scholarly journals Analisis Manfaat Ekonomi dan Identifikasi Risiko Investasi Sistem Treasury Dealing Room (TDR): Studi Kasus Direktorat Jenderal Perbendaharaan

2018 ◽  
Vol 3 (3) ◽  
pp. 202-218
Author(s):  
Bagus Utomo
Keyword(s):  
Risk Management ◽  
Economic Benefits ◽  
Enterprise Risk Management ◽  
It Business Value ◽  
Integrated Framework ◽  
Enterprise Risk ◽  
Directorate General ◽  
Potential Risks ◽  
The Cost ◽  
Total Project

Minister of Finance has authority to manage state finances covering cash and securities. To increase Non-Tax State Revenue and reduce the cost of funding, the Directorate General of Treasury build Treasury Dealing Room (TDR). The Budget for information system/information technology (IS/IT) is 74% of the total project budget. This study aims to analyze economic benefits of TDR system investment. Generic IS/IT business value table is used to identify the benefits for the organization and digital prosperity framework for the country. Systems dynamics is used to analyze the interrelationship between business benefits to obtain key business benefits. Quantification is based on IT metrics and assumptions on calculating the value of TDR funds. This research also identifies risks using COSO Enterprise Risk Management-Integrated Framework. Thematic analysis is used to process qualitative data. The results show that investment of TDR systems can reduce the cost of money (RCO-09), increasing revenue caused by increasing business capacity (IRE-01) and widening market segment (IRE-04). The total value of benefits for five years amounted to Rp655.294.873.957. The benefits for the country are increasing efficiency and a larger and more efficient market. Eleven potential risks covering regulatory, coordination, technology, and human resources aspects are obtained.   Menteri Keuangan bertugas mengelola keuangan negara yang mencakup kas dan surat berharga. Untuk meningkatkan Penerimaan Negara Bukan Pajak serta mengurangi biaya menghimpun dana, Direktorat Jenderal Perbendaharaan berinisiatif membangun Treasury Dealing Room (TDR). Anggaran investasi sistem informasi/teknologi informasi (SI/TI) mencapai 74% dari total biaya proyek. Penelitian ini bertujuan menganalisis manfaat ekonomi investasi sistem TDR. Metode yang digunakan untuk identifikasi manfaat bisnis bagi organisasi adalah tabel manfaat bisnis SI/TI generik, sedangkan kerangka pikir kesejahteraan digital digunakan untuk identifikasi manfaat bagi negara. Pendekatan system dynamics digunakan untuk menganalisis keterkaitan antar manfaat bisnis sehingga diperoleh manfaat bisnis utama. Kuantifikasi dilakukan berdasarkan metrik TI dan asumsi-asumsi perhitungan nilai dana TDR. Penelitian ini juga melakukan identifikasi risiko menggunakan COSO Enterprise Risk Management-Integrated Framework. Analisis tematik digunakan untuk mengolah data yang bersumber dari wawancara, diskusi, dan studi dokumen. Hasil penelitian menunjukkan bahwa investasi sistem TDR mampu mengurangi biaya uang/bunga pinjaman (RCO-09), meningkatkan pendapatan yang disebabkan oleh meningkatnya kapasitas bisnis (IRE-01) dan segmentasi pasar (IRE-04). Total nilai manfaat ekonomi selama lima tahun sebesar Rp655.294.873.957. Manfaat investasi sistem TDR bagi negara yaitu meningkatkan efisiensi dan pasar yang lebih luas dan efisien. Berdasarkan identifikasi risiko, diperoleh sebelas potensi risiko yang mencakup aspek peraturan, koordinasi, teknologi, dan Sumber Daya Manusia.

Enterprise Risk Management and the Cost of Capital

2016 ◽  
Vol 85 (1) ◽  
pp. 159-201 ◽  
Author(s):  
Thomas R. Berry-Stölzle ◽  
Jianren Xu
Keyword(s):  
Risk Management ◽  
Cost Of Capital ◽  
Enterprise Risk Management ◽  
Enterprise Risk ◽  
The Cost

scholarly journals The Impact of the Adoption of Enterprise Risk Management on the Industrial Financial Performance

2017 ◽  
Vol 6 (6) ◽  
pp. 9-20
Author(s):  
Kingsley Karunaratne Alawattegama
Keyword(s):  
Risk Management ◽  
Firm Performance ◽  
Firm Value ◽  
Positive Impact ◽  
Value Relevance ◽  
Secondary Data ◽  
Enterprise Risk Management ◽  
Integrated Framework ◽  
Enterprise Risk ◽  
The Impact

Enterprise risk management (ERM) has gained an increased attention during the recent past as an integrated approach to manage risk for creating and preserving firm value. The objective of this study is to explore and empirically verify as to whether the adoption of the ERM has an impact on the firm performance. This study uses both primary and secondary data pertaining to 129 companies listed on the Colombo Stock Exchange under the banking & finance, insurance, diversified, manufacturing, food and beverage and chemical and pharmaceutical sectors. Primary and secondary data are collected by distributing a survey questionnaire and analyzing the published financial statements of the observing companies. Researcher adopts ERM integrated framework suggested by the committee of sponsoring organization (COSO) of the Treadway Commission of the USA to assess the value relevance of ERM and uses return on equity (ROE) as a proxy to measure the firm performance. This study finds, except for control activities, none of the key ERM functions, suggested by the COSO’s ERM integrated framework, has a significant impact on the performance of listed companies. Internal environment, objective setting, and information & communication indicated a weak positive impact on the firm performance. Nevertheless, none of those impacts were statistically significant. Empirical evidence reveals that firms’ risk responding strategies have no impact on the performance. Surprisingly, monitoring of ERM functions has weak negative, but not significant, impact on the firm performance. These findings are contradictory with the theoretical expectation that the adoption of ERM practices has a positive impact on firm performance as confirmed by the prior researchers.

scholarly journals Does Good Corporate Governance Mediate Risk Management Implementation and Financial Performance of Indonesian Commercial Banks?

2021 ◽  
Vol 56 (3) ◽  
pp. 457-472
Author(s):  
Haryetti Haryetti ◽  
Andewi Rokhmawati
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Financial Performance ◽  
Banking Sector ◽  
Risk Mitigation ◽  
Enterprise Risk Management ◽  
Good Corporate Governance ◽  
Enterprise Risk ◽  
Risk Appetite ◽  
Potential Risks

This study examines the effect of risk management implementation on financial performance mediated by good corporate governance in the banking sector. The research design is quantitative research, which employs a mediating regression analysis in which good corporate governance is a mediating variable between risk management implementation and financial performance. By using a purposive sampling technique, this study includes 21 banks listed on the Indonesian Stock Exchange. The research results are that enterprise risk management implementation has a significant positive effect on good corporate governance. Enterprise risk management implementation has no significant impact on financial performance. Good corporate governance has a significant influence on financial performance. Finally, good corporate governance mediates enterprise risk management on financial performance. The contribution of this research is laid on the usage of content analysis to identify what kinds of banks' risks have a potency to expose banks to particular risks, as well as the examination of the role of good corporate governance as a mediating variable of the effect of risk management on financial performance. Banks should explicitly provide some information about the potential risks, risk appetite, risk measurement, and potential risk mitigation. Information on how the Good Corporate Governance responds to the foreseen potential risks is recommended.

scholarly journals Enterprise Risk Management between Network Capacity and Performance of Public Higher Education: A Proposed Framework

2019 ◽  
Vol 8 (2S3) ◽  
pp. 410-413
Keyword(s):  
Higher Education ◽  
Risk Management ◽  
Best Practice ◽  
Network Capacity ◽  
Enterprise Risk Management ◽  
Management Technique ◽  
Public Higher Education ◽  
Enterprise Risk ◽  
Potential Risks ◽  
And Performance

Most of the countries and organizations were implementing Enterprise Risk Management or known as ERM as it is already been introduced many years ago because it gives positive contributions towards the performance. It is also a way to help organizations manage the risks to achieving better results. About ten years ago, it has been implemented in Malaysia and being recommended to use it as a tool in an organization in order to recover the potential risks. ERM is regarded as an effective risk management technique and rapidly becomes the standard of best practice. Therefore, the variables that will affect the ERM implementation in an organization should be taken into account. Hence, this paper aim to propose a framework that will explains the relationship between network capacity and organization’s performance. This relationship will be mediated by ERM implementation and this paper will be focusing on Malaysian Public Higher Education, which are 20 institutions that listed under the Ministry of Higher Education (MOHE).

scholarly journals The Impact of Enterprise Risk Management on Firm Performance: Evidence from Sri Lankan Banking and Finance Industry

2017 ◽  
Vol 13 (1) ◽  
pp. 225
Author(s):  
Kingsley Karunaratne Alawattegama
Keyword(s):  
Risk Management ◽  
Firm Performance ◽  
Firm Value ◽  
Positive Impact ◽  
Enterprise Risk Management ◽  
Integrated Framework ◽  
Banking And Finance ◽  
Finance Industry ◽  
Enterprise Risk ◽  
The Impact

This study explores the impact of the adoption of enterprise risk management (ERM) practices on firm performance. A sample of forty five banking and finance companies listed on the Colombo Stock Exchange (CSE) was selected for this study and uses both primary and secondary data for the empirical analysis. The extent of adoption of ERM practices was assessed by using the ERM integrated framework of committee of sponsoring organization (COSO) of the Treadway Commission of USA. Return on equity (ROE) is used as a proxy to measure the firm performance and uses multivariate regression analysis to assess the impact of key ERM functions on firm performance. This study finds none of the eight key ERM functions suggested by the COSO’s ERM integrated framework has a significant impact on firm performance. Event identifications, risk assessment, risk response and information & communication indicate a positive impact on firm performance. However, none of those impacts were significant. Surprisingly, empirical evidence reveals that objective setting; event identification, control activities and monitoring of ERM functions have a negative, but not significant, impact on the firm performance. These findings induce the corporate managers to pay a close attention to the cost-benefits considerations when designing and implementing ERM practices and not heavily relied upon and extensively invest on ERM as a vehicle for creating firm value.

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