The Adoption and Design of Enterprise Risk Management Practices: An Empirical Study

Paape, Leen; Speklé, Roland F.

doi:10.2139/ssrn.1658200

Cited by 19 publications

(32 citation statements)

References 21 publications

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“…Compared to earlier studies, which have measured ERM by the presence of a CRO, S&P ERM ratings or a simple scale measuring the degree of ERM implementation , we have developed an approach to measuring ERM and shown that ERM do enhance risk management performance. This is in line with the few studies actually testing the effect of ERM on risk management performance (Paape and Speklé, 2012).…”

Section: Discussion Limitations and Future Researchsupporting

confidence: 87%

“…Furthermore, the effect of ERM on risk performance seems surprisingly neglected in literature (Paape and Speklé, 2012), and with the concern raised by Paape and Speklé (2012) that no evidence is found to support that applying the COSO framework improves risk management effectiveness, a test of the effect of ERM on risk performance seems highly warranted.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

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Strategic Risk Management

Lam¹

2017

Implementing Enterprise Risk Management

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Section: Discussion Limitations and Future Researchsupporting

confidence: 87%

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Strategic Risk Management

Lam¹

2017

Implementing Enterprise Risk Management

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“…Although various approaches are applied in practice, the existing literature studies ERM at a high level of aggregation; several studies rely on data on the appointment of a Chief Risk Officer (CRO) as their sole indicator for the implementation of ERM (Beasley et al, 2008;Liebenberg and Hoyt, 2003;Pagach and Warr, 2011). Others use ordinal scales ranging from, 'no plans exist to implement ERM' to 'complete ERM is in place' to capture applied ERM approaches (Beasley et al, 2005;Paape and Speklé, 2012). While this research addresses neither the particularities of applied ERM approaches nor differences in approaches, it does demonstrate an increasing interest in analysing how ERM is applied in practice (Mikes, 2009;Wahlström, 2009).…”

Section: Entrepreneurship Risk Managementmentioning

confidence: 99%

Enterprise risk management in SMEs: Towards a structural model

Brustbauer

2014

International Small Business Journal: Researching Entrepreneurs

212

135

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This article analyses enterprise risk management (ERM) in small and medium-sized enterprises (SMEs) by developing a structural model based on a survey questionnaire. Preconditions for ERM implementation, applied ERM approaches and their effects on strategic orientation are derived. The results suggest that SMEs follow either an active or a passive ERM approach, which affects their strategic orientation; a passive approach results in a defensive strategy and an active approach, an offensive strategy. Firm size, sector affiliation and ownership structure influence the implementation of ERM. The applied conceptualization of ERM may help SMEs adjust to a changing environment to gain strategic advantage thus, increasing competitiveness and business success.

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“…Business owners are always frustrated when it comes to the intensity requirement or compliance with regulatory and financial matters couple with the decisions that have to do with the future of their businesses, progress achieved in business strategic objectives and timely risk mitigation activities [40]. As earlier mentioned many SMEs owners are not experienced in identifying, managing or mitigating risks fundamental to the success of their businesses which stem from the business philosophy of the owners [41].…”

Section: The Institution Of Risk Oversightmentioning

confidence: 99%