Emerging risks and business preparedness in the multifaceted risk landscape: evidence from Malaysian publicly listed companies

Nazliatul Aniza Abdul Aziz and Norlida Abdul Manab

International Journal of Business Continuity and Risk Management, 2022, vol. 12, issue 3, 189-207

Abstract: The recent outbreak of novel coronavirus (COVID-19) has been recognised as one of the 'black swan' event that poses challenges and global stress. Given the potentially devastating implications of novel coronavirus as a significant emerging risk, many companies have eventually experienced substantial losses that could threaten their survival. Hence, this study adopts triangulation approach to identify the emerging risks that are of greatest concern and commonly used techniques to address such risks among the publicly listed companies in Malaysia. The quantitative findings show that four key areas of emerging risks which are economic risk, environmental, risk, social risk and geopolitical risk are prioritised by the risk managers in their organisation. While, the qualitative findings indicate that strategic planning, key risk indicators (KRIs), business continuity plan and risk maps are commonly used methods to address emerging risks. Theoretically, the findings contribute to an understanding of the emerging risks and the techniques used to better assess the emerging risks present in the multifaceted risk landscape.

Keywords: emerging risks; triangulation; public listed companies; PLCs; multifaceted risk landscape; Malaysia. (search for similar items in EconPapers)
Date: 2022
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