Hong Kong SAR's government faces the dual challenges of volatile revenue and medium term spending pressures arising from a rapidly aging population. Age-related spending pressures raise long-run sustainability concerns, while revenue volatility creates risks to service provision, possibly...

Purpose – The purpose of this research is to study the relationship between the HR control system and organizational results, examining the moderating effect of uncertainty and HR risk behavior. Design/methodology/approach – The study analyzes the relationship between HR control systems and...

Purpose – In this two-part series, this paper seeks to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown quantities in the physical world. Design/methodology/approach – Part 1 applies concepts from quantum physics...

Purpose – To study the effect of Knightian uncertainty – as opposed to statistical estimation error – in the evaluation of value-at-risk (VaR) of financial investments. To develop methods for augmenting existing VaR estimates to account for Knightian uncertainty....

Incorporating managerial flexibility in an innovative R&D project is important, because managers face greater uncertainty in today's competitive and dynamic changing environment. It is essential to bring managerial flexibility into R&D project planning to decrease technical and market risks,...

Purpose – For publicly traded firms, calculating the cost of capital is predicated typically on information from the financial markets. Small businesses do not have the necessary market-based information. As an alternative to traditional proxy approaches, this paper presents a multi-criteria...

Purpose – For publicly traded firms, calculating the cost of capital is predicated typically on information from the financial markets. Small businesses do not have the necessary market-based information. As an alternative to traditional proxy approaches, this paper argues for a multi-criteria...

An optimal maintenance approach is a key support to industrial production in the contemporary process industry. This paper presents a Multiple-Criteria Decision Making (MCDM) methodology for selecting the optimal mix of maintenance approaches – Corrective Maintenance (CM), Time-Based...

We introduce the idea that resampling from past observations in a Markov Chain Monte Carlo sampler can fasten convergence. We prove that proper resampling from the past does not disturb the limit distribution of the algorithm. We illustrate the method with two examples. The first on a Bayesian...