
Analysis of the impact of strategic risk management on financial performance
Emerald insight Ltd ePublications
Item Record
Preview Book
Publication Year | 2022 |
Publication Month | June |
Volume Number | 39 |
Issue Number | Issue 1 |
Pages | 38-51 |
Journal Title | Advances in Strategic Management: A Research Annual |
Author(s) | |
Author Affiliation(s) |
|
Affiliation(s) | Professor of Management and Organizations, New York University Stern School of Business |
ISSN | 0742-3322 |
Indexed By | Emerald insight Ltd Online |
Language | English |
Accreditation(s) |
|
Full Text | Full Text.pdf |
Abstract
Financial performance is the determining factor of the organization's ability and actions to control risk and financial risks on the way to more financial resources. Since risk management includes culture and leadership styles and is strengthened by strategic accountability and plans implements strategy. Combining strategic risk management performance evaluation as an integral part of governance can make it more effective in terms of the financial goals it seeks to achieve and is of particular importance. Therefore, the current research was conducted with the aim of reviewing and analyzing the impact of strategic risk management on financial performance. The results of the surveys indicate that the performance of strategic risk management is a key and important factor in the financial performance of organizations, which sets a more specific path for organizations to control and identify risk. Considering the importance of the topic, the main goal of the current research, which is based on a wide review of related theoretical and empirical literature and library resources, is to review and analyze the strategic performance of risk management. This research is a descriptive type of research and based on the analysis of the research and literature, the results of the research revealed that strategic risk management integrates effective risk processes with known processes based on risk management experience. The performance of strategic risk management shows that the goal is not only the central risk department, but the creation of an effective risk management system that formulates the appropriate strategy for the organization so that financial performance can be improved and more financial resources will enter the organization.
|