From Risk to Value: A Systematic Review of the Value-creating Effect of Enterprise Risk Management

From Risk to Value: A Systematic Review of the Value-creating Effect of Enterprise Risk Management | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article From Risk to Value: A Systematic Review of the Value-creating Effect of Enterprise Risk Management Fengjia Liu, B. A. M. Hafizuddin-Syah, Maizatulakma Abdullah This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-8200269/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract Enterprise risk management (ERM) helps to enhance firm performance in the complex and volatile environment (COSO, 2017). Previous review (Horvey and Odei-Mensah, 2023) underlines the insufficient concern of ERM effect in developing economies, which motivating sustained academic interest in the value-creating effect of ERM. Hence, this study aims to present an undated map of the value-creating effect of ERM. Based on the analysis of 79 empirical studies (2000–2024), we find the main targeted region shift from developed economies to developing economies since 2016. Consistent with the mainstream findings of developed economies, the value-creating effect of ERM is well supported in developing economies. However, empirical findings remain divergent, particularly for studies in developing economies. Therefore, we encourage scholars to further explore the maturity and effect of ERM in developing economies. To achieve a deeper understanding of ERM practice, future research should be directed toward the value-creating mechanism of ERM. Enterprise risk management firm value systematic review Full Text Additional Declarations No competing interests reported. Supplementary Files Appendices.docx Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. 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