bluuebunny/crossref_metadata_2025 huggingface dataset:
Digital success through data and analytics maturity
Authors: Booth David
Published: July 2024

Every second of every day, data are collected at an ever-increasing pace, and the opportunity to leverage this information across marketing strategies has never been greater. Despite this, the sad reality is that most organisations find themselves drowning in data rather than using this information to drive business decisions. However, by assessing current maturity levels against a framework that encompasses six pillars of data and analytics success, it is possible for companies to move their data and analytics programmes forward. This framework can be used to drive strategic plans and measure the gains made as organisations work towards the execution of these plans. This paper explores these six facets of success, using detailed examples of how real organisations are using this framework to drive tangible value from data and analytics.
Maintaining waterproofing continuity in watertight structures
Authors: Crossley Richard
Published: July 2024

This paper considers how designers can ensure continuity between different waterproofing systems when constructing below ground. There are hundreds of potential product combinations available, so it is important to consider their characteristics from the outset. In the opening sections the paper introduces relevant industry standards and requirements, and defines the categories of waterproofing product available. The problem facing designers is in integrating these products into their building in a way that achieves a continual waterproofing barrier to protect the internal space. Additionally, the paper presents the typical defects that are characteristic of each product category, as well as other factors that must be taken into account during the construction process. Finally, by identifying the multitude of ways in which waterproofing continuity could be compromised, the paper provides designers with methods by which they can predict and navigate these pitfalls and deliver on the clients’ requirements.
CRD V/CRR II: A comprehensive synopsis of the first European step towards implementing Basel IV (Part I)
Authors: Neisen Martin , Schulte-Mattler Hermann
Published: July 2024

‘Basel III: Finalising post-crisis reforms’ — often referred to as ‘Basel IV’ by the banking industry — is the most extensive regulatory change package of all time. By using the term Basel III instead of Basel IV, the Basel Committee on Banking Supervision (BCBS) may wish to give the impression that only its approaches and ideas from the Basel III papers of 2010 are updated and expanded; the work is, so to speak, complete. Nothing could be less consistent with the facts. Basel IV extends the prudential rules with known standards on the one hand, and on the other, it introduces entirely new approaches that until now have not existed. For transposing the Basel IV recommendations into the European supervisory regulations, two banking packages are necessary. The first package was adopted in June 2019. In particular, the implementation of the amendments to the capital requirements directive (CRD V) and capital requirements regulation (CRR II) will present many banks with major challenges. The second package is still in the planning stage. A draft of the second package, probably including CRD VI and CRR III, is anticipated in mid-2020.
Enterprise risk management: Towards a comprehensive yet practical enterprise risk function
Authors: Fiol Fabrice
Published: July 2024

As enterprise risk management (ERM) is a relatively new discipline within financial institutions, the aim is to provide in the present paper practical guidance and insights into what would constitute an effective enterprise risk function. One of the key challenges banks are facing remains the creation of a comprehensive risk assessment addressing all risk categories, rather than a siloed compilation of risk measures. Enhancing analytics to better understand the risk profile, developing standards and policies applied firm-wide and measuring risks in the context of the firm’s risk appetite are areas where ERM can and should add value. This paper is hoping to help answer how this can be achieved through the following topics: governance principles, reporting and escalation (including risk taxonomy and scoring), risk appetite and stress testing. Risk architecture and technology breakthroughs in the context of enterprise risk management will also be reviewed. Finally, the benefits of implementing an enterprise risk approach firm-wide will be presented from a bank’s perspective, including the business line and internal audit standpoint.
Plaster beetle (psocid) infestation in buildings : Environmental management and control — a pragmatic approach
Authors: Singh Jagjit
Published: July 2024

Plaster beetles (psocids) are active stocky and soft-bodied insects that are commonly found in new-build apartments, flats and housing blocks. They are also commonly called barklice or booklice because of their superficial resemblance to certain species of lice, and because they are found, sometimes in very large numbers, on mouldy books and papers in damp buildings or their basements and under loose, damp bark. Plaster beetles are either pale grey or pale brown in colour and may or may not have wings. They are common but harmless, unpleasant nuisance pests. Many live on bark and leaf surfaces feeding on algae, fungi or lichens. Others are found in leaf litter or in caves. A small number have extended their range to include buildings and building materials such as thatch, stored food stocks and museum exhibits. Plaster beetle infestation is mainly caused by damp and residual moisture, resulting in high levels of relative humidity (> 65–75 per cent) in the structural voids, ducting and insulation thereby allowing mould infestation. Psocids primarily feed on fungi and moulds for a few months in newly built houses after the completion of a building. Spraying with chemical treatments will deal with the symptoms of the problem but will not deal with the underlying causes of the infestation, namely damp, residual moisture and moulds. Heating treatment offered by some companies, whereby the building is heated to 45°C, should kill off psocids in the building; however, this does not address the underlying cause(s) of the problem and there is a risk of reinfestation. The author has advocated non-destructive investigations of buildings combined with correct diagnosis and identification of type and viability of both plaster beetle and mould infestation, as not all mould infestations are equally toxic or pathogenic. The author strongly believes, based on scientific, practical experience and successful case studies over the last 35 years, that environmental control of plaster beetle infestation and preventative maintenance are preferable to remedial conventional chemical spraying treatments. Rectifying building defects combined with drying out the building fabric and preventative maintenance should in most cases forestall the need for major interventions, and it is beyond doubt that these steps reduce the risk of reinfestation in buildings. The environmentally sustainable approach and the ongoing monitoring of the environmental conditions in buildings ensures the long-term health of building materials, health of the occupants and structures.
Operational risk assessment
Authors: Mckim Vicky L.
Published: July 2024

In the world of risk management, which encompasses the business continuity disciplines, many types of risk require evaluation. Financial risk is most often the primary focus, followed by product and market risks. Another critical area, which typically lacks a thorough review or may be overlooked, is operational risk. This category encompasses many risk exposure types including those around building structures and systems, environmental issues, nature, neighbours, clients, regulatory compliance, network, data security and so on. At times, insurance carriers will assess internal hazards, but seldom do these assessments include more than a cursory look at other types of operational risk. In heavily regulated environments, risk assessments are required but may not always include thorough assessments of operational exposures. Vulnerabilities may linger or go unnoticed, only to become the catalyst for a business disruption at a later time, some of which are so severe that business recovery becomes nearly impossible. Businesses may suffer loss of clients as the result of a prolonged disruption of services. Comprehensive operational risk assessments can assist in identifying such vulnerabilities, exposures and threats so that the risk can be minimised or removed. This paper lays out how an assessment of this type can be successfully conducted.
Air travel demand forecasting in the presence of Public Service Obligation (PSO)
Authors: Devoto Roberto , Meloni Italo , Rassu Nicoletta , Teulada Benedetta Sanjust Di
Published: July 2024

Knowing the potential evolution of air transport demand is necessary in order to ensure the positive effects that are generated by air transport itself, in terms of economic and social development. There are several air transport demand forecasting models, which differ from each other in terms of time, available data and the aspects to be analysed. The aim of this study is to create forecasts that can help government authorities to formulate air transport development policies. This paper focuses on a regional context — Sardinia — the second largest island in the Mediterranean. A large part of its economic and social development potential (tourism-related) is based on breaking its isolation by substantially improving air transportation services. In particular, the originality of these forecasts lies in the attempt to interpret a context characterised by different factors influencing the air transport market. Public Service Obligation (PSO) (Art. 4 RC 2408/92) was first imposed in Sardinia in 2002, on several domestic routes. Low cost companies have been operating since 2007, and some of them took advantage of public subsidies to develop new routes. During the same period, the three major Sardinian airports were expanded and improved. This paper provides a detailed, descriptive analysis of air transport demand evolution at Cagliari’s airport (1995–2014). Based on this analysis, several regression models for aggregate data have been specified and calibrated, distinguishing between domestic and international passengers.
Creating an integrated digital marketing strategy: Using cross-channel data to build intelligent strategies
Authors: Thorpe Hannah
Published: July 2024

The current approach to marketing is frequently single-channel focused, looking at each element of the marketing mix in turn as opposed to an integrated approach. This paper explores some of the important processes, milestones and frameworks that must be developed in order to take advantage of the potential of a multi-channel strategy. It is a starting point for creating the infrastructure an organisation needs in order to implement more successful strategies, which will help achieve underlying business goals.
Central bank digital currencies: An active role for commercial banks
Authors: Denecker Olivier , D’Estienne Arnaud , Gompertz Pierre-Matthieu , Sasia Elia
Published: July 2024

With most central banks now exploring central bank digital currencies (CBDCs), commercial banks should be looking to establish their role in this fast-changing landscape. Among the roughly 90 per cent of the world’s central banks pursuing CBDC projects, many, including those in the USA and South Africa, are at the exploratory phase. Others are already managing development projects (the European Union) and pilots (China). The various imperatives behind these initiatives are easy for private actors in these markets to overlook, which sometimes complicates private–public cooperation. However, digitally issued public money stands at the forefront of central bank innovation in the monetary space. This paper reviews why central banks need to explore digital currencies and what questions they should address. It also sheds light on what commercial banks need to consider as they anticipate their stance in the CBDC development process. For both parties, the final section outlines the hurdles to successful CBDC design and rollout.
Tradition-led regeneration of contemporary neighbourhoods’ spatial structures: A case study of Tehran City, Iran
Authors: Goudarzi Nasibe Barati , Gharai Fariba
Published: July 2024

Over the past decades, modernisation has been viewed by some as one of the greatest dangers to urban life, having altered neighbourhoods dramatically. The most significant problem is the destruction of traditional neighbourhoods. The authors propose that a viable solution to this problem is to regenerate the spatial structure of contemporary neighbourhoods using traditional styles and elements. The transition from traditional to modern society has created numerous styles and challenges in the Iranian urban landscape system; in particular, the city of Tehran is experiencing considerable changes in terms of visual appeal and connection to the environment. In this paper, the principles and models for traditional neighbourhoods in the city of Tehran were studied and grouped into three categories: form, function and meaning, as a guide to regenerate the spatial structure of contemporary neighbourhoods. Three neighbourhoods from different eras were selected: Oudlajan, Shahrara and Shahid Bagheri, from the Qajar period (1789–1925), the Pahlavi era (1925–79) and the modern era, respectively. Spatial models were extracted by analysing the traditional urban design of the city of Tehran in three time periods alongside patterns and principles used in the regeneration process. Following this, criteria and principles were proposed for tradition-led regeneration of the spatial structures of contemporary neighbourhoods by form (physical form system/urban landscape), function (land use system and activity/movement and access system) and meaning/perception (frameworks for public spaces).
`Ethnicity, Class and Aspiration` by Tim Butler and Chris Hamnet
Authors: Bowie Duncan , McCarthy John
Published: July 2024

Ethnicity, Class and Aspiration; Edited by: Tim Butler and Chris Hamnett; Reviewer: Duncan Bowie. Cultural Quarters. Principles and Practice; Edited by: Simon Roodhouse; Reviewer: John McCarthy
Party Wall etc. Act 1996 : How the form of project procurement impinges on the role of party wall surveyors
Authors: Adam James
Published: July 2024

Design and build contracts have become increasingly popular over the past two decades. Such contracts offer many advantages, but, to the party wall surveyor, they can create difficulties. Under traditional procurement routes, ‘upfront’ design detailing provides party wall surveyors with the information they need to formulate and agree awards with adjoining owners; under a design and build contract, that information is provided much, much later in the project’s programme. This can leave very little time for awards to be put in place in time for the commencement of notifiable works, potentially causing project delays and also raising risks and costs. The undiminishing popularity of the design and build contract means that building owner’s surveyors must seek to proactively guide and influence projects to secure successful — and timely — completion. Client education, engaging fully with the project team and the careful use of reserved matters and phased/addendum awards can all play a part in ensuring awards are agreed in time, particularly on large/complex projects.
Content meets big data: Driving personalised digital engagement through customer understanding
Authors: Dipiazza Gabriele , Hardy Robin
Published: July 2024

Today’s digital marketplace is a playground for consumers and marketers alike; an environment generating enormous volumes of data that can be used to craft enticing digital campaigns. Consumers are leaving digital footprints at numerous touch points that marketers can use to facilitate dialogue, using data to set strategy, create experience, and if successful, ultimately drive conversation and customer loyalty. A shift from database-driven approaches, marketing by gut feel and the massive uptake of social media has led to extremely active digital exchanges of opinions, behaviours and preferences. Now, using technology that can understand multichannel information, from various sources including big data, the door has opened for digital marketers to make decisions and drive results based on facts, data and the intelligence and insights derived from human information. This paper discusses the current marketplace, the way technology can be leveraged to garner intelligence, and best practices for engaging customers and increasing the bottom line.
Evolving a payments business to meet the demands of a distributed economy
Authors: Canaday Tyrone
Published: July 2024

Payment services are in the frontline of the ongoing digital technology revolution. Financial technology (FinTech) companies are breaking boundaries and offering services such as digital cash, cognitive systems and distributed ledger technology to offer customers a more streamlined, user-friendly and cost-effective experience. Some traditional financial institutions are partnering with FinTech firms in an effort to be part of the digital revolution rather than be left behind. But such partnerships and experiments with financial technology products and services need to be managed carefully. This article discusses the current and future state of the payments innovation environment, key change drivers, disruptors, and considerations for a strategic transformative journey which balances speed of innovation with risk.
Photographic regenerative interfaces
Authors: Shergill Ram
Published: July 2024

In the 21st century, photographic images are everywhere and are being further advanced with the progression in image-making through photographic technologies. The progressive and contemporary camera creates images that produce a ‘fantasy through product’. These images, once used in branding and communication, tell consumers a story, illustrating concepts that cannot be seen in ‘real’ images from the natural world. The constructed digital image is thus used as a ‘projection model’ furthering communication paradigms and design technologies. The digital photographic ‘regenerated’ image becomes an imaginative and technical communicative tool relaying a vision. The unaltered original raw image itself becomes an interface and is further modified to create new narratives—the itinerant image becomes an inextricable link between a brand and the consumer. Novel image production methods and methodologies are necessary for human advancement in terms of science and technology and are a useful tool for development approaching Industry 4.0. This paper analyses how photographic regenerative interfaces and image regeneration methods can expand visibility and affect the world through the interlinking and symbioses of images. It also analyses how the pre-existing raw image will soon be used as a design tool, leading to potential uses of photographic regenerative interfaces for novel applications.
Zealous nut: A conversation with Project for Public Spaces founder Fred Kent
Authors: Kent Fred , Jackson Betsy
Published: July 2024

Project for Public Spaces (PPS) is a New York City-based non-profit organisation that assists communities around the world in understanding the nexus of public space and communal use, and facilitates local solutions that are, as Fred Kent, founder of PPS says, ‘place led’. In 1975, PPS began to expand on the work of William Holly Whyte, author of ‘The social life of small urban spaces’ (1980) and ‘City: Rediscovering the center’ (1988). Over the ensuing forty years, PPS has undertaken projects in more than 3,000 communities in 43 countries and all 50 US states. More than 900 people are members of the Placemaking Leadership Council, describing PPS’s vision as ‘the central hub of the global Placemaking movement, connecting people to ideas, expertise, and partners who share a passion for creating vital places’. In this conversation with Betsy Jackson, JURR Editorial Board Member and President of The Urban Agenda, Inc. (Ann Arbor, Michigan), Fred Kent discusses the key features of good place making, as well as the barriers to the creation and management of dynamic community spaces. In general, local elected officials and the design professions do not fare well in Fred’s worldview of place making, while grassroots activism and entrepreneurial, private-sector leadership emerge as keystones to success.
Engineering warm fuzzies: Applying user experience principles to create philanthropic experiences — part one: direct mail solicitations
Authors: Moss Christy
Published: July 2024

As we have moved firmly into the 21st century and as our society and its expectations are continuously evolving, so must our higher education advancement practices. Rather than asking ‘How do we want alumni and donors to engage with our universities?’, we must ask ‘How are these individuals already intuitively engaging the world?’ Instead of falling into the trap of thinking ‘What are global best practices in higher education advancement?’, we should be asking ‘Which global companies are curious and responsive in their interaction with humans, and what can we learn from them?’ In answering these questions, this paper tests a human-centred solicitation approach via three primary channels: mail, phone and e-mail. For each channel, multiple tests are performed and the principles and tools of human-centred design and user experience are implemented, including ethnographic interviews, user personas and A/B testing. The results of these tests lead to the recommendation of a user-centred approach to philanthropic interactions that is constantly testing and evolving practices. Now more than ever, consciously building and testing systems centred around removing obstacles impeding giving defines the work of the modern advancement professional.
Improving connectivity at hub airports
Authors: Veldhuis Jan
Published: July 2024

The paper addresses some critical success factors of hub development. Some factors are ‘natural’ and not to be influenced by any policies, such as the geographical location strength of the home markets of the hub airport. Other factors are more ‘strategic’, such as acquiring traffic rights, coordination between arrival and departure flights, airfares or connecting time at the hub. The paper shows a methodology of measuring the performance of hub airports in connecting markets using the NetScan model. This model utilises two perspectives. The ‘supply’ perspective looks at connectivity — how many realistic (direct and indirect) connections exist between two points — while the ‘demand’ perspective looks at the market share particular hubs can obtain in specific markets. This methodology is illustrated using the example of Cairo Airport and the specific market between North Africa and the Middle East. Although Cairo has favourable ‘natural’ conditions, its performance as a hub is poor. Some recommendations for schedule changes are made as well as the related improvements in the performance of this hub. It is concluded that relatively minor changes made to schedules and connecting times may lead to significant improvement in the performance of hub airports.
Banner Health supply chain’s strategic pivot in 2020
Authors: Aafedt Darcy
Published: July 2024

Supply Chain’s job is to ensure that critical personal protective equipment (PPE) supplies remain available for their caregivers. COVID-19 has made running out of those supplies a real possibility. Business as usual is not an option; pivoting is strategic and crucial. Banner Health Supply Chain’s collaboration and education throughout the organisation on supply chain services and cost, quality and outcomes as core competencies enabled rapid mobilisation and permanent strategic pivots in response to COVID-19. It collaboratively teamed with clinical practice to assess the situation and implement solutions in an environment that presented numerous barriers. Managing disruption and understanding the changing supply chain, while not new practices, calls for faster turnaround, flexibility and resilience. Continued work to digitally enable the supply chain allowing for more visibility will support these efforts. This paper provides an overview of supply chain services at Banner Health and the team’s strategic responses to COVID-19. It also looks ahead to a future supply chain post COVID-19.
Small actions — big change: Delivering regeneration in the age of austerity
Authors: Havers Imelda
Published: July 2024

In the years since the recession hit the UK economy in 2008, the regeneration sector has been dealt a double blow. First, the credit crunch swept away lending to developers poised to build in regeneration areas. This was followed from 2010 by the introduction of deep cuts to spending by the Coalition Government. The former wiped out hope of further job creation and physical redevelopment in areas where markets were weak. The latter brought public services to their knees more swiftly and comprehensively than anyone could have previously imagined. So where does this leave regeneration? Central government, in the drive to reduce its economic deficit, is in danger of leaving behind those who need help most. This paper looks at ways of creating more viable and harmonious communities through low-cost and high-impact interventions, through springboards rather than safety nets, and by stimulating participatory democracy. It explores ways to help reshape neighbourhoods: through regaining control of decisions at a local level; by channelling optimism; and by harnessing financial and social investment. It offers practical ideas for delivering regeneration from the bottom up, drawing on specific examples of communities where new approaches have helped them create spaces and places to be enjoyed by all.
The use of RegTech in fighting financial crime
Authors: Sumkovski Igor
Published: July 2024

The fast pace of technological change and the ever-evolving regulatory landscape create a unique environment in which the financial institutions (FIs) are expected to perform at their maximum while remaining compliant with complex regulations. The compliance complexity ultimately results in higher costs for FIs and banks specifically, as this often means increased numbers of compliance staff and investing in new technologies. However, while investing in a sophisticated RegTech solution may seem a viable option for addressing the complex compliance requirements, in practice the situation is much more complicated. Implementing the latest RegTech solution in a traditional bank, particularly in one with a history of mergers and acquisitions where the legacy systems may still be in use, and where the data is held on different and sometimes incompatible platforms, is a good example of the complexities that arise in the decision-making process. This paper focuses on the practical challenges faced by a traditional bank when considering the implementation of a RegTech solution and also explores how RegTechs and banks can work together in order to overcome these challenges by better understanding each others' perspectives.
Public–private intelligence coordination
Authors: Trzeciak Chris , Hink Michael
Published: July 2024

The majority of US critical infrastructure is managed and controlled by the private sector. Nearly all commercial and retail banking is operated by private corporations and non-public entities. This reality creates the need for timely information sharing between the public and private sectors to support effective crisis response. This paper explores the current information-sharing environment between the public and private sectors and identifies best practices for improving information sharing between private and public sector organisations.
A study of quality assurance impact on online learning outcomes of college students
Authors: Wang Jianjun
Published: July 2024

The effectiveness of online teaching depends on quality assurance (QA) support, including individualised helpdesk assistance and group-based faculty training. The purpose of this study is to examine the QA impact on student learning outcomes through a twofold approach: (1) quantitative analyses of the relationship between QA assistance data and 51,670 grade point average (GPA) records across online courses during the COVID-19 pandemic; and (2) qualitative extraction of the topic patterns about helpdesk services at a state university in California. An R package is employed to capture the primary features of technical assistance. While the QA support is triggered by the massive course switch to online teaching, the impact has been sustained by the fact that many incoming college students have taken online courses during the pandemic and wish to keep the online programme options in higher education. In alignment with the extended needs, the research findings are discussed to draw the future implications of QA support for faculty professional development and student learning in the post-pandemic era.
Special event planning for the emergency manager
Authors: Gaynor Peter T.
Published: July 2024

In the domain of emergency management and homeland security there is a lack of a formal planning process at the local level when it comes to special event planning. The unique nature of special event planning demands an understanding of the planning process for both traditional and non-traditional planning partners. This understanding will make certain that local governments apply due diligence when planning for the safety of the public. This paper offers a practical roadmap for planning at the local level. It will address those ‘special events’ that are beyond routine local events but not of a sufficient scale to be granted National Special Security Event status. Due to the infrequency of ‘special events’ in most communities, it is imperative that deliberate planning takes place. Upon conclusion, the reader will be able to construct a planning process tailored to the needs of their community, guide both traditional and non-traditional planning partners through the planning process, determine priorities, explore alternatives, plan for contingencies, conduct a confirmation brief, facilitate operations and assemble an after-action report and improvement plan.
Corporate users benefit through proactive lease administration
Authors: Stabile Albert
Published: July 2024

Until recently, lease administration and audit services were a reactionary effort to combat cost reductions as poor lease language played the culprit in leaving millions of dollars on the table for space users. When lease administration and audit teams take a proactive approach to examining lease language in the early stages of drafting (tackling areas such as tenant improvements, taxes, expenses and auditing), opportunities are created for a negotiation process that ultimately evolves into more favourable terms for the tenant. Simply put, without intelligent, proactive and comprehensive lease administration and audit programmes, tenants will continue to blindly fall victim to landlords and miss out on the inevitable savings that go along with them.
Micropayments: A survey of the payment instruments accepted by Western European newspaper sites
Authors: Bleyen Valérie-Anne , Van Hove Leo
Published: July 2024

This paper analyses 82 national newspaper sites from eight Western European countries (Belgium, the Netherlands, Luxembourg, France, Germany, Italy, Spain and the UK). These sites were checked as to whether the content is offered free or against payment, the payment instruments they accept are listed, and it is noted whether the sites rely on subscriptions and/or unbundled access options such as pay-per-view. Based on these dimensions, the paper paints a picture of the payment instruments accepted by Western European newspaper sites. One observation that stands out is that micropayment instruments are still not popular. Most schemes are only accepted in a single country, by a limited number of sites. Tellingly, none of the micropayment instruments is accepted by more than 13 per cent of newspapers. Also, 17.5 per cent have yet to adopt an online payment system, for either macropayments or micropayments. A second result is that there are large idiosyncrasies between countries, which typically reflect differences in use in the real world. Finally, the analysis confirms that traditional payment instruments are accepted mainly for the payment of subscriptions, and micropayment instruments mainly for unbundled access options.
Lessons in preparedness from the response to Hurricane Katrina
Authors: Bond Brandon
Published: July 2024

In August of 2005, Hurricane Katrina forever changed the face of emergency response and business continuity. Disaster medical assistance teams (DMATs) were deployed to aid victims of the storm as part of the National Disaster Medical System. The response, which included deployment to the New Orleans Superdome, the Louis Armstrong International Airport and West Jefferson Medical Center, provides the basis of this paper. With an estimated 70,000 to 100,000 people seeking refuge in the Superdome, the DMATs set up a triage/treatment area in the basketball/ice arena for an estimated 3,500 special needs (eg elderly) and medical patients. Based on those experiences and the following four weeks of response in New Orleans, this paper addresses business continuity by preparing the individuals and communities of an organisation to be self-sustained, thereby enabling the organisation to focus better on corporate response and recovery. The paper will address corporate emergency preparedness and the areas of communications, command and control, and training.
Speculative methods: Conceptualising a theoretical framework for reimagining racism awareness in education
Authors: Perkins Trudi L.
Published: July 2024

In the present period of great change, there is a clear need to revisit existing work on anti-racist education. To address this need, this paper proposes a conceptual process for reframing education from a racism awareness stance, giving K-12 educators a more central role in the reshaping of education. By learning different ways of questioning, educators at all levels will be better able to identify new paths to greater individual and collective racial growth.
Evolving emergency programme models
Authors: Johanis Deane
Published: July 2024

The topic of this paper is framed within the context of the evolution of what is referred to as modern emergency management programmes covering the 20th and 21st century, and is centred on two main questions: ‘How does an emergency management programme fit within the broader construct of an organisational entity?’ and ‘What changes are needed to have emergency management programmes regarded as strategic value-added programmes?’ Why these questions should be of interest to emergency managers will be explored in this paper. Reference will be made to the evolution of the emergency programme at Toronto Pearson International Airport as it relates to the application of the approaches and principles discussed.
Prepare for recovery: Approaches for psychosocial response and recovery
Authors: Hoffer Ken , Martin Tobi
Published: July 2024

This paper describes how Alberta Health Services (AHS) has learned from the various disasters in the province to develop a more coordinated approach to psychosocial response and recovery. It will explain the impact of disasters, typical stress reactions, the theoretical underpinnings of psychosocial response and recovery, while also highlighting some key successes and strategies used at AHS.
The new European funding landscape: What are the opportunities for urban regeneration?
Authors: Baxter Sue
Published: July 2024

Anticipating the next round of European Union (EU) funding for 2014–2020, the challenges confronting the new programmes are at their most acute since the funds were established several decades ago. Practitioners working with EU funds will not be able simply to trade on their past experience and expect to do ‘more of the same’ without stopping to think about what they are doing and how they are doing it. They will need to show that they can do better with less. Economic recession, an unprecedented Eurozone crisis and prolonged austerity have driven a renewed sense of urgency and accountability through every EU programme. In a period in which public funding for urban regeneration is scarce, European Structural and Investment (ESI) funds represent a major source. Composing over one-third of the total EU 7 year budget of e960bn, ESI funds are regarded across Europe as the main financial lever for lifting the EU out of the economic doldrums. Every Eurocent will have to demonstrate its contribution towards that goal, and those who use them will need to be able to show that their EU investments make a positive and measurable impact on growth and represent value for money. The overall performance of the funds — at local, national and EU level — will be monitored at all stages along the way, with scrutiny of impact and proper spending taking centre stage. Understanding the context, reasoning and sense of purpose behind the new EU programmes is essential for any regeneration professional wanting to target and manage the funds successfully. In England, a radical shake up of the economic development architecture has forced an equally radical rethink of how future EU funds should be managed. A much more granular approach to tackling market failure, which is firmly rooted in the national policy context for driving international competitiveness, has set the direction for the future administration of ESI funds. This paper describes the key principles and stages of development enshrined in the new EU programmes for England to help guide practitioners through their journey.
Compliant marketing: Breaking down the New Marketing Rule
Authors: Cope Elizabeth
Published: July 2024

The Securities and Exchange Commission (SEC) adopted the New Marketing Rule on 4th May, 2021, giving registered investment advisers until 4th November, 2022 to comply. This New Marketing Rule (the Rule) replaced the original advertising rule that was adopted in 1961 and the original cash solicitation rule that was adopted in 1979. This much-needed update takes into consideration the modernisation of advisers' marketing efforts and combines the two old rules into one. As with any new rule, advisers run into the added challenge of interpretation. This Rule is primarily principles-based, and we do not know yet how the SEC will interpret advisers' various implementations. This paper will only address the requirements that apply to investment advisers registered with the SEC. As such, this paper will tackle the new definition of an ‘advertisement’, principles-based prohibitions, specific disclosure requirements and restrictions for performance, testimonials and endorsements, third party ratings, clarification on the applicability for private fund managers, new ADV disclosure requirements around advertising and new books and records requirements.
Credit BuVaR: Asymmetric spread VaR with default
Authors: Wong Max
Published: July 2024

A tradeable credit instrument shows two forms of credit risk — a continuous spread risk and a discontinuous default risk. The Basel market risk framework requires the two risks to be modelled separately for the purpose of regulatory capital but this gives rise to issues of risk aggregation. The author proposes a risk metric called credit bubble VaR (Cr. buVaR) that combines these dual risks under a common historical simulation value-at-risk (VaR) approach. By using a single model, Cr. buVaR bypasses the problem of risk aggregation. Credit risks can then be aggregated with market risk in a diversifiable manner. Cr. buVaR is also found to be forward-looking with respect to issuer credit default and is not procyclical. The model is motivated by evidence from the 2008 crisis that issuer defaults and spread movements exhibit asymmetry, and that defaults are always preceded by rapid spread widening. The method involves scaling the positive side of the return distribution of credit spreads in proportion to current spread levels. By drawing inferences from studies on the ‘credit spread puzzle’, it is deduced that the incremental loss of Cr. buVaR over spread VaR is due to default risk.
Quantifying climate risk uncertainty in competitive business environments
Authors: Sobehart Jorge R.
Published: July 2024

As the impact of climate change and CO2 emissions gain more visibility globally, there is increased interest in understanding how the industry landscape will be reshaped in response to the changing physical, economic and political environment. This paper introduces an approach for quantifying the risks associated with the release and adoption of competitive products and services for the long-term uncertainty generated by climate risk scenarios. Our approach can be used for assessing the risks of business strategies whose revenues are used for the repayment of obligations in industries affected by climate risk or CO2 emission costs, and for estimating the probability of default on those obligations under different scenarios. Our approach can also help gain insight into the uncertainty of different net-zero emission strategies and into the uncertainty of outcomes due to nonlinearities, synergies and model misspecification.
Reskilling for the future: Enabling colleagues with a digital mindset who are ready for a future global digital era and platforms
Authors: Packard Helen , Liu Louise
Published: July 2024

This paper explores the effect of digital skills at the individual, company and national levels to meet the digital era. UK and European Union based case studies are utilised to fully understand how jurisdictions are preparing stakeholders with confidence and digital tools capability and mindsets. The paper explores how large financial services employers and EdTech are striving to meet the challenges of the accelerating digital era. Finally, it aims to further encourage momentum to close the gap in digital skills by preparing stakeholders for success in the digital age. It concludes that the option of not evolving with technologies and data through new digital skills is no longer feasible for successful careers and industries.
COVID-19: Risk-adjusted portfolio returns of emerging and developed equity markets
Authors: Harjoto Maretno Agus , Rossi Fabrizio , Lee Robert , Kownatzki Clemens
Published: July 2024

This study examines the impact of the novel coronavirus (COVID-19) on the stock markets’ risk and return across emerging and developed countries. Based on a sample of 76 countries from 14th January through 19th August, 2020, the authors find that the stock excess returns are negatively related to daily new cases, but not deaths from COVID-19. The authors’ ex-post analysis indicates that the daily cases from COVID-19 are strongly related to daily stock excess returns in both emerging and developed markets during the declining period of the equity markets (pre 23rd March, 2020). Although the equity markets in the developed countries have experienced an unprecedented recovery during post 23rd March, 2020, the authors find that the stock markets in emerging countries exhibit greater positive abnormal returns above their respective market benchmarks. Findings from their ex-post analysis indicate that there is a portfolio diversification that could have been gleaned by investing in both emerging and developed equity markets during the post stock markets’ decline due to COVID-19.
CRD V/CRR II: A comprehensive synopsis of the first European step towards implementing Basel IV (Part II)
Authors: Neisen Martin , Schulte-Mattler Hermann
Published: July 2024

Two banking packages are needed in Europe to implement the Basel recommendations of the standard ‘Basel III: Finalising post-crisis reforms’ into European supervisory regulation. The Basel Committee on Banking Supervision (BCBS) and European supervision use the abbreviation ‘Basel III’ for the reforms. They thus give the impression to those unfamiliar with the subject that the supervisory authority is merely updating and expanding the approaches and ideas published in the Basel III papers of 2010 in response to the financial crisis of 2007/2008. In the overall picture, however, this is not the case. In addition to the usual updating of known standards, the supervisory authority is introducing a large number of entirely new approaches and regulations that did not exist in this form previously. Banking sector is rightly using the term ‘Basel IV’ instead of ‘Basel III’ for this regulatory change package, which is the most comprehensive ever at both the international and European levels. The first European banking package was adopted in June 2019 and is currently being implemented. It is also known as the ‘CRD-V-CRR-II package’, as it makes significant changes to the capital requirements directive (CRD) and capital requirements regulation (CRR) in particular. This paper — like Part I which appeared in Journal of Risk Management in Financial Institutions Vol. 13, 2 — analyses the remarkable changes that will pose notable challenges for many banks. We use a four-pillar concept to differentiate the most critical issues. The publication of the second European banking package for the full implementation of Basel IV is still pending. The contents of the ‘CRD-VI-CRR-III package’ will therefore only be analysed at a later date.
Global harmonisation through information
Authors: Bradford Steve , Humbertson Robert , Perper Allen
Published: July 2024

Over the last 20 years, air traffic management (ATM) has progressed its ability to optimise individual actions to improve the utilisation of existing capacity. In order to take the next step and meet current user expectations and future air transportation system growth needs, however, it needs to move beyond the individual to integrated decisions. The future system, whether operating on the surface or in the air, must be founded on high-integrity information management including unambiguous information exchanges and collaborative decision making. In order to meet the interoperability requirements of the global aviation community, several aspects of information management need to be improved upon, including globally accepted standards, operational needs and efficiency objectives, as well as making use of emerging information technologies to enable it. The new requirements on integrated information encompass improved data quality (ie accuracy, resolution and integrity), timely distribution of information, digital processing and exchange of information, and more efficient and effective management of information. This paper highlights the interoperability issues of ground ATM automation systems and touches upon the integration of aircraft information into the ATM system. With the current emphasis on global interoperability among all the individual systems, globally accepted technical standardisation in the system architecture and data exchange standards for ground ATM automation systems is a prerequisite for harmonisation of services.
Why go hungry? How analytics can turn a risk appetite into a competitive advantage
Authors: Venne Ulf , Hise Phaedra
Published: July 2024

It is no secret that global corporations see risk as negative. Executives trained to focus on loss aversion are not thinking of risk as an opportunity. Yet, if businesses can increase their risk appetite, operations can embrace supply chain risk as a true competitive advantage. In other words, if organisations analyse risk, they can accept a certain amount of reasonable risk in order to reach strategic goals. When unexpected supply chain disruptions hit, managers and executives can shift the company mindset using a data-driven approach to gain both a financial and a competitive advantage. Corporations from Nokia and Amazon to Tesla and Toyota have experienced the financial benefits of a healthy supply chain risk appetite. Emerging technologies and in-depth analytics create even more instances for the prepared company to see the value of leveraging risk. Risk transparency via analytics helps convert risk into opportunity.