Risks Matrixes Risks Assessment Tools of Small and Medium-Sized Enterprises： The Case of Latvia

The enterprises need to assess the risk dynamic of financial instability and its impact on small and medium-sized enterprises＇ development, because it is important for enterprises to extend commercial activity and to open a new structural subdivision. We have researched types of risks, their identification, classification, and assessment possibilities in activities of small and medium-sized enterprises. We have used our own algorithm of identification, classification, and assessment of enterprises＇ risks. The goal of this research is to study the economic and financial risks＇ impact on small and medium-sized enterprises＇ development in Latvia. For study purpose, we have carried out the questionnaire of representative small and medium-sized enterprises about the economic and financial risks＇ impact on enterprises＇ development in Latvia. We have created classification of Latvian services sectors＇ economic and financial risks in the period from 2011 to 2012. Those risks have been included in the questionnaire. The risks matrix is a quantitative assessment tool of risks. We have created Latvian service sector economic and financial risks matrix. We have arranged risks by their sizes of possible losses for enterprises. For each risk has been assessed its probability of realization. We have created Latvian accommodations （hotel） and food services technological process risks map. Several parts of the risk map （segments） make it possible to assess each type of the risk separately in its segment. Risks matrix can be used to choose enterprises＇ strategy of risk management. Enterprise＇s strategy of risk management is developed by analysing zones of risk level.     

Association Between Independent Auditor Fees and Firm Value： A Study of Brazilian Public Companies

This article investigates the relationship between fees for audit and non-audit services with Tobin＇s Q. Using a sample of Brazilian public companies in the period from 2009 to 2011, we estimate the association between Tobin＇s Q and the auditors＇ remuneration scaled by total assets. Additionally, to strengthen the conclusions, we present a second model with the remuneration of the auditors in absolute terms. The results suggest a significant relationship between Tobin＇s Q and audit and non-audit fees, positive and negative, respectively. Specifically, increases in audit fees and non-audit fees respectively increase and decrease the Tobin＇s Q of the audited company. The results of this study have important implications for those interested in good corporate governance practices. Managers and board members concerned with value carefully evaluate the remuneration and nature of services creation, when engaging independent auditors, should provided.     

The impact of variation in reporting practices on the validity of recommended birdstrike risk assessment processes for aerodromes

Birdstrikes are a major hazard to aviation; costing millions of pounds a year in damage and delays, as well as occasional hull losses and loss of life. The numbers and species of birds on and around airfields therefore need to be managed. To aid this process, airport staff often use risk assessments to identify which bird species cause the greatest risk and use the outcome to target their bird control effort. To this end, a number of national and international regulators, airports and other organisations recommend, or use, a derivation of a risk assessment process first published in 2006. This was developed using the UK Civil Aviation Authority's birdstrike database, employing data collected between 1976 and 1996. The risk assessment process relies on using the proportion of reported strikes that cause damage to the aircraft as a proxy for the likely severity of the outcome of strike incidents, so any change in the relative level of reporting of damaging and non-damaging strikes may significantly bias the results. The implementation of mandatory birdstrike reporting by the UK CAA in 2004 led to a significant increase in the number of strikes reported. If this involved a disproportionate increase in the number of non-damaging compared to damaging incidents reported, it may have impacted on the accuracy of the risk assessment process. This paper examines how differential reporting of damaging and non-damaging strikes can impact on the risk assessment process. It shows that changes in reporting practices since the original risk assessment was developed have impacted on the apparent birdstrike risk at UK airports, giving a false impression of increasing risk over the period. It makes recommendations for how the process can be better adapted to cope with such changes in the future, and how it should be modified for use in countries with different reporting regimes to that in the UK.     

When do MNCs fail to learn from prior failure experience?

Do multinational corporations (MNCs) learn from their prior failures in international joint ventures (IJVs)? When does decision makers’ cognitive inability hinder MNCs from learning through their prior failure experiences? In the context of IJV survival in subsequent IJV entries, this study compares predictions made from two distinct theoretical perspectives, both of which belong to the behavioural school in strategy literature. According to the performance feedback perspective, MNCs may effectively learn from their prior failure experiences gained in familiar decision‐making contexts. On the other hand, according to the cognitive bias perspective, MNCs may not be able to effectively learn from their prior failure experiences if they inaccurately interpret the causes of their prior failures. The results provide partial support for the notion that MNC decision makers may not be able to effectively learn from their prior failures because of their cognitive biases. Copyright © 2015 ASAC. Published by John Wiley & Sons, Ltd.     

Curriculum assessment through a capstone course: a case study in hospitality and tourism programs

The purpose of this study was to develop a systematic process that other educational institutions and programs could follow to establish a consistent and accurate evaluation method for a capstone course. Hospitality industry professionals and hospitality management faculty were interviewed through focus-group discussions, and a post-focus-group survey was conducted to determine a weighted percentage for each of the nine determined content domains. A test blueprint for a hospitality management capstone course was developed to measure programmatic student learning outcomes based on the weighted domains determined through this study. The results provide a usable instrument for hospitality and tourism management programs to enhance their current assessment methodology.     

汽车保险精算定价模型研究综述

汽车保险定价模型在非寿险精算领域内占有重要地位,本文对车险定价模型一百多年来的研究进展作了综述性的回顾。首先,本文介绍了车险定价模型的先验估费方法;其次着重介绍了时齐的后验估费方法,以及时变的先验后验相结合的精算模型;最后提出了车险定价模型的未来发展方向。     

国内外环境素养测评发展的比较研究

鉴于国内环境素养测评研究处于起步阶段,文章追溯了国内外环境素养测评理论发展的历史脉络,对比分析了国内外学者在环境素养测评研究方面的差距和不足,以期促进国内学者研究水平的提高,促进生态文明、环境友好型社会建设。     

风险评估标准和儿童用品风险评估研究

本文对国内外的风险评估相关标准进行了研究，分析了标准术语、适用领域方面的差异，总结了产品质量安全风险评估的一般过程，并提出了儿童用品质量安全风险评估的构想。     

Assessing impact of regulatory risk on shareholders’ wealth

Research indicates that regulatory risk increases required return on investment by investors and causes underinvestment in industries with high sunk costs. The effects of regulatory changes may be measured by estimating the abnormal returns associated with the event. The results may suggest to regulators what should be encouraged or avoided. This article utilizes a fixed effects regression to examine abnormal returns from changes in Philippine nationalization regulations. The results are consistent with extant literature. Supreme Court decisions, which increased uncertainty and regulatory risk, produced negative abnormal returns. The initial release of draft implementing rules did not produce statistically significant effects, but a succeeding draft favouring liberalization, produced positive abnormal returns.     

New insights into an old problem – enhancing student learning outcomes in an introductory statistics course

Many students enrolled in first year introductory statistics courses believe learning statistics is a waste of time and fear they will fail. In this study, we explored the impacts on learning outcomes for students in an introductory statistics course by allowing students to arbitrarily choose their own sequence of learning from three key learning activities, namely tutorials, Peer-Assisted Study Sessions and Computer-Managed Learning quizzes. Unlike the old regime where the learning activities followed a strict, rigid sequence, a new regime allowed students to freely choose when, where and how they engaged with the course learning activities. This allowed increased opportunities for students to receive relevant and timely feedback. Using a total of 1187 students enrolled in semester 2 of 2011, 2012 and 2013, data were collected on students’ scores from 7 assessment tasks. Our experimental design ensured as many course features as possible remained constant between the control cohorts (of 2011 and 2012) and the experimental cohort (2013), thereby avoiding potential sample selection problems. The findings showed student learning outcomes in the new regime improved significantly. Interestingly, the effects were found to be greatest in the lower percentile of the score distribution.