An enterprise risk management system for SMEs: innovative design paradigm and risk representation model

Bensaada, Ilies; Taghezout, Noria

doi:10.1080/13215906.2019.1624190

Cited by 11 publications

(7 citation statements)

References 44 publications

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“…The findings show that ERM literature can be divided into four general lines of research: ERM adoption, determinants of ERM implementation, the effects of ERM adoption, and other aspects. The first strand offers information about risk management practices (Altuntas et al 2011;Almeida et al 2019;Bensaada and Taghezout 2019;Beck da Silva Etges et al 2019;Mishra et al 2019). It can be inferred that there is a growing interest of researchers regarding ERM in SMEs.…”

Section: Discussionmentioning

confidence: 99%

Enterprise Risk Management: A Literature Review and Agenda for Future Research

Anton

Nucu

2020

JRFM

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The Enterprise Risk Management (ERM) process has heterogeneously developed across the world, although it represents a leading paradigm, supporting organizations to identify, evaluate, and manage risks at the enterprise level. Academics have studied the process, but there is no complete picture of the determinants and implications of such an integrated risk management process. Therefore, we present a systematic empirical literature review on ERM, based on a research protocol. The review highlights that the ERM literature can be divided into four general lines of research: the ERM adoption, the determinants of the ERM implementation, the effects of ERM adoption, and other aspects. In contrast to the richness of studies devoted to ERM engagement in small and medium-sized enterprises (SMEs), studies exploring ERM adoption in banks or insurance are relatively few. The literature review has revealed that the most frequently investigated effect of ERM is on firm performance. Little effort has been dedicated to the analysis of the effectiveness of ERM by its components and to institutional, individual, and organizational factors that affect ERM adoption. The study can serve as a starting point for scholars to explore research gaps related to ERM, while the practitioners can rely on the presented findings to identify the effects of the ERM implementation.

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Section: Discussionmentioning

confidence: 99%

Enterprise Risk Management: A Literature Review and Agenda for Future Research

Anton

Nucu

2020

JRFM

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“…The PCA summarizes and reduces the size of the 42 independent variables into a number of underlying factors and structure, which determine the variability of financial inclusion for SMEs in Egypt. In keeping up with the literature (notably [ 1 , 8 , 10 , 13 ]), the ‘eigenvalue-based criteria,’ 4 provided the cut-off threshold for the number of components or groups explaining the variability of the dependent variable. There is a standardized cut-off point agreed upon by the literature, which should exceed 50% or equivalent to a number of PC groups that retain a coefficient of variability that almost reaches one [ 29 ].…”

Section: Resultsmentioning

confidence: 99%

“…Therefore, it was inevitable for the researchers to reduce the number of variables through the principal component analysis (PCA). The PCA is an inferential analysis method used to summarize the number of variables determining in this case SMEs’ level of financial inclusion, and its use is aligned with the previous literature using the same approach, as in the case of Tomaselli et al [ 59 ], ElSherif [ 21 ], Bensaada and Taghezout [ 10 ] and Cámara and Tuesta [ 13 ] to estimate the level of financial inclusion. After the PCA, a logistic regression with categorical variables was conducted to provide the best fit to a linear regression model on the factors causing the highest possible variability on the level of financial inclusion (as proposed by Archer et al [ 4 ]).…”

Section: Methodological Approach: Twofold Approachmentioning

confidence: 99%

The pillars determining financial inclusion among SMEs in Egypt: service awareness, access and usage metrics and macroeconomic policies

2021

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Over the past decade, financial inclusion has been a trending topic and key priority in developing countries seeking to build a resilient financial sector and pursuing economic growth. Most of the recently launched financial inclusion initiatives in Egypt, especially those aligned with the 2030 sustainability strategy, have targeted marginalized and excluded individuals. Only a few have addressed the financial inclusion of small- and medium-sized enterprises (SMEs). Accordingly, this paper aims to identify the main pillars of financial inclusion for SMEs. In keeping up with the mainstream literature, it introduces a number of financial inclusion determinants designed to attract SMEs. They include supply-side determinants such as access to financial services and marketing awareness campaigns, which act as tools to segment financial services and market their benefits to SMEs, and demand-side determinants, which involve the use of financial services. Finally, there is an assessment of the macroeconomic risks to investors and SMEs. The researchers’ methodology was based on first deriving a novel dataset from responses to a questionnaire addressing bankers who manage SME portfolios, second analyzing the dataset through descriptive and inferential statistics and third undertaking a twofold econometric estimation. The econometric estimations started with principal component analysis (PCA) and proceeded to a logistic regression to determine the significant variables pertinent to increasing the financial inclusion of SMEs. The PCA suggested three main pillars determining financial inclusion. They are integrated marketing tools, which increase SMEs’ awareness of and access to the most sophisticated banking services, usage of banking services, and assessment of the macroeconomic risks that would prevent SMEs from gaining access to financial services. As well, the interaction term between the variables derived from the three pillars accounts for a variability of 86.6% in the level of financial inclusion of Egypt’s SMEs.

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“…On another side, the lack of best practice examples could affect the organization's willingness. Opportunity implementation exists in some literature and article related to project management [5]- [9], enterprise management systems [10], and good example implementation in TAMCO [11]. On the contrary, many implementations only see one side of handling risk in quality, occupational health, and environmental management systems [12] [13].…”

Section: Introductionmentioning

confidence: 99%

Opportunity and Risk Adaptation in Environmental Management System

Anandagiri

Nowo

Syahnoedi

2021

IOP Conf. Ser.: Earth Environ. Sci.

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Organizations, in general, use Environmental Management System (EMS) from ISO 14001:2015 Standard. During the preparation phase, they shall determine their risks and opportunities following Risk Management System (RMS). EMS’s newest standard emphasizes the risks, as potential adverse impact, and the opportunities, like potential beneficial impact. However, Organizations tend to use the RMS to manage the threat only while putting aside the opportunity. This traditional paradigm should be changed to optimize the “opportunities” that can proactively trigger the action to achieve breakthroughs, especially in environmental performance. This research was conducted qualitatively and compared the literature studies with the selected informants’ experiences. From the in-depth interviews analysis result, EMS practitioners know the ”opportunity” potential role to improve the current management system, but not easy to be implemented. The main reasons why the “opportunity” is not popular are limitations in understanding methods of quantification of “opportunity,” habits in controlling adverse risks, and “opportunity” concepts considered uncommon and still new.

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An enterprise risk management system for SMEs: innovative design paradigm and risk representation model

Cited by 11 publications

References 44 publications

Enterprise Risk Management: A Literature Review and Agenda for Future Research

Enterprise Risk Management: A Literature Review and Agenda for Future Research

The pillars determining financial inclusion among SMEs in Egypt: service awareness, access and usage metrics and macroeconomic policies

Opportunity and Risk Adaptation in Environmental Management System

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