Enterprise Risk Management: Evidence from High and Non High-performance Firms in US’s Banking Industry
Date Issued
2011
Date
2011
Author(s)
Yani
Abstract
Enterprise Risk Management (ERM) is not a novel notion today, but there is still a lingering question whether ERM affects value (or performance) positively. Despite of numerous rationales to explain the indecisive findings, this study takes an alternative means by looking into ERM in high and non high-performance firms. Harnessing streams of prior studies of ERM’s determinants and effects, the study examines if firms’ ERMs discriminated based on performance are different. The study finds that high-performance firms are not completely discouraged to disclose ERM activities; even they show separate motivations. Then, the study also reveals that ERM in high-performance firms outperforms ERM in non high-performance firms, particularly in terms of value creation. Provided ERM is only considered to be applied when it can enhance value/performance, the finding suggests that ERM in high-performance firms can be set as a benchmark of good ERM.
Subjects
ERM
high-performance firms
ERM’s determinants and effects
Type
thesis
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