This chapter provides an overview of the main sections, as well as presented the goals, objectives and relevance to the overall context of a scientific monograph.
Many semantic text analysis problems employ string-to-text relevance measures. Research paper annotation problem is no exception. In general, research papers are annotated according to a system of topics, organized as a taxonomy, a hierarchy of topics (or concepts). For example the papers, published in journals of the international Association of Computing Machinery (ACM), the most influential organization in the Computer Science world, are annotated according to the Computing Classification System taxonomy (ACM CCS). String-to-text relevance measures should be used to automate the research paper annotation procedure since taxonomy topics are strings ant research papers or any of their constituents are texts. A relevance measure maps a string–text pair to a real number. The meaning of the mapping depends on the relevance model under consideration. Under any model, the higher the relevance value, the stronger the association between the string and the text. This paper explores the use of phrase-to-text relevance measures to annotate research papers in Computer Science by key phrases taken from the ACM Computing Classification System. Three phrase-to-text relevance measures are experimentally compared in this setting. The measures are: (a) cosine relevance score between conventional vector space representations of the texts coded with tf-idf weighting; (b) a popular characteristic of the probability of “elite” term generation BM25; and (c) a characteristic of the symbol conditional probability averaged over matching fragments in suffix trees representing texts and phrases, CPAMF, introduced by the authors. Our experiment is conducted over a set of texts published in journals of the ACM and manually annotated by their authors using topics from the ACM CCS. Applying any of the relevance measures to an article results in a list of taxonomy topics sorted in the descending order of their relevance values. The results are evaluated by comparing these sorted lists and lists of topics assigned to articles manually. The higher a manually assigned topic is placed in a relevance based sorted list of topics, the more accurate the sorted list is. The accuracy of the computational annotations is scored by using three different scoring functions: a) MAP, b) nDCG, c) Intersection at k, where (a) and (b) are taken from the literature, and (c) is introduced by the authors. It appears, CPAMF outperforms both the cosine measure and BM25 by a wide margin over all three scoring functions.
Within the framework of this work, the phenomenon of short-termism as an obstacle to the creation of a long-term strategy has been studied using the example of the Russian metallurgical industry. Disclosure of factors to strengthen the policy of short-term decisions occurs through the theory of information asymmetry. Speaking particularly about short-run planning horizons, we focused my attention on the topic of short-termism (investment myopic) and consequently information asymmetry as a cause of short-termism emergence. Further, we described instruments, which aimed to mitigate the outcomes of sort-termism negative impact in the light of risk-management theory. In this paper we want to explain how and in what extend do ERM instruments influence on the company’s attitude toward short-term strategy. In other words, we consider that information asymmetry existing between managers and investors creates short-termism. This fact means the obstacle to the company’s long-term value formation emergence.
The author of the article analyzes the system of intellectual capacity of the country in the context of the current state of crime and developing of socio-economic environment in the country. He also shows the intellectual property's place in it, addresses the role of criminal law in the protection of all the elements of this capacity and property, makes suggestions for improving legislation, including its criminal and legal component. A particular emphasis the author placed on strengthening the relevance of the criminal law protection of rights and legitimate interests of the representatives of creative professions.
Short termism is one of the most relevant problems of corporate governance. Managers of companies have to make a choice between long term and short term decisions. The main reasons provoking the emergence of short-termism are: the high volatility of the economy as a whole, the high level of uncertainty of business development due to systematic risks, the legislatively conditioned necessity of publishing interim financial statements and the desire of business owners to get a return on investment as quickly as possible. We assume that corporate risk management system would contribute to mitigate short-termism problem in particular by examining the impact of corporate risk management on the discount rate. In this paper author provide a methodology of estimation of discount rate, depending on the degree of effectiveness of the risk management. The provided methodology mitigates uncertainty of strategic decisions and allows making long-term decisions. The core of proposal was built under the assumption that stakeholders have their own opinion about sustainability of a company and use a special list of signs, demonstrating the risk management efficiency of a company.
The second part of the scientific monograph contains the results of analyzis the effectiveness of corporate risk management and internal control systems. The scientific literature contains a fairly large number of methods that allow to evaluate the effectiveness of managerial decisions within the company, but most of them are designed to formally assess the functionality of a particular system of risk management in relation to the world wide "best practices". The monograph presents the recommendations on the organization of integrated risk management methodology and assess its effectiveness in accordance with modern trends in decision-making, such as short-termizm focus on short-term business profitability. The theoretical propositions supported by empirical calculations, analytical studies and practical recommendations. The emphasis is on managing business uncertainty, and as a result, growth in the discount rate and the reduction of investment attractiveness as a result of lack of transparency of administrative processes and the lack of clear criteria for evaluating the effectiveness of the processes. This monograph is intended for students, teachers and scientists, researchers, and professionals operating in the field of risk management.
Implementation of risk management practices in the company’s activities has a great impact on the reputation and performance of the company. As a result, the majority of stakeholders are interested in cooperation with the selected company. Predicting the results of cooperation implemented through investment projects efficiency assessment methods, where the main index, demonstrating the attitude to risk analysts, is a discounted rate of return of the project. The purpose of this article is to adjust the discount rate on the business risk level, determined indirectly on the basis of stakeholder expectations. The resulting methodology of calculation of discount rate allows to evaluate the effectiveness of participation in business by the stakeholders and in accordance with their level of risk appetite. Participation of key indicators of business performance as an indirect measure of estimation of efficiency risk management allows to approximate the expectations of stakeholders in relation to the received level. Factor analysis of the indicators included in the rating can be used as an element of management in order to increase the investment attractiveness of the business.
The book contains the results of studies to assess the effectiveness of corporate risk management. This monograph is intended for students, teachers and scientists, researchers, and professionals operating in the field of risk management.