Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises
In recent years, Risk Management in respect of Enterprise-Wide Risk Management (EWRM) has become more important and highly critical to major corporations worldwide including Malaysia. In fact, it is interesting to note that when the Government of Malaysia passed the Code of Corporate Governance in t...
| Format: | Article |
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| Language: | English |
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University of Sistan and Baluchestan
2009-12-01
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| Series: | International Journal of Business and Development Studies |
| Subjects: | |
| Online Access: | https://ijbds.usb.ac.ir/article_1306_fca8a332946c9c233d5db7128dd276a3.pdf |
| _version_ | 1797803333401968640 |
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| collection | DOAJ |
| description | In recent years, Risk Management in respect of Enterprise-Wide Risk Management (EWRM) has become more important and highly critical to major corporations worldwide including Malaysia. In fact, it is interesting to note that when the Government of Malaysia passed the Code of Corporate Governance in the year 2000, most of the Public Limited Companies (PLCs) in Malaysia was struggling to implement the Risk Management program for their respective companies. The Malaysian Code of Corporate Governance (MCCG) actually holds the Board of Directors of these companies responsible to manage risks related to their businesses. Today, it is rather convincing to note that many of these companies have gradually moved from the Traditional Risk Management (TRM) approach to an Integrated Risk Management approach namely, Enterprise-Wide Risk Management (EWRM). The main objectives of this scholarly study are two-fold: (a) to examine the extent of EWRM practices by these PLCs and (b) to examine how EWRM could possibly enhance the overall economic value of these companies. This particular study incorporated an industry survey which included personal interviews with the Risk Managers or Chief Risk Officers (CROs) of twenty (20) PLCs under the Malaysian Bourse (previously known as the Kuala Lumpur Stock Exchange). These companies were selected based on the extensiveness of EWRM program undertaken. It must be mentioned that this study is the first study of its kind in Malaysia. Thus, the findings would undoubtedly provide an important insight into the EWRM practices within the industry concerned in terms of how EWRM actually contributed to the overall enhancement of economic value within the business enterprises of Malaysia |
| first_indexed | 2024-03-13T05:19:17Z |
| format | Article |
| id | doaj.art-8602e1407cf34bcfb8e6099de5170a9e |
| institution | Directory Open Access Journal |
| issn | 2538-3302 2538-3310 |
| language | English |
| last_indexed | 2024-03-13T05:19:17Z |
| publishDate | 2009-12-01 |
| publisher | University of Sistan and Baluchestan |
| record_format | Article |
| series | International Journal of Business and Development Studies |
| spelling | doaj.art-8602e1407cf34bcfb8e6099de5170a9e2023-06-15T16:53:33ZengUniversity of Sistan and BaluchestanInternational Journal of Business and Development Studies2538-33022538-33102009-12-0111839810.22111/ijbds.2009.13061306Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business EnterprisesIn recent years, Risk Management in respect of Enterprise-Wide Risk Management (EWRM) has become more important and highly critical to major corporations worldwide including Malaysia. In fact, it is interesting to note that when the Government of Malaysia passed the Code of Corporate Governance in the year 2000, most of the Public Limited Companies (PLCs) in Malaysia was struggling to implement the Risk Management program for their respective companies. The Malaysian Code of Corporate Governance (MCCG) actually holds the Board of Directors of these companies responsible to manage risks related to their businesses. Today, it is rather convincing to note that many of these companies have gradually moved from the Traditional Risk Management (TRM) approach to an Integrated Risk Management approach namely, Enterprise-Wide Risk Management (EWRM). The main objectives of this scholarly study are two-fold: (a) to examine the extent of EWRM practices by these PLCs and (b) to examine how EWRM could possibly enhance the overall economic value of these companies. This particular study incorporated an industry survey which included personal interviews with the Risk Managers or Chief Risk Officers (CROs) of twenty (20) PLCs under the Malaysian Bourse (previously known as the Kuala Lumpur Stock Exchange). These companies were selected based on the extensiveness of EWRM program undertaken. It must be mentioned that this study is the first study of its kind in Malaysia. Thus, the findings would undoubtedly provide an important insight into the EWRM practices within the industry concerned in terms of how EWRM actually contributed to the overall enhancement of economic value within the business enterprises of Malaysiahttps://ijbds.usb.ac.ir/article_1306_fca8a332946c9c233d5db7128dd276a3.pdfrisk managementermeconomic valuemalaysia |
| spellingShingle | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises International Journal of Business and Development Studies risk management erm economic value malaysia |
| title | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises |
| title_full | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises |
| title_fullStr | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises |
| title_full_unstemmed | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises |
| title_short | Enterprise-Wide Risk Management (EWRM) as a Value Added Tool in Enhancing the Economic Value of Business Enterprises |
| title_sort | enterprise wide risk management ewrm as a value added tool in enhancing the economic value of business enterprises |
| topic | risk management erm economic value malaysia |
| url | https://ijbds.usb.ac.ir/article_1306_fca8a332946c9c233d5db7128dd276a3.pdf |