System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan
Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk.By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was de...
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2014
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my.uum.repo.194102016-11-14T04:34:28Z http://repo.uum.edu.my/19410/ System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan Sapiri, Hasimah Kamil, Anton Abdulbasah Mat Tahar, Razman QA75 Electronic computers. Computer science Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk.By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was developed.By using a sample of actual data, the proposed model was then validated through behavior validity test and a risk analysis was conducted.Then, risk monitoring was performed through policy evaluation in which the impact of different policy scenarios on pension expenditure was analyzed.Risk management and dynamics simulation approach in analyzing pension expenditure were shown to be useful in evaluating the impact of changes and policy decisions on risk. World Scientific Publishing Company 2014 Article PeerReviewed application/pdf en http://repo.uum.edu.my/19410/1/TSER%2059%205%202014%201-24.pdf Sapiri, Hasimah and Kamil, Anton Abdulbasah and Mat Tahar, Razman (2014) System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan. The Singapore Economic Review, 59 (05). 1450046 1-1450046 24. ISSN 0217-5908 http://doi.org/10.1142/S0217590814500465 doi:10.1142/S0217590814500465 |
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QA75 Electronic computers. Computer science Sapiri, Hasimah Kamil, Anton Abdulbasah Mat Tahar, Razman System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
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Malaysian employees' public pension plan was studied to analyze pension expenditure due to salary risk and demographic risk.By integrating risk management and System Dynamics (SD) approach, the risk factors involved were identified, a causal loop diagram was constructed, and the SD model was developed.By using a sample of actual data, the proposed model was then validated through behavior validity test and a risk analysis was conducted.Then, risk monitoring was performed through policy evaluation in which the impact of different policy scenarios on pension expenditure was analyzed.Risk management and dynamics simulation approach in analyzing pension expenditure were shown to be useful in evaluating the impact of changes and policy decisions on risk. |
format |
Article |
author |
Sapiri, Hasimah Kamil, Anton Abdulbasah Mat Tahar, Razman |
author_facet |
Sapiri, Hasimah Kamil, Anton Abdulbasah Mat Tahar, Razman |
author_sort |
Sapiri, Hasimah |
title |
System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
title_short |
System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
title_full |
System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
title_fullStr |
System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
title_full_unstemmed |
System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan |
title_sort |
system dynamics approach as a risk management tool in analyzing pension expenditure: the case on malaysian employees public pension plan |
publisher |
World Scientific Publishing Company |
publishDate |
2014 |
url |
http://repo.uum.edu.my/19410/1/TSER%2059%205%202014%201-24.pdf http://repo.uum.edu.my/19410/ http://doi.org/10.1142/S0217590814500465 |
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