Global demand will outpace cyber risk insurability

2016 ◽  
Keyword(s):  
Cyber Attacks ◽  
Content Type ◽  
Management Procedures ◽  
Global Demand ◽  
Definition Of ◽  
A Minor ◽  
Risk Insurance ◽  
Cyber Risk ◽  
The Impact ◽  
The Internet Of Things

Subject Cyber risk insurance outlook. Significance The impact of a cybersecurity failure on corporate or public institutions can range from a minor business interruption to reputational damage and a catastrophic organisational failure. The rapid growth in complex systems built on IT infrastructures and the Internet of Things (IoT) is making cybersecurity a priority risk that must be managed across the organisation from the boardroom down. Impacts Improved definition of the issues around cybersecurity will lead to greater engagement in risk transfer mechanisms such as insurance. Increased awareness and training on cybersecurity risks will be extended across organisational silos. Spending on cybersecurity in critical sectors such as energy, health, transport and finance will rise significantly. This will also extend to retail, hospitality, communications and media as well as government and public-sector organisations. Shortfalls in human competence and management procedures within organisations increase the risk of cyber attacks.

scholarly journals BIM-enabled facilities management (FM): a scrutiny of risks resulting from cyber attacks

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nikdokht Ghadiminia ◽  
Mohammad Mayouf ◽  
Sharon Cox ◽  
Jan Krasniewicz
Keyword(s):  
Cyber Attacks ◽  
Future Research ◽  
Facilities Management ◽  
Cyber Attack ◽  
Risk Matrix ◽  
Content Type ◽  
Golden Thread ◽  
Building Information ◽  
Cyber Risk ◽  
The Impact

Purpose Building information modelling (BIM) creates a golden thread of information of the facility, which proves useful to those with the malicious intent of breaching the security of the facility. A cyber-attack incurs adverse implications for the facility and its managing organisation. Hence, this paper aims to unravel the impact of a cybersecurity breach, by developing a BIM-facilities management (FM) cybersecurity-risk-matrix to portray what a cybersecurity attack means for various working areas of FM. Design/methodology/approach This study commenced with exploring cybersecurity within various stages of a BIM project. This showcased a heightened risk of cybersecurity at the post-occupancy phase. Hence, thematic analysis of two main domains of BIM-FM and cybersecurity in the built environment led to the development of a matrix that illustrated the impact of a cybersecurity attack on a BIM-FM organisation. Findings Findings show that the existing approaches to the management of cybersecurity in BIM-FM are technology-dependent, resulting in an over-reliance on technology and a lack of cybersecurity awareness of aspects related to people and processes. This study sheds light on the criticality of cyber-risk at the post-occupancy phase, highlighting the FM areas which will be compromised as a result of a cyber-attack. Originality/value This study seeks to shift focus to the people and process aspects of cybersecurity in BIM-FM. Through discussing the interconnections between the physical and digital assets of a built facility, this study develops a cyber-risk matrix, which acts as a foundation for empirical investigations of the matter in future research.

Cyber attacks on hospitality sector: stock market reaction

2020 ◽  
Vol 11 (2) ◽  
pp. 277-290
Author(s):  
Maria Cristina Arcuri ◽  
Lorenzo Gai ◽  
Federica Ielasi ◽  
Elisabetta Ventisette
Keyword(s):  
Sustainable Development ◽  
Information And Communication Technologies ◽  
Economic Value ◽  
Listed Companies ◽  
Cyber Attacks ◽  
Sustainable Growth ◽  
Content Type ◽  
Hospitality Sector ◽  
Cyber Risk ◽  
The Impact

Purpose The paper aims to analyze the impact of cyber attacks on stock returns of companies operating in the hospitality sector. The fast development of information and communication technologies has been posited as both an opportunity and a challenge to the United Nations Global Sustainable Development Goals. Digital technologies are significant tools for sustainable development, but if they are not addressed appropriately, they can potentially hinder the progress toward sustainability. Among negative impacts, it is necessary to consider cyber risk, a major concern today, in particular for industries which work with sensitive data, such as tourism businesses. Hospitality businesses have to adequately manage cyber insecurity and digital privacy issues, to prevent losses and contribute to socioeconomic sustainable growth. Design/methodology/approach Using event-study methodology, the paper provides empirical evidence on the effect of announcements of 170 information security breaches on the market value of firms operating in the hospitality sector in the past five years. Findings The study focuses on identifying potential threats of cyber attacks for the economic value of listed companies. The authors find that negative market returns occur following announcements of cyber attacks suffered by hospitality companies. Adequate investments in technology for cyber security and staff training are relevant in the hospitality sector to reduce cyber risk. Originality/value The paper contributes to identifying potential threats of cyber attacks for the economic value of listed companies operating in the hospitality sector. The analysis is carried out by collecting an original sample of global cyber attacks from newspaper announcements sourced from the LexisNexis database.

Shareholder risk-taking incentives in the presence of contingent capital

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahmoud Fatouh ◽  
Ayowande A. McCunn
Keyword(s):  
Risk Taking ◽  
Banking System ◽  
Capital Requirements ◽  
Content Type ◽  
Basic Model ◽  
Conversion Rates ◽  
A Minor ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to present a model of shareholders’ willingness to exert effort to reduce the likelihood of bank distress and the implications of the presence of contingent convertible (CoCo) bonds in the liabilities structure of a bank. Design/methodology/approach This study presents a basic model about the moral hazard surrounding shareholders willingness to exert effort that increases the likelihood of a bank’s success. This study uses a one-shot game and so do not capture the effects of repeated interactions. Findings Consistent with the existing literature, this study shows that the direction of the wealth transfer at the conversion of CoCo bonds determines their impact on shareholder risk-taking incentives. This study also finds that “anytime” CoCos (CoCo bonds trigger-able anytime at the discretion of managers) have a minor advantage over regular CoCo bonds, and that quality of capital requirements can reduce the risk-taking incentives of shareholders. Practical implications This study argues that shareholders can also use manager-specific CoCo bonds to reduce the riskiness of the bank activities. The issuance of such bonds can increase the resilience of individual banks and the whole banking system. Regulators can use restrictions on conversion rates and/or requirements on the quality of capital to address the impact of CoCo bonds issuance on risk-taking incentives. Originality/value To model the risk-taking incentives, authors generally modify the asset processes to introduce components that reflect asymmetric information between CoCo holders and shareholders and/or managers. This paper follows a simpler method similar to that of Holmström and Tirole (1998).

An indexing system for the relevance of academic production and research from digital repositories and metadata

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jared David Tadeo Guerrero-Sosa ◽  
Víctor Hugo Menéndez-Domínguez ◽  
María Enriqueta Castellanos-Bolaños
Keyword(s):  
Open Access ◽  
High Impact ◽  
Practice Research ◽  
Research Groups ◽  
Content Type ◽  
University Campuses ◽  
Easy Integration ◽  
Definition Of ◽  
The Impact ◽  
The Prestige

Purpose This paper aims to propose a set of quantitative statistical indicators for measuring the scientific relevance of research groups and researchers, based on high-impact open-access digital production repositories. Design/methodology/approach An action research (AR) methodology is proposed in which research is associated with the practice; research informs practice and practice is responsible for informing research in a cooperative way. AR is divided into five phases, beginning with the definition of the problematic scenario and an analysis of the state of the art and ending with conducting tests and publishing the results. Findings The proposed indicators were used to characterise group and individual output in a major public university in south-eastern Mexico. University campuses hosting a large number of high-impact research groups. These indicators were very useful in generating information that confirmed specific assumptions about the scientific production of the university. Research limitations/implications The data used here were retrieved from Scopus and open access national repository of Mexico. It would be possible to use other data sources to calculate these indicators. Practical implications The system used to implement the proposed indicators is independent of any particular technological tool and is based on standards for metadata description and exchange, thus facilitating the easy integration of new elements for evaluation. Social implications Many organisations evaluate researchers according to specific criteria, one of which is the prestige of journals. Although the guidelines differ between evaluation bodies, relevance is measured based on elements that can be adapted and where some have greater weight than others, including the prestige of the journal, the degree of collaboration with other researchers and individual production, etc. The proposed indicators can be used by various entities to evaluate researchers and research groups. Each country has its own organisations that are responsible for evaluation, using various criteria based on the impact of the publications. Originality/value The proposed indicators assess based on the importance of the types of publications and the degree of collaborations. However, they can be adapted to other similar scenarios.

Internal audits in the digital era: opportunities risks and challenges

2020 ◽  
Vol 15 (2) ◽  
pp. 205-217
Author(s):  
Petros Lois ◽  
George Drogalas ◽  
Alkiviadis Karagiorgos ◽  
Kostantinos Tsikalakis
Keyword(s):  
Virtual Teams ◽  
Internal Audit ◽  
Cyber Attacks ◽  
Continuous Auditing ◽  
Content Type ◽  
Audit Firm ◽  
Digital Era ◽  
Specific Implementation ◽  
The Impact ◽  
And Training

PurposeThe aim of this study is to examine continuous auditing in the digital age from the perspective of audit firm employees. It also investigates contemporary factors affecting continuous auditing, as well as the techniques that could be utilised for its implementation.Design/methodology/approachInternal audit departments of private companies were contacted via email and given a questionnaire developed based on the extant literature. The sample consisted of 105 individuals employed in the largest audit institutions in Greece. Data were analysed using multiple regression.FindingsAs expected, technological advances are indispensable for the establishment of an effective digital auditing system. The impact of data protection measures against cyber-attacks as well as employees' skills and training were found to be significant. Particular attention should be given to the preparation and building of virtual auditing teams.Research limitations/implicationsThe fact that the digital era is still nascent with its final outcomes not yet visible makes it difficult to produce accurate predictions and draw conclusions. Further, there is a need to survey salient stakeholders in other country contexts beyond Greece pursuant of producing generalisable results.Practical implicationsThe actions taken by companies to ensure cyber security and the formation of virtual teams were found to be highly significant for the implementation of a real-time auditing process. Traditionally, factors such as cost and time play an important role in optimising internal continuous auditing. Technological advancements combined with careful, strategic and case-specific implementation have the potential to enhance the efficacy of older methods.Social implicationsThe positive propensity of staff to adopt technology and modern techniques illustrates how implementation difficulties can be overcome through the redefinition and scheduling of an organisation's objectives and training of its personnel.Originality/valueAudit firm employees highlighted the protection of personal data, the avoidance of cyber-attacks and training as major continuous internal auditing goals. The results indicate acceptance towards technology and modern techniques, provided companies ensure adequate preparation and staff training conditions.

scholarly journals Investigating “circular business models” in the manufacturing and service sectors

2019 ◽  
Vol 30 (3) ◽  
pp. 590-606 ◽  
Author(s):  
Arvind Upadhyay ◽  
Shaheda Akter ◽  
Lindsay Adams ◽  
Vikas Kumar ◽  
Nikhil Varma
Keyword(s):  
Literature Review ◽  
Systematic Literature Review ◽  
Service Sector ◽  
Business Models ◽  
Research Study ◽  
Real Life ◽  
Content Type ◽  
Service Sectors ◽  
Definition Of ◽  
The Impact

PurposeThe purpose of this paper is to investigate the role of the different circular business models (CBMs) in the manufacturing and service sector and apply this in the context of the food industry (FI), through a systematic literature review of related published journals and articles. The research study is designed to illustrate the impact of CBMs in the manufacturing and service sectors through a combination of real-life examples and direct references to existing literature.Design/methodology/approachThe underlying research study follows a systematic literature review approach where the relevant CBMs are explored in the context of the manufacturing and service sector (FI.) The journals most cited in the context of CBMs and their implication in the manufacturing and service sector were chosen for this study. There was no fixed timeframe applied to complete the research. A total of 54 articles were selected which referenced: discussion in the context of the concept of CBMs; different types of CBM; definition of the manufacturing sector; definition of the service sector (FI); application of different CBMs in these two sectors; and included a comparison of the application of CBMs. In total, 40 of the 54 articles were shortlisted for best relevance and used in the research study.FindingsThe underlying research study was limited to 40 articles and the data contained within them. The article search was limited to the keywords of the CBM; the implication of CBM; the CBM in manufacturing (textiles); circular business in service (FI); and comparison and application of the CBM.Practical implicationsThe final analysis demonstrates that circular business promotes sustainability by allowing companies to generate maximum return from given resources and reach zero waste targets. Greater customer satisfaction is also achieved through service innovation that cuts down negative impact on the environment. These findings are relevant and applicable to the FI.Originality/valueA review of existing literature showed that whilst there is significant research on the implications of the CBM in general, there has been little focus on the use of different CBMs specifically in the manufacturing and service industry (FI). This research study is designed to tease out the specific benefits of CBMs in this context, highlighting the contribution they can make to efficiency in both the manufacturing and service sectors (FI) through useful comparison.

Defining the undefinable: an analysis of definitions of community archives

2019 ◽  
Vol 68 (8/9) ◽  
pp. 617-634
Author(s):  
Sarah Welland ◽  
Amanda Cossham
Keyword(s):  
Design Methodology ◽  
Theory And Practice ◽  
Archival Theory ◽  
Content Type ◽  
Community Archives ◽  
Area Of Interest ◽  
Key Issues ◽  
Definition Of ◽  
Community Archive ◽  
The Impact

Purpose This paper aims to explore definitions and notions of what a community archive is, and the tensions between different understandings of community archives. Design/methodology/approach The paper is a critical analysis of community archives definitions and understanding from researchers and practitioners across the wider heritage information sector. Findings Community archives are a growing area of interest for researchers because of the archives’ intrinsic link to the community and their provision of the evidence of it. While discussion often focuses on a paradigm of transformative purpose, existing definitions around community archives continue to be tenuous, reflecting different real or perceived types and practices and the perspective of the author and the sector they work within. Variations in definition can also occur because of differences in perspective around theory and practice, with many practitioner-based definitions intrinsically bound with the community they represent. This can result in community archives being defined as “alternative” based on mainstream practice or “political” based on theoretical purview, or “meeting the needs of community” by the community archivists themselves. Research limitations/implications The paper is conceptual and does not attempt to provide one definition that covers the perceived extent of community archives. It is part of work in progress on the nature of community archives and the impact such discourse may have on archival theory and practice. Originality/value This paper provides an overview of some of the key issues and themes impacting a definition of community archives, and in doing so works towards a broader understanding the nature of community archives. In most cases, the concept of “community” seems to provide a common definitive element and practitioner definitions focus on addressing the needs of self-defined community to a greater or lesser extent.

The role of the predictive gamification to increase the sales performance: a novel business approach

2019 ◽  
Vol 35 (5) ◽  
pp. 817-833 ◽  
Author(s):  
Elenise Martins Rocha ◽  
Giancarlo Medeiros Pereira ◽  
Diego Augusto de Jesus Pacheco
Keyword(s):  
New Products ◽  
Sales Force ◽  
Product Knowledge ◽  
Content Type ◽  
Sales Training ◽  
Main Research ◽  
Sales Professionals ◽  
Business Approach ◽  
Definition Of ◽  
The Impact

Purpose This paper aims to examine the impact of predictive gamification, through a sales simulator game, as a strategy to minimize sales problems in organizations. Design/methodology/approach This empirical study was executed in a large global company that produces and markets footwear for B2B and B2C markets. The company operates in more than 18 countries and adopts the gamification to train 7,600 sellers and 10,052 professionals directly linked to the sales area. The methodology adopted followed a qualitative and exploratory approach based on an in-depth case study analysis. Findings Results indicated that the use of predictive gamification allowed mitigating future problems, in average, four months in advance of the arrival of the new products at the points of sale. The main findings included improvement in sales arguments, product knowledge and sales closure. The company assigns the results to the implementation of the gamification and the possibility to simulate the evaluation of the level of readiness of the sales force resources. For this, the following three primary variables emerged: adequate definition of training content, analysis of the learning process and simulation of store reality. Research limitations/implications The authors introduced to the sales training literature the concept of predictive gamification. The predictive gamification allows anticipating and reducing future problems before the arrival of the new products in the market, improving the argument of sales, the knowledge about the products and the ratio of sales conversion of stores. Practical implications First, the content design of gamification needs to be carefully projected before the simulator development, considering the target audience and its particularities. Second, the construction of evaluation activities needs to consider contexts, actions and results. Third, monitoring the paths taken by the seller in the simulator environment is requisite. Fourth, the analysis of the results of vendor responses in the simulator environment can be obtained through learning management system reports. Fifth, the development of game simulators with advanced technologies may be done with low investment. Originality/value The findings have implications for the field vis-à-vis three main research gaps identified in the literature discussing gamification in sales training. First, the authors identified best practices from the application of gamification in sales training. Second, they showed the sales qualification processes, which can be improved by applying gamification. Third, they presented strategies of use of gamification as an approach allied to the training of sales professionals to generate enhanced sales results.

scholarly journals A study of serious case reviews between 2016 and 2018: what are the key barriers for social workers in identifying and responding to child neglect?

2020 ◽  
Vol 15 (1) ◽  
pp. 1-14
Author(s):  
Linda Solem ◽  
Clive Diaz ◽  
Lauren Hill
Keyword(s):  
Social Workers ◽  
Child Neglect ◽  
Negative Impact ◽  
Content Type ◽  
Effective Interventions ◽  
Effective Manner ◽  
Definition Of ◽  
The Impact ◽  
The Voice

Purpose Child neglect is the most common form of maltreatment but is also one of the most complex. Neglect has a long-term negative impact on children and young people’s development and wellbeing. This study examined 20 recent serious case reviews that had taken place in England where neglect was a feature. The purpose of this study is sought to explore the barriers, which exist for social workers in England in identifying and responding to neglect in a timely, appropriate and effective manner. Design/methodology/approach Thematic analysis identified four main themes that were likely to impact upon effective interventions. Findings Challenges in terms of the definition of neglect and how to identify it; the use of neglect toolkits; the impact of organisational cultures on practice and the voice of the child. Originality/value In spite of its prevalence there is a dearth of literature relating specifically to the issue of neglect. There is a need for further research to be undertaken because of the acknowledged, seriousness and potential longstanding negative impact on children even into adulthood (Horwath, 2013). It is hoped that this study provides a useful insight into some of the barriers that exist for social workers in working effectively with children and families for whom neglect is an issue.

The effect of industrial competition on employment

2017 ◽  
Vol 27 (4) ◽  
pp. 410-432 ◽  
Author(s):  
Alfonso Mendoza-Velazquez
Keyword(s):  
Employment Growth ◽  
Negative Impact ◽  
Industrial Clusters ◽  
Least Square ◽  
Content Type ◽  
The North ◽  
Industrial Specialization ◽  
The Usa ◽  
Definition Of ◽  
The Impact

Purpose This study investigates the existence of Marshall, Jacob and Porter’s type of externalities in Mexico. We measure the impact of industrial specialization, competition and diversity on employment growth for the period 2004 to 2008. Design/methodology/approach The analysis is based on data from 41 highly dynamic industrial clusters originally obtained by applying Porter’s (1998) methodology. We use a cross-section specification estimated via instrumental variables and two-stage least square estimation (2SLS) to control for endogeneity. Findings On average, we find that industrial specialization exerts a negative impact on employment growth within states and within clusters, indicating that traded industries in Mexico carry very little innovation, operate in early stages of the life cycle, face high costs of employment reassignation or exhibit low adaptability. A negative impact of specialization on employment conforms with Jacobs (1969) type of externalities and confirms what other studies have found in France (Combes, 2000), Korea (Lee et al., 2005) and the USA (Delgado et al., 2014). The authors also find that competition generates more employment. Research limitations/implications Industrial data at the sub-branch level were obtained from the Economic Census (EC) of the National Institute of Geography and Statistics (INEGI). The EC information for 2004 was still not fully compatible with the North America Industry Classification System (NAICS), with 262 of the 309 data at the fourth-digit level aligned to the USA. In addition, industrial information from the EC is recorded every four years, which prevents this study to use panel data techniques and it makes it impossible to use time series methods. Practical implications Policymakers can clearly identify competition forces having a significant impact on employment growth. This can orient policymakers to implement measures to encourage the development of some of these clusters, as well as to identify some of the sources that drive specialization, competition and diversity. Originality/value This paper contributes to the debate on the existence of Marshallian (MAR), Jacobian and Porter externalities. This is the first study using the definition of traded clusters in Mexico, which allows the authors to identify how specialization, competition and diversity forces drive the dynamics of regional employment growth.

Sign in / Sign up

Export Citation Format

Share Document