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The aim of this paper is to identify the risks that need to be addressed when holding fine art, determine which are perceived as being the most important, and whether the risk perception is influenced by demographic variables such as age, educational background, and field of occupation. To identify the risks and evaluate the risk perception, we used a purposely designed questionnaire and sent it via various sources of communication systems and applications to individuals knowledgeable on fine arts. Findings revealed that, generally, art deterioration, art fraud, and art theft are the three main highlighted risks, with art deterioration considered in the high-risk range. In terms of risk perception, forgery is the biggest concern. On the other hand, considerations of the investment value of art lessened perceived risk exposure. Furthermore, the study has shown that certain risk perceptions were influenced by the participants’ demographic variables. Both the identified risks and risk perception considerations analyzed within this study provide us with insights as to what needs to be considered when offering fine art insurance, particularly when it comes to which risks that are perceived as being the most pressing by potential policyholders, and how these perceptions vary according to individual demographics variables as noted above.
Luke Pavia; Simon Grima; Inna Romanova; Jonathan Spiteri. Fine Art Insurance Policies and Risk Perceptions: The Case of Malta. Journal of Risk and Financial Management 2021, 14, 66 .
AMA StyleLuke Pavia, Simon Grima, Inna Romanova, Jonathan Spiteri. Fine Art Insurance Policies and Risk Perceptions: The Case of Malta. Journal of Risk and Financial Management. 2021; 14 (2):66.
Chicago/Turabian StyleLuke Pavia; Simon Grima; Inna Romanova; Jonathan Spiteri. 2021. "Fine Art Insurance Policies and Risk Perceptions: The Case of Malta." Journal of Risk and Financial Management 14, no. 2: 66.
PurposeThe aim of this paper is to quantify the impact of transboundary air pollutants, particularly those related to urban traffic, on health outcomes. The importance of focusing on the health implications of transboundary pollution is due to the fact that these emissions originate from another jurisdiction, thus constituting international negative externalities. Thus, by isolating and quantifying the impact of these transboundary air pollutants on domestic health outcomes, the authors can understand more clearly the extent of these externalities, identify their ramifications for health and emphasise the importance of cross-country cooperation in the fight against air pollution.Design/methodology/approachThe authors employ panel data regression analysis to look at the relationship between emissions of transboundary air pollution and mortality rates from various respiratory diseases among a sample of 40 European countries, over the period 2003–2014. In turn, the authors use annual data on transboundary emissions of sulphur oxides (SOx), nitrogen oxides (NOx) and fine particulate matter (PM2.5), together with detailed data on the per capita incidence of various respiratory diseases, including lung cancer, asthma and chronic obstructive pulmonary disease (COPD). The authors consider a number of different regression equation specifications and control for potential confounders like the quality of healthcare and economic prosperity within each country.FindingsThe results show that transboundary emissions of PM2.5 are positively and significantly related to mortality rates from asthma in our sample of countries. Quantitatively, a 10% increase in PM2.5 transboundary emissions per capita from neighbouring countries is associated with a 1.4% increase in the asthma mortality rate within the recipient country or roughly 200 deaths by asthma per year across our sample.Originality/valueThese findings have important policy implications for cross-country cooperation and regulation in the field of pollution abatement and control, particularly since all the countries under consideration form a part of the UN's Convention on Long-Range Transboundary Air Pollution (CLRTAP), a transnational cooperative agreement aimed at curtailing such pollutants on an international level.
Jonathan Spiteri; Philip Von Brockdorff. Transboundary air pollution and respiratory disease mortality: evidence from European countries. Journal of Economic Studies 2020, ahead-of-p, 1 .
AMA StyleJonathan Spiteri, Philip Von Brockdorff. Transboundary air pollution and respiratory disease mortality: evidence from European countries. Journal of Economic Studies. 2020; ahead-of-p (ahead-of-p):1.
Chicago/Turabian StyleJonathan Spiteri; Philip Von Brockdorff. 2020. "Transboundary air pollution and respiratory disease mortality: evidence from European countries." Journal of Economic Studies ahead-of-p, no. ahead-of-p: 1.
In this study, we explore the emerging derisking phenomenon by identifying and analysing the main factors that are affected by, and the implications of, the derisking process by focusing on the key drivers and implications of derisking specific to Malta. To do this, we carried out 32 interviews with individuals who have a good or excellent level of expertise in derisking and administered a survey, completed by 296 participants who were filtered to ensure their level of expertise, resulting in 285 valid participant surveys. In total, between the interviews and the survey, we had 317 valid participants. Findings showed that to maximise the effectiveness of derisking, one needs to find the right balance of adequately managing risks without extinguishing business needs. This implies a need for the regulations to be balanced and proportionate. This study is a relevant contributor to future derisking to be conducted in Malta and serves as a benchmark for further studies. Moreover, this research project accentuates the need for increased awareness, knowledge and expertise of derisking in Malta. Consequently, the provision of education to professionals is important so that such professionals are able to keep abreast with all the latest developments regarding derisking and AML/CFT (antimoney laundering and combatting the financing of terrorism).
Simon Grima; Peter J. Baldacchino; Jeremy Mercieca Abela; Jonathan V. Spiteri. The Implications of Derisking: The Case of Malta, a Small EU State. Journal of Risk and Financial Management 2020, 13, 216 .
AMA StyleSimon Grima, Peter J. Baldacchino, Jeremy Mercieca Abela, Jonathan V. Spiteri. The Implications of Derisking: The Case of Malta, a Small EU State. Journal of Risk and Financial Management. 2020; 13 (9):216.
Chicago/Turabian StyleSimon Grima; Peter J. Baldacchino; Jeremy Mercieca Abela; Jonathan V. Spiteri. 2020. "The Implications of Derisking: The Case of Malta, a Small EU State." Journal of Risk and Financial Management 13, no. 9: 216.
The insurance industry plays a key role in any modern economy. Blockchain technology promises to completely revolutionise the industry, with several bold claims made in terms of facilitating and speeding up claims settlements and improving fraud management. In this paper, we examine the factors that may influence the extent of blockchain proliferation and penetration within the insurance industry. We adopt the STEEP framework to analyse the key social, technological, environmental, economic and political/legal issues that may impact the insurance industry’s openness or otherwise to blockchain, drawing on a diverse, multi-disciplinary literature. We supplement this with data drawn from 565 European respondents to a survey on blockchain use within the insurance industry. The results emphasise the need for the industry to properly understand and communicate how blockchain can be implemented across different insurance tasks in order to obtain a more tangible view of its benefits for staff, management and customers alike.
Simon Grima; Jonathan Spiteri; Inna Romānova. A STEEP framework analysis of the key factors impacting the use of blockchain technology in the insurance industry. The Geneva Papers on Risk and Insurance - Issues and Practice 2020, 45, 398 -425.
AMA StyleSimon Grima, Jonathan Spiteri, Inna Romānova. A STEEP framework analysis of the key factors impacting the use of blockchain technology in the insurance industry. The Geneva Papers on Risk and Insurance - Issues and Practice. 2020; 45 (3):398-425.
Chicago/Turabian StyleSimon Grima; Jonathan Spiteri; Inna Romānova. 2020. "A STEEP framework analysis of the key factors impacting the use of blockchain technology in the insurance industry." The Geneva Papers on Risk and Insurance - Issues and Practice 45, no. 3: 398-425.
Purpose – In this article we lay out the change management practices adopted by financial firms in small states within the Eurozone. We determine whether these organisations have the ability to identify triggers for change (Red Flags) and subject them to eight thematic elements to understand whether management practices can continue to exist and support operational environments, even when unexpected circumstances affect their day to day operations and processes. In doing this we examine the extent to which the eight thematic elements from the model designed by Dalli Gonzi, (2019) (The Dali Model) can assist organisations in risk identification and business continuity planning. Design/methodology/approach – A self-administered questionnaire purposely designed for this study was administered to personnel working in internal controls within financial institutions of small Eurozone states. The participants were asked to grade statements using a 5-point Likert scale, ‘1’ being ‘totally disagree’ and ‘5’ being totally agree’ to the statement posed under the thematic elements forming the basis of the Dali Model. Findings – Factor analysis provided support for the eight hypothesised dimensions of the decision-making model: connection, capacity, governance, network, policy, training, process improvement, standards. Originality/value – The study provides a better understanding and support of “best practice” in change management through an understanding and assessment of the eight factors that are the basis of this model. It addresses practical recommendations to ensure application to a wider frame of use.
Rebecca Dalli Gonzi; Simon Grima; Murat Kizilkaya; Jonathan Spiteri. The Dali Model in Risk Management Practice: The Case on Financial Services Firms. 2019, 1 .
AMA StyleRebecca Dalli Gonzi, Simon Grima, Murat Kizilkaya, Jonathan Spiteri. The Dali Model in Risk Management Practice: The Case on Financial Services Firms. . 2019; ():1.
Chicago/Turabian StyleRebecca Dalli Gonzi; Simon Grima; Murat Kizilkaya; Jonathan Spiteri. 2019. "The Dali Model in Risk Management Practice: The Case on Financial Services Firms." , no. : 1.
Ibish Mazreku; Fisnik Morina; Valdrin Misiri; Jonathan; Simon Grima. Exploring the Liquidity Risk Factors in the Balkan Region Banking System. EUROPEAN RESEARCH STUDIES JOURNAL 2019, XXII, 91 -102.
AMA StyleIbish Mazreku, Fisnik Morina, Valdrin Misiri, Jonathan, Simon Grima. Exploring the Liquidity Risk Factors in the Balkan Region Banking System. EUROPEAN RESEARCH STUDIES JOURNAL. 2019; XXII (1):91-102.
Chicago/Turabian StyleIbish Mazreku; Fisnik Morina; Valdrin Misiri; Jonathan; Simon Grima. 2019. "Exploring the Liquidity Risk Factors in the Balkan Region Banking System." EUROPEAN RESEARCH STUDIES JOURNAL XXII, no. 1: 91-102.
The impact of economic growth on health outcomes has generated various conflicting results in recent years, particularly with the emergence of cardiovascular disease as one of the most salient global health issues. This paper looks at the relationship between economic development and health outcomes. We first estimate an empirical model using data on annual cardiovascular disease mortality in a panel of 27 European countries, over the period 2003 to 2014, together with per capita GDP levels in each country. We also include a number of additional determinants of health outcomes as prescribed by the literature, including various socio-economic, lifestyle and contextual variables. The results show that there is a statistically-significant inverted U-shaped relationship, whereby as income increases mortality rates first rise, before declining at subsequent levels of development. This trajectory persists even after the inclusion of the other determinants of health, as well as other robustness checks. We then seek to explain the persistence of the inverted U-shaped income-mortality relationship using a microeconomic model of consumer choice, with our findings suggesting that this relationship is consistent with a scenario of increasing returns to scale from healthcare investment. The results emphasise the importance of investment in the latest healthcare technologies and continued improvements to public healthcare systems, particularly within developing countries, in conjunction with efforts to boost economic growth.
Jonathan Spiteri; Philip von Brockdorff. Economic development and health outcomes: Evidence from cardiovascular disease mortality in Europe. Social Science & Medicine 2019, 224, 37 -44.
AMA StyleJonathan Spiteri, Philip von Brockdorff. Economic development and health outcomes: Evidence from cardiovascular disease mortality in Europe. Social Science & Medicine. 2019; 224 ():37-44.
Chicago/Turabian StyleJonathan Spiteri; Philip von Brockdorff. 2019. "Economic development and health outcomes: Evidence from cardiovascular disease mortality in Europe." Social Science & Medicine 224, no. : 37-44.
Simon Grima; Alan Grima; Eleftherios Thalassinos; Sharon Seychell; Jonathan. A Study of the Determinants of Sports Participation by Maltese Nationals. EUROPEAN RESEARCH STUDIES JOURNAL 2018, XXI, 110 -133.
AMA StyleSimon Grima, Alan Grima, Eleftherios Thalassinos, Sharon Seychell, Jonathan. A Study of the Determinants of Sports Participation by Maltese Nationals. EUROPEAN RESEARCH STUDIES JOURNAL. 2018; XXI (2):110-133.
Chicago/Turabian StyleSimon Grima; Alan Grima; Eleftherios Thalassinos; Sharon Seychell; Jonathan. 2018. "A Study of the Determinants of Sports Participation by Maltese Nationals." EUROPEAN RESEARCH STUDIES JOURNAL XXI, no. 2: 110-133.
Ibish Mazreku; Fisnik Morina; Valdrin Misiri; Jonathan; Simon Grima. Determinants of the Level of Non-Performing Loans in Commercial Banks of Transition Countries. EUROPEAN RESEARCH STUDIES JOURNAL 2018, XXI, 3 -13.
AMA StyleIbish Mazreku, Fisnik Morina, Valdrin Misiri, Jonathan, Simon Grima. Determinants of the Level of Non-Performing Loans in Commercial Banks of Transition Countries. EUROPEAN RESEARCH STUDIES JOURNAL. 2018; XXI (3):3-13.
Chicago/Turabian StyleIbish Mazreku; Fisnik Morina; Valdrin Misiri; Jonathan; Simon Grima. 2018. "Determinants of the Level of Non-Performing Loans in Commercial Banks of Transition Countries." EUROPEAN RESEARCH STUDIES JOURNAL XXI, no. 3: 3-13.