Managing the Risks of Risk Management

Castro, Laura M.; Gulías, Víctor M.; Abalde, Carlos; Jorge, J. Santiago

doi:10.3166/jds.17.501-521

Cited by 6 publications

(2 citation statements)

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“…Companies that adopted ERM have significantly reduced the cost of capital, thereby creating value for the organization (Berry-Stölzle & Xu, 2018) and improving the effectiveness of service delivery (Mahama et al, 2020). However, ERM development levels vary according to the characteristics of each company (Mejía et al, 2017;Marsh & RIMS, 2018), and risk management systems are not always flexible enough to model the complexity of the risk management process (Castro et al, 2012).…”

Section: Theoretical Framework Previous Studies and Hypothesis Develo...mentioning

confidence: 99%

Impact Of Risk Governance, Associated Practices and Tools on Enterprise Risk Management: Some Evidence from Colombia

Nuñez

Villanueva

Martins

2022

Finanz. polit. econ

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Enterprise risk management is a discipline that is becoming increasingly necessary due to the changing environment in which companies operate. This paper is based on a research question that propose to hypotheses that question the impact of risk governance and associated practices and tools on ERM development. Hierarchical linear regression models are used to test the hypotheses that suggest a relationship between predictor variables and the ERM criterion variable. A sample of 140 large private companies in Colombia, belonging to different economic sectors, is selected, of which their behaviour and/or organizational performance related to the analysis variables is evaluated. The main results suggest that the risk governance composed of the senior management commitment and the risk management structure has a positive correlation with ERM. Also, it is demonstrating that the practices and tools integrated by the risk maps and the risk treatment measures that are defined, have a positive correlation about the maturity of enterprise risk management. Finally, the study’s, main findings are presented, and their implications are discussed to form the basis for ERM strengthening in emerging markets.

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Section: Theoretical Framework Previous Studies and Hypothesis Develo...mentioning

confidence: 99%

Impact Of Risk Governance, Associated Practices and Tools on Enterprise Risk Management: Some Evidence from Colombia

Nuñez

Villanueva

Martins

2022

Finanz. polit. econ

View full text Add to dashboard Cite

show abstract

“…Another interesting approach to risk management as a process stated in work of Castro et al (2008). While, research by Asenova et al (2014) is devoted to risk management on the state and regional levels.…”

Section: Literature Reviewmentioning

confidence: 99%