The relationship between enterprise risk management, value and firm characteristics based on the literature

Bohnert, Alexander; Gatzert, Nadine; Hoyt, Robert; Lechner, Philipp

doi:10.1007/s12297-017-0382-1

Cited by 20 publications

(10 citation statements)

References 35 publications

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“…The output of the meetings is self-evaluation and feedback from the monitoring and evaluation process. This process captured by COSO framework standards [5] through implementation to the internal control in UPY. 5 this study elaborates on the alternative approach as a solution to reduce university governance risks.…”

Section: Research Resultsmentioning

confidence: 99%

“…Many business entities conduct a holistic approach to identify risk with Enterprise Risk Management (ERM). ERM implementation enhances risk awareness in an entity then increase decision-making ability to optimize business performance [5]. COSO Framework conduct risk management and internal control both involving financial and non-financial aspect.…”

Section: Introductionmentioning

confidence: 99%

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COSO’s Conceptual Framework to Internal Control Management Risk in Higher Education Management

Riyadi¹,

Yennisa²,

Sagita³

2021

Proceedings of the 2nd International Conference on Educational Development and Quality Assurance, ICED-QA 2019, 11 September 20

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Ministry of Research, Technology and Higher Education of the Republic of Indonesia (Kemenristekdikti) establish five elements to conduct economic growth and country competitiveness in industry revolution 4.0 through the integration of university governance to academic behavior. Kemenristekdikti synergize the gap between the high tech digitalization era and higher education with external quality assurance system (SPME) and internal quality assurance system (SPMI) policy. UPY conducts internal evaluation using Internal -external matrix analysis (IE Matrix) to strengthen up the management and governance. The result is that UPY needs intensive and stable program implementation to achieve the whole key performance indicator. This study is qualitative research and conduct with a case study in UPY using COSO's Framework conduct risk management and internal control in UPY. This study adopts three stages to conduct case study research. The result can be used and as a reference to the other Higher Education (University) in the same quadrants with UPY (B Institution Accredited by BAN PT). This study suggests that COSO Framework implementation that integrated with Internal Quality This study suggests that COSO Framework implementation that integrated with Internal Quality Assurance can enhance Higher Education performance from internal control, risk assessment, and effective monitoring process.

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Section: Research Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

COSO’s Conceptual Framework to Internal Control Management Risk in Higher Education Management

Riyadi¹,

Yennisa²,

Sagita³

2021

Proceedings of the 2nd International Conference on Educational Development and Quality Assurance, ICED-QA 2019, 11 September 20

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“…Besides considering ClimateRO as a major independent variable, we further consider a number of other commonly applied independent variables for firm value. Hoyt and Liebenberg (2011) and Bohnert et al (2017) provide an extensive review of firm value determinants in this context (see also Bohnert et al 2019a, b). Thus, in addition to the already defined firm characteristics Size and Leverage, the three independent variables Return on Assets (ROA), Dividends and SalesGrowth are added to the regression analysis.…”

Section: Empirical Methodology and Hypotheses Development For The Value Effect Of Being Aware Of Climate Risks And Opportunitiesmentioning

confidence: 99%

Awareness of climate risks and opportunities: empirical evidence on determinants and value from the U.S. and European insurance industry

Gatzert

Reichel

2021

Geneva Pap Risk Insur Issues Pract

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In this paper, we study the awareness of European and U.S. insurance companies of climate-related risks and opportunities using a respective indicator from the Refinitiv Eikon database that uses reporting data. Based on this, we examine the determinants and value of the awareness of business risks and opportunities resulting from climate change, which, to the best of our knowledge, has not been done so far, despite its increasing and specific relevance for the insurance industry. We use a logistic regression analysis as well as a linear fixed effects model for a 10-year period from 2009 to 2018. Our results show that larger European insurers are significantly more likely to exhibit such awareness. When controlling for subsectors, property & casualty insurers tend to be aware of the risks and opportunities resulting from climate change. Moreover, when using the linear fixed effects model, we find a statistically significant positive value effect on Tobin’s Q.

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“…In accordance with the ERM conception, risk in an enterprise is treated in a comprehensive and multi-faceted manner (Malinowska, 2011, p. 69). This means the necessity of coherent and comprehensive management of all risks to which an organization is exposed, including all business units, taking into account the links that may exist between individual risks (Bohnert et al, 2017;Bromiley et al, 2015).…”

Section: Enterprise Risk Management-the Basic Assumptions Of the Conc...mentioning

confidence: 99%

The evolution of risk management

Przetacznik¹

2022

ZN MWSE w Tarnowie

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The aim of this paper is to present the evolution of approaches towards risk management, starting from the beginnings of this field and ending with modern times. The article provides an overview on the applied approaches towards risk management. It allows to understand the basics of contemporary risk management concepts in enterprises and can provide guidance for further research on risk. The author analyzes in detail the change in approaches towards risk management over the years, focusing in particular on traditional, silo risk management and on the most modern concept—ERM, currently considered the most mature and the most perfect, proactive approach towards risk management in an enterprise. Silo risk management treats individual risks independently and focuses on minimizing risk exposure, while the essence of ERM is the integrated management of all risks to which the organization is exposed and the inclusion of risk management in the organization’s strategy.

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The relationship between enterprise risk management, value and firm characteristics based on the literature

Cited by 20 publications

References 35 publications

COSO’s Conceptual Framework to Internal Control Management Risk in Higher Education Management

COSO’s Conceptual Framework to Internal Control Management Risk in Higher Education Management

Awareness of climate risks and opportunities: empirical evidence on determinants and value from the U.S. and European insurance industry

The evolution of risk management

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