Risk Management systems are used by nearly every company nowadays, also because of increasing regulatory requirements like the Sarbanes Oxley Act from 2002 or Solvency II from 2016. These frameworks call for an integrated perspective on firms' risk portfolios. Enterprise Risk Management (ERM) is a risk management system that considers risk on the entity level and is, therefore, an alternative to traditional, silo-based risk management approaches. This literature review compares the results of 25 empirical studies concerning the value-creating potential of ERM and whether companies might benefit from the implementation.
Table of contents
List of Abbreviations
List of Tables
1 Introduction
2 Methodology
3 Literature Review
3.1 Definition of ERM and differentiation from traditional risk management approaches
3.2 Research streams
3.3 Determinants of ERM implementation
3.4 Enterprise Risk Management and value creation
3.5 Comparison of the results with a prior literature review
4 Conclusion
References
Appendix
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