Enterprise-wide risk management best practices: The critical success factors
This paper examines the critical success factors of effective Enterprise-Wide Risk Management (EWRM) practices that have an effect on shareholder value. Financial and non-financial companies of Public Listed Companies (PLCs) of service sector had been chosen as a population to determine the crucia...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Ontario International Development Agency
2012
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/15902/1/SSRN-id2054977.pdf http://repo.uum.edu.my/15902/ http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2054977 |
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| Institution: | Universiti Utara Malaysia |
| Language: | English |
| Summary: | This paper examines the critical success factors of effective Enterprise-Wide Risk Management (EWRM) practices that have an effect on shareholder value. Financial and non-financial companies of Public Listed Companies (PLCs) of
service sector had been chosen as a population to
determine the crucial factors that should be
considered for a success implementation of EWRM.
A triangulation approach was adopted to get an
enriched data collection and analysis for the study.From a survey on 14 financial companies and 41 non financial companies and 4 companies of a case study, it is found that organisational culture is a most critical factor which contributes more to a success implementation of EWRM and has an effect on shareholder value. Significantly, the function and the effectiveness of other critical success factors were
depended on strong organisational culture. The other EWRM critical success factors identified were risk management base, compliance, resource, cross functional staff, knowledge management, and
authority or power. |
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