Does executive accountability enhance risk management and risk culture?

Sheedy, Elizabeth; Canestrari-Soh, Dominic

doi:10.1111/acfi.13087

Cited by 2 publications

(1 citation statement)

References 63 publications

(81 reference statements)

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“…Studies on the similarities and differences between public and private organizations in implementing risk management have been very rare. Recent studies on factors affecting the effectiveness of risk management do not explicitly address the differences and similarities between public and private sectors (Alijoyo & Fisabilillah, 2021;Posner & Stanton, 2014;Sheedy & Canestrari-Soh, 2023). Consequently, there is no clear basis for differentiating strategies of implementation and improvement of risk management in organizations in the two sectors.…”

Section: Risk Management In Private Companies and Public Sectormentioning

confidence: 99%

Risk Management in Private Companies and Public Sector Organizations: A Preliminary Comparative Study

Priyarsono,

Gustrian,

Vorst

et al. 2023

j. Organisasi dan manaj.

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Purpose – The effectiveness of risk management in an organization depends largely on its organizational culture as revealed in its governance structure and organizational process. The research question of this study is how to develop strategy to improve the effectiveness of risk management under the constraints of a given organizational culture. The objective of this study is to show that there are fundamental differences and similarities between the governance structure and organizational process that significantly influence the effectiveness of risk management in private companies and the one in public sector organizations. Methodology – To achieve the objective, legal documents of major public and private organizations are reviewed and key resource persons working for the organizations are interviewed. Findings – This paper reports preliminary results that identify several important dimensions of governance structure and organizational process in both sectors that crucially influence the effectiveness of risk management. Originality – Studies on the similarities and differences between public and private organizations in implementing risk management have been very rare. Very few studies explicitly address the effectiveness of risk management in the perspective of the comparative study. This study has never been carried out before, at least in the Indonesian context.

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Section: Risk Management In Private Companies and Public Sectormentioning

confidence: 99%

Risk Management in Private Companies and Public Sector Organizations: A Preliminary Comparative Study

Priyarsono,

Gustrian,

Vorst

et al. 2023

j. Organisasi dan manaj.

View full text Add to dashboard Cite

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Enhancing financial performance and risk management in Kazakhstan’s banking sector

Buzaubayeva,

Orazbayeva,

Alina

et al. 2024

Banks and Bank Systems

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This study aims to assess the impact of regulatory compliance on the effectiveness of risk management and the financial performance of Kazakhstan’s banking sector. Applying Structural Equation Modeling (SEM), the study examines data from Kazakhstani banking institutions, revealing the direct and mediated impacts of regulatory compliance on financial performance, with risk management efficacy as a key intermediary. The analysis identifies a significant direct relationship between regulatory compliance and risk management efficacy (coefficient: 0.45, p-value: &lt; 0.001), suggesting that compliance efforts substantially bolster risk management capabilities. The impact of risk management efficacy on financial performance is also notable (coefficient: 0.35, p-value: &lt; 0.001), confirming its crucial role in financial success. Additionally, a direct, though less pronounced, influence of regulatory compliance on financial performance is observed (coefficient: 0.20, p-value: 0.004). The model’s explanatory power is reflected in an R-squared value of 0.248, indicating that it accounts for approximately 24.8% of the variability in financial performance. These findings underline the critical role of regulatory adherence and effective risk management in ensuring financial success, offering strategic insights for banking operations in Kazakhstan.

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Does executive accountability enhance risk management and risk culture?

Cited by 2 publications

References 63 publications

Risk Management in Private Companies and Public Sector Organizations: A Preliminary Comparative Study

Risk Management in Private Companies and Public Sector Organizations: A Preliminary Comparative Study

Enhancing financial performance and risk management in Kazakhstan’s banking sector

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