IDEAS home Printed from https://ideas.repec.org/a/sae/sagope/v13y2023i3p21582440231191789.html
   My bibliography  Save this article

The Risk Culture Framework: Introducing an Integrative Framework for Holistic Risk Analysis

Author

Listed:
  • Bernhard Streicher
  • Moritz Bielefeld
  • Eric Eller

Abstract

Risk culture shapes individual, group, organizational, and societal risk perception, and behavior, and, therefore, is a promising concept in risk analysis. Risk culture concepts are popular among practitioners since they have the potential to integrate different research strands and provide practical guidelines. However, such concepts are still ill-defined, and their empirical foundations are limited. We introduce a new framework for risk culture derived from research on organizational culture and risk climate that aims to overcome the shortcomings of current models. The Risk Culture Framework is a 3 × 3 matrix that differentiates three influence domains (i.e., person, social context, and risk situation) and three cultural layers (i.e., observable, non-observable, and implicit factors). The framework can be applied in different contexts and fields of risk research. Each cell of the matrix can be filled with specific, proven factors relevant to the context of interest. The framework aims to enable the integration of different disciplines and approaches, to enlarge the understanding of mechanisms that shape risk perception and behavior, to navigate the conception of research studies, to provide a blueprint for comprehensive risk measures, to guide practical risk analysis, and to facilitate benchmarking for appropriate risk cultures. Considerations for the application of the Risk Culture Framework, as well as its validation through future research, are outlined.

Suggested Citation

  • Bernhard Streicher & Moritz Bielefeld & Eric Eller, 2023. "The Risk Culture Framework: Introducing an Integrative Framework for Holistic Risk Analysis," SAGE Open, , vol. 13(3), pages 21582440231, August.
  • Handle: RePEc:sae:sagope:v:13:y:2023:i:3:p:21582440231191789
    DOI: 10.1177/21582440231191789
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/21582440231191789
    Download Restriction: no

    File URL: https://libkey.io/10.1177/21582440231191789?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Riccardo Cimini, 2021. "A systematic and bibliometric review on risk culture: a novel theoretical framework," Journal of Risk Finance, Emerald Group Publishing Limited, vol. 22(2), pages 153-168, May.
    2. Fritz-Morgenthal, Sebastian & Hellmuth, Julia & Packham, Natalie, 2016. "Does risk culture matter? The relationship between risk culture indicators and stress test results," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 9(1), pages 71-84, January.
    3. Jingjing Zeng & Meiquan Jiang & Meng Yuan, 2020. "Environmental Risk Perception, Risk Culture, and Pro-Environmental Behavior," IJERPH, MDPI, vol. 17(5), pages 1-18, March.
    4. Martina Raue & Bernhard Streicher & Eva Lermer & Dieter Frey, 2017. "Being active when judging risks: bodily states interfere with accurate risk analysis," Journal of Risk Research, Taylor & Francis Journals, vol. 20(4), pages 445-462, April.
    5. Terje Aven & Marja Ylönen, 2021. "How the risk science can help us establish a good safety culture," Journal of Risk Research, Taylor & Francis Journals, vol. 24(11), pages 1349-1367, November.
    6. Elizabeth Sheedy & Patrick Garcia & Denise Jepsen, 2021. "The Role of Risk Climate and Ethical Self-interest Climate in Predicting Unethical Pro-organisational Behaviour," Journal of Business Ethics, Springer, vol. 173(2), pages 281-300, October.
    7. Vikash Kumar Sinha & Marika Arena, 2020. "Manifold Conceptions of the Internal Auditing of Risk Culture in the Financial Sector," Journal of Business Ethics, Springer, vol. 162(1), pages 81-102, February.
    8. Alessio Cornia & Kerstin Dressel & Patricia Pfeil, 2016. "Risk cultures and dominant approaches towards disasters in seven European countries," Journal of Risk Research, Taylor & Francis Journals, vol. 19(3), pages 288-304, March.
    9. Terje Aven & Roger Flage, 2020. "Foundational Challenges for Advancing the Field and Discipline of Risk Analysis," Risk Analysis, John Wiley & Sons, vol. 40(S1), pages 2128-2136, November.
    10. Terje Aven & Ortwin Renn, 2009. "On risk defined as an event where the outcome is uncertain," Journal of Risk Research, Taylor & Francis Journals, vol. 12(1), pages 1-11, January.
    11. Terje Aven, 2019. "The Call for a Shift from Risk to Resilience: What Does it Mean?," Risk Analysis, John Wiley & Sons, vol. 39(6), pages 1196-1203, June.
    12. Angela Zeier Roeschmann, 2014. "Risk Culture: What It Is and How It Affects an Insurer's Risk Management," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 17(2), pages 277-296, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ghafoori, Eraj & Mata, Fernanda & Lauren, Nita & Faulkner, Nick & Tear, Morgan J., 2023. "Measuring risk culture in finance: Development of a comprehensive measure," Journal of Banking & Finance, Elsevier, vol. 148(C).
    2. Young Jun Choi & Mi Sun Jeon, 2020. "How Business Interests and Government Inaction Led to the Humidifier Disinfectant Disaster in South Korea: Implications for Better Risk Governance," Risk Analysis, John Wiley & Sons, vol. 40(2), pages 240-253, February.
    3. Tom McLeod Logan & Terje Aven & Seth David Guikema & Roger Flage, 2022. "Risk science offers an integrated approach to resilience," Nature Sustainability, Nature, vol. 5(9), pages 741-748, September.
    4. Dengsheng Wu & Xiaoqian Zhu & Jie Wan & Chunbing Bao & Jianping Li, 2019. "A Multiobjective Optimization Approach for Selecting Risk Response Strategies of Software Project: From the Perspective of Risk Correlations," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 18(01), pages 339-364, January.
    5. Aven, Terje, 2010. "Some reflections on uncertainty analysis and management," Reliability Engineering and System Safety, Elsevier, vol. 95(3), pages 195-201.
    6. Niël Almero Krüger & Natanya Meyer, 2021. "The Development of a Small and Medium-Sized Business Risk Management Intervention Tool," JRFM, MDPI, vol. 14(7), pages 1-14, July.
    7. Neelke Doorn, 2015. "The Blind Spot in Risk Ethics: Managing Natural Hazards," Risk Analysis, John Wiley & Sons, vol. 35(3), pages 354-360, March.
    8. Wang, Hongping & Fang, Yi-Ping & Zio, Enrico, 2022. "Resilience-oriented optimal post-disruption reconfiguration for coupled traffic-power systems," Reliability Engineering and System Safety, Elsevier, vol. 222(C).
    9. Terje Aven & Ortwin Renn, 2015. "An Evaluation of the Treatment of Risk and Uncertainties in the IPCC Reports on Climate Change," Risk Analysis, John Wiley & Sons, vol. 35(4), pages 701-712, April.
    10. Kaya, Gulsum Kubra & Hocaoglu, Mehmet Fatih, 2020. "Semi-quantitative application to the Functional Resonance Analysis Method for supporting safety management in a complex health-care process," Reliability Engineering and System Safety, Elsevier, vol. 202(C).
    11. Hatem Elleuch & Wafik Hachicha & Habib Chabchoub, 2014. "A combined approach for supply chain risk management: description and application to a real hospital pharmaceutical case study," Journal of Risk Research, Taylor & Francis Journals, vol. 17(5), pages 641-663, May.
    12. Terje Aven, 2012. "Foundational Issues in Risk Assessment and Risk Management," Risk Analysis, John Wiley & Sons, vol. 32(10), pages 1647-1656, October.
    13. Grzegorz Drozdowski & Joanna Rogozińska-Mitrut & Jacek Stasiak, 2021. "The Empirical Analysis of the Core Competencies of the Company’s Resource Management Risk. Preliminary Study," Risks, MDPI, vol. 9(6), pages 1-12, June.
    14. Ching-Chung Lin & Shou-Lin Yang & Huai-I Lee, 2015. "Bank Concentration and Enterprise Borrowing Cost Risk: Evidence from Asian Markets," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(2), pages 194-201, February.
    15. Ioanna Ioannou & Jaime E. Cadena & Willy Aspinall & David Lange & Daniel Honfi & Tiziana Rossetto, 2022. "Prioritization of hazards for risk and resilience management through elicitation of expert judgement," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 112(3), pages 2773-2795, July.
    16. Waqas Ali & Shujahat Ali & Shahid Mehmood, 2020. "Effect of Risk Management Practices on Banks Performance Moderating Role of Managerial Expertise as a Competitive Edge," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 16(1), pages 88-100.
    17. Liangang Li & Pingyu Zhang & Chengxin Wang, 2022. "What Affects the Economic Resilience of China’s Yellow River Basin Amid Economic Crisis—From the Perspective of Spatial Heterogeneity," IJERPH, MDPI, vol. 19(15), pages 1-20, July.
    18. Aven, Terje, 2013. "Practical implications of the new risk perspectives," Reliability Engineering and System Safety, Elsevier, vol. 115(C), pages 136-145.
    19. Qinyuan Wan & Wencui Du, 2022. "Social Capital, Environmental Knowledge, and Pro-Environmental Behavior," IJERPH, MDPI, vol. 19(3), pages 1-17, January.
    20. Cornwell, Nikki & Bilson, Christopher & Gepp, Adrian & Stern, Steven & Vanstone, Bruce J., 2023. "Modernising operational risk management in financial institutions via data-driven causal factors analysis: A pre-registered study," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:sagope:v:13:y:2023:i:3:p:21582440231191789. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.