Enterprise Risk Management: Review, Critique, and Research Directions

Bromiley, Philip; McShane, Michael K.; Nair, Anil; Rustambekov, Elzotbek

doi:10.2139/ssrn.2376261

Cited by 34 publications

(47 citation statements)

References 83 publications

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“…Perhaps it is studies such as those mentioned above that has triggered research like that of Bromiley, McShane, Nair, & Rustambekov (2014), who sought to highlight the need to expand ERM research to include management scholars. Similar to Moloi's (2017) argument, Bromiley et al (2014) have also observed that academic research on ERM is still in its infancy.…”

Section: Associated Literaturementioning

confidence: 99%

Analysing the human capital capabilities in the enterprise risk management function of South Africa’s public institutions

Moloi

2018

BEH

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Abstract:The weak control environment in South Africa's public sector has, in the past, resulted in high levels of irregular, fruitless and wasteful, and unauthorised expenditure. In order to make a contribution to the discourse of mechanisms that could be deployed to reduce high levels of irregular, fruitless and wasteful, and unauthorised expenditure, this study analysed the capabilities of the human capital deployed in South Africa's public sector. Together with the National Treasury in the Office of the Accountant General, a questionnaire was designed and administered to the public institution's Chief Risk Officers in the first quarter of 2017.The findings of the study are that inadequate risk management processes and ineffective practices that are partly responsible for the weak control environment in public institutions, could also be attributed to the capabilities of the human capital deployed in enterprise risk management functions. In this regard, the study found that some of the reasons for the inadequate risk management processes and ineffective practices stemmed from: the inadequate staffing of the enterprise risk management function; positions not being filled by candidates with adequate academic qualifications and experience; the time it takes to fill a vacant position; and inadequate budget allocations. When institutions address risk maturity, policies, processes, and practices, focus must simultaneously be directed to the human capabilities deployed within the risk management function. JEL Classifications: M4

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Section: Associated Literaturementioning

confidence: 99%

Analysing the human capital capabilities in the enterprise risk management function of South Africa’s public institutions

Moloi

2018

BEH

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“…The main criteria for evaluating the effectiveness of ERM is to measure the extent to which the eight components of the framework are executed. To date, studies providing empirical evidence of the impact of ERM implementation on financial performance are in their infancy [5][6][7][8][9]. The need for more research is critical considering the current tendency of regulatory authorities to shift their attention to ERM.…”

Section: "+ ) +) ) -"mentioning

confidence: 99%

“…Study [8] suggested that the use of agency theory is likely to simplify the complexity inherent in real business environments. Indeed, further review of the individual attributes of the COSO's ERM framework revealed not only monitoring attributes but also advisory functions.…”

Section: /('+! * * -$'(% And+mentioning

confidence: 99%

Could Enterprise Risk Management (ERM) Create, Protect and Enhance Shareholders’ Wealth Among Malaysian Listed Issuers

Kasim

Hanafi

2017

SHS Web Conf.

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“…Many frameworks, guidelines and standards explain how to implement risk management in an effective way [7]. Such documents meet broad consent all over the world: this emphasizes an increasing search for harmonization of risk management practices at international level, without, however, overlooking the peculiarities of every individual organization.…”

Section: Introductionmentioning

confidence: 99%

Risk Management Standards in Global Markets

Bosetti¹

2015

Virtual Multidisciplinary Conference

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-Organizations face internal and external risks, which can affect their ability to achieve the established objectives and to satisfy stakeholders' expectations. However, implementing an integrated risk management system can contribute to avoid risks or reduce their consequences for corporate effectiveness. This paper describes the most important frameworks and standards of integrated risk management, emphasizing the increasing harmonization of best practices all over the world.

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Enterprise Risk Management: Review, Critique, and Research Directions

Cited by 34 publications

References 83 publications

Analysing the human capital capabilities in the enterprise risk management function of South Africa’s public institutions

Analysing the human capital capabilities in the enterprise risk management function of South Africa’s public institutions

Could Enterprise Risk Management (ERM) Create, Protect and Enhance Shareholders’ Wealth Among Malaysian Listed Issuers

Risk Management Standards in Global Markets

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