techniques in environmental regulation and highlights the importance of data-driven decision-making for promoting sustainable development.

Legal risk assessment of enterprise labor dispatch employment under clustering algorithm

Abstract In the background of the era of digitalization of data information, artificial intelligence algorithms are becoming increasingly intelligent, and the traditional enterprise legal risk assessment fits well with the requirements of the development of the era of big data. This paper focuses on the legal risk assessment of enterprise labor dispatch employment under the clustering algorithm, firstly, by reviewing the literature to understand the concept and principle of the clustering algorithm, constructing the legal risk assessment model of enterprise labor dispatch employment under the clustering algorithm, and applying The legal risk of enterprise labor contract management was assessed by expert scoring, and the risk assessment result was 62.2 points, which was a high score and its legal risk level was high and needed to be improved. The Gaussian mixture model uses probability distribution to determine the degree of similarity between samples, and the three indicators that contribute most to the effect of Gaussian mixture clustering are selected. The purpose is to identify more high-risk enterprises outside the framework of the “special treatment” system and to provide guidance on measures to prevent the legal risks of labor dispatch. Therefore, the legal risk assessment of labor dispatching in enterprises under the clustering algorithm has certain implications for business operators and academics who study the legal risk assessment of labor dispatching.

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During the last decades, the world historical situation has fundamentally changed, humanity has entered the nuclear-space age. The development of civilization and society could not exclude wars and military conflicts as a means of forceful resolution of interstate, religious, ethnic and other contradictions. The way out of conflict situations with the help of weapons remains a distinctive feature of the modern era. The achievements of science and technology today are aimed not only at the development of modern production, improvement of working conditions and welfare of citizens, but also at the development of the latest types of weapons and ammunition, which increases the risks of emergency situations due to their use. Emergency situations of a military nature are associated with the consequences of the use of weapons of mass destruction or modern conventional means of destruction, during which secondary factors of damage to the population arise as a result of the destruction of nuclear and hydroelectric power plants, warehouses and storages of radioactive and toxic substances, waste oil products, explosives, highly toxic substances, toxic waste, transport and engineering communications. As a result of emergencies of a military nature, emergencies of man-made, natural, social nature, mass deaths of people and animals may arise. The dangerous sources of emergencies of a military nature include: weapons themselves, extraordinary unsanitary conditions during hostilities (a large number of corpses, disruption of the normal operation of various communal services, disruption of water supply and sewage systems, insufficient medical care, occurrence of epidemics), complex ecological and the man-made situation, the presence of high-risk enterprises (chemical enterprises, nuclear power plants, oil refineries) and the like. The article examines the characteristic features of possible modern wars and conflicts, analyzes the sources of emergency situations of a military nature, their features and possible consequences for the population and the territory of the state. In addition, an analysis of the specifics of the terrorist nature of Russia's war against Ukraine and the consequences of armed aggression for the country's territory, population, and economy was carried out.

Reduction of the risk of selecting the emergency ventilation mode through local control of ventilation flows

The implementation of measures regarding the organization of emergency ventilation of mine is connected with various types of risks, as in other cases of the operation of high-risk enterprises. In particular, this applies to the emergency risk that arises when there is a need for the emergency evacuation of people from the mine workings, gassed with fire products (that is, the risk of their poisoning or damage due to the thermal factor) and the emergency risk that is provoked by the wrong choice and implementation of the emergency ventilation mode. Both types of risks require to reduce the use of means of ventilation - main and local ventilation fans. Provision should also be made for the use of various passive control devices. The main result of the methodological approach used today is the selection of the emergency ventilation mode, which maximally limits the gassing zone of the mine ventilation network with gaseous combustion products. At the same time, the criterion for the effectiveness of the emergency evacuation of miners should be the maximum use of non-gasified workings, which achieves the goal of managing ventilation in the event of accidents. The proposed control function, which characterizes the degree of risk of distribution of fire gases in mine workings, is the root mean square deviation of the concentration of fire gases in the controlled branches of the network from the required level of stabilization. For two control devices and two controlled areas, it is part of a three-dimensional cone, and the control region is bounded by two hyperbolas. The problem formulation looks similar when the size of the base of the regulating devices is increased . A limitation on the task is formulated, and a conclusion is made regarding the possibility of applying analog methods of dynamic programming for its solution. As such, the multi-step optimization method, the one-step optimization method, and the extreme coordinate optimization method (the last one is the most effective) are considered. The greatest efficiency of their use will be achieved with the introduction of an automated ventilation control system, which provides feedback from the means of regulation and regulatory devices. Keywords: emergency risk, aerological risk, management functionality, regulatory devices, exogenous fire.

Assessing and Predicting Green Credit Risk in the Paper Industry.

The paper industry is closely related to forestry resources, which constitute an essential part of achieving sustainable development. Green credit can provide financial support to assist the paper industry in achieving carbon neutrality. To develop a method for performing green credit risk assessments in the paper industry, first, an initial index system was established on the basis of two dimensions: financial risk and socio-environmental risk. Then, the KMV model was applied to measure credit risk. The combined results of this model, along with the environmental penalties of an enterprise, formed the basis for the classification of green credit risk. Third, the Gini index was used to filter out, one by one, the indexes with the least influence among the factors, and then random forest iterations were performed until the prediction accuracy reached the optimum, thus establishing a green credit risk prediction model for the paper industry. The results show that the accuracy of the sample classification reached 93.75%, and the accuracy of the sample classification for high-risk enterprises reached 100%. The established index system offers good guidance for the assessment of green credit risk in the paper industry, in which the interest coverage ratio, current ratio, asset-liability ratio, and green emissions are the main factors affecting green credit risk.

The Relationship Between Enterprise Financial Risk and R&D Investment Under the Influence of the COVID-19.

The COVID-19 pandemic has dealt a considerable blow to the development of Chinese enterprises. Therefore, exploring how to reduce the enterprise financial risk under the impact of the COVID-19 has become a current research hotspot. We select the data of 3,098 A-share companies in the quarters of 2019 and 2020, use the Z-score model to reasonably evaluate enterprise financial risk, and analyze the impact of Research and Development (R&D) investment on enterprise financial risk under the COVID-19.The results show that: ① The COVID-19 pandemic has increased the number of high-risk enterprises. ② R&D investment can effectively reduce the enterprise financial risk, and enterprises that attach importance to scientific research are relatively less affected by the COVID-19. ③ Compared with non-state-owned enterprises, R&D investment under state-owned enterprises can better help enterprises reduce financial risk. ④ When the enterprise financial risk is lower, the role of R&D investment in reducing financial risk is more significant. With the increase of financial risk, the effect of R&D investment on it is weakened. The research results are beneficial to help enterprises to correctly assess their financial risks during the COVID-19, so that enterprises can reasonably invest in research and development, and ultimately ensure the sustainable development of enterprises under the COVID-19.

Research on credit strategy of small, medium, and micro enterprises based on commercial banks

In order to help banks formulate Credit Strategies for small, medium-sized and micro enterprises, this paper analyzes enterprises from two aspects. On the one hand, starting from the enterprise's data and from the enterprise's relevant data, including qualitative indicators such as reputation level, invoice information, credit record and operating income, a model is established to quantitatively analyze the operation status and reputation status of the enterprise. On the other hand, through the analysis of the "maximum lending rate" and "maximum lending rate" of the bank, we can analyze the "maximum lending rate" and "how much lending rate" of the bank. Combining the above variables, we can get the best credit strategy of the bank under the factors of credit risk and income. Firstly, without considering the influence of other data, this paper abstracts five indicators to measure the reputation status and enterprise-scale from the data of small and medium-sized enterprises with credit rating, quantifies the indicators. At the same time, the Euclidean distance is calculated by MATLAB modeling, the correlation between lending enterprises and non-lending enterprises is analyzed, and the high-risk enterprises in lending enterprises are selected. Then, among the remaining enterprises that can issue loans, five different credit strategies are formulated according to the weighting of their credit rating and enterprise scale as the primary basis for the number of bank loans and interest rate. Secondly, the focus is on how to comprehensively quantify the credit status and business problems of small, medium-sized and micro enterprises without credit records. Without considering the influence of other data, this paper mainly analyzes the correlation between the enterprises without credit records and the enterprises mentioned above that do not grant loans. It preliminarily obtains the enterprises that can grant loans. Then, through decision tree modeling, the loan demand of enterprises with different credit levels is estimated as a variable. By fitting the curve between interest rate and customer churn rate, different interest rate ranges under different levels are obtained as the second variable. Finally, through the above two variables, we establish the profit function of bank credit, find the corresponding variables at the maximum value, and formulate relevant credit strategies.

An Inverted U-shaped Relationship? The Impact of Government Subsidies on the R&D Investment of New Energy Companies: Economic Policy Uncertainty and Enterprise Heterogeneity Perspectives

The government is actively pursuing a financial subsidy policy to assist new energy companies in strengthening their ability to innovate independently, but the impact of government subsidies has been contentious. Using 142 new energy listed companies in Shanghai and Shenzhen A-stocks from 2012 to 2018, a fixed-effect model was used to examine the impact of government subsidies on new energy companies’ R&D investment, as well as the changes in the relationship between the two under conditions of economic policy uncertainty and enterprise heterogeneity. The results indicate that government subsidies have an inverted U-shaped effect on enterprise R&D investment; that is, while appropriate subsidies promote enterprise R&D investment, excessive subsidies suffocate other funds invested by the company in R&D and exacerbate the company’s proclivity to invest in fixed assets. Furthermore, economic policy uncertainty has a more substantial negative adjustment effect on the relationship between government subsidies and corporate R&D investment than fixed-asset investment. Additionally, research indicates that in China’s eastern coastal regions, the impact of government subsidies on R&D investment is more remarkable for high-risk preference enterprises and non-state-owned enterprises than in the central and western regions, where the negative adjustment effect of economic policy uncertainty is more remarkable for low-risk-preference and non-state-owned enterprises. It is recommended that government departments ensure economic policy stability and continuity and that subsidy selection be more targeted and precise in determining subsidy funds.

Linking Safety-Specific Leader Reward and Punishment Omission to Safety Compliance Behavior: The Role of Distributive Justice and Role Ambiguity.

BackgroundAlthough positive safety leadership has attracted increasingly academic and practical attention due to its critical effects on followers' safety compliance behavior, far fewer steps have been taken to study the safety impact of laissez-faire leadership.ObjectiveThis study examines the relationships between safety-specific leader reward and punishment omission (laissez-faire leadership) and followers' safety compliance, and the mediations of safety-specific distributive justice and role ambiguity.MethodsOn a two-wave online survey of 307 workers from high-risk enterprises in China, these relationships were tested by structural equations modeling and bootstrapping procedures.ResultsFindings show that safety-specific leader reward omission was negatively associated with followers' safety compliance through the mediating effects of safety-specific distributive justice and role ambiguity. Safety-specific leader punishment omission was also negatively associated with followers' safety compliance through the mediating effect of safety-specific role ambiguity, while safety-specific distributive justice was an insignificant mediator.OriginalityThe study addresses and closes more gaps by explaining how two contextualized laissez-faire leadership measures relate to followers' safety behaviors, following the contextualization and matching principles between predictors, mediators and criteria, and by revealing two mechanisms behind the detrimental effects of laissez-faire leadership on safety outcomes.

Risks assessment and driving forces of urban environmental accident

Regional environmental accident risk is regarded as the focus and the most difficult challenge of environmental management, posing a serious threat to people's lives and property. Much of the current literature relies on calculating and assessing the risks of environmental accidents. Little is known regarding about the driving forces of environmental accident risks, and how they affect the level and distribution characteristics of risks, especially the inherent linkages between regions and enterprise (individuals). The aim of this research is to innovate and develop the method for assessing the risk of the environmental accidents at multiple scales in order to accurately investigate the distribution characteristics and driving factors of environmental accident risks. In this study, the Multiscale Environmental Accident Risks Assessment model (MEARA) was proposed to comprehensively evaluate the characteristics and impacts of environmental risk at different scales. And we adopted GeoDetector model (GED) to explore the dominant driving factors and their interaction among multiple scales. The city of Dongguan, China, was chosen as the research area. We discovered that: 1) there were significant differences in risk levels across industries, with the environmental accident risk of enterprises in Dongguan being generally low, while some industries, such as the petrochemical, telecommunication, and equipment manufacturing industries, had higher risks. 2) Risks of environmental accidents exhibited significant agglomeration. Rivers and lakes, coastal areas, and transportation hubs were all hotspots for high-risk enterprises and regions. 3) The interaction between social and economic factors was the most significant in terms of spatial heterogeneity among influencing factors. By analyzing the results of the GeoDetector, we realized that the economy and population were the dominant factors influencing the environmental accident risk level. The interaction results show that the interaction between the factors is significantly improved. The interaction of population, and GDP, ecological sensitivity, the importance of ecological function, and the intensity of hospital radiation has increased the explanatory power of the environmental accident risk level. We discuss the need of emergency management for environmental accident risks. We provide an innovative “point-area” multi-scale environmental accident risk assessment method, as well as strategies for environmental accident risk management of enterprises and regions at various risk levels. It is beneficial for effective emergency management to protect residents' living environments.

Credit availability, signalling and auditor choice

ABSTRACT Taken the cancellation of the upper limit of loan interest rates as a quasinatural experiment and based on the signal theory of auditor demand, this paper investigates how the improvement of credit availability affects the choice of auditors. Results show that, compared with low-risk enterprises, high-risk enterprises tend to choose high-quality audits because of the increased loan availability after the liberalisation of the loan interest rate ceiling, and this tendency is more pronounced in the corporations with higher financing constraints. The above results are still valid after a series of robustness tests. Further analysis reveals that high-risk companies choosing high-quality auditors do obtain more long-term loans after the loan interest rate ceiling was lifted. This study identifies the causal relationship between credit availability and auditor choice, and also provides empirical evidence for the signal function of high-quality auditors in China’s credit market.

Impact of financial risk on the operation of Start-ups

The aim of this study is to analyse the impact of financial risk on the operation of innovative, high-risk enterprises – start-ups. Through advanced technologies and focusing on individual needs of recipients, such enterprises certainly fit the concept of the fourth industrial revolution. As part of their operational process start-ups are exposed to a broad spectrum of risks, among which the financial risks are particularly disruptive. With a clear objective of identifying financial risks that have the greatest impact on the operation of such enterprises, the study applied a questionnaire that used CAWI and CAPI methods and covered 202 start-ups active in Poland. The results of the questionnaire were subject to a statistical analysis to determine financial risks that influence the activity of start-ups to the greatest extent. The most important risks include the loss of financial liquidity and the lack of funds for continuing the development of an enterprise or a product. Therefore, we should assume that the innovative activity conducted by start-ups not only represents a method of gaining competitive advantage, but it is very often essential for the purpose of surviving on the market. Therefore, identifying operational risks and acting to limit their negative impact form an important aspect of the operation of start-ups.

On informational-communicative interaction of subjects of innovation process: national and international experience

Problem setting. The innovative development of society necessitates the functioning of a network that would ensure effective communication between the subjects of the innovation process. In this aspect, the issue of information and communication between the subjects of the innovation process becomes especially important. Analysis of recent researches and publications. The issues of creation and specifics of functioning of separate subjects of innovation infrastructure were investigated by such legal scholars as S.V. Glibko [1], I.V. Podrez-Ryapolova, A.M. Ljubcic, V.F. Savchenko, M.G. Dolgopolov and others. Target of research is to analyze the activities of networks of individual actors in the innovation process on the example of science parks, business incubators and business angels. Article’s main body. In Ukraine, the science park is one of the most common subjects of the innovation process. At the same time, there is no single network of science parks in Ukraine that would provide interaction between these subjects of the innovation process. Instead, several networks of science parks operate effectively at the international level. In addition, today a network of business incubators (startup incubators) “YEP!” is successfully operating in Ukraine as an influential subject of the innovation process. The third subject of the innovation process, which was studied in the article, is a business angel as an individual, who invests in high-risk, mainly innovative, small and medium enterprises and startups. Conclusions and prospects for the development. As a result, the author concludes that ensuring the implementation of information and communication interaction between the subjects of the innovation process is the key to the effectiveness of their functioning. Today, international networks of business angels, business incubators and science parks operate in the world in the form of non-governmental non-profit organizations and providing education, information and communication, representation and investment services to their members.

INDUSTRIAL ENTERPRISES AND HEALTH RISK CATEGORIES

In order to ensure the sanitary and epidemiological welfare of the population in the Russian Federation, measures are being taken to improve control and supervisory activities through the introduction of a risk-based approach to the organization of control and surveillance activities. At the base of the risk-based supervision, there is a differentiated approach to control and supervisory activities concentrating efforts on enterprises that pose Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeingeptable health risks. The potential danger of the facilities subject to federal state sanitary and epidemiological supervision in the Krasnoyarsk Territory was assessed with regard to the health risk criteria. In the Krasnoyarsk Territory, with taking into account types of economic activity, 40.83% of the industrial enterprises fall under the category of those involving extremely high, high and significant public health risk. 1.6% of the economic entities pose an extremely high health risk in the Krasnoyarsk Territory as a whole and, with bearing in mind their activities, the percentage of such entities is slightly lower (1.48%). In terms of industrial enterprises’ activity, compared to other economic entities, the percentage of the enterprises posing extremely high risk is the highest and amounts to 4.37%. Such a prevailing ratio is typical for high-risk enterprises - 7.05%; 6.7% and 12.65% respectively, with approximately the same ratio of the enterprises posing a significant risk - 23.14%; 22.79% and 23.81% respectively. When assessing the total risk created by the economic entities of the Krasnoyarsk Territory with the consideration of their types of activity, the contribution of the enterprises posing extremely high risk was found to be 80.11%, and when considering risks related to the activities of industrial enterprises, the share of such facilities increases to 92.6%. In the Krasnoyarsk Territory, industrial enterprises are the main factor affecting the environmental quality, and therefore it becomes important to actively use the social and hygienic monitoring system as part of state control over the activities of industrial enterprises, the system that provides data on environmental factors and health status to be applied by the system of environmental management and public health.

Start-ups as an Element Supporting the Development of the Mining and Energy Sector

This study aims at presenting opportunities offered to the mining and energy industry by the emergence and operation of high-risk enterprises – start-ups. Moreover, it analyses interrelations between the developmental status of such entities and their lifespan. We need to stress that start-ups are mostly associated with modern technologies that are used and implemented in various sectors of the economy. Therefore, they are classified as innovative and innovation-implementing enterprises, which gives them a chance to gain market success and competitive advantage. As shown by conducted analyses, start-ups can be an efficient element that supports the development of mining and energy enterprises. At the same time, again on the basis of analyses, start-ups, quickly developing and maturing as well as seeking their own business model, exhibit the largest risk of losing financial liquidity.

Farm membership of voluntary welfare schemes results in better compliance with animal welfare legislation in Great Britain

AbstractThe Action Plan of the European Commission 2006-2010 proposed a move towards more private and less state regulation of animal welfare and Great British (GB) Governments made a commitment to reduce the burden of inspection of farms by targeting high-risk enterprises. In previous research in GB, farmers in private, voluntary regulated schemes were more compliant with GB legislation and code at statutory welfare inspections made by the Animal and Plant Health Agency (APHA) than farmers not in such schemes. The current study investigated whether membership of other private voluntary regulators and national data sources were associated with greater compliance with welfare at APHA inspections and whether the previous association between greater compliance and membership of private schemes persisted. Compliance at APHA inspections remained higher on farms in the private schemes previously investigated. It was also higher in the one retailer and seven herd health schemes investigated. There was no association between non-welfare EU cross-compliance inspections and compliance at APHA inspections. Approximately 90% of farmers in a scheme passed animal welfare inspections compared with 80% of non-scheme members. We conclude that farms in private schemes are more likely to pass APHA inspections and so this criterion can be used in selection of farms for risk-based inspection. We hypothesise that private regulation with regular inspection of all farms could raise compliance with animal welfare legislation to at least the minimum legal standards, however, it could result in animals with low welfare being concealed; consequently, this hypothesis requires testing.

The Wisdom of Crowds.

The Wisdom of Crowds.

The role of risk and risk-aversion in adoption of alternative marketing arrangements by the US farmers

The objective of this article is to analyse the relationship between farmers’ risk-aversions and the riskiness of various agricultural enterprises to see which marketing arrangements would typically emerge. Relying on the basic agency theory model, we hypothesize the prevalence of alternative marketing arrangements (AMAs) in situations with high risk-averse farmers and high-risk enterprises and the prevalence of spot (cash) markets for low risk-averse participants and less risky enterprises. Our empirical tests are carried out using the 2004 Agricultural Resource Management Survey (ARMS). The empirical results are largely supportive of the agency theory of contract choice.

Epidemiological characteristics of burn workers in Hunan Province

To understand the epidemiological characteristics of workers who are burn patients, and to provide basis for prevention and treatment of burn at work. We investigated 4 078 burn workers in 9 cities in Hunan provincial enterprises, and different trades managed by municipal government from January 1st, 2005 to December 31st, 2010. The incidence rate of employment injury was 94.84 per 10 thousand workers each year in Hunan. That of the enterprises directly managed by Hunan Medical Insurance Bureau was 93.71 per 10 thousand workers each year, and that of the enterprises managed by Medical Insurance Bureaus of cities or districts was 95.02 per 10 thousand workers each year. The burn incidence accounted for 2.00% of the total work injury in Hunan Province (7.35% in the enterprises directly managed by Hunan Medical Insurance Bureau and 1.39% in districts and industries). There were 4 078 burn patients from the sorted units [1 823 out-patients and 2 255 in-patients; 3 498 males (85.78%) and 580 females (14.22%) with age of (38.64±11.56) years]. The ratio between males and females was 6.03:1. Among the 4 078 patients, 2 979 were from the rural area (71.78%), with 1 100 out-patients and 1 379 in-patients. The burn was mostly mild and moderate (64.66%), and mainly occurred on the face, head, arms, and legs (61.55%). The main causes of burn were heating power (74.1%), chemical stuff (14.37%), and electric power (10.78%). The death rate was 1.42%. The burn accidents often happened between July and September. The average time from being burned to be in the hospital for treatment was 3.91 hours. Burn accidents, especially mild and moderate burn, occur mainly in young, married and poorly educated males from rural areas. Heating power, chemical stuff, and electric power are the key causes for burn. Work injury prevention measures should be improved in high risk enterprises.

The information content of analysts reports and bankruptcy risk measures

We evaluate the information content of analysts’ reports and bankruptcy risk quantities towards each other, and examine whether differences arise between low- and high-risk firms and between stock recommendations and earnings forecasts. We reveal that past changes in analysts’ reports convey valuable information towards future developments in default risk measures, analysts’ outcome rely upon lagged modifications in corporate creditworthiness, and the predictive power in both directions is more pronounced among high risk enterprises. Furthermore, default likelihoods and analysts’ recommendations and forecasts Granger cause each other, generating a significant feedback system. Moreover, earnings forecasts portray more profound relations to credit risk quantities than stock recommendations.