This thesis uses a new institutional sociology perspective to examine financial risk management practices adopted by Saudi listed companies and identify the factors that influence these practices. In Islamic shariah law, using conventional derivatives is prohibited and so this thesis aims to determine if there is an institutional logic within the organisational field and a community of practice that results from networks of actors. The study also, examines the effect of different types of coercive, mimetic and normative isomorphic pressures on the adoption of risk management practices by Saudi listed companies. For this purpose, two pieces of empirical work are employed, (i) semi- structured interviews; and (ii) statistical tests. The interviews were held with 22 treasury managers of Saudi listed companies in 2011 to explore their perspectives of financial risk management practices. The second empirical work uses binary logistic regression to test the factors that might affect the adoption of financial risk management practices of 132 listed companies using publicly available data in 2011. Most of the previous studies relating to financial risk management practices have been undertaken in developing countries Therefore, there is a need to expand the scope of existing research by investigating such practices in Islamic countries to test the relevance of existing theory there and to enrich the risk financial management literature. This thesis investigate 12 factors: (the influence of political factors, cultural factors, and the competitive environment in Saudi society as well as nine institutional characteristics, comprising: firm size; profitability; leverage; being an Islamic company; auditor type; industrial sector; ownership structure; number of subsidiaries and exports) to identify to what extent they affect the financial risk management practices in the organisational field. The main findings indicate that Saudi listed companies hedge more interest rate risk than other financial risks, using conventional derivatives contracts which are prohibited in Islam. This finding is surprising in a country such as Saudi Arabia that is regulated and dominated by Shariah law. The political, cultural and competitive environments also affect the financial risk management practices in the organisational field. In addition, firm size in Saudi Arabia is related to interest rate risk and foreign exchange rate risk; also more leveraged companies and companies audited by Big-4 firms hedge interest rate risk. In addition, Islamic companies depend on Islamic derivatives that are available to hedge financial risk. Furthermore, the profitability of companies, industrial sector and their ownership structure has little influence on the risk management practices in Saudi listed companies. Finally, having subsidiaries and exports also affects hedging practices. It seems that actors are involved in similar networks and that considerable boundary-spanning takes place across these networks especially by treasury managers. This results in several different communities of practice with different organisational logics.

The aim of my thesis was to analyze and identify main types of risks and uncertainties, which can be faced by international companies. I also described main ways and methods of avoidance and minimisation of such risky situations. AB Inbev was chosen as an example since I was working in the branch of this company located in Prague, Czech Republic. This explains my concentration mainly on the market for beverages.

This research has led to a novel methodology for assessment and quantification of supply risks in the supply chain. The research has built on advanced Knowledge Discovery techniques and has resulted to a software implementation to be able to do so. The methodology developed and presented here resembles the well-known consumer credit scoring methods as it leads to a similar metric, or score, for assessing a supplier’s reliability and risk of conducting business with that supplier. However, the focus is on a wide range of operational metrics rather than just financial, which credit scoring techniques typically focus on. The core of the methodology comprises the application of Knowledge Discovery techniques to extract the likelihood of possible risks from within a range of available datasets. In combination with cross-impact analysis, those datasets are examined for establish the inter-relationships and mutual connections among several factors that are likely contribute to risks associated with particular suppliers. This approach is called conjugation analysis. The resulting parameters become the inputs into a logistic regression which leads to a risk scoring model the outcome of the process is the standardized risk score which is analogous to the well-known consumer risk scoring model, better known as FICO score. The proposed methodology has been applied to an Air Conditioning manufacturing company. Two models have been developed. The first identifies the supply risks based on the data about purchase orders and selected risk factors. With this model the likelihoods of delivery failures, quality failures and cost failures are obtained. The second model built on the first one but also used the actual data about the performance of supplier to identify risks of conducting business with particular suppliers. Its target was to provide quantitative measures of an individual supplier’s risk level. The supplier risk scoring model is tested on the data acquired from the company for its performance analysis. The supplier risk scoring model achieved 86.2% accuracy, while the area under curve (AUC) was 0.863. The AUC curve is much higher than required model’s validity threshold value of 0.5. It represents developed model’s validity and reliability for future data. The numerical studies conducted with real-life datasets have demonstrated the effectiveness of the proposed methodology and system as well as its future potential for industrial adoption.

ο σκοπός της εργασίας συνίσταται σε μια προσπάθεια ανάδειξης του σημαντικότατου προβλήματος της βιωσιμότητας και της συνέχισης της συνταξιοδοτικής λειτουργίας των ασφαλιστικών ταμείων-οργανισμών σε σχέση με την διαχείριση (επένδυση) των assets τους μέσα από μία πρωτοποριακή θεωρία. Ταυτόχρονα συνδέεται το πρόβλημα αυτό με τις έννοιες της εταιρικής διακυβέρνησης ,εταιρικού ελέγχου, της θεωρίας συμβολαίων και την εφαρμογή τους στα pension funds .Επιχειρείται η παρουσίαση της σχετικά άγνωστης έννοιας της διαχείρισης κινδύνου αρχικά σφαιρικά και έπειτα από οικονομική πλευρά . Το μεγαλύτερο τμήμα της εργασίας αναλώνεται στη παρουσίαση της θεωρίας του καθηγητή R.J.Shiller για ένα νέο είδος αγορών που προτείνεται σαν μία επενδυτική λύση για ατομικούς επενδυτές και για ασφαλιστικά ταμεία . Η διπλωματική αυτή εργασία χωρίζεται σε 3 μέρη: Στο πρώτο μέρος παρουσιάζεται η έννοια , ο σκοπός των ασφαλιστικών ταμείων πως διακρίνονται, η ιστορική τους πορεία και το πρόβλημα που έχει δημιουργηθεί. Γίνεται επιπλέον μία αναφορά στα επίκαιρα ομόλογα. Στο δεύτερο κομμάτι μέσω παραδειγμάτων γίνεται κατανοητή η έννοια αρχικά του κινδύνου και της διαχείρισης κινδύνου στην οικονομία και την κοινωνία Στη τρίτο μέρος εξετάζεται η θεωρία του R.J.Shiller για τις macromarkets. / The aim of this work is recommended to find and show the most important problem of viability and continuation of retirement operation of actuarial funds-organisms concerning their assets management (investment) through a pioneering theory. Simultaneously connected this problem with the significances of corporate governing, corporate control, theory of contracts and their application in pension funds is attempted the presentation of the unknown theory of risk management initially in society and then from economic view. The bigger department of work is spent in the presentation of theory of professor R.J.Shiller about the beginning of a new market that is proposed as an investment solution for individual investors and for actuarial funds. This diplomatic work is separated in 3 parts: In the first part is presented the significance, the aim of actuarial funds that they are distinguished, their historical course and the problem that has been created. Also there is a small report for the bonds generally (2008). In the second piece via examples become comprehensible the significance of initially the risk management and the management of danger in the economy and the society In the third part is examined the theory of R.J.Shiller for macromarkets.

This thesis has examined the 30km long rail corridor through the Lower Buller Gorge, on the Stillwater Ngakawau Line, between SNL96 and 126km, using a landslide risk management approach. The project area is characterised by high annual rainfall (>2,000mm per year), and steep topography (slopes typically ≥20°) adjacent to the rail corridor. The track formation generally follows the natural contour near the base of the hillslope through the Lower Buller Gorge, and consequently involves many curves but relatively limited cut slopes into adjacent rock outcrops. The distance between the base of adjacent hillslopes and rail is frequently <2m horizontally. A variety of basement and Tertiary lithologies are present, including granite, breccias, indurated sandstone/mudstone, and limestone. The primary focus of this thesis has been on upslope-sourced landsliding onto the rail corridor, and on two short lengths (20m and 450m) that currently have a 25km/hour speed restriction imposed at Whitecliffs and Te Kuha respectively. Rainfall-induced and earthquake-generated landslide triggering mechanisms were examined in detail. A landslide inventory has been compiled to determine the characteristics and distribution of identified slope failures over time, and to establish any correlation with topography and geology. Sixty individual landslide events were identified since the line became fully operational in the 1940s, based on desktop reviews, and field inspections for more recent events. To reflect the presence of small magnitude landslide events, a project-specific logarithmic classification of landslides was adopted from <10m³ (very small volume) to ≥10,000m³ (very large volume). An absence of a higher proportion of ‘very small’ to ‘small’ landslide volumes (<100m³) in the inventory reflects incomplete reporting of these comparatively lower magnitude, but higher frequency, events. The establishment of a robust landslide inventory to document future events, in a consistent and readily accessible format, is required for continued monitoring and review of landslide risk management practices in the Lower Buller Gorge. Combining landslide inventory data and physical characteristics of the project area enabled the development of a qualitative landslide zonation map that assigned ‘high’, ‘high-moderate’, ‘moderate’ and ‘low’ landslide susceptibility classes. The principal area of slope instability above the rail corridor is 22.5km in length between SNL103.5 and 126.0km, associated predominantly with basement lithologies (Tuhua Granite; Hawks Crag Breccia; Greenland Group). The most frequently occurring landslides are shallow, typically less than 3m deep, translational failures triggered in regolith or colluvium materials. Rainfall-induced debris slides and flows are dominant, given the high annual rainfall and associated high frequency of high intensity or long duration rainfall events. Very small to medium landslides (<1,000m³) have the potential to impact the rail corridor with an average frequency of around one every two years, causing damage to infrastructure or affecting rail operations. Very large landslides (≥10,000m³) can be expected every 10 to 20 years based on a limited historical record. The narrow rail corridor and absence of sufficient catch areas above or adjacent to the rail causes continual operational challenges due to upslope-sourced landslide debris, and high susceptibility to slope failures, particularly west of SNL103.50km. Development of a rainfall-threshold for proactive inspection of the rail corridor is recommended, including the establishment of a rain gauge network through the Lower Buller Gorge. Earthquake-generated landslides significantly impacted the rail during the magnitude 7.1 Inangahua earthquake in 1968 and to a much lesser extent during the magnitude 6.1 Westport earthquake in 1991. The rail was not fully constructed through the Lower Buller Gorge at the time of the magnitude 7.8 Buller (Murchison) Earthquake in 1929, which generated widespread landsliding in the Buller and Nelson regions. Earthquake-generated landsliding can be expected through the Lower Buller Gorge from earthquakes of magnitude ≥6, and track inspection is recommended in the event of magnitude 5 or greater earthquakes. Detailed geological characterisation and mapping at Whitecliffs and Te Kuha was conducted, including a LiDAR survey at Whitecliffs that enabled visualisation of the ground surface without the interference of vegetation. The limestone outcrop at Whitecliffs comprises 60-70m high near-vertical cliffs with a well-established talus apron at the base, extending to the rail corridor. Three widely spaced open fractures sets are present at the top of Whitecliffs that propagate into the cliff-face. There has been no detectable movement on selected key fracture sets since monitoring commenced in 1993 and there is no confirmed evidence of large-scale cliff collapse during the 1968 Inangahua earthquake. Whitecliffs is not as susceptible to failure as other slopes inspected in the project area due to structural controls, primarily being the dipping of strata back into the cliff-face and widely space joint sets. Establishment of inspection protocols for earthquake events impacting the area, including real-time monitoring of selected fractures at Whitecliffs is recommended. A 2km-length corridor site model produced for Te Kuha demonstrated ‘high’ landslide susceptibility is not confined to slopes above the existing 450m speed restriction zone. Removal of the speed restrictions at Whitecliffs and Te Kuha can be considered, as the increased exposure time is not considered sufficient justification given the extent of other susceptible areas to landsliding affecting the Lower Buller Gorge rail corridor. The principal conclusion from this thesis project is that there is on-going risk to rail operations predominantly from shallow translational landsliding in regolith-colluvium materials. The majority of these will be generated by long-duration or intense rainfall events. Development of threshold-based methods for effective track management is recommended, including the establishment of a rain gauge network through the Lower Buller Gorge, and landslide inventory database. Site-specific engineering measures could be adopted, such as catch benches or avalanche-type shelters, where justified on a cost-benefit basis.

Background and problem More and more companies are now developing from only delivering a single product to now also deliver services. These transformations into servitization bring both risks and benefits to companies making the transition. The benefits of servitization is a well-defined area in the academic literature. A few identified authors describe a gap in the literature around risk management of servitization, with special emphasis on how the role of leaders is important for servitization risk management. The study is based on the problematization of how leaders handle and act when incurring the risk that may arise in the implementation of service logic. Aim The purpose of this study is to investigate how business leaders within finance, strategy, and organizational development manage the risks associated with servitization in manufacturing companies. Method and Theory The theoretical framework is based on the current academic literature on risk management and leadership. The theory is based on two essential areas, risk management strategies and leadership styles. Where it provides a basic understanding of the subject and focuses on six main strategies and three essential leadership styles to manage the risks that may arise with servitization. Our conclusions have been reached by performing a qualitative study. The data collection was conducted through nine semi-structured interviews from seven different manufacturing companies. The data has been analyzed through thematic analysis which forms the basis for the study's conclusions. Findings The findings show that the risks that are identified in the study are categorized into five types, business risk, quality and competence, short-term customer relationship, brand, and culture. The result also shows that the most commonly used leadership style is participatory and relationship-based leadership style. The main risk management strategy was focused on the risks facing the sales team at the company and managing the customer relationship. The conclusion, therefore, justifies that participation- and relationship-oriented leadership is the most prevalent leadership, where all types of risk management strategies are represented. Educational- and integrative risk management strategies are most prevalent in all three leadership styles and are used to manage the greatest risk. / Bakgrund och problemdiskussion Att övergå från att vara ett produktbaserat företag till att även erhålla tjänster har en alltmer framträdande roll i samhället. Fördelarna med tjänstefiering finns representerade i litteraturen och är ett väl omskrivet område. Vissa av litteraturens författare skriver att de finner en saknad vid riskhantering av tjänstefiering, med särskild vikt för hur ledarnas roll är betydandeför tjänstefieringens riskhantering. Studien grundas i problematiseringen kring hur ledarna hanterar och agerar vid de risker som kan att uppstå vid en implementering av tjänstelogik. Syfte Syftet med studien är att undersöka hur företagsledare med uppgifter inom ekonomi, strategi eller organisationsutveckling hanterar risk vid tjänstefiering i tillverkande företag. Metod och teori Det teoretiska ramverket utformas efter en övergripande bild av riskhantering och ledarskap. Teorin utgår ifrån två väsentliga aspekter, riskhanteringsstrategier och ledarskapsstilar. Där en grundläggande förståelse inom ämnet delges, vilken inriktar sig på sex huvudsakliga strategier och tre väsentliga ledarskapsstilar för att hantera riskerna som kan uppstå vid en tjänstefiering. Studien genomförs med ett kvalitativt tillvägagångssätt. Datainsamlingen harutförts genom nio semistrukturerade intervjuer i sju tillverkande företag. Datamaterialet haranalyserats genom tematisk analys vilket vidare ligger till grund för studiens slutsatser. Resultat Studiens resultat visar på att de risker som identifierats kan kategoriseras till fem typer, affärsrisk, kvalité och kompetens, kortsiktig kundrelation, varumärke och kultur. Resultatet påvisar även att den ledarstil som används mest är deltagande- och relationsbaserad ledarstil. Den främsta riskhanteringsstrategin framgick till att vara inriktad på de risker som säljteamet på företaget står inför samt hur kundrelationer hanteras. Slutsatsen motiveras därför till attdeltagande- och relationsorienterat ledarskap är det mest förekommande ledarskapet, där allatyper av riskhanteringsstrategier är representerade. Utbildande- och integreranderiskhanteringsstrategier är mest förekommande i alla tre ledarskapsstilar och används för att hantera de största riskerna.

The following thesis can be read as a socio-historical case study of the emergence of risk discourses within the Scottish Criminal Justice System, particularly in relation to offenders who are defined by their dangerousness. It focuses on the emergence of the Risk Management Authority (RMA) which was set up under recommendation of the MacLean Committee in 2000. The thesis examines the broader social and cultural forces from which the Risk Management Authority emerged by drawing on Hegel’s notion of ‘Ethical Life’ (Sittlichkeit) as a means of framing institutional change. By way of a re-interpretation of Hegel, through the lens of critical theory, it seeks to historicise and make problematic the concepts and assumptions surrounding our understanding of modernity. Through the concepts of reflexivity, legitimacy and indeterminacy it offers a critique of the existing sociology of risk, which places risk at the centre of debates on modernity, contingency and the self-understanding of society. This critique offers a conceptualisation of penal institutions as not just administering punishment, but as instrumental in the constitution of human subjectivity.