International Journal of Modern Risk Management最新文献

{"title":"The Role of Machine Learning in Enhancing Risk Management Strategies in Financial Institutions","authors":"Mary Mwangi","doi":"10.47604/ijmrm.2643","DOIUrl":"https://doi.org/10.47604/ijmrm.2643","url":null,"abstract":"Purpose: The aim of the study was to examine the role of machine learning in enhancing risk management strategies in financial institutions. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The study revealed that integration of machine learning into risk management strategies within financial institutions has demonstrated significant potential for enhancing decision-making processes and mitigating various risks. The study have consistently shown that machine learning algorithms outperform traditional statistical methods in areas such as credit risk assessment, fraud detection, market risk management, and loan portfolio optimization. These advancements have led to improved accuracy, efficiency, and timeliness in risk assessment, enabling financial institutions to make more informed decisions while reducing losses and enhancing overall performance. \u0000Unique Contribution to Theory, Practice and Policy: Modern Portfolio Theory (MPT), Efficient Market Hypothesis (EMH) & Agency Theory may be used to anchor future studies on role of machine learning in enhancing risk management strategies in financial institutions. Invest in building robust data infrastructure and governance frameworks to support the implementation of machine learning models in risk management practices. High-quality data is crucial for training accurate and reliable machine learning algorithms. Establish regulatory guidelines and standards for the responsible use of machine learning in risk management within the financial industry. These guidelines should address issues such as model transparency, fairness, and accountability to ensure ethical and responsible practices.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"65 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141268242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Influence of Artificial Intelligence on Credit Risk Assessment in Banking Sector","authors":"Michael Brown","doi":"10.47604/ijmrm.2641","DOIUrl":"https://doi.org/10.47604/ijmrm.2641","url":null,"abstract":"Purpose: The aim of the study was to examine the influence of artificial intelligence on credit risk assessment in banking sector. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The study found that AI-driven models demonstrate superior performance in identifying risky borrowers and capturing complex credit risk patterns compared to traditional methods. Additionally, the integration of explainable AI (XAI) techniques has enhanced transparency and interpretability in credit risk assessment processes, facilitating better understanding among stakeholders and improving decision-making transparency. \u0000Unique Contribution to Theory, Practice and Policy: Decision theory & technology acceptance model (TAM) may be used to anchor future studies on influence of artificial intelligence on credit risk assessment in banking sector. Continuously invest in research and development to advance the theoretical understanding of AI-driven credit risk assessment models. This includes exploring the integration of machine learning with behavioral economics theories to better predict borrower behavior and default probabilities. Encourage banks to adopt a hybrid approach that combines the strengths of AI-driven models with human expertise. Develop comprehensive regulatory guidelines and standards to govern the use of AI in credit risk assessment and ensure ethical and responsible practices. This includes establishing transparent model validation and governance frameworks to mitigate the risks of algorithmic bias, data privacy violations, and discriminatory lending practices. Regulatory authorities should also promote industry-wide collaboration and knowledge sharing to foster innovation while safeguarding consumer interests and financial stability.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"69 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141268208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Operational Risks Faced by Financial Institutions in the Digital Age: A Case of Nigeria","authors":"Michael Ikenna","doi":"10.47604/ijmrm.2642","DOIUrl":"https://doi.org/10.47604/ijmrm.2642","url":null,"abstract":"Purpose: The aim of the study was to examine operational risks faced by financial institutions in the digital age: a case of Nigeria. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The study found that financial institutions in Nigeria are confronted with a myriad of operational risks in the digital age, stemming from the rapid adoption of technology and the evolving cyber threat landscape. The shift towards digital banking and fintech innovations has introduced new vulnerabilities, including cyberattacks, data breaches, and fraudulent activities, posing significant challenges to the security and integrity of financial systems in Nigeria. Operational risks associated with technological disruptions, such as system failures, IT outages, and disruptions to digital payment platforms, can undermine the reliability and efficiency of financial services, leading to customer dissatisfaction and financial losses. The proliferation of mobile banking and digital payment channels has heightened concerns about financial inclusion, data privacy, and regulatory compliance, necessitating robust risk management frameworks and regulatory oversight to safeguard the stability and resilience of Nigeria's financial sector. \u0000Unique Contribution to Theory, Practice and Policy: Technology Acceptance Model (TAM), Agency Theory & Resource Dependence Theory may be used to anchor future studies on operational risks faced by financial institutions in the digital age: a case of Nigeria. Financial institutions should prioritize the implementation of robust cybersecurity measures, including regular security audits, penetration testing, and employee training programs. By enhancing cybersecurity awareness and preparedness, institutions can mitigate the risk of cyberattacks and data breaches. Regulatory authorities play a crucial role in shaping the regulatory landscape to address operational risks in the Digital Age. Policymakers should collaborate with industry stakeholders to develop robust regulatory frameworks that promote innovation while safeguarding financial stability and consumer protection.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"2 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141267323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Environmental Risks Associated With Urban Development Projects in Kenya","authors":"Janet Mburu","doi":"10.47604/ijmrm.2640","DOIUrl":"https://doi.org/10.47604/ijmrm.2640","url":null,"abstract":"Purpose: The aim of the study was to examine environmental risks associated with urban development projects in Kenya \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The study revealed that urban development projects in Kenya present significant environmental risks that require careful consideration and proactive mitigation measures. The rapid urbanization and infrastructure expansion in Kenya's cities have been associated with various environmental challenges, including air and water pollution, habitat loss, soil degradation, urban heat island effects, and adverse impacts on human health. These environmental risks stem from factors such as increased vehicular emissions, industrial activities, improper waste management practices, deforestation, and inadequate urban planning and infrastructure. The concentration of population and economic activities in urban centers exacerbates these environmental pressures, further highlighting the urgent need for sustainable urban development strategies in Kenya. \u0000Unique Contribution to Theory, Practice and Policy: urban political ecology theory, environmental justice theory & sustainable development theory may be used to anchor future studies on environmental risks associated with urban development projects in Kenya. Prioritize the implementation of green infrastructure initiatives, such as green roofs, urban parks, and sustainable drainage systems, to mitigate environmental risks associated with urban development. Integrate nature-based solutions into urban planning and design processes to enhance ecosystem services, improve air and water quality, and reduce urban heat island effects. Advocate for legislative reforms and policy interventions that prioritize environmental sustainability in urban development planning and regulation. Implement stringent environmental impact assessment (EIA) processes for all urban development projects to ensure compliance with environmental standards and regulations.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"19 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141266712","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Influence of Political Risk on International Business Operations in Germany","authors":"Conrad Bruno","doi":"10.47604/ijmrm.2638","DOIUrl":"https://doi.org/10.47604/ijmrm.2638","url":null,"abstract":"Purpose: The aim of the study was to investigate the influence of political risk on international business operations in Germany. \u0000Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. \u0000Findings: The study revealed that political uncertainties, such as shifts in government policies, geopolitical tensions, and regulatory changes, can significantly impact the business environment, investment decisions, and market opportunities in Germany. While Germany is known for its stable political system and business-friendly environment, recent developments, such as Brexit, global trade tensions, and the rise of nationalist movements, have introduced new layers of complexity and uncertainty for international businesses operating in the country. These political risks can manifest in various forms, including disruptions to supply chains, fluctuations in currency markets, and heightened regulatory scrutiny, necessitating proactive risk management strategies and adaptive business practices. \u0000Unique Contribution to Theory, Practice and Policy: Institutional Theory, Resource Dependence Theory (RDT) & Transaction Cost Economics (TCE) theory may be used to anchor future studies on influence of political risk on international business operations. Implement regular political risk assessments using this comprehensive framework to identify potential threats and opportunities in different regions. Businesses should use advanced analytics and scenario planning to forecast potential political changes and their impacts. Businesses should diversify their investments across multiple countries and regions with varying political risk profiles. Policymakers should establish standardized guidelines for political risk assessment to ensure consistent and accurate evaluation across industries and regions. This will help firms better prepare for and mitigate political risks.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"35 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141270447","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of Socioeconomic Factors on Life Expectancy in Pakistan","authors":"Ayub Khan","doi":"10.47604/ijmrm.2221","DOIUrl":"https://doi.org/10.47604/ijmrm.2221","url":null,"abstract":"Purpose: The aim of the study was to examine the impact of socioeconomic factors on life expectancy in Pakistan \u0000Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library \u0000Findings: Socioeconomic factors have a significant impact on life expectancy in Pakistan. Higher education, greater access to healthcare, and higher income levels are associated with longer life expectancies. Gender disparities exist, with women generally having longer life expectancies than men due to differences in healthcare access and lifestyles. Urban areas tend to have higher life expectancies compared to rural areas due to better healthcare facilities and resources. These findings highlight the need for targeted policies and interventions to address disparities and improve overall population health in Pakistan. \u0000Unique Contribution to Theory, Practice and Policy: The socioeconomic development theory, the well-being theory & the social ecology theory may be used to anchor future studies on the examining impact of socioeconomic factors on life expectancy in Pakistan. Invest in the expansion and improvement of primary healthcare services, especially in rural and underserved areas.  Develop policies that specifically aim to reduce health inequalities, such as initiatives to improve healthcare access in remote areas and interventions to address disparities in nutrition and sanitation.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"10 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138605703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Credit Default in Banking in Nigeria","authors":"Achebe Chiamaka","doi":"10.47604/ijmrm.2220","DOIUrl":"https://doi.org/10.47604/ijmrm.2220","url":null,"abstract":"Purpose: The aim of the study was to examine the determinants of credit default in banking in Nigeria. \u0000Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library \u0000Findings: The determinants of credit default in Nigerian banking encompass a range of factors, including economic stability, regulatory oversight, risk management practices, loan portfolio quality, and macroeconomic conditions. Addressing these factors is crucial for banks to effectively manage credit risk and reduce the likelihood of credit defaults. \u0000Unique Contribution to Theory, Practice and Policy: Agency Theory, Pecking Order Theory and Information Asymmetry Theory may be used to anchor future studies on the examining determinants of credit default in banking in Nigeria. banks should initiate financial literacy programs for borrowers to improve their understanding of financial products and responsibilities. Regulators should encourage the adoption of advanced credit risk assessment models and provide guidelines on best practices in risk management.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"119 33","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138607459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Market Risk Analysis in Investment Portfolios in Uganda","authors":"James Mukasa","doi":"10.47604/ijmrm.2218","DOIUrl":"https://doi.org/10.47604/ijmrm.2218","url":null,"abstract":"Purpose: The aim of the study was to examine the market risk analysis in investment portfolios in Uganda. \u0000Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library \u0000Findings: The study on Market Risk Analysis in Investment Portfolios in Uganda examines factors affecting investors' performance and profitability in the country. It finds significant untapped potential for foreign direct investment (FDI) in Uganda, particularly in the services sector, but also identifies risks like volatile weather, political instability, weak governance, and high inflation. To attract more investors, the study recommends improving regulations, diversifying exports, enhancing regional integration, and promoting tourism. These steps could help Uganda harness its economic potential. \u0000Unique Contribution to Theory, Practice and Policy: Modern Portfolio Theory (MPT), Capital Asset Pricing Model (CAPM) & Behavioral Finance Theory may be used to anchor future studies on the examining market risk analysis in investment portfolios in Uganda. Encourage investors to diversify their portfolios across various asset classes and geographic regions to mitigate market risk. Collaborate with regulatory authorities to establish and enforce robust risk management and reporting standards for financial institutions and investment firms operating in Uganda.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"32 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138606583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Predictive Modeling of Insurance Claims in Rwanda","authors":"Blessing Mugisha","doi":"10.47604/ijmrm.2219","DOIUrl":"https://doi.org/10.47604/ijmrm.2219","url":null,"abstract":"Purpose: The aim of the study was to examine the predictive modeling of insurance claims in Rwanda. \u0000Methodology: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library \u0000Findings: Predictive modeling of insurance claims in Rwanda found key predictors such as age, gender, and policy type. Regional variations in claim frequency and severity were evident, emphasizing the importance of localized risk assessment. Historical claims data was instrumental in building effective predictive models for insurers. Data-driven approaches were identified as valuable tools for improving underwriting and pricing strategies in Rwanda's insurance market. Continuous data collection and model refinement were underscored for enhanced accuracy and adaptability in the evolving Rwandan insurance landscape. \u0000Unique Contribution to Theory, Practice and Policy: Actuarial Science Theory, Behavioral Economics Theory & Economic Development Theory may be used to anchor future studies on the examining the predictive modeling of insurance claims in Rwanda. Predictive modeling can help insurers better understand their customers' needs and preferences. Policymakers can establish guidelines and regulations to ensure the responsible use of personal data in the insurance industry.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"125 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138606840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Risk Management Strategies for Healthcare Organizations: A Comparative Analysis of Patient Safety Measures in Kenya","authors":"Peter Kimani","doi":"10.47604/ijmrm.2142","DOIUrl":"https://doi.org/10.47604/ijmrm.2142","url":null,"abstract":"Purpose: The study sought to investigate the Risk Management Strategies for Healthcare Organizations: A Comparative Analysis of Patient Safety Measures in Kenya
 Materials and Methods: The study adopted a desktop methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library
 Results: The results revealed that risk management strategies play a crucial role in improving patient safety within healthcare organizations. By comparing different strategies, the research may highlight which ones are particularly effective in reducing errors and enhancing overall safety. The study also concludes that leadership styles and organizational culture have a significant impact on the success of risk management strategies. Healthcare organizations with supportive leadership and a culture of safety tend to perform better in patient safety measures.
 Unique contribution to theory, practice and policy: The study recommends that there should be a culture of safety that encourages reporting of errors and near misses, learning from mistakes, and implementing solutions to prevent recurrence. A culture of safety can foster trust, transparency, and accountability among healthcare staff and patients. Conduct regular risk assessments to identify potential hazards, vulnerabilities, and threats to patient safety and organizational performance. Risk assessments can help prioritize areas for improvement, allocate resources, and monitor progress.","PeriodicalId":492432,"journal":{"name":"International Journal of Modern Risk Management","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135766267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}