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WSEAS TRANSACTIONS
on BUSINESS and ECONOMICS
Issue 8, Volume 4, August 2007
Print
ISSN: 1109-9526
E-ISSN: 2224-2899 |
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Title of the Paper:
ICT Outsourcing: Inherent Risks, Issues and Challenges
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Authors: Noor
Habibah Arshad, Yap May-Lin, Azlinah Mohamed
Abstract: The Malaysian government
has worked together with non-governmental entities to develop and operate
internal management systems as well as deliver public services to citizens.
Much attention has been given to the computerization of government
ministries and agencies to improve the government’s capacity to carry out
its tasks and cope with the future challenges in order to achieve
performance goals. The aims of this research are to determine the ICT
services that are currently being outsourced and to describe the inherent
risks, issues and challenges in ICT outsourcing in the Malaysian public
sector. The findings from this research showed that network services is the
most common ICT services activity that is being outsourced and that
outsourcers who do not comply with contract has the most influence on ICT
outsourcing inherent risks. The main issue raised in ICT outsourcing is the
inappropriateness of ICT projects being outsourced. Through the findings,
public sector organizations would be able to identify the most common ICT
services outsourced, analyse the inherent risks, and address the issues that
are being raised. In so doing, the potential impact of failure can be
anticipated and dealt with accordingly.
Keywords:
ICT Outsourcing; ICT Services Outsourced; Inherent Risk; Issues in Outsourcing
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Questions, Discussion ...
Title of the Paper: Historical and Prognostic Risk
Measuring Across Stocks and Markets
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Authors:
Elza Jurun, Snježana Pivac and Josip Arnerić
Abstract:
Value at Risk defines the maximum expected loss on an investment over a
specified horizon at a given confidence level. Together with conditional
Value at Risk today is used by many banks and financial institutions as a
key measure for market risk. For any investor on stock market it is very
important to predict possible loss, depending on if he holds "long" or
"short" position. By forecasting stock risk investor can be ensured "a
priori" from estimated market risk, using financial derivatives, i.e.
options, forwards, futures and other instruments. In that sense we find
financial econometrics as the most useful tool for modeling conditional mean
and conditional variance of nonstationary financial time series. Besides the
assumption of normal distributed returns does not represent asymmetry of
information influence, normal distribution also is not the most appropriate
approximation of the real data on the stock market. Using assumption of
heavy tailed distribution, such as Student's t-distribution in GARCH(p,q)
model, it becomes possible to forecast market risk much more precisely. Even
more, using Student's distribution with non-integer degrees of freedom leads
approximation to minimal differences between theoretical and real values.
Such modeling enables time-varying risk forecasting, because the assumption
of constant risk measures between stocks is unrealistic. The basic aim of
this paper is comparative analysis of historic and prognostic risk measures,
taking into account appropriate distribution assumption. The complete
procedure of analysis has been established using real observed data at
Zagreb Stock Exchange. For these purpose daily returns of the most
frequently traded stocks from CROBEX index is used.
Keywords: Theoretical distribution
comparison, non-integer degrees of freedom, heavy-tails, scale and shape
parameters, risk measuring, conditional variance, risk forecasting of stock
returns.
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Questions, Discussion ...
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