Corporate Risk Strategic Management and Probabilistic Analysis Related to Environmental Liabilities: A Case Study

Environmental stewardship is one of the main indicators of corporate performance and reputation among investors today. However, historical operational practices and accidents have created significant environmental liabilities in the industrial sector, and now require significant investments for appropriate management and resolution. A strategic approach is imperative to assure that company’s financial resources are effectively allocated, and shareholders’ interests are protected. In addition, these liabilities must be appropriately and continuously reported, which require the use of robust forecasting techniques such as Monte Carlo Simulation. The present study results demonstrate that under an optimized strategic approach, liability management costs may be reduced in approximately 50%. In addition, the financial forecast under the selected approach may support appropriate reporting of company’s liabilities.

A Study of Liabilities Scale in Telecommunication Enterprises

The paper analyzes the benefit and risk of liabilities operation in telecom enterprises and the advantages of internal and external conditions in liabilities operation. The quantitative model of liabilities scale is studied by analyzing the factors that act on the liabilities scale.

Determination of Liability for Violation of “Sexual Autonomy” and Compensation for Mental Damages

At the legislative level in China,there has been insufficient theoretical preparation to explicitly include“sexual autonomy”within the scope of general personality rights.In handling the increasing number of disputes related to violations of“sexual autonomy,”judicial biases have emerged during the trial process when courts determine the attribute of the right to“sexual autonomy.”This situation necessitates a clear legal analysis of the concept and attributes of“sexual autonomy”to establish its essential attribute as a personality right,and,from the perspective of legal doctrine,enable the justification of the right to“sexual autonomy”as either a general personality right or other personality interests,thereby providing theoretical support for courts to“adjudicate according to law.”By delineating and categorizing instances of violations of“sexual autonomy,”the constitutive elements and fundamental characteristics of such violations can be clarified.By examining the legal norms governing civil litigation and civil litigation associated with criminal cases concerning violations of“sexual autonomy,”the responsibility determination,remedies,and existing regulatory loopholes regarding violations of“sexual autonomy,”especially in cases involving both criminal and civil matters,can be defined.Based on this foundation,the legal basis,determination mechanism,and compensation standards for claiming compensation for mental damages resulting from violations of“sexual autonomy”can be elucidated.

The Dynamic System Theory of Legal Protection for Personal Information Rights Infringement

The advent of the big data era has presented unprecedented challenges to remedies for personal information infringement in areas such as damage assessment,proof of causation,determination of illegality,fault assessment,and liability.Traditional tort law is unable to provide a robust response for these challenges,which severely hinders human rights protection in the digital society.The dynamic system theory represents a third path between fixed constitutive elements and general clauses.It both overcomes the rigidity of the“allor-nothing”legal effect evaluation mechanism of the“element-effect”model and avoids the uncertainty of the general clause model.It can effectively enhance the flexibility of the legal system in responding to social changes.In light of this,it is necessary to construct a dynamic foundational evaluation framework for personal information infringement under the guidance of the dynamic system theory.By relying on the dynamic interplay effect of various foundational evaluation elements,this framework can achieve a flexible evaluation of the constitutive elements of liability and the legal effects of liability for personal information infringement.Through this approach,the crisis of personal information infringement in the era of big data can be mitigated,and the realization of personal information rights as digital human rights can be promoted.

Accounting for liabilities related to ecosystem degradation

Introduction:A growing belief that accounting can and should play a role in halting and reversing degradation of ecosystems is leading to conceptual and methodological develop-ments that recognize the cost of degradation,attribute the cost to the entities responsible and assure that entities can't ignore the economic burden associated with it.Outcome:Demonstration accounts prepared around a scenario where agricultural use of land includes an obligation to maintain ecosystem condition.The accounts are compliant and coherent with both the intermational accounting standards for individual entities and the United Nations'System of Environmental-Economic Accounting.Discussion:Accounting for labilities for ecosystem degradation demonstrates that,where the liability reflects the lost economic value of the ecosystem,the accounts communicate a reduction in the total net worth of the economy and a redistribution of net worth away from the party responsible for the degradation.The inclusion of both libilties for degradation and the cost of degradation does not lead to double-counting the economic impact of degradation.Conclusion:Accounting principles and frameworks encourage greater accountability for entities responsible for ecosystem condition by providing greater visibility of the economic cost to individual entities,governments and nations.

Risk Assessment of an Environmental Liability in the Commercialization of Hydrocarbons-A Secondary Publication

The risk analysis evaluates the probability of occurrence with the impact of said risks.In the hydrocarbon sector,an environmental liability is an improperly abandoned facility,soil contaminated by spills or others.The objective of this work is to define a risk management plan.The characterization of the residue and the area was carried out.Hazardous events were identified:overflow spill,soil contamination by infiltration,as well as radiant heat and suffocating and toxic fumes from a fire.The matrix method was applied considering the probability of occurrence against vulnerability.The danger of infiltration implied a high level of risk.The risk management plan was drawn up,its main action being the liquidation of the pool and the sanitation of the area.

Chinese FDI in the French and Australian Wine Industries： Liabilities of Foreignness and Country of Origin Effects

This paper explores the recent evolution of Chinese investment in the wine industries in the Bordeaux region of France and Western Australia （WA）. The study identifies variations in the nature of the investments undertaken, which are not always consistent with existing theory. We explore how these differences impact on the liability of foreignness （LOF） experienced （Eden and Miller, 2004; Zaheer, 1995）. We find evidence of all three of the categories of hazards identified by Eden and Miller （2004）, with unfamiliarity being particularly significant, especially for wholly owned investments. We postulate that differences in context between home and host countries are a key factor explaining both the observed difficulties and the differences in experiences. The findings of our work on LOF, in terms of its nature and mitigating strategies, resonate well with existing theory, although we also find evidence of a Country of Origin （COO） effect, both in terms of Liability of Origin （LOR） and Assets of Foreigrmess （AOF）. The variations in entry mode and LOF, however, are less consistent with existing research and pose questions in relation to the interaction between the home and host contexts, company strategy and LOF.

企业雇主责任的性质与雇员保护

“vicarious liability”是指“间接责任”而非“替代责任”,法律继受过程中的误译导致学界对雇主责任的性质认识模糊。在企业雇主责任中,雇主要为雇员的侵权行为承担责任,受害人也可以基于一般侵权条款或特殊侵权的规定请求雇员承担侵权责任。严格责任是企业雇主责任的发展趋势,这与企业雇主责任是自己责任并不矛盾。《民法典》规定的企业雇主责任应当解释为一种自己责任、危险责任。为了保护经济上处于弱势地位的雇员,除了肯定雇员对雇主享有逆求偿权外,还可以在企业雇主责任的框架下建构雇员外部责任豁免请求权制度,这体现了民法与劳动法的协同作用。

Local Government Debt Management Solutions

Two rounds of leveraging-up have led to a high debt ratio in the Chinese economy, triggered liquidity mismatch and increased systemic financial risks. The key causes of local government liabilities are soft budget constraints and non-market-based factor allocation. Currently, the risks of local government liabilities are generally controllable. This paper concludes that the long-term solution to managing local government liabilities is to enhance budget constraint and institutional assurance and proposes countermeasures in the reform of urban construction investment and ftnancing mechanisms.

＂Principal Components＂ for the Calculation of the Best Estimate Liability of Future Discretionary Benefits under Solvency II

The core of the presentation that I propose treats about the application of principal component analysis for the estimation of the future earnings of the Segregated Funds. The Segregated Funds are the pools of assets which have been using in the Italian Insurance Market since mid 80＇s for managing the ＂with profit＂ business, also known as business with ＂discretionary participation feature＂ according to IFRS4 since the income attributable to the policyholders is composed by the net realised gains less a fee and by a minimum guarantee, if any. The discretion of the Management of the Entity lays on the decision on whether and when to realise both the financial gains and the financial losses of the underlying investments. This strategy is tied by the need to manage an appropriate ALM, from the rules included in the local legislation as well as by the policy about the solvency margin （for example a minimum solvency ratio to fulfil that is conditional upon the value of income attributed that year）. The fee can not be changed, i.e., is not discretionary, the minimum granted could be fixed on annual basis-sometimes paid on cash recurrently-or could be promised only at expiration or sometimes promised at expiration or in advance only for death and disability. In case of years so adverse that the Entity is not able to avoid earnings too low, sometimes the entity delivers an additional bonus, in order to compensate their policyholders, which is based above a full discretion. Principal components are used in finance as well as in other fields such as genetic. You can see some of these applications in two of the references advised below. The purposes of the technique of principal components are （1） to increase objectivity of results and their verifiability by third parties such as auditors, （2） make speeder the time spent for the analytical calculations （i.e., runs of the actuarial models） and （3） to render the relationship between the asset composition and the their earnings effectively used for the best estimate liabilities through their contribution in forecasting future cash flows.

Research on Product Quality Law System

Product quality law refers to the combination of various economical relationships and legal norms in the process of production,circulation and administration.It combines the operation of the market with the state supervision.Studying on the legislation style will be of theoretical and practical significance.

Missing Dollars： Significant Statistical Omissions of Global Monetary Aggregates

The choice of liquidity indicators is a key issue in global liquidity management. Money supply statistics such as M2 are no longer able to reflect the true scale of global liquidity due to the effect of financial globalization. External bank liabilities, as an important indicator to measure global liquidity conditions, are omitted by many countries in their broad money statistics. Given that financial institutions＇ external liabilities serve as a major source of fiscal shock as well as an important cause for the accumulation of monetary risk, it is imperative to include these external liabilities into the global liquidity indicator system.

Analysis of Solvency of A-Share Listed Companies in China’s Real Estate Industry

The real estate industry is a capital-intensive industry and capital has become a particular concern for real estate enterprises.For a long time,China’s real estate enterprises rely on high-leverage development and carry out high-debt and high-risk operations.The solvency of real estate enterprises has been the focus of stakeholders’attention.In August 2020,China’s regulatory authorities introduced new financing regulations for real estate enterprises.They set up“three red lines,”which brought real estate enterprises’solvency into focus once again.This article takes A-share listed companies in China’s real estate industry as an example,analyzes and evaluates its debt solvency,and gives suggestions based on new policies and regulations,hoping to provide specific references to the enterpriser’s manager and external decision-makers.

Machine learning methods for rockburst prediction-state-of-the-art review

One of the most serious mining disasters in underground mines is rockburst phenomena.They can lead to injuries and even fatalities as well as damage to underground openings and mining equipment.This has forced many researchers to investigate alternative methods to predict the potential for rockburst occurrence.However,due to the highly complex relation between geological,mechanical and geometric parameters of the mining environment,the traditional mechanics-based prediction methods do not always yield precise results.With the emergence of machine learning methods,a breakthrough in the prediction of rockburst occurrence has become possible in recent years.This paper presents a state-ofthe-art review of various applications of machine learning methods for the prediction of rockburst potential.First,existing rockburst prediction methods are introduced,and the limitations of such methods are highlighted.A brief overview of typical machine learning methods and their main features as predictive tools is then presented.The current applications of machine learning models in rockburst prediction are surveyed,with related mechanisms,technical details and performance analysis.

Spontaneous combustion liability of coal and coal-shale: a review of prediction methods

This study presents a review of the various methods to predict the spontaneous combustion liability of coal and coal-shale. The relative propensity of coal to undergo self-heating can be established by different methods. These methods are well established in their usage, but the fact that no particular test method has become a standard to predict the spontaneous combustion liability indicates that doubt still exists as to the validity of all of them. The underlying principle of all the tests is that the more readily the coal undergoes exothermic oxidation, the more liable it is to self-heat. Comprehensive studies that centres on the international position on research being conducted by academics, different research institutes and industries on spontaneous combustion of coal and coal mine fires were evaluated. Relationships between the geochemical analysis (proximate and ultimate analysis, forms of sulphur, petrographic properties, X-ray diffraction and X-ray fluorescence) and spontaneous combustion testing methods (numerical and experimental approaches) used to predict the spontaneous combustion liability of coal were reviewed. The combination of these tests provides a better understanding of the mechanism that controls the spontaneous combustion phenomena. However, irrespective of the extensive studies that have been conducted over time, spontaneous combustion is still a major problem in the coal value chain.

Rock burst risk evaluation based on equivalent surrounding rock strength

On-site investigations consistently show that the rock burst inherent to coal seams varies greatly with coal seam thickness.In this study,impact factors related to coal seam thickness and surrounding rock strength were analyzed and a corresponding rock burst risk assessment method was constructed.The model reflects the influence of coal seam thickness on the stress distribution of surrounding rock at the roadway.Based on the roadway excavation range,a stress distribution model of surrounding roadway rock is established and the influence of coal seam thickness on rock burst risk is analyzed accordingly.The proposed rock burst risk assessment method is based on the equivalent surrounding rock strength and coal seam bursting liability.The proposed method was tested in a 3500 mining area to find that it yields rock burst risk assessment results as per coal seam thickness that are in accordance with real-world conditions.The results presented here suggest that coal seam thickness is a crucial factor in effective rock burst risk assessment.

Comparative analysis of coal and coal-shale intrinsic factors affecting spontaneous combustion

Coal and coal-shales tend to undergo spontaneous combustion under favourable atmospheric conditions. Spontaneous combustion liability index and intrinsic properties of coals and coal-shales varies between （above and below） coal seams. The spontaneous combustion liability index （obtained from the Wits-Ehac Index） and intrinsic properties （obtained from proximate, ultimate, and petrographic analysis） of fourteen samples representative of in situ coal （bituminous） and fourteen coal-shales obtained in Witbank coalfield, South Africa were experimentally studied. Comparative analysis of the relationships between the spontaneous combustion liability index and intrinsic properties of coals and coalshales were established to evaluate their effects on self-heating potential. The intrinsic properties show linear relationship with spontaneous combustion liability and therefore, identifies the factors affecting spontaneous combustion of these materials. The influence of coal-shales intrinsic properties towards spontaneous combustion liability shows higher correlation coefficients than the coals. Both coals and coal-shales show inertinite maceral as major constituents than the vitrinite and liptinite macerals, hence the reactivity of inertinite macerals may show greater influence on spontaneous combustion liability. A definite positive or negative trends exists between the intrinsic properties and spontaneous combustion liability index. This research is part of a larger project which is considering the influence of intrinsic properties of coals and coal-shales on spontaneous combustion liability.

Proposing a novel comprehensive evaluation model for the coal burst liability in underground coal mines considering uncertainty factors

Coal burst is a severe hazard that can result in fatalities and damage of facilities in underground coal mines.To address this issue,a robust unascertained combination model is proposed to study the coal burst hazard based on an updated database.Four assessment indexes are used in the model,which are the dynamic failure duration(DT),elastic energy index(WET),impact energy index(KE)and uniaxial compressive strength(RC).Four membership functions,including linear(L),parabolic(P),S and Weibull(W)functions,are proposed to measure the uncertainty level of individual index.The corresponding weights are determined through information entropy(EN),analysis hierarchy process(AHP)and synthetic weights(CW).Simultaneously,the classification criteria,including unascertained cluster(UC)and credible identification principle(CIP),are analyzed.The combination algorithm,consisting of P function,CW and CIP(P-CW-CIP),is selected as the optimal classification model in function of theory analysis and to train the samples.Ultimately,the established ensemble model is further validated through test samples with 100%accuracy.The results reveal that the hybrid model has a great potential in the coal burst hazard evaluation in underground coal mines.

Towards establishing practical multi-hazard bridge design limit states

In the U.S., the current Load and Resistance Factor Design （LRFD） Specifications for highway bridges is a reliability-based formulation that considers failure probabilities of bridge components due to the actions of typical dead load and frequent vehicular loads. Various extreme load effects, such as earthquake and vessel collision, are on the same reliability-based platform. Since these extreme loads are time variables, combining them with not considered frequent. non- extreme loads is a significant challenge. The number of design limit state equations based on these failure probabilities can be unrealistically large and unnecessary from the view point of practical applications. Based on the opinion of AASHTO State Bridge Engineers, many load combinations are insignificant in their states. This paper describes the formulation of a criterion to include only the necessary load combinations to establish the design limit states. This criterion is established by examining the total failure probabilities for all possible time-invariant and time varying load combinations and breaking them down into partial terms. Then, important load combinations can be readily determined quantitatively,

Analysis of spontaneous combustion liability indices and coal recording standards/basis

The characterization of the physical and chemical properties of coal on a standard provides an understanding of its characteristics towards spontaneous combustion.The trend of linear relationships between coal recording standards(%air-dried(ad),%dry(db)and%dry ash free(daf)basis)of 30 selected coal samples from the Witbank coalfields and spontaneous combustion liability indices were evaluated.The spontaneous combustion liability indices of these samples were evaluated by crossing point temperature(XPT),Stage II Slope,FCC(Feng,Chakravorty,Cochrane)and the Wits-Ehac tests,while the coal properties were determined from the proximate and ultimate analyses.The results obtained from these coal properties were related to different liability indices to develop trends of linear relationships using regression analysis.The ad basis indicated higher correlation coefficients than the db and daf basis for the XPT and FCC index,while the daf showed higher correlation coefficients than the ad and db basis for the Wits-Ehac index.It was found that the trend of linear relationships of these coal properties differs from one liability index to the next.The XPTs showed a better trend followed by the Stage II Slope on the coal properties among the spontaneous combustion liability indices evaluated.