Risk Management in Corporate Governance Framework

Hania Rehman, Muhammad Ramzan, Muhammad Zia Ul Haq, Jinsoo Hwang and Kyoung-Bae Kim
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Hania Rehman: Multan Campus, Air University Islamabad, Multan 66000, Pakistan
Muhammad Ramzan: Multan Campus, Air University Islamabad, Multan 66000, Pakistan
Muhammad Zia Ul Haq: Multan Campus, Air University Islamabad, Multan 66000, Pakistan
Jinsoo Hwang: The College of Hospitality and Tourism Management, Sejong University, Seoul 143-747, Korea
Kyoung-Bae Kim: Department of Tourism Management, Dong-A University, Busan 49236, Korea

Sustainability, 2021, vol. 13, issue 9, 1-17

Abstract: There is a scarcity of literature involving studies about the effect of risk management on the relationship between corporate governance and a firm’s financial performance, especially in emerging markets. The study fills this gap and adds to the existing literature by investigating whether risk management acts as a mediator between corporate governance and the firm’s financial performance. This study found that risk management partially mediates the relationship between board size and financial performance. Our results further indicate that risk management acts as a partial mediator between foreign ownership and financial performance.

Keywords: corporate governance; risk management; financial performance; agency theory; mediation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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