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Risk management practices from risk maturity models perspective

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  • Wieczorek-Kosmala, Monika

Abstract

The paper aims at providing insight to the understanding, application and utility of Risk Maturity Models that represent a valid tool supporting risk management procedures in organisations. Founded on thorough conceptual analysis of available literature and applicative studies, the paper explains the purposes and methodology of constructing Risk Maturity Models, and then demonstrates possible ways of their use with the application of panel data characterising risk management practices of sampled Polish companies. The demonstration results in pre-mature assessment of risk management practices of Polish companies within the selected criteria.

Suggested Citation

  • Wieczorek-Kosmala, Monika, 2014. "Risk management practices from risk maturity models perspective," Journal of East European Management Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 19(2), pages 133-159.
    • Handle: RePEc:nms:joeems:jeems-2014-02-wieczorek-kosmala
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    File URL: https://www.nomos-elibrary.de/10.5771/0949-6181-2014-2-133
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    References listed on IDEAS

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    6. Beasley, Mark S. & Clune, Richard & Hermanson, Dana R., 2005. "Enterprise risk management: An empirical analysis of factors associated with the extent of implementation," Journal of Accounting and Public Policy, Elsevier, vol. 24(6), pages 521-531.
    7. Robert E. Hoyt & Andre P. Liebenberg, 2011. "The Value of Enterprise Risk Management," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(4), pages 795-822, December.
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    Cited by:

    1. Eduart Villanueva & María Antonia Nuñez & Izaias Martins, 2022. "Impact Of Risk Governance, Associated Practices and Tools on Enterprise Risk Management: Some Evidence from Colombia," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 14(1), pages 187-206, January.
    2. Elisane Brandt & Márcia Zanievicz da Silva & Franciele Beck, 2021. "Influence of Family Culture on Enterprise Risk Management in Brazilian Companies," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 25(6), pages 190082-1900.
    3. Aib Abdelatif & Djamel Nettour & Rachid Chaib & Ion Verzea & Salim Bensehamdi, 2023. "Improvement of enterprise risk visualization: risk mapping," Technology audit and production reserves, PC TECHNOLOGY CENTER, vol. 6(2(74)), pages 28-36, December.
    4. José Ruiz-Canela López, 2021. "How Can Enterprise Risk Management Help in Evaluating the Operational Risks for a Telecommunications Company?," JRFM, MDPI, vol. 14(3), pages 1-26, March.

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    More about this item

    Keywords

    Risk Maturity Models; risk management; enterprise risk management; strategic risk management;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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