Risk Management Practices Research Articles

Evaluating the project management maturity in the construction industry of developing countries, Ghana in perspective

This study evaluates construction contractors' project management maturity levels, examining various factors such as ISO certification, capacity building programs, contractor type (road vs. building), and specific knowledge areas. Data was gathered through surveys and assessments to evaluate the maturity of different processes and practices. The findings reveal various maturity levels across the industry, with significant variations among contractors. Common challenges include gaps in risk management, safety protocols, and overall project management practices. Factors such as ISO certification and capacity-building programs positively impacted maturity levels. However, targeted training and education are crucial for addressing specific knowledge gaps. The analysis identifies critical recommendations for improving project management maturity in the construction industry, including fostering a culture of continuous improvement, promoting knowledge sharing, implementing tailored training programs, and developing industry-specific standards. By addressing these challenges and implementing appropriate strategies, the construction industry can enhance project outcomes, reduce costs, and improve competitiveness.

Managing the risk of suicide in a psychiatry clinic: An ethnographic study on the work atmosphere of nurses during the Covid-19 pandemic

The aim of this study was to describe the approaches of nurses working in an inpatient psychiatry clinic during the pandemic period to managing suicide risk in the context of their work atmosphere. This ethnographic research design used a sample of 13 psychiatric nurses in a psychiatric clinic in Ankara, Turkey. Data were collected with in-depth interviews and 612h of observation. Qualitative thematic analysis was used for data analysis. Two themes emerged from the data analysis, including ‘De-prioritizing the uniqueness of the patient in managing suicide risk’ and ‘A condition that remains important for uniqueness: personality disorders’. The current risk assessment methods for suicide, pandemic measures, and past inadequacies in the approach to patients with personality disorders have revealed the risk of alienating from the individual risk factors as well as the patients' history in risk management. Risk management practices that consider the psychosocial assets of patients at risk of suicide, addressing the risk level with a safe measurement scale and performing triage according to this grading system can provide an atmosphere that allows nurses to make risk assessments greater self-confidence.

The Application of Fintech (Financial Technology) and Risk Management

This paper provides a comprehensive overview of the impact and applications of financial technology (Fintech) across various sectors such as payment and clearing, lending, wealth management, insurance, and risk management. It highlights the transformative potential of Fintech in enhancing financial efficiency, inclusiveness, and risk management through the utilization of modern technologies like big data, artificial intelligence, and blockchain. The paper delves into specific examples such as online payment systems, peer-to-peer lending platforms, robo-advisory services, and blockchain technology. Furthermore, it discusses the challenges and risks associated with Fintech, including regulatory issues, security concerns, and the need for effective risk management practices. The abstract emphasizes the importance of responsible risk management in ensuring financial stability and preventing systemic risks in the Fintech sector. Overall, the abstract provides a comprehensive understanding of the role of Fintech in shaping the future of the financial industry and emphasizes the need for effective regulation, risk management, and technological innovation to harness its full potential while mitigating associated risks.

Impact of digital transformation on financial stability in emerging markets: evidence from Ethiopia

This insightful study delves into the intricate relationship between key digital finance adoption indicators and the stability of the banking sector in Ethiopia, an emerging economy undergoing rapid digitalization. Covering annual data from 1991 to 2022 and utilizing an autoregressive distributed lag (ARDL) approach alongside Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) techniques, the researchers uncover thought-provoking findings that challenge conventional wisdom. Contrary to expectations of a positive long-term association, the analysis reveals a statistically significant negative relationship between both internet usage and mobile phone subscriptions and Ethiopia's banking system's financial stability. This robust result, validated through rigorous robustness checks, suggests that the breakneck pace of digital transformation may outpace the development of robust regulatory frameworks and risk management practices, ultimately undermining the overall stability of the financial sector. Interestingly, the short-term analysis presents a more nuanced picture, with mobile phone subscriptions exhibiting a stabilizing effect in the immediate aftermath. This intriguing dichotomy highlights the complex and evolving dynamics at play, where the challenges of integrating digital finance with the traditional banking infrastructure and the persistence of informal financial activities potentially offset the benefits of enhanced financial inclusion and transaction efficiency. These thought-provoking findings carry crucial implications for policymakers and industry stakeholders navigating the digital revolution. Policy implications emphasize the need for robust regulatory frameworks, enhanced cyber security measures, and improved financial literacy. The findings underscore the importance of a nuanced approach to digital finance in emerging economies, advocating for continuous adaptation of policies to address the evolving landscape of financial technology. Continued inquiry can better guide policies that foster digital transformation while safeguarding stability, especially in rapidly developing regions like sub-Saharan Africa.Graphical

SUPPLY CHAIN RISK MANAGEMENT: STRATEGIC SOLUTIONS FOR REDUCING TRANSPORTATION AND LOGISTICS RISKS

This study investigates strategic approaches to mitigating risks in transportation and logistics within global supply chains, focusing on the integration of advanced technologies, flexibility, collaboration, and sustainability. By employing the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, the study systematically reviews 37 key articles to provide a comprehensive understanding of modern risk management practices. The findings reveal the increasing reliance on technologies such as predictive analytics, the Internet of Things (IoT), and blockchain for enhancing visibility, monitoring, and decision-making. Flexibility in logistics networks, including alternative sourcing and diversified transportation routes, emerged as crucial for mitigating disruptions, while collaboration among supply chain partners, particularly through real-time information sharing, significantly reduces risk exposure. Additionally, the study highlights the growing integration of sustainability into risk management, addressing climate change and environmental risks. This research underscores the need for proactive, adaptable, and sustainable risk management strategies to maintain supply chain resilience in the face of evolving global challenges.

Firm Characteristics, Interest Rate And Financial Performance Of Microfinance Banks In Kenya

Microfinance Banks gives the forte to improve the economic activity of low-income individuals and eliminate poverty, resulting in economic progress. However, microfinance's Banks financial performance in Kenya has declined over time. The objective of this study is to investigate firm characteristics, interest rate and financial performance of microfinance banks in Kenya. The study was grounded on buffer capital, efficiency structure and interest rate parity theories. The study research methodology rested on positivism research philosophy. Research design was explanatory non-experimental design. Secondary panel data was utilized. 13 microfinance banks in Kenya were target. Information was gathered using secondary data sources from microfinance banks accounting report from 2016 to 2022. Data was analysed using descriptive and inferential statistics. The study used multiple regressions and Pearson’s Product Moment Correlation analysis. All ethical considerations were appropriately observed. Findings indicated that adequacy of capital exerts a notable and direct effect on financial performance, underscoring the importance for microfinance banks in Kenya to prioritize maintaining sufficient capital levels to support their overall stability and financial outcomes. Conversely, quality of asset demonstrates a significant and adverse influence on performance financially, highlighting the need for microfinance banks to enhance their credit assessment processes to ensure the quality of their loan portfolios. The research revealed that efficiency of management has an insignificant direct influence on financial performance of Microfinance banks. To address this, microfinance banks are advised to invest in comprehensive management training programs and capacitybuilding initiatives to improve operational effectiveness and decision-making processes. Earning ability, on the other hand, exhibits a considerable and direct influence on financial performance. Microfinance banks should thus focus on continuous innovation of their products and services to enhance their earning potential and overall financial outcomes. Liquidity levels exhibit an insignificant and inverse effect on the financial performance outcomes. To mitigate potential risks, microfinance banks should establish comprehensive policies and procedures to monitor and manage liquidity effectively. Interestingly, the study reveals that the connection concerning firm-level attributes and financial outcomes for microfinance institutions in Kenya does not appear to be subject to a substantial moderating influence from interest rate movements. Therefore, the survey recommends that microfinance banks concentrate on improving governance structures, operational efficiency, risk management practices, and asset quality. This can be achieved through capacity-building programs, training initiatives, and adopting best practices from successful microfinance institutions. Strengthening these firm characteristics will enable microfinance banks to enhance their financial performance, irrespective of interest rate fluctuations

Investing during a Fintech revolution: The hedge and safe haven properties of Bitcoin and Ethereum

Global financial markets have witnessed significant transformations in response to the worldwide spread of the Covid-19 pandemic, resulting in heightened risk and alterations in inter-market relationships. Both cryptocurrency markets and conventional equity markets have been influenced by these changes. This study aims to investigate the potential hedging and safe haven benefits of Bitcoin and Ethereum against risks in Asian emerging stock markets under various Covid-19 pandemic contexts including the onset of the pandemic, varying levels of panic, the extent of media attention, and sentiment analysis. Utilizing the dynamic correlation coefficients derived from the DCC-GARCH methodology, our analysis indicates that, both Bitcoin and Ethereum do not effectively serve as hedges or safe havens for major Asian emerging stock markets during the Covid-19 outbreak. These results remain robust during more extreme periods characterized by high panic, intense media attention, and negative sentiment. Nevertheless, an noteworthy exception is the case where Ethereum exhibits strong hedging properties specifically in the context of the Pakistan equity market. Recognizing these unique hedge and safe haven potential of cryptocurrencies can contribute to enhancing the effectiveness of investment strategies and risk management practices during periods of market turbulence.

The Effect Of Non-Performing Loans On The Financial Performance Of Commercial Banks In Ghana

Non-performing loans (NPLs) are considered financial pollution as a result of their high risk and effect on the profitability and liquidity of banks. The study examines the effect of non-performing loans on the financial performance of commercial banks in Ghana. The study is guided by the following research objectives: examining the level of NPLs of commercial banks in Ghana, examining the relationship between loan-to-deposit ratio and profitability and determining the relationship between NPLs and the financial performance of selected commercial banks. The data for this study was obtained from financial institutions from 2010 to 2021. The NPL rate shows some volatility but generally decreases from 2010 to 2014. It reached its lowest point in 2014 at 11.3%. However, from 2015 to 2017, there was a notable increase in the NPL rate, with a peak of 21.59% in 2017. The findings show that non-performing loans have a positive and significant relationship with ROA. The finding indicates a positive and significant relationship between loan deposit ratios. The study recommends the need to implement strong risk management practices to identify and mitigate potential credit risks proactively. This includes monitoring and early detection of deteriorating loan accounts, regular portfolio reviews, and stress testing. By identifying high-risk loans early, banks can take timely actions to mitigate potential losses and prevent loans from becoming non-performing. Also, management has to invest in training and development programs for loan officers and credit staff. Ensure they have the necessary skills and knowledge to accurately assess creditworthiness, detect warning signs, and effectively handle loan monitoring and collections.

Effect of Economic Policies on Income Inequality: A Comparative Study of Switzerland and Bolivia

Purpose: The aim of the study was to examine the effect of economic policies on income inequality: a comparative study of Switzerland and Bolivia. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Switzerland, with its advanced economy, implements progressive tax policies, robust social welfare programs, and equitable education systems, contributing to relatively low income inequality. In contrast, Bolivia, a developing nation, faces challenges in reducing income inequality due to less effective economic policies, limited social safety nets, and a larger informal sector. The study underscores that while Switzerland's policies effectively mitigate income disparities, Bolivia's efforts are hindered by structural economic issues and policy limitations. Unique Contribution to Theory, Practice and Policy: The Kuznets curve theory, the human capital theory & the social stratification theory may be used to anchor future studies of climate change on risk management practices in agriculture in Switzerland. From a practical perspective, the study provides actionable insights for improving the design and implementation of economic policies. The study offers several policy recommendations for both developed and developing economies. Policymakers in Switzerland should consider revising tax policies to address the increased burden on higher-income individuals and improve the overall equity of the system.

Enterprise Risk Management and Performance of Insurance Companies

Purpose: This research aims to investigate the impact of risk identification (RI), risk assessment (RA), risk mitigation (RM), and risk management (RMG) on institutional performance (IP). The objective is to analyze both individual and combined effects of these risk management practices on institutional outcomes.Methods: The study used descriptive and causal research design. The data were collected using structured questionnaire with five-point likert scale, targeting 151 managers, officers, and department heads from both life and non-life insurance sectors from Rupendehi district. The correlation analysis was used to examine the relationships between variables and Stepwise regression analysis to explore the effect.Results: It reveals that RA, RM and RMG had significant positive effect on institutional performance at individual level. When they are analyzed in single model RA and RM were only found significant. RI, while consistently positive, was found to be statistically insignificant across all models. RA and RM are significant variables of institutional performance, while RI and RMG play lesser roles.Conclusion: it is necessary to acquire deeper understanding on how risk management practices enhance institutional outcomes.

Disaster management training for environmental health: A narrative literature review.

The review suggests that with proper basic training for disaster responders, more lives can be saved during and after disasters. It highlights the insufficiency of current training programmes and emphasises the need for advanced role-specific training for environmental health practitioners. The review emphasises the need for advanced role-specific training, community assessment skills and focused disaster response strategies to enhance environmental health practitioners' ability to respond to disasters and improve public health resilience. Enhanced training, capacity building and collaboration are necessary to improve the competencies, skills and knowledge of environmental health practitioners in disaster risk management and public health emergencies.

The Impact of Digitalization on Credit Risk Management in Microfinance Institutions in Nueva Ecija, Philippines

The study examines the credit risk management practices of lending institutions in rural Nueva Ecija, Philippines, amidst their significant growth and the evolving economic landscape. Given their pivotal role in financial transactions, these institutions face inherent risks which necessitate effective management strategies. Employing a descriptive method, the research identified and evaluated credit risk management practices, focusing on credit analysis and collection policies. The study also assessed the impact of digitalization on these practices within microfinance institutions in the region. Findings indicated that while there was no significant relationship between credit risk management practices and loan collection performance, digitalization emerged as a promising avenue for enhancing efficiency and reducing risks. Metrics such as portfolio-at-risk, on-time repayment rate, and past due rate were used to evaluate loan collection performance. The study underscores the potential of digital tools and platforms in transforming credit risk management, offering opportunities to streamline operations and improve collection policies. It identifies current market challenges and outlines strategies to mitigate risks effectively, thereby enhancing the stability and efficacy of rural lending institutions in Nueva Ecija.

Development and implementation of cost control strategies in oil and gas engineering projects

This review delves into the development and implementation of cost control strategies in oil and gas engineering projects, an area critical for maintaining project viability and profitability amidst fluctuating market conditions. Effective cost control is essential in the oil and gas sector, where projects are often capital-intensive and subject to economic and operational uncertainties. This review examines various cost control methodologies and their application throughout the project lifecycle, from initial planning and budgeting to execution and closure. The paper highlights key cost control strategies, including detailed project cost estimation, budget forecasting, and variance analysis. It discusses the use of advanced project management tools and technologies, such as software for real-time cost tracking and predictive analytics, which enhance decision-making and financial oversight. The review also covers the importance of risk management practices in identifying and mitigating potential cost overruns, emphasizing the role of contingency planning and risk assessment in maintaining financial control. Case studies demonstrate how successful implementation of these strategies can lead to significant cost savings, improved project efficiency, and enhanced financial performance. The challenges associated with cost control, including dealing with unexpected price fluctuations, scope changes, and regulatory compliance issues, are also addressed. Solutions to these challenges, such as adopting flexible budgeting techniques and leveraging data-driven insights, are discussed. The review concludes with recommendations for refining cost control practices in oil and gas engineering projects, including the need for continuous monitoring and adjustment of cost control measures, integrating cost management with overall project strategy, and fostering collaboration among project stakeholders to ensure alignment and accountability.

The impact of predictive analytics on financial risk management in businesses

This paper examines the impact of predictive analytics on financial risk management in businesses. Predictive analytics involves the use of statistical algorithms, machine learning, and data mining techniques to analyze historical data and predict future outcomes. In the context of financial risk management, predictive analytics plays a critical role in identifying, assessing, and mitigating potential financial risks. This paper explores various machine learning algorithms, including neural networks, decision trees, and support vector machines, and their applications in risk management. It also discusses data sources, preprocessing techniques, and the challenges associated with data privacy, model interpretability, and prediction accuracy. The review highlights successful implementations of predictive analytics in financial risk management and provides recommendations for future research and practical applications. As predictive analytics continues to advance, its integration with emerging technologies such as artificial intelligence and blockchain promises to enhance financial risk management practices.

Exploring Financial Risk Management: A Qualitative Study on Risk Identification, Evaluation, and Mitigation in Banking, Insurance, and Corporate Finance

This qualitative literature review explores financial risk management practices across banking, insurance, and corporate finance sectors. The research aims to analyze existing scholarly works to gain insights into risk identification, evaluation, and mitigation strategies. The methodology involves a comprehensive literature search using academic databases such as PubMed, JSTOR, Scopus, and Google Scholar. Inclusion and exclusion criteria are applied to filter relevant sources, and data collection involves reading and critically appraising each selected source. Thematic analysis is employed to identify key findings, themes, and theoretical frameworks. The synthesized findings reveal the importance of risk identification as a fundamental step in effective risk management, encompassing various risks such as credit, market, liquidity, operational, and systemic risks across different sectors. Risk evaluation techniques, including quantitative methods such as value-at-risk modeling and scenario analysis, are crucial for assessing risk impact and likelihood. Risk mitigation strategies, such as financial derivatives, reinsurance, and corporate governance mechanisms, are essential for minimizing risk exposure and enhancing organizational resilience. Challenges such as cybersecurity threats, regulatory complexities, and climate change risks present significant obstacles to risk management. The study highlights the need for integrated risk management approaches that consider emerging threats and uncertainties, promote regulatory cooperation, and leverage technological innovations. The findings contribute to advancing theoretical frameworks and informing practical strategies for effective risk management across industries.

Evaluating the Impact of NPA Dynamics in Selected Indian Banks: A Fifteen-Year Comparative Study

Purpose: The purpose of this study is to investigate the impact on bank profitability, capital structure, and financial stability and trend analysis regarding non-performing assets [NPAs] performance in selected Indian public sector banks vis-à-vis that observed in private sector ones during fifteen years. Methodology: For this research, a quantitative methodological approach has been used, and for quantifiable data, annual reports from four select banks, which include two public sector banks [The Bank of Baroda, The State Bank Of India] as well as two private sector banks [ICICI Bank Ltd., Nainital bank], are analyzed for the period ranging 2008-09 to 2022-23. The analysis calculates Compound Annual Growth Rates [CAGR] and t-tests, Panel Regression models to determine the relationship between GNPA additions, reductions, and write-offs with closing balances. Findings: A major increase in GNPAs is observed in the research among Scheduled Commercial Banks. The public sector banks found an even larger dynamism in NPA growth rates than private sector banks, manifesting the fluctuation to a high degree. The study identifies GNPA addition, reduction, and write-off as key determinants of their respective closing balances. Even though there have been many policy initiatives, the public sector banks [PSBs] remain at a higher level of NPAs due to governance deficits and political interference. The effectiveness of these predictors on GNPA is also confirmed using the Random Effect Model, thus requiring improved risk management practices. Originality: The content of this article is guaranteed to be original.

Credit Risk Management Practices and Profitability of Regulated Digital Credit Providers in Kenya

Credit Risk Management Practices and Profitability of Regulated Digital Credit Providers in Kenya

Techno-finance Literacy and Company Performance: Mediating Role of Risk Management Practices based on Structural Equation Modeling

Techno-finance Literacy and Company Performance: Mediating Role of Risk Management Practices based on Structural Equation Modeling

Evaluating the Factors Affecting the Involvement of Shariah Committees in Risk Management Practices in Islamic Banks: Qualitative Research in the Kingdom of Saudi Arabia

Purpose: This study aims to add to the existing literature on Islamic finance by explaining the ways in which Shariah committees can improve and strengthen their influence over Islamic banks’ risk management practises. This research attempts to break down the complexities of Saudi Arabia’s risk management and identify the crucial role that Shariah committees play in ensuring compliance with Shariah law. Design of study: A qualitative research method was adopted conducting semi-structured interviews. Purposive sampling was used to choose 34 individuals. The data were analyzed using thematic analysis, with the use of NVivo software, which made it easier to identify patterns in the Arabic answers. Following the ethical norms established by RMIT University, obtaining participants’ explicit consent, and guaranteeing anonymity are all of the top priority. Findings: Several factors determine Saudi Islamic Bank Shariah Committee risk management. An effective regulatory framework, Shariah committee-bank leadership communication, and learning of Islamic financial ideas can aid in Shariah compliance. However, interpreting complex financial services within Shariah, inconsistencies between Islamic principles and standard risk management methodologies, and a shortage of competent Shariah scholars with banking and risk management knowledge may slow development. Research is needed to understand Saudi procedures. Originality: The current research comprehensively documented potential factors that facilitate or resist the involvement of Shariah Committees in practices of risk management in Saudi Arabia’s Islamic banks.

INFORMATION ASSET PROTECTION IN ACCOUNTING: ANALYZING CORPORATE GOVERNANCE AND RISK MANAGEMENT THROUGH A BIBLIOMETRIC LENS

This paper deals with the protection of information assets related to accounting, based on bibliometric analysis involving 333 articles from the Web of Science. The five clusters that had been targeted by this research included: Corporate Governance and Board Characteristics (Cluster 1); Financial and Performance Metrics (Cluster 2); Accounting Standards and Reporting (Cluster 3); Risk Management and Disclosure (Cluster 4); Information Quality and Investor Protection (Cluster 5). It aims to define the current boundaries of the literature, identify main tendencies, and give a view on the future course of research. Bibliometric and content analysis methods were applied in the study to certain articles, and the relevance and impact were identified by the data obtained in the period between the years 2007–2024. Consequently, this chapter presents a broad-based analysis of how corporate governance ensures and drives information protection, the presentation of financial metrics internally within the organization, the importance of accounting standards, and the effectiveness of risk management and disclosure practices. The findings shall add to the better understanding of researchers, practitioners, and policy-makers in developing the protection of information assets in the accounting area.