Organizational resilience as a key property of enterprise risk management in response to novel and severe crisis events

Dahmen, Patrick

doi:10.1111/rmir.12245

Cited by 5 publications

(2 citation statements)

References 108 publications

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“…A firm's risk-taking behavior has received considerable interest from academicians and policymakers because it concerns the financial interests of various individuals and organizations. Managerial risk-taking is essential to corporate decision-making, significantly influencing firm performance and survival (Boubakri et al, 2013;Dahmen, 2023;Hofmann & Scordis, 2018). Torried about risk-taking, with policyholder protection always being the top priority.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

CEO past distress experience and risk‐taking: Evidence from US property–liability insurance firms

Lonare,

Lai,

Han

et al. 2024

Risk Manage Insurance Review

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We investigate the relationship between CEOs' past distress experience and risk‐taking in US property–liability insurance companies. Our evidence shows that CEOs' past distress experience is negatively associated with insurers' risk‐taking behavior, suggesting that CEOs with distress experiences tend to take lower levels of risk in making financial decisions for their firms. The results are robust to using alternative measures of risk‐taking, including value at risk, expected shortfall, volatility of stock return, idiosyncratic volatility, systematic volatility, underwriting risk, and investment risk. Additionally, our results pass a placebo test, and we mitigate endogeneity concerns with the propensity score matching method.

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Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

CEO past distress experience and risk‐taking: Evidence from US property–liability insurance firms

Lonare,

Lai,

Han

et al. 2024

Risk Manage Insurance Review

View full text Add to dashboard Cite

show abstract

“…Organizations typically appoint risk managers who are tasked with scanning the business environment for oncoming threats (Dahmen, 2023). These professionals analyze potential risks and derive solutions to prevent or mitigate the impact of these pitfalls (Cornwell et al, 2023).…”

mentioning

confidence: 99%

A Study on Risk Management in Corporate Business

Saradha Balaji,

Lolakpuri Shreshta,

K. Sujatha

2024

IIJB

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The complexity of today's corporate landscape underscores the importance of robust risk management strategies for organizational resilience and sustainability. This study investigates the methodologies and effectiveness of risk management practices in corporate settings, emphasizing key components that contribute to success. Using a mixed-methods approach, the study surveyed 100 corporate managers and conducted in-depth interviews with 20 senior risk management professionals. Findings indicate that companies with comprehensive risk management frameworks perform significantly better in mitigating risks compared to those with minimal strategies. Key elements identified include proactive risk assessment, continuous monitoring, and integration into corporate culture. Senior management involvement also correlates positively with effective risk management outcomes. Despite recognition of its importance, challenges such as resource constraints, inadequate training, and resistance to change hinder implementation. The study highlights the need for ongoing improvement in risk management practices through enhanced training and greater leadership engagement. It stresses the critical role of structured risk management in corporate sustainability and resilience, advocating for further research into innovative tools and strategies to meet evolving business challenges.

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The socio-aesthetic construction of meaning in digitally mediated environments: a digital sensemaking approach

Brill,

Schnugg,

Stary

2024

AI & Soc

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Sensemaking has recently been identified as a driver of society developments, in particular in the context of designing a reasonable, valuable, and fair life. Since the construction of meaning is a crucial momentum in sensemaking processes, the authors investigate how meaning can be constructed in a sustaining form by utilizing digital means of expression, articulation, sharing of information, and creation of artscience artefacts. The authors report on results of exploring cyber-physical-systems with performative methodologies in the context of sensemaking to identify sensemaking processes of entering digital environments and share meaning-making activities through interaction. The collected data from two artscience studies reveal that activities beyond cognition facilitate sensemaking. Aesthetics and embodiment in performing actions are understood to play a role in sensemaking and subsequently effect on the construction of meaning. To investigate the role of the body and aesthetics in sensemaking in digital environments, we were particularly interested in sensemaking through embodied agency and aesthetic awareness, drawing from kinesthetic awareness of performance artists. In the performative activities digital behavior recognition and human task behavior were coupled, on the one hand by performers exploring digital environments actively reflecting on their performative process, on the other hand by a performance artist and choreographer creating performative experiences for audiences. It has been demonstrated in cyber-physical settings and can be utilized in upcoming developments further integrating virtual and physical worlds.

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Organizational resilience as a key property of enterprise risk management in response to novel and severe crisis events

Cited by 5 publications

References 108 publications

CEO past distress experience and risk‐taking: Evidence from US property–liability insurance firms

CEO past distress experience and risk‐taking: Evidence from US property–liability insurance firms

A Study on Risk Management in Corporate Business

The socio-aesthetic construction of meaning in digitally mediated environments: a digital sensemaking approach

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