Risk governance: conceptualization, tasks, and research agenda

Volker Stein and Arnd Wiedemann ()
Additional contact information
Volker Stein: Universität Siegen
Arnd Wiedemann: Universität Siegen

Journal of Business Economics, 2016, vol. 86, issue 8, No 2, 813-836

Abstract: Abstract While risk management has been of fundamental interest to researchers and practitioners alike during the last decade, its limitations in today’s dynamically changing business environment become more and more obvious. A growing body of literature encourages and supports a clear differentiation between risk management and risk governance. Our contribution addresses the definition of risk governance from a general perspective. We do not intend to focus on a specific industry like financial institutions, but rather develop a more generic approach. By establishing the added benefits of a risk governance approach vis-a-vis corporate governance and risk management, we will develop a theoretical foundation covering a conceptual understanding and implicating major tasks. Risk governance bridges corporate governance and risk management and is fully aligned with the objective of long-term value optimization of companies. We will conclude by sketching out the risk governance research agenda ahead.

Keywords: Risk governance; Risk management; Corporate governance; Dynamic capabilities; Value optimization (search for similar items in EconPapers)
JEL-codes: D81 G34 M14 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
http://link.springer.com/10.1007/s11573-016-0826-4 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jbecon:v:86:y:2016:i:8:d:10.1007_s11573-016-0826-4

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/11573

DOI: 10.1007/s11573-016-0826-4

Access Statistics for this article

Journal of Business Economics is currently edited by Günter Fandel

More articles in Journal of Business Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().