The objective of this article is to discuss the potential of economic analysis as a tool for identification and evaluation of corruption in legislative acts. We propose that corruption be perceived as a risk variable within the legislative process. Therefore we find it appropriate to employ risk analysis methods, used in various fields of economics, for the evaluation of corruption in legislati...

This paper is about client-specific customization of systems that implement an on-line Internet service in the presence of simultaneous client-specific views. The problem is that each client must be able to customize the running system for use in its own context, without impacting the service behavior that is delivered to other clients. To solve this, we propose to customize the system on a per...

Despite the fact that environmental problems have been recognised as legitimate phenomena since the early 1970s, they did not really attract the attention of industrialists and management theorists until the beginning of the 1990s. During the last ten years, industry has been central in shaping a new corporate environmentalism. Now, we argue, it is time to take a critical look at the nature and...

The art of identifying and effectively managing risk in a timely manner has become an integral part of strategic management. Property developers who are unable to identify the scope and consequences of related risks and who consequently fail to introduce efficient mechanisms to manage those risks, clearly jeopardise the stability not only of their investments but also their overall success. The...

The concept of comonotonicity is a useful tool for solving various problems in insurance and financial economics. The credibilistic comonotonicity of fuzzy vector is defined via its comonotonic support. In general case, the properties of comonotonic fuzzy vector are discussed based on the relation between the joint monotone distribution of a fuzzy vector and its marginal monotone distributions....

With the development of the economic globalization, the risks that enterprises faced are increasing. In order to cope with the risks, the enterprise risk management requires the internal audit. As an important part of the internal control, the risk oriented internal audit emerges to monitor the process of the enterprise risk management. So enterprises can control and evaluate the risks more and...

The article examines whether commodity risk is priced in the cross-section of equity returns. Alongside a long-only equally-weighted portfolio of commodity futures, we employ as an alternative commodity risk factor a term structure portfolio that captures the propensity of commodity futures markets to be backwardated or contangoed. Equity-sorted portfolios with greater sensitivities to the two ...