• Journal of the Korea Safety Management & Science
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• v.10 no.4
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• pp.93-104
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• 2008

A successful fire risk assessment is depends on identification of risk, the analytical process of potential risk, on estimation of likelihood and the width and depth of consequence. Take the influence on enterprise into consideration, Fire risk assessment could carry out along the evaluation of the risk importance, the risk level and the risk acceptance. A large part of the limitation of choosing the risk assessment techniques impose restrictions on expense and time. If it is unnecessary high level risk assessment or Probabilistic Risk Assessment of buildings, in compliance with the Relative Ranking Method, Fire risk indexing and assessing is possible. As working-level technique, AHP method is useful with practical technique.

• Journal of Korean Institute of Industrial Engineers
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• v.25 no.4
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• pp.437-447
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• 1999

Previous researches on risk attitudes or on the typical utility functions have mostly focused on how the risk attitude of decision maker varies when changes are made in one or two lottery reference points such as consequence domain and magnitude of probability under assumed risk situations represented by simple lotteries. It is, however, very difficult to forecast dominant risk attitudes under risk situations which exhibit a complex combination of many reference points. In this study, twelve risk situations which a decision maker may confront in real decision-making situations were formulated by combining in various ways three reference points, that is, magnitude of probability, consequence domain, and magnitude of gain or loss. Then through a questionnaire dominant risk attitudes under every assumed risk situation were investigated, and the general shape of utility function implied by the experimental results were derived. Results of the present study show that none of the three reference points have dominant effect over the others due to complicated interaction between them, and given the twelve risk situations the observed risk attitude widely varies from strong risk taking to strong risk aversion.

• The Korean Journal of Franchise Management
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• v.9 no.4
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• pp.45-56
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• 2018

Purpose - Consumers perceive various risks while using food service franchise stores. Food service franchise stores offer consumers not just menus, but services, physical environment, and prices, which can be perceived as risk to consumers. This means that consumer behavior in foos service franchise stores needs to be studied based on perceived risk theory. Perceived risk consists of performance risk, financial risk, social risk, psychological risk, and time risk. The purpose of this study is to investigate the effects of perceived risk on satisfaction and trust, and in turn affect loyalty. The results of this study will provide guidelines for marketers to develop strategies to reduce the perceived risk of consumers. Research design, data, methodology - In order to achieve research purposes, the authors developed several hypotheses. Data were through online survey through an online survey firm. A questionnaire survey was distributed to customers who have visited the restaurant in the past three months. The survey was conducted from March 5, 2017 to October 14, 2017. A total of 1,500 people were e-mailed and 260 were returned. A total of 245 items were used in the analysis except 15 of the questionnaire. Data was analyzed by using SPSS 21.0 and AMOS 21.0. Results - The findings of this study are as follows: First, performance risk, economic risk, and psychological risk had negative effects on satisfaction. Social and time risks did not affect on satisfaction. Performance risk and time risk had negative impact on trust. Second, economic, social, and psychological risks did not affect trust, but satisfaction had significant positive effect on trust and loyalty. Third, satisfaction had positive effect on loyalty. Conclusions - The implications of this study are as follows. First, food service franchise marketers should increase their customer loyalty by establishing a risk reduction strategy. Second, there are various risks to customers visiting the store. Therefore, marketers need to analyze the perceived risks of customers. Third, it is also necessary to eliminate the perceived risks of customers. In addition, a restaurant franchise company needs to find a reasonable way to reduce the material cost and present a reasonable menu price.

• Fashion & Textile Research Journal
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• v.17 no.2
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• pp.216-226
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• 2015

This study identifies factors of perceived risk of up-cycling fashion products and investigates perceived risk factors that influence consumers' trust, purchase intention, and recommendation intention towards upcycling fashion products. We also examine the relationship of trust, purchase intention, and recommendation intention for upcycling fashion products. A qualitative research method using a free narrative form and depth interview were used. The perceived risk from up-cycling fashion products generated 5 factor solutions: aesthetic risk, sanitary risk, social risk, performance risk, and economic risk. Next, 201 effective data were collected from a questionnaire survey and analyzed with SPSS 22.0. The results are summarized as follows. First, aesthetic risk and performance risk had a negative effect on products. Second, aesthetic risk and performance risk had negative influence on purchase intention for upcycling fashion products. Third, performance risk had a negative impact on recommendation intention for upcycling fashion products. Fourth, trust had positive effect on purchase intention and recommendation intention for upcycling fashion products. The results of the current study provides various theoretical and practical implications for marketers and retailers interested in up-cycling fashion products.

• Journal of Korea Society of Digital Industry and Information Management
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• v.19 no.3
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• pp.129-136
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• 2023

In this paper, we describe a rule-based risk classification algorithm to perform Risk-based Inspection (RBI) on imported goods at customs. The RBI system is a method to automatically select which cargos have to be inspected and manage potential risks in boarder. In this study, we designed a rule-based risk classification algorithm for RBI solutions and implemented them using the Svelte web application framework. The risk classification algorithm proposed in this paper uses different indicative risk factors such as HS code, country of origin, importer's reliability, trade relationships, and logistics routes to classify cargos into Green, Yellow, and Red channels. To achieve this, we assigned risk categories to each risk factor and randomly generated risk scores within a specific range for each risk category. This system is expected to contribute to the increased efficiency of customs operations and protect public safety by minimizing the risk of imported hazardous materials.

• Journal of Korean Society for Quality Management
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• v.41 no.3
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• pp.465-474
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• 2013

Purpose: To provide a variety of stable military supplies, risk should be avoided or removed. This paper aims to provide an objective method of risk assesment for risk matrix to evaluate risk level. Methods: According to previous results of risk assesment through risk matrix, some parameters and probability density functions, which include characteristics of military supplies, are selected and Risk matrix is modelled based on that. Results: Results show that a proposed method can evaluate objectively risk level through the stochastic modelling and provide well-balanced risk assessments by categorizing into 3 levels such as high, middle and low level risk. Conclusion: A current risk assessment method includes substantial subjectivity of risk assessment and as a problem about military supplies comes up, we can not show any appropriate evidences for decision of risk assessment. We propose an objective scheme employing stochastic modelling with parameters and probability density functions.

• Nuclear Engineering and Technology
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• v.50 no.8
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• pp.1199-1209
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• 2018

After the Fukushima-Daiichi accident in 2011, the multi-unit risk, i.e., the risk due to several nuclear power plants (NPPs) in a site has become an important issue in several countries such as Korea, Canada, and China. However, the multi-unit risk has been discussed for a long time in the nuclear community before the Fukushima-Daiichi nuclear accident occurred. The regulatory authorities around the world and the international organizations had proposed requirements or guidelines to reduce the multi-unit risk. The concerns regarding the multi-unit risk can be summarized in the following three questions: How much the accident of an NPP in a site affects the safety of other NPPs in the same site? What is the total risk of a site with many NPPs? Will the risk of the simultaneous accidents at several NPPs in a site such as the Fukushima Daiichi accident be low enough? The multi-unit risk assessment (MURA) in an integrated framework is a practical approach to obtain the answers for the above questions. Even though there were few studies to assess the multi-unit risk before the Fukushima-Daiichi nuclear accident, there are still several issues to be resolved to perform the complete MURA. This article aims to provide an overview of the multi-unit risk issues and its assessment. We discuss the several critical issues in the current MURA to get useful insights regarding the multi-unit risk with the current state art of probabilistic safety assessment (PSA) technologies. Also, the qualitative answers for the above questions are addressed.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.839-850
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• 2021

Risk-adjusted return is believed to be one of the optimal parameters to determine an optimum portfolio. A risk-adjusted return is a calculation of the profit or potential profit from an investment that takes into account the degree of risk that must be accepted to achieve it. This paper presents a new procedure in portfolio selection and utilizes these results to optimize the risk level of risk-adjusted Islamic stock portfolios. It deals with the weekly close price of active issuers listed on Jakarta Islamic Index Indonesia for a certain time interval. Overall, this paper highlights portfolio selection, which includes determining the number of stocks, grouping the issuers via technical analysis, and selecting the best risk-adjusted return of portfolios. The nominated portfolio is modeled using Quadratic Programming (QP). The result of this study shows that the portfolio built using the lowest Value at Risk (VaR) outperforms the market proxy on a risk-adjusted basis of M-squared and was chosen as the best portfolio that can be optimized using QP with a minimum risk of 2.86%. The portfolio with the lowest beta, on the other hand, will produce a minimum risk that is nearly 60% lower than the optimal risk-adjusted return portfolio. The results of QP are well verified by a heuristic optimizer of fmincon.

• Safety and Health at Work
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• v.1 no.1
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• pp.11-18
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• 2010

In the UK, a person or organisation that creates risk is required to manage and control that risk so that it is reduced 'So Far As Is Reasonably Practicable (SFAIRP).' How the risk is managed is to be determined by those who create the risk. They have a duty to demonstrate that they have taken action to ensure all risk is reduced SFAIRP and must have documentary evidence, for example a risk assessment or safety case, to prove that they manage the risks their activities create. The UK Health and Safety Executive (HSE) does not tell organisations how to manage the risks they create but does inspect the quality of risk identification and management. This paper gives a brief overview of where responsibility for occupational health and safety lies in the UK, and how risk should be managed through risk assessment. The focus of the paper is three recent major UK incidents, all involving fatalities, and all of which were wholly avoidable if risks had been properly assessed and managed. The paper concludes with an analysis of the common failings of risk assessments and key actions for improvement.

• Journal of the Korean Home Economics Association
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• v.42 no.10 s.200
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• pp.11-22
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• 2004

The purpose of this study was to examine the structure of financial risk components of households. The financial risk of households was assumed to be composed of risk knowledge, risk attitude and risk management behavior. For this study, a questionnaire was developed and distributed to 700 households in Seoul and Kwangju, and there were 495 responses with usable data. The findings showed that income stability had a positive relationship with the level of risk knowledge and risk attitude. Income stability, household debt, age of the youngest child and risk knowledge were found to have direct effects on risky vs. non-risky asset ratio. Income stability, savings, age of the youngest child and risk knowledge also had significant effects on the number of risky assets owned by households. Risk knowledge was the most important determinant of risk management behavior.