“…Research direction on the concept is still at an infancy stage (Bromiley, Mcshane, Nair & Rustambekov, 2015). It has mostly been directed to the factors driving its implementation (Aleisa, 2018;Bohnert, Gatzert, Hoyt & Lechner, 2018;Gatzert & Martin, 2015) and its relationship with firm performance (Anton 2018;Bohnert et al, 2018;Alawattegama 2018;Sayilir & Farhan 2017) with mixed results. provided for appropriate risk awareness, behavior, and judgment about risk-taking Financial Stability Board (FSB, 2014).…”