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Risk Governance: Basic Rationale and Tentative Findings from the German Banking Sector

In: Current Issues in Corporate Social Responsibility

Author

Listed:
  • Volker Stein

    (University of Siegen)

  • Arnd Wiedemann

    (University of Siegen)

Abstract

The fact that, over and over again, companies are surprised by unanticipated risks points to a serious deficit: Obviously, neither risk management nor corporate governance has been able to avert the incurred damage. Are these two highly specialized functions unable “to see the forest for the trees?” For the sake of overcoming the addressed limitations, the management theory-related search for a solution leads to the proposal of a bridging function: “risk governance”. We will first introduce its basic rationale in the corporate context before presenting tentative empirical findings from a benchmark study in the German banking sector. Our paper contributes to the development of a generic approach towards the strategic control of risk from the perspective of top management.

Suggested Citation

  • Volker Stein & Arnd Wiedemann, 2018. "Risk Governance: Basic Rationale and Tentative Findings from the German Banking Sector," CSR, Sustainability, Ethics & Governance, in: Samuel O. Idowu & Catalina Sitnikov & Dalia Simion & Claudiu George Bocean (ed.), Current Issues in Corporate Social Responsibility, pages 97-110, Springer.
    • Handle: RePEc:spr:csrchp:978-3-319-70449-4_7
    DOI: 10.1007/978-3-319-70449-4_7
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    Cited by:

    1. Karel Janda & Oleg Kravtsov, 2022. "Regulatory Stress Tests and Bank Responses: Heterogeneous Treatment Effect in Dynamic Settings," International Journal of Central Banking, International Journal of Central Banking, vol. 18(2), pages 1-49, June.
    2. Werner Gleißner & Thomas Günther & Christian Walkshäusl, 2022. "Financial sustainability: measurement and empirical evidence," Journal of Business Economics, Springer, vol. 92(3), pages 467-516, April.

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