Empirical Examination of Enterprise Risk Management's Value Creation Mechanism

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Provided by: WSEAS
Topic: Data Management
Format: PDF
In this paper, the authors espouse an Enterprise Risk Management (ERM) implementation framework which encompasses 3 dimensions that comprised of 7 areas, which in turn made up of 14 elements. This paper also empirically examines the value creation transmission mechanism of ERM implementation. Unlike the neo-classical finance theory, the espoused ERM framework underscores the idea of managing firms' unsystematic (specific) risk that leads to the enhancement of shareholders' value. The mechanism through which the firms' value enhancement takes place is theorized by a strategic conceptualization of risk premium model.
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