IDEAS home Printed from https://ideas.repec.org/a/scm/ecofrm/v6y2017i1p37.html
   My bibliography  Save this article

Organization Performance And Enterprise Risk Management

Author

Listed:
  • Jan Kopia,

    (The Bucharest University of Economic Studies, Romania)

  • Vanessa Just,

    (The Bucharest University of Economic Studies, Romania)

  • Wiebke Geldmacher,

    (The Bucharest University of Economic Studies, Romania Author-Name :Aykut Bußian
    The Bucharest University of Economic Studies, Romania)

Abstract

Enterprise risk management (ERM) is an integrated approach to manage the risks of companies. Despite the wide adoption of ERM into companies' organizational processes, there are neither clear standards for ERM nor ground based theories about the outcome of it. This paper gives an overview of scientific research in the topic of ERM by comparing recent academic papers which focus ERM in the context of performance evaluation or effectiveness by categorizing and evaluating each source against its limitations. The limitations are used to develop a unified view on the question of how ERM influences performance of organizations. This also involves aspects of measuring the current status of ERM within companies and the effects of ERM on the other side. This paper shows that there is diversity in scientific literature of how to measure performance in the ERM-context. The authors identify reasons for that and suggest approaches to solve the problem by identifying best-practice approaches and a generic framework on how to use them to improve ERM-assessment in practice as well as research

Suggested Citation

  • Jan Kopia, & Vanessa Just, & Wiebke Geldmacher,, 2017. "Organization Performance And Enterprise Risk Management," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(1), pages 1-37, January.
    • Handle: RePEc:scm:ecofrm:v:6:y:2017:i:1:p:37
    as

    Download full text from publisher

    File URL: http://ecoforumjournal.ro/index.php/eco/article/view/573/361
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ryan Baxter & Jean C. Bedard & Rani Hoitash & Ari Yezegel, 2013. "Enterprise Risk Management Program Quality: Determinants, Value Relevance, and the Financial Crisis," Contemporary Accounting Research, John Wiley & Sons, vol. 30(4), pages 1264-1295, December.
    2. Stephen Gates & Jean-Louis Nicolas & Paul L. Walker, 2012. "Enterprise risk management: A process for enhanced management and improved performance," Post-Print hal-00857435, HAL.
    3. Gabriel Hawawini & Venkat Subramanian & Paul Verdin, 2003. "Is performance driven by industry‐or firm‐specific factors? A new look at the evidence," Strategic Management Journal, Wiley Blackwell, vol. 24(1), pages 1-16, January.
    4. Young, David, 1997. "Economic value added: A primer for European managers," European Management Journal, Elsevier, vol. 15(4), pages 335-343, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mihaela Brindusa Tudose & Valentina Diana Rusu, 2018. "Analysis Of The Effects Of Financing And Risk Management On The Value Of Firms Listed On The Bucharest Stock Exchange," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 44-58, April.
    2. Dr. Augustine C. Odubuasi & Dr. Felix Enaibre Ighosewe & Dr. Nkechi T. Ofor, 2022. "Enterprise Risk Management and Banks’ Financial Performance: Evidence from West African Countries," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(1), pages 268-272, January.
    3. Mohamed Santigie Kanu, 2021. "A Theoretical Framework for Enterprise Risk Management and Organizational Performance," International Business Research, Canadian Center of Science and Education, vol. 14(5), pages 1-63, May.
    4. Gazoulit Sarra & Khadija Oubal, 2023. "Risk management in public universities in pursuit of performance: A synthesis of the literature [La gestion des risques dans les universités publiques en quête de la performance: Une synthèse de la," Post-Print hal-03958352, HAL.

    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. Jan KOPIA, & Vanessa JUST,, 2017. "Meaning And Usage Of A Conceptual Enterprise Risk Management Framework €“ A Case Study," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 6(2), pages 1-11, July.
    2. Therese R. Viscelli & Mark S. Beasley & Dana R. Hermanson, 2016. "Research Insights About Risk Governance," SAGE Open, , vol. 6(4), pages 21582440166, November.
    3. Rami Shaheen & Mehmet Ağa & Husam Rjoub & Ahmad Abualrub, 2020. "Investigation of the Pillars of Sustainability Risk Management as an Extension of Enterprise Risk Management on Palestinian Insurance Firms’ Profitability," Sustainability, MDPI, vol. 12(11), pages 1-20, June.
    4. Adam, Mukhtar & Soliman, Alaa. M. & Mahtab, Nehal, 2023. "Measuring enterprise risk management implementation: A multifaceted approach for the banking sector," The Quarterly Review of Economics and Finance, Elsevier, vol. 87(C), pages 244-256.
    5. Chang, Chia-Lin & Hsu, Hui-Kuang, 2013. "Modelling Volatility Size Effects for Firm Performance: The Impact of Chinese Tourists to Taiwan," MPRA Paper 45691, University Library of Munich, Germany.
    6. Al-Amri, Khalid & Davydov, Yevgeniy, 2016. "Testing the effectiveness of ERM: Evidence from operational losses," Journal of Economics and Business, Elsevier, vol. 87(C), pages 70-82.
    7. Yi-Min Chen, 2008. "How Much Does Country Matter?," International Regional Science Review, , vol. 31(4), pages 404-435, October.
    8. 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.
    9. Eleonora Bartoloni & Maurizio Baussola, 2015. "Persistent Product Innovation and Market-oriented Behaviour: the Impact on Firms' Performance," DISCE - Quaderni del Dipartimento di Scienze Economiche e Sociali dises1505, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    10. Miguel A. Ariño & Africa Ariño & Roberto Garcia-Castro, 2008. "A model to evaluate transient industry effects," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(8), pages 629-637.
    11. Chang, Chia-Lin & Hsu, Hui-Kuang & McAleer, Michael, 2013. "Is small beautiful? Size effects of volatility spillovers for firm performance and exchange rates in tourism," The North American Journal of Economics and Finance, Elsevier, vol. 26(C), pages 519-534.
    12. Raza, Syed Ali & Farooq, M. Shoaib & Khan, Nadeem, 2011. "Firm and industry effects on firm profitability: an empirical analysis of KSE," MPRA Paper 36797, University Library of Munich, Germany.
    13. Elisabetta Mafrolla & Felice Matozza, 2014. "Risk management and firm size: a survey of Italian private companies," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2014(3), pages 87-108.
    14. Indra Abeysekera, 2021. "Intellectual Capital and Knowledge Management Research towards Value Creation. From the Past to the Future," JRFM, MDPI, vol. 14(6), pages 1-18, May.
    15. Julia Eichholz & Nicole Hoffmann & Anja Schwering, 2024. "The role of risk management orientation and the planning function of budgeting in enhancing organizational resilience and its effect on competitive advantages during times of crises," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 35(1), pages 17-58, March.
    16. Phebo D. Wibbens & Nicolaj Siggelkow, 2020. "Introducing LIVA to measure long‐term firm performance," Strategic Management Journal, Wiley Blackwell, vol. 41(5), pages 867-890, May.
    17. Walker, Nathan L. & Styles, David & Coughlan, Paul & Williams, A. Prysor, 2022. "Cross-sector sustainability benchmarking of major utilities in the United Kingdom," Utilities Policy, Elsevier, vol. 78(C).
    18. Mafumbate J & Ndlovu U & Mafuka A & Gavhure P, 2017. "The Influence of Firm Specific Determinants on Financial Performance in the Power Industry," Journal of Economics and Behavioral Studies, AMH International, vol. 9(5), pages 18-28.
    19. Diego F. Téllez & Jesús M. Godoy, 2017. "Mission Power and Firm Financial Performance," Documentos de Trabajo de Valor Público 15655, Universidad EAFIT.
    20. repec:lan:wpaper:1029 is not listed on IDEAS
    21. Costa Climent, Ricardo & Haftor, Darek M., 2021. "Business model theory-based prediction of digital technology use: An empirical assessment," Technological Forecasting and Social Change, Elsevier, vol. 173(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:scm:ecofrm:v:6:y:2017:i:1:p:37. 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: Iulian Condratov (email available below). General contact details of provider: https://edirc.repec.org/data/feusvro.html .

    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.