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Enterprise risk management : strategic antecedents, risk integration and performance
Recurso electrónico / electronic resource
Section: Articles
Title: Enterprise risk management : strategic antecedents, risk integration and performance / Yijia Lin, Min-Ming Wen, Jifeng YuAuthor: Lin, Yijia ‌
Notes: Sumario: The current literature on the adoption of enterprise risk management (ERM) abstracts from the issue of its strategic context. Accounting for the interplay between ERM and various individual risk management (IRM) practices, this paper presents a theoretical basis to study the strategic determinants, risk integration, and value creation of ERM. We tested hypotheses with data from the U.S. property and casualty insurance industry. Our results show that insurers with more reinsurance purchase and greater geographic diversification are more likely to adopt ERM. After ERM initiation, the magnitude of certain IRM adjustments is substantial. The market responds negatively to ERM adoption. ERM displays a strong negative correlation with firm value with a discount of 5% (4%) in terms of Tobins Q (ROA). Related records: En: North American actuarial journal. - Schaumburg : Society of Actuaries, 1997- = ISSN 1092-0277. - 01/03/2012 Tomo 16 Número 1 - 2012 , p. 1-28Materia / lugar / evento: Estrategias ‌Gerencia de riesgos ‌Evaluación de riesgos ‌ERM ‌Creación de valor en la empresa ‌Estados Unidos ‌Otros autores: Wen, Min-Ming ‌
Yu, Jifeng ‌
Other categories: 7
Rights: In Copyright (InC)
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