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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Main Authors:	Sapiri, Hasimah, Kamil, Anton Abdulbasah, Mat Tahar, Razman
Format:	Article
Language:	English
Published:	World Scientific Publishing Company 2014
Subjects:	QA75 Electronic computers. Computer science
Online Access:	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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Institution:	Universiti Utara Malaysia
Language:	English

id	my.uum.repo.19410
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spelling	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
institution	Universiti Utara Malaysia
building	UUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Utara Malaysia
content_source	UUM Institutionali Repository
url_provider	http://repo.uum.edu.my/
language	English
topic	QA75 Electronic computers. Computer science
spellingShingle	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
description	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
_version_	1644282697837707264

System dynamics approach as a risk management tool in analyzing pension expenditure: The case on Malaysian employees public pension plan

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