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The economic theory of risk and insuranceWillett, Allan Herbert, January 1901 (has links)
Published also as Thesis (Ph. D.)--Columbia University.
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Risk Gene v. Safety Net: An Analysis of the Factors the Drive Individuals to Become EntrepreneursFotso, Milly 01 January 2016 (has links)
The goal of this paper is to outline patterns in biographical background of founders of successful startup ventures, more particularly in the technology sector, that contributed to their success. Additionally, this article aims to disprove the assumption that entrepreneurs have a special tolerance for risk, and rather explores the idea that entrepreneurs have access to resources--financial, social, and intellectual--that come from their family and friends that then give them an edge and a safety net that de-mystifies them from the risk of starting a business. Once we realize that because the majority of the entrepreneurs studied in this thesis had unusually privileged backgrounds, we may then end with a suggestion as to how to level the playing field for those who may not have the same.
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Associated factors vs risk factors in cross-sectional studies.Antay Bedregal, David, Camargo Revello, Evelyn, Alvarado, German F 26 January 2016 (has links)
Cartas al editor
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Predicting Risk Factors of Non-Contact Anterior Cruciate Ligament Injuries during Single-Leg LandingNicholas, Ali January 2015 (has links)
The literature suggests that body kinematics and musculoskeletal differences are major factors contributing to the high disparity in non-contact Anterior Cruciate Ligament (ACL) injury rate between genders. The literature also indicates that the incidence of non-contact ACL injury predominates during single-leg landing sports such as basketball, soccer, and handball. Despite this, there are few studies investigating kinematics or musculoskeletal differences between genders during single-leg landing from increasing vertical heights and horizontal distances. The objectives of this study are threefold: first, conduct a gap study identifying the barriers to predicting mechanisms and risk factors for non-contact ACL injury. Second, propose a new approach that can address some of the challenges encountered in some existing non-contact ACL injury study approaches. Finally, whilst determining whether or not gender differences explain the higher rate of ACL injuries among females, identify and correlate the biomechanical and musculoskeletal variables significantly impacted by gender, vertical landing height, and/or horizontal landing distance and their interactions to various ACL injury risk predictor variables during single-leg landing. Experiments using male and female subjects, inverse dynamics analysis using Visual3D, and musculoskeletal modeling simulation using AnyBody Modeling System were approaches used to explore these objectives. Salient findings from this dissertation includes but are not limited to, non-contact ACL injury that occurs during single-leg landing is mutifaceted entailing many factors that cannot be captured in any one existing ACL injury study approach. Non-contact ACL injury during single-leg landing may not be gender specific. Both vertical height and horizontal distance of landing increase the risk of non-contact ACL injury during single-leg landing. Body kinematics during single-leg landing may not be the sole determinant in attenuating ground reaction forces and consequently risk of ACL injury. The hamstring and gastrocnemius muscles were determined to strain shield the ACL while the quadriceps were found to have no significant effect on risk of ACL injury during single-leg landing. Within the findings and limitations of this study the knowledge garnered from this research may aid in tailoring future studies so as to enable more robust non-contact ACL injury prevention protocols.
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A package of business related risk measures : development and empirical studyKwong, Alfred Chu January 1973 (has links)
Risk taking propensity is defined as the willingness of an individual to take risks. Although previous research has suggested that this construct is multidimensional, the primary purpose of this thesis is to develop a package of measures relevant to one dimension of risk: business risk. The package includes measures adopted and revised from ones used previously and measures constructed for this study.
Thirty-five Masters Students in Business Administration were administered the following package of measures: Choice Dilemma, Extremity Confidence in Judgment, In-Basket, Utility Items, Stock Price Wagers, a Personal Record Questionnaire, and a personality questionnaire concerning Internal External Control and Sensation Seeking.
The results of the study show that some of the intercorrelations among measures are insignificant. Several factor analytical methods were tried but the extracted factors were neither identifiable nor expected. The study examined the relationship between risk taking and some selected variables like Salary, amount of asset, amount of liability, years of working experience, and number of dependents. Choice Dilemma was found to be a function of a greater number of variables, namely average age of the dependents, working years, salary, face value of insurance and liabilities. Extremity confidence in judgment is related to number of working years and salary. The In-Basket Memo score is related to IE Control, average age of dependents, working years and salary.
The thesis has been able to pinpoint areas of weakness in the items themselves and indicate which measures should be subject to revision or elimination. It has also been able to narrow down the definition of business risk taking. In this regard, it has provided insights into what a final package of Business-related risk measures should contain.
The study suggests more interesting areas to look at and serves as a pivot for future research of this kind. / Business, Sauder School of / Graduate
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Empirical tests of a market trading rule based on the notion of market disequilibriumYaworski, Laurie Gerald January 1973 (has links)
The notion of beta in the stock market is a concept of risk that has had wide acceptance in the academic and investment communities as a coefficient of non-diversifiable risk. The definition of beta and its use as a measure of risk depends on the empirical validity of the market model. The market model is a linear equation of the form y = a + bx + c where b (the slope of the line) is the beta coefficient: It relates the proportion by which a stock's price will change to a change in the market index. The measurement of the beta value has been tested and proven to be stationary over time. Therefore the estimated values in one period are biased estimates of the future values. Professional managers can select a level of uncertainty at which to operate and have tended to remain at that level over the years. A model such as this for selecting efficient portfolios is a very relative component in the development of improved normative procedure for investment management.
Among the possible uses of an effective measure of risk are:
1) the assessment of risk in specific securities as well as portfolios;
2) measurement of the current risk in any group of stocks represented by the various market averages;
3) comparison of the risk of individual securities with that of other securities and the market as a whole;
4) means of screening in search for undervalued and overvalued stocks;
5) aid to timing in buying and selling;
6) a basis for selecting and adjusting portfolio risk to fit an investor's requirements;
7) means of adjustment to take advantage of market trends and a logical basis for investment decision making.
In accordance with the above theory of market equilibrium, stock prices would adjust instantaneously in some proportion to the changes in the market index. Given the assumptions of the theory, the length of the period over which beta is calculated should be irrelevant to the measure. The implication is that beta may be useful in short run investment strategy.
It is felt that the adjustment process is not instantaneous but incorporates some stocks that may be overpriced and others that may be underpriced. Furthermore stocks may lead or lag the market index into a bullish or bearish market. Trading rules based on the market sensitivity of stocks in the period June 1959 to June 1969 were used to test the profitability of short run investment strategy in rising and falling market trends. These trading rules developed in the ex post were applied in the ex ante from June 1969 to June 1972 to determine if there were any stable relationships.
The empirical evidence does not provide very strong conclusions. The results indicate that the adjustment of a stock price relative to the market is not instantaneous. There are stocks that lead and stocks that lag the market into either an "up" or "down" swing. However these relationships are not stable from one period to the next. Where there is stability, the timing is most uncertain. This indicates that the markets are not truly efficient and thus it becomes a test of the major assumption of the market model.
Despite this lack of stability the results of the trading rules indicate that beta may be used effectively on a continuing basis in a declining market. The rules which are based on a long term beta help us to identify those stocks which vary widely from their expected prices allowing us to activate trading which is profitable for the portfolio.
The findings indicate that beta may be used in this sense as a "loss" minimizing technique. However the obvious limitation is that the trading rules cannot be applied symmetrically to both markets in order to bring the best results. Furthermore there is the major difficulty of predicting the market. Extreme confidence in the filter rules is required. Another problem is that continuous trading alters the portfolio beta at which the manager has selected to operate.
The most useful information obtained from the tests is that through further study and the development of better trading rules the technique may be quite useful. / Business, Sauder School of / Graduate
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On the relationship between audit risk and security market measures of riskStein, Michael T. January 1988 (has links)
This research investigates the relationship between security market measures of risk and audit risk. The auditor's decision making environment is extended to include the actions of the client firm's shareholders. Using the Nash equilibrium concept it is shown that, in equilibrium, the expected costs of auditing increase with the probability of a "bad" outcome in the securities markets. This result obtains in both strict liability and negligence regimes. The result is driven, in part by the insurance role of auditing. In empirical tests an association is established between security risk and audit fees. These tests suggest that security market measures of risk may provide information useful to the auditor in his decision making. / Business, Sauder School of / Graduate
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Economic analysis of risk to goods in transitAnderson, Harold Andreas January 1988 (has links)
The rules governing risk to goods in transit contained in the British Columbia Sale of Goods Act are based on a statute enacted in 1893. Although the method of transport as well as the types of goods being transported have changed significantly since that time, the rules have not been modified. The hypothesis explored in this thesis is whether rules governing risk to goods in transit drafted in the late nineteenth century represent efficient rules in the late twentieth century.
The thesis applied economic analysis to the rules to test their efficiency. The rules were tested in the ocean transit environment. It was concluded that the rules were not efficient and required substantial modification. An efficient set of rules governing risk to goods in transit was advanced. / Law, Peter A. Allard School of / Graduate
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A case study in industrial risk managementRaubenheimer, Pieter Jacobus 06 December 2011 (has links)
M.Ing. / This dissertation focuses on an industrial risk management case study, which aims to illustrate how the risks involved in a new project have to be identified, approached and managed. The aim of this dissertation is therefore to act as an example of modem risk management theory and implementation in an industrial engineering environment. The first part of the dissertation focuses on the theoretical background of risk management. It starts by giving the history of risk after which a definition of risk is concluded from a variety of text books. The history of risk shows how risk developed through the ages and evolved into a way of making sure that the right strategic decisions are taken. The following chapters focus on the frameworks that have been developed by different international parties to structure the risk management process. The financial environment is also highlighted as an industry in which risk has been developed to help companies tremendously in making investment decisions. Although there are fundamental differences between risk management in the industrial and financial environment, there are however a few similarities. One aspect that can be taken from the financial environment and be implemented in the industrial environment is the fact that risk management has to be done according to a fixed structure or framework. A short literature case study shows how businesses made crucial mistakes in the past, and how implementing modem risk management techniques can rectify these mistakes. A big part of risk management is not only the qualitative analysis, but also in the quantitative analysis, which was ignored in the literature case study. The theory behind these quantitative techniques is highlighted as the last theoretical background before the second part of the dissertation focuses on the risk involved in the expansion project of an oil refinery. After the theoretical background of the expansion project is given as an introduction to the case study, the quantitative analysis for the expansion project is done. Through A Case Study in Industrial Risk Management 2 the quantitative analysis, the high risks involved in the project are highlighted more clearly and numbers or figures will indicate how realistic the objectives of the project are. By monitoring and controlling these critical project variables through the project life cycle, the chances of achieving the project results are greatly increased.
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Differences in risk assessment ability between entrepreneurs and non-entrepreneursErnst, Pieter Benjamin 16 February 2013 (has links)
The aim of this exploratory study was to determine whether there was any significance to the proposition that the ability of individuals to assess entrepreneurial risks differed between entrepreneurs and non-entrepreneurs, with a particular focus on the risk identification and risk prioritisation abilities.A survey strategy was followed which made use of a case study exercise to ascertain what risks the sample groups of entrepreneurs and non-entrepreneurs identified. Demographics and other risk variables, such as risk propensity and risk perception, were also excluded to provide context and eliminate certain alternative explanations.No significant differences were found between entrepreneurs and non-entrepreneurs with respect the risks that they identified in the case study exercise. Entrepreneurs perceived the case study as more favourable and had a higher risk propensity. Entrepreneurs also found the case study exercise more difficult than non-entrepreneurs. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted
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