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Open Access
Article
Publication date: 15 January 2024

P. Nagesh, Sindu Bharath, T.S. Nanjundeswaraswamy and S. Tejus

The present study is intended to assess the risk factors associated with digital buying. Also aims to design and develop an instrument to assess the digital buyers risk factor

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Abstract

Purpose

The present study is intended to assess the risk factors associated with digital buying. Also aims to design and develop an instrument to assess the digital buyers risk factor score (DBRFS) in light of pandemic.

Design/methodology/approach

Present investigation uses a quantitative approach to achieve the stated objectives. The survey instrument for the purpose of assessing risk factors associated with digital buying was developed in two phases. The present study adopts theory of planned behaviour (TPB), built based on the theory of reasoned action (TRA). The data were collected and analysed considering 500 valid responses, sampling unit being digital buyers using social media platforms in tyre-II city of India. The data collection was undertaken between June 2021 and August 2021. The instrument is designed and validated using exploratory factor analysis (EFA) followed by confirmatory factor analysis (CFA).

Findings

The present research identified six perceived risk factors that are associated with digital buying; contractual risk, social risk, psychological risk, perceived quality risk, financial risk and time risk. The DBRFS of male is 3.7585, while female is 3.7137. Thus, risk taking by the male and female is at par. For the age group 15–30, DBRFS is 3.6761, while age group 31–45 noted as 3.7889 and for the 46–50 age groups it is measured as 3.9649.

Practical implications

The marketers are expected to have the knowledge about how people responds to the pandemic. The outcome of the research helps to understand consumer behaviour but disentangling consumer’s “black box” is challenging especially during global distress. The present study outcome helps the digital shopkeepers to respond positively to meet the needs of digital buying.

Originality/value

The scale development and to quantify the DBRFS. A deeper understanding of about digital consumers during pandemics will help digital shopkeepers to connect issues related digital buying.

Details

PSU Research Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-1747

Keywords

Open Access
Article
Publication date: 28 February 2023

Onyeka John Chukwuka, Jun Ren, Jin Wang and Dimitrios Paraskevadakis

Unforeseen events can disrupt the operational process and negatively impact emergency resources optimization and its supply chain. A limited number of studies have addressed risk

2513

Abstract

Purpose

Unforeseen events can disrupt the operational process and negatively impact emergency resources optimization and its supply chain. A limited number of studies have addressed risk management issues in the context of emergency supply chains, and this existing research lacks inbuilt and practical techniques that can significantly affect the reliability of risk management outcomes. Therefore, this paper aims to identify and practically analyze the specific risk factors that can most likely disrupt the normal functioning of the emergency supply chain in disaster relief operations.

Design/methodology/approach

This paper has used a three-step process to investigate and evaluate risk factors associated with the emergency supply chain. First, the study conducts a comprehensive literature review to identify the risk factors. Second, the research develops a questionnaire survey to validate and classify the identified risk factors. At the end of this step, the study develops a hierarchical structure. Finally, the research investigates the weighted priority of the validated risk factors using the fuzzy-analytical hierarchy process (FAHP) methodology. Experts were required to provide subjective judgments.

Findings

This paper identified and validated 28 specific risk factors prevalent in emergency supply chains. Based on their contextual meanings, the research classified these risk factors into two main categories: internal and external risk factors; four subcategories: demand, supply, infrastructural and environmental risk factors; and 11 risk types: forecast, inventory, procurement, supplier, quality, transportation, warehousing, systems, disruption, social and political risk factors. The most significant risk factors include war and terrorism, the absence of legislative rules that can influence and support disaster relief operations, the impact of cascading disasters, limited quality of relief supplies and sanctions and constraints that can hinder stakeholder collaboration. Therefore, emergency supply chain managers should adopt appropriate strategies to mitigate these risk factors.

Research limitations/implications

This study will contribute to the general knowledge of risk management in emergency supply chains. The identified risk factors and structural hierarchy taxonomic diagram will provide a comprehensive risk database for emergency supply chains.

Practical implications

The research findings will provide comprehensive and systemic support for respective practitioners and policymakers to obtain a firm understanding of the different risk categories and specific risk factors that can impede the effective functioning of the emergency supply chain during immediate disaster relief operations. Therefore, this will inform the need for the improvement of practices in critical aspects of the emergency supply chain through the selection of logistics and supply chain strategies that can ensure the robustness and resilience of the system.

Originality/value

This research uses empirical data to identify, categorize and validate risk factors in emergency supply chains. This study contributes to the theory of supply chain risk management. The study also adopts the fuzzy-AHP technique to evaluate and prioritize these risk factors to inform practitioners and policymakers of the most significant risk factors. Furthermore, this study serves as the first phase of managing risk in emergency supply chains since it motivates future studies to empirically identify, evaluate and select effective strategies that can eliminate or minimize the effects of these risk factors.

Details

Journal of Humanitarian Logistics and Supply Chain Management, vol. 13 no. 3
Type: Research Article
ISSN: 2042-6747

Keywords

Open Access
Article
Publication date: 25 February 2020

Zsolt Tibor Kosztyán, Tibor Csizmadia, Zoltán Kovács and István Mihálcz

The purpose of this paper is to generalize the traditional risk evaluation methods and to specify a multi-level risk evaluation framework, in order to prepare customized risk

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Abstract

Purpose

The purpose of this paper is to generalize the traditional risk evaluation methods and to specify a multi-level risk evaluation framework, in order to prepare customized risk evaluation and to enable effectively integrating the elements of risk evaluation.

Design/methodology/approach

A real case study of an electric motor manufacturing company is presented to illustrate the advantages of this new framework compared to the traditional and fuzzy failure mode and effect analysis (FMEA) approaches.

Findings

The essence of the proposed total risk evaluation framework (TREF) is its flexible approach that enables the effective integration of firms’ individual requirements by developing tailor-made organizational risk evaluation.

Originality/value

Increasing product/service complexity has led to increasingly complex yet unique organizational operations; as a result, their risk evaluation is a very challenging task. Distinct structures, characteristics and processes within and between organizations require a flexible yet robust approach of evaluating risks efficiently. Most recent risk evaluation approaches are considered to be inadequate due to the lack of flexibility and an inappropriate structure for addressing the unique organizational demands and contextual factors. To address this challenge effectively, taking a crucial step toward customization of risk evaluation.

Details

International Journal of Quality & Reliability Management, vol. 37 no. 4
Type: Research Article
ISSN: 0265-671X

Keywords

Open Access
Article
Publication date: 14 April 2022

Hung Duy Nguyen and Laura Macchion

Risks in implementing green building (GB) projects have emerged as a significant obstacle for GB development, especially in developing countries. In recent years, both academics…

2136

Abstract

Purpose

Risks in implementing green building (GB) projects have emerged as a significant obstacle for GB development, especially in developing countries. In recent years, both academics and construction practitioners have paid considerable attention to the risks associated with GB. In this study, the authors aimed to create a comprehensive risk assessment model that considers three crucial risk features: impact level, probability of occurrence and risk manageability.

Design/methodology/approach

In the research, authors adopted the mean scoring and fuzzy synthetic evaluation method to assess GB risks. Based on expert assessments, this model can determine the significance of risk factors, risk groups and overall risk. Notably, this research applied the proposed model to assess GB risks in Vietnam by surveying 58 GB experienced professionals.

Findings

The findings revealed that GB risks are relatively high in Vietnam, implying that risk management is essential for GB projects to succeed. The results also showed that “lack of experience of GB designers” is the most critical factor, and “human resources risk in the design phase” is the top crucial risk group.

Originality/value

This study contributes a novel and practical model to help practitioners assess risks in GB projects. In addition, this research offers detailed GB risk evaluations in Vietnam and thus could be a valuable reference for construction practitioners and future studies.

Details

Engineering, Construction and Architectural Management, vol. 30 no. 7
Type: Research Article
ISSN: 0969-9988

Keywords

Open Access
Article
Publication date: 15 March 2024

Mohammadreza Tavakoli Baghdadabad

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Abstract

Purpose

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Design/methodology/approach

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

Findings

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Originality/value

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Open Access
Article
Publication date: 25 September 2019

Chamil W. Senarathne

The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia…

1903

Abstract

Purpose

The purpose of this paper is to examine whether Fama–French common risk-factor portfolio investors herd on a daily basis for five developed markets, namely, Europe, Japan, Asia Pacific ex Japan, North America and Globe.

Design/methodology/approach

To examine the herd behavior of common risk-factor portfolio investors, this paper utilizes the cross-sectional absolute deviations (CSAD) methodology, covering a daily data sampling period of July 1990 to January 2019 from Kenneth R. French-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama–French five-factor model.

Findings

The results do not provide evidence for herding under normal market conditions, either when reacting to fundamental information or non-fundamental information, for any region under consideration. However, Fama–French common risk-factor portfolio investors mimic the underlying risk factors in returns related to size and book-to-market value, size and operating profitability, size and investment and size and momentum of the equity stocks in European and Japanese markets during crisis period. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions except for Japan. Ancillary findings are discussed under conclusion.

Research limitations/implications

Further research on new risk factors explaining stock return variation may help improve the model performance. The performance can be improved by adding new risk factors that are free from behavioral bias but significant in explaining common stock return variation. Also, it is necessary to revisit the existing common risk factors in order to understand behavioral aspects that may affect cost of capital calculations (e.g. pricing errors) and valuation of investment portfolios.

Originality/value

This is the first paper that examines the herd behavior (fundamental and non-fundamental) of Fama–French common risk-factor investors using five-factor model.

Details

Journal of Capital Markets Studies, vol. 3 no. 2
Type: Research Article
ISSN: 2514-4774

Keywords

Open Access
Article
Publication date: 20 June 2022

Rangapriya Saivasan and Madhavi Lokhande

Investor risk perception is a personalized judgement on the uncertainty of returns pertaining to a financial instrument. This study identifies key psychological and demographic…

7197

Abstract

Purpose

Investor risk perception is a personalized judgement on the uncertainty of returns pertaining to a financial instrument. This study identifies key psychological and demographic factors that influence risk perception. It also unravels the complex relationship between demographic attributes and investor's risk attitude towards equity investment.

Design/methodology/approach

Exploratory factor analysis is used to identify factors that define investor risk perception. Multiple regression is used to assess the relationship between demographic traits and factor groups. Kruskal–Wallis test is used to ascertain whether the factors extracted differ across demographic categories. A risk perception framework based on these findings is developed to provide deeper insight.

Findings

There is evidence of the relationship and influence of demographic factors on risk propensity and behavioural bias. From this study, it is apparent that return expectation, time horizon and loss aversion, which define the risk propensity construct, vary significantly based on demographic traits. Familiarity, overconfidence, anchoring and experiential biases which define the behavioural bias construct differ across demographic categories. These factors influence the risk perception of an individual with respect to equity investments.

Research limitations/implications

The reference for the framework of this study is limited as there has been no precedence of similar work in academia.

Practical implications

This paper establishes that information seekers make rational decisions. The paper iterates the need for portfolio managers to develop and align investment strategies after evaluation of investors' risk by including these behavioural factors, this can particularly be advantageous during extreme volatility in markets that concedes the possibility of irrational decision making.

Social implications

This study highlights that regulators need to acknowledge the investor's affective, cognitive and demographic impact on equity markets and align risk control measures that are conducive to market evolution. It also creates awareness among market participants that psychological factors and behavioural biases can have an impact on investment decisions.

Originality/value

This is the only study that looks at a three-dimensional perspective of the investor risk perception framework. The study presents the relationship between risk propensity, behavioural bias and demographic factors in the backdrop of “information” being the mediating variable. This paper covers five characteristics of risk propensity and eight behavioural biases, such a vast coverage has not been attempted within the academic realm earlier with the aforesaid perspective.

Details

Asian Journal of Economics and Banking, vol. 6 no. 3
Type: Research Article
ISSN: 2615-9821

Keywords

Open Access
Article
Publication date: 22 November 2023

Christopher Owen Cox and Hamid Pasaei

According to the Project Management Institute, 70% of projects fail globally. The causes of project failure in many instances can be identified as non-technical or behavioral in…

Abstract

Purpose

According to the Project Management Institute, 70% of projects fail globally. The causes of project failure in many instances can be identified as non-technical or behavioral in nature arising from interactions between participants. These intangible risks can emerge in any project setting but especially in project settings having diversity of cultures, customs, beliefs and traditions of various companies or countries. This paper provides an objective framework to address these intangible risks.

Study design/methodology/approach

This paper presents a structured approach to identify, assess and manage intangible risks to enhance a project team’s ability to meet its objectives. The authors propose a user-friendly framework, Intangible Risk Assessment Methodology for Projects (IRAMP), to address these risks and the factors that cause them. Meta-network (e.g., a network of networks) simulation and established social network analysis (SNA) measures provide a quantitative assessment and ranking of causal events and their influence on the intangible behavior centric risks.

Findings

The proposed IRAMP and meta-network approach were utilized to examine the project delivery process of an international energy firm. Data were gathered using structured interviews, surveys and project team workshops. The use of the IRAMP to highlight intangible risk areas underpinned by the SNA measures led to changes in the company’s organizational structure to enhance project delivery effectiveness.

Originality/value

This work extends the existing project risk management literature by providing a novel objective approach to identify and quantify behavior centric intangible risks and the conditions that cause them to emerge.

Details

International Journal of Industrial Engineering and Operations Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2690-6090

Keywords

Open Access
Article
Publication date: 6 March 2020

Juntima Nawamawat, Wipa Prasittichok, Thansinee Prompradit, Suwapich Chatchawanteerapong and Vipaporn Sittisart

The purpose of this research aimed to identify the risk factors for non-communicable diseases (NCDs) and determine their prevalence and characteristics in a semi-urban community…

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Abstract

Purpose

The purpose of this research aimed to identify the risk factors for non-communicable diseases (NCDs) and determine their prevalence and characteristics in a semi-urban community in Thailand.

Design/methodology/approach

The survey was designed to determine the type and prevalence of risk factors for NCDs among populations in semi-urban areas in the Takianleurn subdistrict of Nakhonsawan, Thailand. A stratified random sampling design was used to select 352 subjects, aged over 15 years and living in this region. Data were collected by questionnaire and analyzed to show frequency, percentage, mean, standard deviation, chi-squared, prevalence rate and prevalence rate ratio with significance indicated by p-value < 0.05 and confidence interval 95 percent.

Research limitations/implications

The implications for the future study are as follows: (1) a comparative study between rural and urban or rural and semi-urban or urban and semi-urban should be studied to understand how risk factors cause NCDs and (2) Participatory action research should be introduced to assess the effectiveness of the decrease in NCDs risk factors management in the community.

Practical implications

(1) To scale up public health interventions measures to promote and prevent NCDs should be focused on behavioral risk factors of NCDs such as eating habits, physical activity, smoking and alcohol consumption. (2) Health promotion and disease prevention for decrease in NCDs should consist of reducing alcohol consumption and enhancing healthy eating habits and (3) To manage unmodified risk factors such as age, gender, educational level, etc. should be focused on surveillance and physical health examination yearly.

Findings

The results revealed a prevalence of NCDs of 14.8 percent. The main unmodifiable risk factors affecting NCD prevalence were gender, age, low level of education and poverty; behavioral risk factors included not eating enough fruit and vegetables, high alcohol consumption, a high-fat fast-food diet and smoking.

Originality/value

The prevention of NCDs requires more focus on changing the eating behavior of high-risk groups and providing easily accessible health care information and services. The entire family should be involved in the process of maintaining good health and disease prevention for all family members.

Details

Journal of Health Research, vol. 34 no. 4
Type: Research Article
ISSN: 0857-4421

Keywords

Open Access
Article
Publication date: 26 October 2021

Hung Duy Nguyen, Quang Nhat Huu Do and Laura Macchion

Risks are considered a significant obstacle to Green Building (GB) development and have recently received significant attention from both construction practitioners and academics…

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Abstract

Purpose

Risks are considered a significant obstacle to Green Building (GB) development and have recently received significant attention from both construction practitioners and academics. This study aimed to identify critical GB risks and explore the relationship between participants' characteristics and risk assessment.

Design/methodology/approach

Firstly, a list of GB risks was developed based on a comprehensive literature review and interviewing GB experts. After that, a survey of 207 construction professionals was then conducted to validate these GB risk factors. Finally, this research adopted the ANOVA test and hierarchical regression analysis to examine the relationship between participants' characteristics and risk assessment.

Findings

The results provided a list of GB risks classified and evaluated according to the GB project life cycle and, thus, may serve as a helpful reference for GB practitioners. Notably, the ANOVA analysis revealed that risk assessment negatively correlates with participants' GB experience, while their industry experience does not affect risk assessment. Furthermore, the hierarchical regression analysis proved that participant roles do not moderate the association between risk assessment and GB experience.

Originality/value

This study contributed to GB literature by implementing empirical research on GB risks in a developing country. The results implied the essential role of professionals with rich GB experience in risk management in GB projects. Furthermore, this research could help construction practitioners understand GB risks adequately and thereby have better risk-management strategies for future GB projects.

Details

Engineering, Construction and Architectural Management, vol. 30 no. 2
Type: Research Article
ISSN: 0969-9988

Keywords

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