Measuring enterprise risk management implementation: A multifaceted approach for the banking sector

Adam, Mukhtar; Soliman, Alaa M.; Mahtab, Nehal

doi:10.1016/j.qref.2021.01.002

Cited by 16 publications

(24 citation statements)

References 17 publications

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“…The financial industry has opted for ERM practices for the reduction of costs, risk and potential loss (Adam et al 2021;Mustafa and Al-Nimer 2018). Several studies have found that the ERM has a significant effect on the financial performance of companies (Shad and Lai 2019;Liem 2018;Olayinka et al 2017;Soliman and Adam 2017).…”

Section: Erm and Firm Performancementioning

confidence: 99%

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Al-Nimer

Abbadi

Al-Omush

et al. 2021

JRFM

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This study focused on scrutinizing the influence of Enterprises Risk Management (ERM) on firm performance with a mediating role of Business Model Innovation (BMI). For the purpose, data from 228 Jordanian firms was collected and analyzed. The results indicated that the ERM practices have a significant influence on BMI and financial firm’s performance. The BMI significantly contributed to the financial and nonfinancial performance, whereas it displayed insignificant effects regarding environmental performance. The BMI fully mediated the relationship between ERM practices and financial performance, where a partial mediating effect was observed for the path between ERM practices and nonfinancial performance, while showed no mediating role between the ERM practices and environmental performance. Economies of countries like Jordan are hereby urged to implement the formal ERM practices and to financially educate their top management teams to apply the BMI to gain first-rate performance. This study also encourages the researchers from other countries to extend this model to their economies to unleash useful insights.

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Section: Erm and Firm Performancementioning

confidence: 99%

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Al-Nimer

Abbadi

Al-Omush

et al. 2021

JRFM

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“…Researchers (Grace et al , 2015; Wu and Olson, 2015; Hoyt and Liebenberg, 2011) attest to the potency of enterprise risk management (ERM) as a contemporary organizational control system, which gives managers the opportunity to manage a wide range of risks (such as financial, hazards and strategic). Unlike the “silo-based” approach to risk management, ERM is seen as a holistic approach to risk management (Gordon, 2009; Adam et al , 2021). ERM allows managers to have a holistic overview of the portfolio of risks facing the organization and identify particular security controls to deal with the risk (Roslan et al , 2017; Anders, 2016).…”

Section: Introductionmentioning

confidence: 99%

Enterprise risk management and information technology security in the financial sector

Kwateng

Amanor

Tetteh

2022

ICS

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Purpose This study aims to empirically investigate the relationship between enterprise risk management (ERM) and information technology (IT) security within the financial sector. Design/methodology/approach Risk officers of financial institutions licensed by the Central Bank of Ghana constituted the sample frame. A structured questionnaire was used to elicit data from the respondents. The structural equation modeling method was employed to analyze the hypothesized model. Findings The results revealed that ERM has a strong positive substantial effect on IT security within financial institutions. However, organizational culture failed to moderate the relationship between ERM and IT security. Practical implications A well-managed risk helps to eliminate ineffective, archaic and redundant technology as the originator of rising perils and organizational concerns in today's corporate financial institutions since ERM established a substantially strong positive correlation among the variables. Originality/value ERM studies in the African context are rare. This paper adds to contemporary literature by providing a new perspective toward the understanding of the relationship between ERM and IT security, especially in the financial industry.

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“…As a result, manufacturing firms are under pressure to devise measures to lessen the impact of risks and uncertainty on their financial performance (Naseem et al, 2020;Ehiedu & Toria, 2022). Risk management has become a common strategic practice for businesses as a means to respond swiftly and decisively to the different risks they confront, such as economic, political, and market risks (Anton & Nucu, 2020;Saeidi et al, 2021;Adam et al, 2021;Poon et al, 2022). Those companies that invest in risk management are better able to prepare for and respond to any potential threats to their assets (Blanco-Mesa et al, 2019;Adam et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

“…Risk management has become a common strategic practice for businesses as a means to respond swiftly and decisively to the different risks they confront, such as economic, political, and market risks (Anton & Nucu, 2020;Saeidi et al, 2021;Adam et al, 2021;Poon et al, 2022). Those companies that invest in risk management are better able to prepare for and respond to any potential threats to their assets (Blanco-Mesa et al, 2019;Adam et al, 2021). As a result, businesses nowadays employ a strategic practice called ERM to take a more holistic approach to risk assessment and administration (ERM) to take a more holistic approach to risk assessment and administration (Blanco-Mesa et al, 2019;Anton & Nucu, 2020;Poon et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

The Moderating Role of Organizational Culture on the Relationship between Enterprise Risk Management Dimensions and Financial Performance in Manufacturing Companies: A Theoretical Framework

Aldriweesh¹,

Zakuan²,

Bajuri³

et al. 2022

IJARAFMS

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Enterprise Risk Management (ERM) has heterogeneously practiced between financial and non-financial sectors across the world, although it is a more holistic approach to risk assessment and administration at all enterprise levels. Academics have studied the dimensions of ERM implementation, but there is no complete picture of the determinants and implications of such ERM dimensions yet, especially in developing countries. In this regard, through an extensive literature view, this study has found a theoretical link that exists between internal factors, external factors, structure, and process as main dimensions of ERM implementation and financial performance in developing countries' manufacturing firms. The conceptual model also examines the moderation role of the Organizational Culture (OC) in the relationship between the dimensions of ERM implementation and manufacturing financial performance, where this study has also theoretically proven the importance of OC as a major determinant in influencing the implementation of ERM dimensions and enhancing financial performance in developing countries' manufacturing firms. However, these theoretical results need to conduct a survey of a sample of executive directors in manufacturing companies in a developing country such as Saudi Arabia to examine correlations in the proposed model. Based on this study's theoretical results, this study contributes to promoting awareness among manufacturing firm managers in developing nations about the importance of ERM dimensions and OC in improving the financial performance and competitiveness of their companies.

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Measuring enterprise risk management implementation: A multifaceted approach for the banking sector

Cited by 16 publications

References 17 publications

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Enterprise risk management and information technology security in the financial sector

The Moderating Role of Organizational Culture on the Relationship between Enterprise Risk Management Dimensions and Financial Performance in Manufacturing Companies: A Theoretical Framework

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