Organizational control is one of the fundamental functions of management. Although controls come along with performance constraints, organizations rely on control mechanisms to direct attention, motivate, and encourage organizational members to act according to organizational goals and objectives. Managers build their decision on control design on the degree of knowledge about the value creatio...

In this paper, we consider a multi-objective control problem for stochastic systems that seeks to minimize a cost of interest while ensuring safety. We introduce a novel measure of safety risk using the conditional value-at-risk and a set distance to formulate a safety risk-constrained optimal control problem. Our reformulation method using an extremal representation of the safety risk measure ...

This paper has combed the research results on internal control of small and medium manufacturing enterprises of domestic and foreign scholars. Combined with the status analysis of internal control and risk management of small and medium manufacturing enterprises, this paper built the internal control framework of small and medium manufacturing enterprises based on comprehensive risk management ...

To meet the targets of the Kyoto Protocol, European Union has established the European Emission Trading Scheme, a mandatory market for carbon emission allowances. This regulatory framework has introduced a market for emission allowances and created a variety of emission-related financial instruments. In this work, we show that the economic mechanism of carbon allowance price formation can be fo...

This paper presents a new approach for consumer credit scoring, by tailoring a profit-based classification performance measure to credit risk modeling. This performance measure takes into account the expected profits and losses of credit granting and thereby better aligns the model developers’ objectives with those of the lending company. It is based on the Expected Maximum Profit (EMP) measure...

south asian countries have a high prevalence of coronary heart disease (cad) in line with their economic development. in these countries, we find nearly one quarter of the total world population in the process of nutritional transition, from poverty to affluence due to rapid economic development. india; in particular, with a population of over one billion has a high burden of cad. to evaluate t...

Value at Risk (VaR) has emerged in recent years as a standard tool to measure and control the risk of trading portfolios. Yet, existing theoretical analyses of the optimal behavior of a trader subject to VaR limits have produced a negative view of VaR as a risk-control tool. In particular, VaR limits have been found to induce increased risk exposure in some states and an increased probability o...

Control of outsourced IT projects is an important topic in several research disciplines. This study brings together two approaches from auditing and IS literature in order to obtain deeper understanding of control mechanisms in complex outsourced IT projects. It is proposed that communication tools, viewed as “boundary objects”, are also useful for implementing control functions, such as risk a...

Free flight has been proposed as a future alternative to the current policy in Air Traffic Management (ATM) where aircraft follow predefined corridors. In free flight pilots can choose their own optimal routes, altitudes and velocities but are also responsible for the safe and fair resolution of trajectory conflicts. This would require a safe distributed control system were the trajectories tha...