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Enterprise risk management (ERM) implementation: some empirical evidence from large Australian companies

Citation

Ahmad, S and Ng, C and McManus, L, Enterprise risk management (ERM) implementation: some empirical evidence from large Australian companies, Procedia - Social and Behavioral Sciences, 18-19 August 2014, Kuala Lumpur, Malaysia, pp. 541-547. ISSN 1877-0428 (2014) [Refereed Conference Paper]


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Copyright 2014 The authors Creative Commons CC BY-NC-ND license

Official URL: https://www.sciencedirect.com/science/article/pii/...

DOI: doi:10.1016/j.sbspro.2014.11.144

Abstract

According to Economist Intelligence Unit (Economist Intelligence Unit Limited and SAS, 2008), risk management failure is one of the major triggers of the recent global financial crisis. Enterprise risk management (ERM), an organisation wide process which identifies potential adverse events and provides strategies to manage risks, has been suggested as an approach to combat the volume and complexities of the risks faced by today's organisations (see, for example, Beasley et al., 2009). Despite of the recent emphasis given to risk management by the Australian Securities Exchange (ASX), there is scant empirical evidence on ERM implementation among the Australian listed companies. This study aims to provide some evidence on the extent of ERM implementation among the Top 300 companies listed on ASX. Questionnaires were used to collect data for this study. The outcomes of the study show that the majority of the firms involved in the survey not only extensively implement ERM but also extensively embed ERM into their corporate strategic processes. Further, they have also implemented the system for more than five years. Potential limitation of these findings are acknowledged.

Item Details

Item Type:Refereed Conference Paper
Keywords:enterprise risk management, ERM, ERM implementation, corporate governance, chief risk officer, CRO
Research Division:Commerce, Management, Tourism and Services
Research Group:Banking, Finance and Investment
Research Field:Investment and Risk Management
Objective Division:Commercial Services and Tourism
Objective Group:Financial Services
Objective Field:Financial Services not elsewhere classified
UTAS Author:McManus, L (Professor Lisa McManus)
ID Code:131819
Year Published:2014
Web of Science® Times Cited:5
Deposited By:TSBE
Deposited On:2019-04-08
Last Modified:2019-06-26
Downloads:1 View Download Statistics

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