This thesis analyses three hypothetical oil and gas field projects under three different price scenarios before and after budget 2011 in the UKCS. The findings, using DCF technique and Monte Carlo simulation, suggest that the increase in supplementary charge will impair the companies’ cash flow which will affect the exploration effort and render marginally profitable field unviable. This will lead to reduction in government tax revenue in the long run if investments are discouraged. The result of the findings show that UKCS tax system is proportional as government takes the same percentage even when the price is lower. The impact of the proportional tax will be felt more on the gas project because of the general low level of the gas price. The increase in ring fence expenditure supplement rate from 6% to 10% reduces the negative impact of the tax by supporting the new players in investing in the UKCS. As production declines and development cost per unit rises in the North Sea, there is need for a swift fiscal policy that can sustain competitiveness with other oil and gas provinces.
Natural hazard, risk management, good governance are very common in research and development arena. Several studies can be found on disaster risk management while very few are dealt with risk management by local governments in context of socio-economic and political factors. A disaster always means a huge death toll, displacement and inconceivable destruction for any poor country. This study argues that the causes of extensive losses from natural hazards can be effectively addressed and reduced by local governments. Successful example of disaster management in Cuba is an example of the good governments in disaster risk management. Risk management, local governments, self-organisations are analyzed here in respect of Pressure and Release Model, and N-K model. This book presents the perception of community people of two coastal sub-districts of Bangladesh and should help to understand disaster risk in respect of social, political, and economic factors.
This dissertation shows the practical usefulness for asset allocation and risk management purposes of the variance risk premium, an index of market implied risk aversion. With reference to the asset allocation application, the short term forecasting ability of the variance risk premium is tested in a real time experiment by simulating long/ short quarterly rebalanced portfolios invested in the S&P500 based on the prediction of econometric models incorporating the premium. The result indicates that the use of the risk aversion index allows the Investor to outperform both the buy and hold strategy as well as similar strategies not including the risk premium both on a risk adjusted basis as well an on an absolute return one. With reference to the risk management application of the risk aversion index, we modify the filtered historical simulation approach to computation of the value at risk by relaxing the assumption of random walk and replace the model drift with a time varying conditional expectation of short-term stock returns. We find that there is little evidence that value at risk models can be improved with the predictability associated with the variance risk premium.
Deregulation and integration have led banks and financial institutions into competition both on Assets side as well as Liabilities side of the Balance-sheet, forcing them to assume greater and newer risks in their quest for higher returns.Asset Liability Management (ALM) has grown up as a response to the problem of managing modern day business which is exposed to a wide variety of risks in an environment where interest rates, exchange rates and economic conditions are highly volatile.The maturity mismatches and changes in the levels of assets and liabilities cause both liquidity risk and interest-rate risk.The ALM process is the only solution for banks to survive in this rapidly changing environment where the composition and risk profile of their assets and liabilities have a direct impact on their performance and profitability.
Risks are expected in each phase of Software Development. These risks can have affect different parameters like cost, budget, slip of schedule and sometimes some later phases of Software Development Life Cycle. There are different type of risks and have different levels of sensitivity and extent. These risks can occur in different nature of projects in different extent according to Probability of occurrence and its Impacts. This book covers the risks involved in various phases of SDLC and the impacts of these risks on different nature of software projects. Now a day due the flexible features, Rapid Application Development RAD Model is mostly used for the software development, in which these risks are more likely to be occurred. So in this book RCRAD model is introduced in which risk analysis and recovery is introduced in RAD.
The traffic revenue risk, may adversely affect the project cash flows leading to inadequate funds to cover the operational costs, service the debt and deliver expected returns to the investors. Attributes which affect the financial profitability of PPP highway infrastructure projects in India have been identified and their relative importance has been gauged, using a questionnaire survey. A total of 93 responses are received and the respondents comprises of professionals from concessionaire, consultant and owner organizations. Factor analysis of the collected responses has extracted six key factors responsible to influence financial profitability of these projects namely, financial constraints; error in cost estimations; revenue concession forms; litigious attitude of parties; revenue sharing mechanism; and diligence in traffic study conducted for the project. Emerging trends in the Indian Toll Road Sector and possible sources of ancillary revenues in the Indian context have also been identified through expert interviews and case study data collection.
Fixed Income Management practices carried out by the Banks in India are covered in ‘Handbook of Fixed Income Securities: Indian Banking Perspective'' (ISBN 9783639255478) by the same author. Since the Fixed Income literature revolves around the term structure, this volume covers construction and behaviour of the same. The target audience includes officers in treasury and risk management departments of banks in India and students of investments and risk management. This book is also useful to those officers in banks in the emerging economies who lack the quantitative skills imperative for current style of fixed income management or who are not specialized in this area but transferred from a lending or marketing branch to the treasury or risk management department and entrusted with fixed income management.
This work is a literature review that elaborates on the topic of operational risk in financial institutions, its characteristics, measurement, management and underlying regulations. Can proper operational risk management decrease losses in financial institutions? Question that will be the heart of the book and answered accordingly in the conclusion based on secondary sources. In the first two chapters the concept and definition of operational risk will be described following by the third chapter elaborating on the regulatory requirements in the context of operational risk. In the fourth chapter the main tools of operational risk management will be introduced. Finally, in the fifth chapter three cases of operational risk failures were chosen in order to present the importance of problematic explained in preceding chapters.
With increasing pace of changes in technological and business environment, exchange rate fluctuations, and difficulty in predicting competitors behaviour have made the Strategic Investment Decisions (SIDs) making process more acute, thereby often challenging the task of Decision Makers. This book focuses on how individual as well as organizational characteristics influence on risk analysis (RA) in SIDs. In this book, a model is developed to investigate the relationships of individual and organizational characteristics on the extent of usage of RA in SIDs. The model encompasses five organizational characteristics namely Business Strategy, Information System, Rewards and Control Structure, Environmental Uncertainty, and Performance of a Company, and three individual characteristics namely tenure, experience and risk propensity. This book would provide the current practices of RA within the automotive industry in India. The relationship between the extent of usage of RA in SIDs and specific firm characteristics such as firm size, sales volatility, performance volatility, beta, and leverage are also discussed.
Measurement of efficiency and ranking of Indian commercial banks are serious concern not only to the management of an individual bank but also to the policy maker.Non Performing Asset(NPA)reflect the risk factor of the concerned commercial bank. the banks should some how reduce NPAs in order to reduce their risk and become efficient.To measure ecological efficiency we can apply Data Envelopment Analysis (DEA) technique.It can handle multiple inputs and multiple outputs with comfortable ease and it provide a bench mark frontier relative to which an inefficient bank is compared with an efficient one. this book has brought out with several proposed linear programming problems not only to measure ecological efficiency of decision making units, but implements the method to asses eco and deep eco-efficiency of Indian commercial banks.
Apprehension of risk induces certain behavior into a farmer and this would grossly affect enterprise selection and consequently his resource use and allocation pattern. Farmers' attitude to risk was therefore examined. Analysis of data from 165 farmers, obtained using a two-stage sampling procedure was discussed in the book. Sources of risk were market failure, price fluctuation, drought, pest and diseases attack and erratic rainfall. Risk averse farmers were 144 representing 87.3% percent. However risk preference was higher among the males, farmers with larger farm sizes and smaller household sizes. Risk aversion was significantly reduced by income diversification, credit assistance, and land ownership. On the other hand, household size, and education, significantly increased risk aversion. Risk minimized-allocation plans were of higher expected returns than the current practices. It is recommended that farm management research and the extension packages should be channelled to the farmers while considering the socio-economic environments that characterize their risk preferences.
Risk Assessment and Management of Repetitive Movements and Exertions of Upper Limbs,