ERM Related Research
The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One
Journal of Applied Corporate Finance, Volume 17, Number 3, pp. 18-31.
Tom Aabo, Aarhus School of Business
John R.S. Fraser, Hydro One, Inc.
Betty Simkins, Oklahoma University
Enterprise Risk management and the Strategy-Risk-Focused Organization
Cost Management, May/June 2006, pp. 32-38.
William G. Shenkir, University of Virginia
Paul L. Walker, University of Virginia
In a strategy and risk-focused organization, the Balanced Scorecard BSC) integrated with ERM is a means for executive management to cascade the company’s strategy throughout the organization and to identify and manage the risks associated with the scorecard’s value drivers.
The Effect of Corporate Governance on the Use of Enterprise Risk Management
Risk Management and Insurance Review, 2003, Vol. 6, No. 1, pp. 55-73
Anne E. Kleffner, University of Calgary
Ryan B. Lee, University of Calgary
Bill McGannon, consultant, Risky Business, Calgary, Canada
Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry
The Journal of Finance, Vol. LI, No. 4, September 1996
Peter Tufano, Harvard Business School
The Determinants of Enterprise Risk Management: Evidence from the Appointment of Chief Risk Officers
Risk Management and Insurance Review, 2003, Vol. 6, No. 1, pp. 37-52
Andre P. Liebenberg, University of Georgia
Robert E. Hoyt, University of Georgia
Conference Board Releases Research Report About Boards and ERM
The Role of the U.S. Corporate Board of Directors in Enterprise Risk Management, Report # 1390, The Conference Board
The Conference Board issued a July 2006 research report, “The Role of U.S. Corporate Boards in Enterprise Risk Management,” that provides insights about board of director perspectives on their role in overseeing enterprise risk management processes at organizations where they serve. Mark Beasley, NC State’s ERM Initiative Director, served as a member of the Advisory Board for the Project.
Based on a research approach that involved personal interviews with 30 board members, analysis of Fortune 100 board committee charters, and a broad survey of 127 board members, the report finds that while ERM processes have improved in some companies, directors serving on multiple boards reported significant variations in the quality of risk dialogue and fewer boards seem to have well-established risk processes. Only 54% have clearly defined risk tolerances and only 47.6% of the boards rank key risks. Almost 50% of the directors would like to see more data analysis related to the company’s risk profile.
ERM Initiative’s Research On Emerging Risks for 2013
Recent research conducted by the ERM Initiative at NC State University in partnership with Protiviti, Inc. finds that executives across all types and sizes of organizations that span a number of industries believe risks related to regulatory changes and increased regulatory scrutiny, global economic conditions, and unstable political climates in markets worldwide represent the greatest threats to growth opportunities for 2013.
This just released report, Executive Perspectives on Top Risks for 2013, summarizes the top risks that executives and board members see on the horizon for 2013 and it provides an analysis of top risk concerns across a number of industries and sizes of organizations. The report is a reminder of the need to devote more resources to risk management and risk oversight given the complexities and risks within the global business environment.
Download the ERM Initiative’s Research On Emerging Risks for 2013 Report
Download the Summary Report
Listen to the Podcast discussing key findings.