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Open Access
Article
Publication date: 8 February 2023

Edoardo Ramalli and Barbara Pernici

Experiments are the backbone of the development process of data-driven predictive models for scientific applications. The quality of the experiments directly impacts the model…

Abstract

Purpose

Experiments are the backbone of the development process of data-driven predictive models for scientific applications. The quality of the experiments directly impacts the model performance. Uncertainty inherently affects experiment measurements and is often missing in the available data sets due to its estimation cost. For similar reasons, experiments are very few compared to other data sources. Discarding experiments based on the missing uncertainty values would preclude the development of predictive models. Data profiling techniques are fundamental to assess data quality, but some data quality dimensions are challenging to evaluate without knowing the uncertainty. In this context, this paper aims to predict the missing uncertainty of the experiments.

Design/methodology/approach

This work presents a methodology to forecast the experiments’ missing uncertainty, given a data set and its ontological description. The approach is based on knowledge graph embeddings and leverages the task of link prediction over a knowledge graph representation of the experiments database. The validity of the methodology is first tested in multiple conditions using synthetic data and then applied to a large data set of experiments in the chemical kinetic domain as a case study.

Findings

The analysis results of different test case scenarios suggest that knowledge graph embedding can be used to predict the missing uncertainty of the experiments when there is a hidden relationship between the experiment metadata and the uncertainty values. The link prediction task is also resilient to random noise in the relationship. The knowledge graph embedding outperforms the baseline results if the uncertainty depends upon multiple metadata.

Originality/value

The employment of knowledge graph embedding to predict the missing experimental uncertainty is a novel alternative to the current and more costly techniques in the literature. Such contribution permits a better data quality profiling of scientific repositories and improves the development process of data-driven models based on scientific experiments.

Open Access
Article
Publication date: 28 November 2022

Phil Kelly

In a rapidly changing world, organisations are constantly presented with threats and opportunities and the need to be responsive and resilient. This necessitates developing risk…

Abstract

Purpose

In a rapidly changing world, organisations are constantly presented with threats and opportunities and the need to be responsive and resilient. This necessitates developing risk and uncertainty management capabilities within organisations. This article aims to consider risk and uncertainty competence, knowledge, skills, attitudes and the behaviours required by contemporary managers to protect their organisations from threat and harm, whilst seizing opportunity and reward.

Design/methodology/approach

This article presents answers to three fundamental questions: (1) Do all managers (those not specialising in risk management) need to be competent in risk and uncertainty management? (2) What does risk competence mean? and (3) How can managers develop the capabilities to become risk competent? The content can be used by practicing managers or educators to develop individual and ultimately organisational risk competence.

Findings

All contemporary managers should have some degree of risk competence. Risk competence behavioural indicators and requisite risk knowledge and skills are identified and discussed.

Originality/value

This article provides a contemporary view on risk and uncertainty management competence, drawing on relevant competence frameworks and the existing risk literature.

Details

Journal of Work-Applied Management, vol. 15 no. 2
Type: Research Article
ISSN: 2205-2062

Keywords

Article
Publication date: 23 June 2023

Muhammad Aftab, Maham Naeem, Muhammad Tahir and Izlin Ismail

Exchange rate volatility is an important factor affecting investors and policymakers. This study aims to examine the impact of uncertainties, in terms of changes in economic…

Abstract

Purpose

Exchange rate volatility is an important factor affecting investors and policymakers. This study aims to examine the impact of uncertainties, in terms of changes in economic policy, monetary policy and global financial markets, on exchange rate volatility.

Design/methodology/approach

The study uses the GARCH (1,1) univariate model to calculate exchange rate volatility. Economic and monetary policy uncertainties are measured using news-based indices, while global financial market volatility is measured using the implied volatility index. Panel autoregressive distributed lag modeling is used to analyze the impact of uncertainty on exchange rate volatility in the short and long run. The sample consists of 26 developed and emerging markets from 2005 to 2020.

Findings

The study finds that economic policy uncertainty significantly increases exchange rate volatility. Similarly, global financial market uncertainty leads to increased exchange rate volatility. The effect of US monetary policy uncertainty reduces exchange rate volatility.

Originality/value

This research contributes to the existing literature on exchange rate fluctuations by examining the impact of uncertainties on exchange rate volatility. The study uses novel news-based indices for measuring economic and monetary policy uncertainties and includes a broader sample of emerging and advanced markets. The findings have important implications for investors and policymakers.

Details

Studies in Economics and Finance, vol. 41 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 30 August 2022

Arthur Kearney, Denis Harrington and Tazeeb Rajwani

This study aims to systematically review strategy making in the seaport context during a period of hyper uncertainty.

Abstract

Purpose

This study aims to systematically review strategy making in the seaport context during a period of hyper uncertainty.

Design/methodology/approach

A systematic review using the context, intervention, method and outcome (CIMO) framework is conducted in the domains of strategy making and the port sector taking account of hyper uncertainty caused by Brexit.

Findings

Strategy making (under conditions of hyper uncertainty) is shown to evolve from both stakeholder/supply chain embedded relationships and from chief executive officer and extra organisational inputs. Through an iterative process of internal resourcing, stakeholder engagement strategy development can be seen to impact five key outcomes of an emerging strategy making under hyper uncertainty: economic returns; societal and regional impacts; deeper improved market engagement; improved environmental sensing and potential for dynamic capability development.

Research limitations/implications

The systematic review integrates the existing fragmented research landscape regarding strategy making under hyper uncertainty, provides future research trajectories and develops a framework emerging from the review.

Practical implications

The framework offers port management and policymakers a tool to improve their engagement with strategy making under hyper uncertainty and associated outcomes.

Originality/value

The systematic review consolidates the fragmented literature and presents future research trajectories. The framework of strategy making under hyper uncertainty developed from the CIMO framework develops existing knowledge and contributes to academic theory.

Details

International Journal of Organizational Analysis, vol. 31 no. 7
Type: Research Article
ISSN: 1934-8835

Keywords

Article
Publication date: 3 December 2021

Mohammad Azeem Khan, Masudul Hasan Adil and Shah Husain

The purpose of the paper is to address money demand instability and investigate the impact of economic uncertainty, stock market uncertainty and monetary uncertainty on money…

Abstract

Purpose

The purpose of the paper is to address money demand instability and investigate the impact of economic uncertainty, stock market uncertainty and monetary uncertainty on money demand in India over the period 2003Q1–2019Q4.

Design/methodology/approach

The study checks the stationarity of the variables through standard unit root tests. Based on the mixed order of variables' integration, the authors adopt the autoregressive distributed lag (ARDL) model to confirm the cointegration and check the stability of the money demand function (MDF).

Findings

The findings confirm the presence of cointegration and reveal a well-specified MDF, which exhibits stable parameters. Besides the conventional variables, all forms of uncertainties emerge as the essential long-term determinants of money demand. Long-run findings show that people demand more money to avoid the future financial crunch amid high economic, monetary and stock market uncertainties.

Practical implications

The paper recommends, based on the findings, incorporating the monetary aggregates in the monetary policy framework as one of the essential information variables to control the fluctuation in the price level under the current flexible inflation targeting (FIT) regime.

Social implications

The findings also add to the knowledge of economic agents in terms of the overall response of individuals to changes in different forms of uncertainties, thereby helping to formulate their portfolios more diligently.

Originality/value

The current work is the first of its kind in the Indian context. The incorporation of uncertainty measures in the MDF adds to the existing knowledge on money demand.

Details

International Journal of Emerging Markets, vol. 18 no. 10
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 29 June 2022

Hedi Ben Haddad, Sohale Altamimi, Imed Mezghani and Imed Medhioub

This study seeks to build a financial uncertainty index for Saudi Arabia. This index serves as a leading indicator of Saudi economic activity and helps to describe economic…

119

Abstract

Purpose

This study seeks to build a financial uncertainty index for Saudi Arabia. This index serves as a leading indicator of Saudi economic activity and helps to describe economic fluctuations and forecast economic trends.

Design/methodology/approach

This study adopts an extension of the Jurado et al. (2015) procedure by combining financial uncertainty factors with their net spillover effects on GDP and inflation to construct an aggregate financial uncertainty index. The authors consider 13 monthly financial variables for Saudi Arabia from January 2010 to June 2021.

Findings

The empirical results show that the constructed financial uncertainty estimates are good leading indicators of economic activity. The robustness analysis suggests that the authors’ proposed financial uncertainty estimators outperform the alternative estimates used by other existing approaches to estimate the financial conditions index.

Originality/value

To the best of the authors’ knowledge, this is the first attempt at constructing a financial uncertainty index for Saudi Arabia. This study extends the empirical literature, from which the authors propose a novel conceptual framework for building a financial uncertainty index by combining the approach of Jurado et al. (2015) and the time-varying connectedness network approach proposed by Antonakakis et al. (2020)

Details

International Journal of Emerging Markets, vol. 19 no. 2
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 20 September 2021

Çağlayan Aslan and Senay Acikgoz

The purpose of this paper to examine how global economic policy uncertainty (GEPU) affects export flows of emerging market economies.

Abstract

Purpose

The purpose of this paper to examine how global economic policy uncertainty (GEPU) affects export flows of emerging market economies.

Design/methodology/approach

This study examines the effect of GEPU on 28 emerging markets' export performance. GEPU variable used in the authors’ empirical analysis is measured by partial least square (PLS) factor loading model with the help of 24 countries' economic policy uncertainty index. A panel vector autoregression (VAR) model is employed for the estimations and monthly data over the 2006:01–2019:12 period are used.

Findings

The empirical findings show that while the real external income is the main factor that affects export flows, the real exchange rate is the least effective variable with regard to the variance decomposition, which is not expected by the related economic theory. Panel VAR estimations results confirm the previous studies and find that GEPU affects export flows negatively and significantly.

Originality/value

To the best of the authors’ knowledge, this is the sole study in terms of focusing on the impacts of GEPU on the export volume of emerging markets. The contribution of this paper is twofold. Firstly, a large set of countries with monthly frequented data that assist to capture uncertainties better is used. Secondly, the global economic policy index is obtained by employing the PLS method, which provides more robust results that are calculated with respect to the dependent variable.

Details

International Journal of Emerging Markets, vol. 18 no. 9
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 23 November 2022

Rebecca D. Frank and Laura Rothfritz

This article explores the tension between the concept of a Designated Community (DC) as a foundational element in Trustworthy Digital Repository (TDR) certification and curators'…

Abstract

Purpose

This article explores the tension between the concept of a Designated Community (DC) as a foundational element in Trustworthy Digital Repository (TDR) certification and curators' uncertainty about how to interpret and apply this concept in practice.

Design/methodology/approach

This research employs a qualitative research design involving in-depth semi-structured interviews with stakeholders in the Trustworthy Digital Repository Audit and Certification (TRAC) process.

Findings

The authors' findings indicate that stakeholders in the audit and certification process viewed their uncertainty about how to apply the concept of a DC in the context of an audit as a source of risk for digital repositories and the repositories' collections.

Originality/value

This article brings new insights to digital preservation by applying social theories of risk to trustworthy digital repository audit and certification processes, with an emphasis on the concept of DC.

Details

Journal of Documentation, vol. 79 no. 4
Type: Research Article
ISSN: 0022-0418

Keywords

Open Access
Article
Publication date: 31 January 2023

Moncef Guizani, Dorra Talbi and Gaafar Abdalkrim

This study aims to investigate the influence of economic policy uncertainty (EPU) and geopolitical risk (GPR) on corporate cash holding level and speed of adjustment (SOA) in one…

1406

Abstract

Purpose

This study aims to investigate the influence of economic policy uncertainty (EPU) and geopolitical risk (GPR) on corporate cash holding level and speed of adjustment (SOA) in one of the most important emerging markets in the Middle East and North Africa, Saudi Arabia. It also investigates whether Shariah-compliance as well as financial constraints affect the relationship between both EPU and GPR and corporate cash holdings.

Design/methodology/approach

The study employs GMM regression considering a sample of 140 nonfinancial firms drawn from the Saudi stock market over the period 2002 to 2019.

Findings

The authors find evidence in support of the precautionary motive hypothesis. Facing costly external financing induced by economic policy-related uncertainty and geopolitical tension, Saudi firms tend to accumulate cash as a buffer against negative shocks to their cash flows. The results also show that the positive impact of EPU and GPR on the level of cash holding is less pronounced in Shariah-compliant firms, whereas it is more pronounced in more financially constrained firms. Evidence also reveals that the estimated adjustment coefficients show that Saudi firms adjust more quickly toward their target cash ratio in periods of high economic instability and geopolitical risks.

Practical implications

This study has important implications for managers, policymakers and regulators. For managers, the study is an important reference to understand and design cash management policies by considering factors measured at the country level. More specifically, managers should pay more attention to periods of heightened uncertainties and geopolitical tensions in which the availability of funds is reduced. For policymakers and regulators, this study may be useful in assessing the effect of economic instability on firm’s cash holding decision. Therefore, in an effort to increase the supply of external financing available to firms, policymakers may devise investment friendly environment by controlling country-specific factors.

Originality/value

This paper shows how EPU and GPR as institutional environment factors affect cash holding decision in an oil-rich country.

Details

Arab Gulf Journal of Scientific Research, vol. 41 no. 2
Type: Research Article
ISSN: 1985-9899

Keywords

Open Access
Article
Publication date: 23 December 2022

Rouzbeh Shabani, Tobias Onshuus Malvik, Agnar Johansen and Olav Torp

Uncertainty management (UM) in projects has been a point of attention for researchers for many years. Research on UM has mainly been aimed at uncertainty analyses in the front-end…

2047

Abstract

Purpose

Uncertainty management (UM) in projects has been a point of attention for researchers for many years. Research on UM has mainly been aimed at uncertainty analyses in the front-end and managing uncertainty in the construction phase. In contrast, UM components in the design phase have received less attention. This research aims to improve knowledge about the key components of UM in the design phase of large road projects.

Design/methodology/approach

This study adopted a literature review and case study. The literature review was used to identify relevant criteria for UM. These criteria helped to design the interview guide. Multiple case study research was conducted, and data were collected through document study and interviews with project stakeholders in two road projects. Each case's owners, contractors and consultants were interviewed individually.

Findings

The data analysis obtained helpful information on the involved parties, process and exploit tools and techniques during the design phase. Johansen's (2015) framework [(a) human and organisation, (b) process and (c) tools and techniques)] was completed and developed by identifying relevant criteria (such as risk averse or risk-taker, culture and documentation level) for each component. These criteria help to measure UM performance. The authors found that owners and contractors are major formal UM actors, not consultants. Empirical data showed the effectiveness of Web-based tools in UM.

Research limitations/implications

The studied cases were Norwegian, and this study focussed on uncertainties in the project's design phase. Relevant criteria did not cover all the criteria for evaluating the performance of UM. Qualitative evaluation of criteria allows further quantitative analysis in the future.

Practical implications

This paper gave project owners and managers a better understanding of relevant criteria for measuring UM in the owners and managers' projects. The paper provides policy-makers with a deeper understanding of creating rigorous project criteria for UM during the design phase. This paper also provides a guideline for UM in road projects.

Originality/value

This research gives a holistic evaluation of UM by noticing relevant criteria and criteria's interconnection in the design phase.

Details

International Journal of Managing Projects in Business, vol. 16 no. 8
Type: Research Article
ISSN: 1753-8378

Keywords

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