scholarly journals Risk Management Practices Adopted by European Financial Firms with a Mediterranean Connection

2019 ◽  
Author(s):  
Simon Grima ◽  
Frank Bezzina
Keyword(s):  
Risk Management ◽  
Management Practices ◽  
Financial Firms

Risk management practices adopted by financial firms in Malta

2014 ◽  
Vol 40 (6) ◽  
pp. 587-612 ◽  
Author(s):  
Frank Bezzina ◽  
Simon Grima ◽  
Josephine Mamo
Keyword(s):  
Risk Management ◽  
Competitive Advantage ◽  
Corporate Culture ◽  
Financial Stability ◽  
Management Practices ◽  
Added Value ◽  
Small Island ◽  
Content Type ◽  
Corporate Strategies ◽  
Financial Firms

Purpose – The purpose of this paper is to bring to light the risk management practices adopted by financial firms in the small island state of Malta. It seeks to: first, identify the risk management strategies and mechanisms that these firms adopt to manage risks, maximise opportunities, and maintain financial stability; second, determine whether these practices are perceived as contributing to principled performance; third, examine the extent to which risk management capabilities offer competitive advantage to firms, and fourth, investigate whether corporate social responsibility (CSR) is a key driver of risk management corporate strategies. Design/methodology/approach – A self-administered questionnaire purposely designed for the present study was distributed among the 156 credit institutions, investment firms and financial institutions registered with the Malta Financial Services Authority. Overall, 141 firms participated in the study (a response rate of 90.4 per cent) and the responses were subjected to statistical analysis in an attempt to answer four research questions. Findings – Maltese financial firms have sound risk management practices that link positively with added value and principled performance. Although competitive advantage has been given less weight by these firms, the implemented risk management mechanisms allow for a strong risk culture, defined risk management goals, accountability and continual improvement. CSR forms part of the firms’ risk management corporate strategies and is valued as part of these firms’ corporate culture, while financial/economic factors are viewed as key in driving effective risk management principles. Originality/value – The study provides empirical evidence that securing “best practice” in firms’ risk management corporate culture is seen as better predicated on maximising financial advantage (“the instrumental driver”) rather than simply reflecting externally imposed standards (“the compliance driver”).

The Impact of Shariah Governance and Corporate Governance on the Risk Management Practices: Evidence from Local and Foreign Islamic Banks in Malaysia

2018 ◽  
Vol 15 (2) ◽  
pp. 1-20
Author(s):  
Sabri Embi ◽  
Zurina Shafii
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Management Practices ◽  
Principal Component ◽  
T Test ◽  
The Body ◽  
Primary Data ◽  
Islamic Banks ◽  
Shariah Governance ◽  
The Impact

The purpose of this study is to examine the impact of Shariah governance and corporate governance (CG) on the risk management practices (RMPs) of local Islamic banks and foreign Islamic banks operating in Malaysia. The Shariah governance comprises the Shariah review (SR) and Shariah audit (SA) variables. The study also evaluates the level of RMPs, CG, SR, and SA between these two type of banks. With the aid of SPSS version 20, the items for RMPs, CG, SR, and SA were subjected to principal component analysis (PCA). From the PCA, one component or factor was extracted each for the CG, SR, and RMPs while another two factors were extracted for the SA. Primary data was collected using a self-administered survey questionnaire. The questionnaire covers four aspects ; CG, SR, SA, and RMPs. The data received from the 300 usable questionnaires were subjected to correlation and regression analyses as well as an independent t-test. The result of correlation analysis shows that all the four variables have large positive correlations with each other indicating a strong and significant relationship between them. From the regression analysis undertaken, CG, SR, and SA together explained 52.3 percent of the RMPs and CG emerged as the most influential variable that impacts the RMPs. The independent t-test carried out shows that there were significant differences in the CG and SA between the local and foreign Islamic banks. However, there were no significant differences between the two types of the bank in relation to SR and RMPs. The study has contributed to the body of knowledge and is beneficial to academicians, industry players, regulators, and other stakeholders.

Effect of Enterprise Risk Management on Firm Value: Empirical Evidence from Non-Financial Firms in Pakistan

GIS Business ◽  
1970 ◽  
Vol 13 (2) ◽  
pp. 15-28
Author(s):  
Nouman Nasir
Keyword(s):  
Risk Management ◽  
Firm Value ◽  
Positive Impact ◽  
Stock Exchange ◽  
Enterprise Risk Management ◽  
Least Square ◽  
Return On Equity ◽  
Financial Firms ◽  
Enterprise Risk ◽  
Ordinary Least Square Regression

This research examines the effect of enterprise risk management on firm value in Pakistan. Further, this study empirically examines company characteristics that establish the execution of an enterprise risk management system. Using a sample of final dataset of 83 non-financial firms located in Pakistan. The sample included non-financial firms from the year 1999 to 2015 and so up to seventeen observation years per company. As in context of Pakistan, most of the organizations are already implement an ERM programs and establish specialized ERM departments because the ERM is now a global term and has become increasingly relevant because of the growing difficulty of risk and an additional development of regulatory frame works. For the empirical evidences, data collected from non-financial firms listed at the Pakistan Stock Exchange (PSX). Results of logistic regression shows that Capital Opacity, Profitability, Financial Leverage, Firm Size and Slack have positive impact on the implementation of an ERM system but Industrial diversification, Industry and Return on Equity are negatively related to an ERM engagement. The results of ordinary least square regression finds positive relationship between use of an ERM and firm value.

RISK MANAGEMENT PRACTICES IN ISLAMIC BANKING INSTITUTIONS: A COMPARATIVE STUDY BETWEEN MALAYSIA AND INDONESIA

2016 ◽  
Vol 72 (12) ◽  
Author(s):  
Rashidah Abdul Rahman ◽  
Zuraeda Ibrahim ◽  
Achmad Tohirin ◽  
Aliyu Dahiru.Muhammad,Rossje Vitariamettawaty Suryaputri
Keyword(s):  
Risk Management ◽  
Comparative Study ◽  
Management Practices ◽  
Islamic Banking ◽  
Banking Institutions

scholarly journals Risk Management in nursing homes: an Italian experience in 2019

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
M F Furmenti ◽  
F Bert ◽  
M Rucci ◽  
U Fiandra ◽  
A Scarmozzino ◽  
...  
Keyword(s):  
Risk Management ◽  
Nursing Homes ◽  
Management Practices ◽  
Well Being ◽  
The Elderly ◽  
Management Plan ◽  
Management Policy ◽  
Insurance Company ◽  
Term Care ◽  
Starting Point

Abstract Background The ageing of the European population leads to an increasing demand for Long-Term Care services. The security and well-being of the elderly population hosted in nursing homes (NHs) needs an effective Risk Management policy, officially sanctioned in Italy by the so-called “Legge Gelli” n.24 (March 8th, 2017) and the Directive 2011/24/EU on the application of patients' rights in cross-border healthcare. In order to verify the effective application of common “best practices” in terms of Risk Management in NHs, a tool useful to analyse risk management attitudes in Northern Italy was conceived and applied in a sample of NHs. Methods The tool, developed in collaboration with the health insurance company SHAM Italia, is composed of 124 items (with a dichotomous answer -YES/NO) on topics related to various Risk Management practices. This tool was submitted in a face-to-face interview to several Directors (Health Directors or Nursing Coordinators) of NHs in the Piedmont Region. A list of randomly-chosen NHs was contacted: 4 of them were selected for the pilot study and compiled the questionnaire. Answers were gathered and analyzed through Microsoft Excel. Results Only the 25% of NHs has a Risk Management plan with objectives and indicators of effectiveness and uses Risk Analysis instruments for a pre- and post-” risk detection. Only one has employees working mainly on Risk Management alone. The 75% of the reported events were “Adverse Events”, and all the NHs (100%) have a protocol for a patient voluntary departure or for fall prevention or for bedsores prevention; while 50% have a protocol for prevention of aggressions towards operators or for patients' suicide prevention. Conclusions This work provides a starting point to face new challenges that are looming on the European Health-care Systems: the care for the elderlies needs to be perfected to reduce inefficiencies, cut useless costs and improve safety of patients in the NHs setting. Key messages Despite safety of older patients in nursing homes is not only important but mandatory in Italy, risk management tools for this setting are lacking in literature. A new tool applied in Italian nursing homes showed that risk management needs to be implemented in practice and these results can be extended to European context.

Cybersecurity and the new firm: surviving online threats

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vallari Chandna ◽  
Praneet Tiwari
Keyword(s):  
Risk Management ◽  
Data Privacy ◽  
Small Firms ◽  
Management Practices ◽  
Privacy Management ◽  
Privacy Risk ◽  
Entrepreneurial Ventures ◽  
Content Type ◽  
New Firm ◽  
Established Firms

Purpose Nascent firms and startups are often subject to challenges that their more mature counterparts can avoid. While cybersecurity is an issue that all firms contend with, it is especially challenging for new entrepreneurial ventures who lack the resources and capabilities of established firms. The purpose of this paper is to seek to delve deeper into the cybersecurity and risk management needs of small firms and startups. Design/methodology/approach Extant literature and available tools are explored to develop a usable framework applicable to small firms and new entrepreneurial ventures. Findings The liabilities of newness and smallness make entrepreneurial ventures a unique context in which to study the significance of cybersecurity and data privacy risk management. The authors offer an overview of issues and potential solutions relevant to entrepreneurial ventures. Research limitations/implications While offering practical insights, the work is a theoretical framework. The framework will enable researchers to develop more nuanced theory when it comes to cybersecurity and data privacy risk management. Practical implications The framework illustrates four distinct contexts for cybersecurity and risk management when it comes to the needs of small firms and startups. Adoption levels are explained, and small business operators and entrepreneurs can thus use the framework to determine the most appropriate approach for their enterprise. Originality/value The authors develop a framework illustrating adoption of different security and risk management practices by entrepreneurial ventures based on their specific needs and context. The authors thus offer practical solutions for startups and nascent firms regarding cybersecurity and privacy management.

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