The Factors Influencing The Enterprise Risk Management Practices and Firm Performance in Jordan and Malaysia

Shatnawi, Saddam Ali; Eldaia, Monther

doi:10.35940/ijrte.d8114.018520

Cited by 8 publications

(6 citation statements)

References 57 publications

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“…Firstly is the lack of a sampling frame. One can successfully solve this problem in the studies of organizations with wide network bases, and also when building a sample with the results of an offline survey (Shatnawi and Eldaia 2020). Secondly is the problem of coverage, which is the inability of the sampling procedure used to cover the real population (i.e., to set a known non-zero probability of being included in the sample for each population unit) (Girangwa et al 2020).…”

Section: Methodsmentioning

confidence: 99%

Introduction of a Corporate Security Risk Management System: The Experience of Poland

Kalina

Khurdei

Shevchuk

et al. 2022

JRFM

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To ensure the economic security of companies, it is necessary to introduce a risk management system based on the use of various tools, especially financial ones. The purpose of the article is to scientifically substantiate the paradigm of integration of the risk management mechanism into the system of economic security in companies on the basis of risk-oriented management. The main study method was an online survey of 50 Polish companies in January–April 2021 using a developed questionnaire consisting of 40 questions. According to the results of the expert survey, it is determined that regardless of the type of economic activity of the enterprise, the main goal of introducing risk-oriented management is to preserve assets and increase the efficiency of financial and economic processes. The introduction of risk-oriented management is perceived as a tool to increase the value of the company and ensure the achievement of strategic goals. Fraud is a significant risk to the state of economic security for modern enterprises. To prevent the fact of fraud, taking into account the specifics of the operation of companies, it is suggested to conduct an annual examination. As a result, the suggested procedure should include an audit (audit of financial statements, forensics, transition to international financial reporting standards, audit of systems and processes), assessment (assessment for audit and reporting in accordance with international financial reporting standards, risk management assessment in accordance with international standards, assessment of the effectiveness of economic security), tax analytics (identification of tax risks, analysis of compliance with tax legislation, tax audit), and a due diligence procedure for investment objects.

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Section: Methodsmentioning

confidence: 99%

Introduction of a Corporate Security Risk Management System: The Experience of Poland

Kalina

Khurdei

Shevchuk

et al. 2022

JRFM

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“…The questionnaire had 45 items rated on a 5-point Likert scale. Based on the score, risk management was categorized in three levels of poor (a score < 3), moderate (a score of [3][4] and good (a score >4). The data were analyzed in SPSS software using descriptive statistics (minimum, maximum, mean and standard deviation) and inferential statistics including independent t-test, analysis of variance and Pearson correlation test to examine the relationship between demographic factors and risk management.…”

Section: Methodsmentioning

confidence: 99%

Risk Management Status in Iran University of Medical Sciences From the Perspective of its Administrative Staff

Sargiz

Mehraban²,

Haghani³

2022

IJN

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Background & Aims Risk management in academic research, courses, and degrees is crucial in universities. However, there is no evidence for risk management in most aspects of university management. This study was conducted to determine the risk management Evaluation from the Staff's Perspective of Iran University Medical Sciences In 2021. Materials & Methods This is a descriptive cross-sectional study. The research samples were 224 staff of the Iran University of Medical Sciences selected by the available sampling method. The data collection tool was a risk management questionnaire. Risk management was classified into six dimensions. The first dimension is related to the level of employees' knowledge of risk management. The second dimension of risk management status. The third dimension includes policies and procedures. The fourth dimension is related to training status. The fifth dimension was the position of risk management, and finally, the sixth one was monitoring, analysis, evaluation, and risk control. In total, the questionnaire was examined in 45 questions on a 5-point Likert scale and was classified into three levels: poor (score less than 3), moderate (score 3 to 4), and good (score more than 4). The data were analyzed using SPSS software, version 26. The numerical indices of minimum, maximum, Mean±SD for the quantitative variables of the research were used. Friedman test was used to examine the relationship between domains and independent t-test, and analysis of variance and Pearson correlation coefficient was used to investigate the relationship between individual variables and risk management. Results The results showed that most employees (59.4%) were women and the majority (48.7%) were 45-36 years old. The majority of employees (72.8%) were married. Most of the participants (54.4%) worked in administrative headquarters. More than half of the employees (53.1%) had a university degree at the undergraduate level, and only 12.5% of them had completed risk management courses. The results showed that the total score of risk management was 2.44±0/82. The Friedman test result showed a statistically significant relationship between employees' knowledge of risk management and all areas of risk management (p = 0.00). Statistical tests showed that risk management had a statistically significant relationship with the variables of gender (P = 0.02), risk management (P<0.001), and education (P=0.02). The mean score was higher in men than women, and also in employees who had passed the risk management course was higher than other employees. Two-to-two Tukey comparison also showed that the average score obtained by employees with master's degree education was significantly higher than an associate degree (P=0.03). At other levels, this difference was insignificant. Conclusion The results showed that, generally, from the perspective of the Iran University of Medical Sciences staff, risk management at this university is poor. In this regard, the development of educational programs, the adoption of policies and procedures, and the establishment of monitoring programs to implement risk management should be seriously pursued at the university.

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“…However, according to Silva et al (2018), ERM adoption in Jordanian industrial and service organizations is still in its infancy and is a relatively new concept. Furthermore, thorough research is deficient concerning the ERM in Jordan (Shatnawi et al, 2020).…”

Section: Problem Statementmentioning

confidence: 99%

The Practice of Enterprise Risk Management and Sustainable Performance in Jordan

Abdaljabar,

Zakuan,

Mat Saman

et al. 2024

IMBR

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The primary objective of any organization is to minimize risks and losses while optimizing values, revenues and returns. Therefore, risk management, which is often referred to as risk identification, likelihood of occurrence, and impact on the business, is essential. Recent corporate catastrophes have brought to light how inadequately corporations handle risks. In reaction to these challenges, organizations have shifted from separate and personalized procedures to a more comprehensive and integrated enterprise risk management (ERM) perspective in their risk management strategies. To address these new global sustainable challenges which include hunger, poverty, high unemployment, climate change, and related issues, businesses should place a strong priority on environmental preservation and social responsibility. Jordan is one of the countries dealing with several issues related to sustainability. The sustainable performance of Jordanian firms deserves further attention. Managers in Jordanian industrial businesses must keep a close eye on how the company's environmental environment is being improved to reduce air pollution, the usage of hazardous materials, and other difficulties. Therefore, companies in Jordan must adopt strategies that will allow them to face this issue to improve their social, environmental, and economic performance. Jordan's manufacturing and service industries should be at the forefront of a comprehensive approach to risk management and board monitoring, given the growing concerns regarding the environment, society, and economy. Since ERM is a relatively new concept, its implementation in Jordanian industrial and service companies is still in its early stages. Moreover, there is a lack of comprehensive research regarding the ERM in Jordan.

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The Factors Influencing The Enterprise Risk Management Practices and Firm Performance in Jordan and Malaysia

Cited by 8 publications

References 57 publications

Introduction of a Corporate Security Risk Management System: The Experience of Poland

Introduction of a Corporate Security Risk Management System: The Experience of Poland

Risk Management Status in Iran University of Medical Sciences From the Perspective of its Administrative Staff

The Practice of Enterprise Risk Management and Sustainable Performance in Jordan

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