Exploiting the use of a flexible recipe framework to manage financial risk
نویسندگان
چکیده
This work explores the use of the flexible recipe framework as a manner to manage the risk associated with the operation of batch chemical plants under uncertain market trends. The scheduling problem under uncertainty is mathematically formulated as a multi-objective mixed integer linear problem accounting for the maximization of the expected profit and minimization of risk. A decomposition strategy based on the Sample Average Approximation (SAA) is applied to overcome the numerical difficulties associated with such mathematical formulation.
منابع مشابه
Reputation Risk Management in the Framework of Enterprise Risk Management: Evidences from an Active Financial Institution in the Capital Market of Iran
Reputation risk as one of the most important risks in any competitive industry and market should be considered before all the risks of the enterprise which also affects other risks. This research aims to review and manage reputation risk in the framework of enterprise risk management. Considering the importance of the subject and lack of available studies in this field, the innovation of presen...
متن کاملEffect of Asset and Liability management on Liquidity risk of Iranian Banks
In financial markets, the main component of risk management is liquidity risk. Asset and Liability Management (ALM) strategy is concerned with managing all risks. Asset and liability management seeks to manage liquidity risk, which refers to both the liquidity of markets and which assets can be translated into cash. The liquidity is importantly affected by the management of banks’ balance sheet...
متن کاملA FLEXIBLE METHOD OF BUILDING CONSTRUCTION SAFETY RISK ASSESSMENT AND INVESTIGATING FINANCIAL ASPECTS OF SAFETY PROGRAM
Construction industry has the highest ratio of fatality of workers in comparison with other industries. Construction safety has been always a matter of focus to control safety risks. This article presents a new flexible method of safety risk assessment by adding Hybrid Value Number (HVN) to the assessment equation. As a result of using this method, the results of assessment process will be more...
متن کاملA Framework of Effective Leadership for Environmental NGOs
The challenge and inability to effectively manage organizational resources such as financial capital, human resources, and management of intra- and inter-organizational conflict resolution is one of the issues non-governmental organizations are faced with. Therefore, the purpose of this study is to present an effective leadership model for environmental people-based organizations (PBSs/NGOs) ...
متن کاملSustainability Risk Framework for Universities In the Cintext of Covid-19 Pandemic
In today's world, COVID-19 pandemic has affected many organizations. Pandemic issues have created financial and social problems for businesses. Crisis and risk management have a significant impact on reducing consequences of pandemics. Rapid response to risk enhances the performance of organizations in times of crisis. Therefore, a framework to provide risk treatment in a pandemic crisis seems ...
متن کامل