Normative Framework for Risk Governance IndexRisk governance index and Its Empirical Analysis

M. V. Shivaani (), P. K. Jain () and Surendra S. Yadav ()
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M. V. Shivaani: Indian Institute of Management (IIM), VNIT Campus
P. K. Jain: Indian Institute of Technology Delhi
Surendra S. Yadav: Indian Institute of Technology Delhi

Chapter Chapter 5 in Understanding Corporate Risk, 2019, pp 169-203 from Springer

Abstract: Abstract This chapter aims to provide a normative framework to measure the quality of risk governance structureGovernance structure . The index is based on 11 variables, namely, size of board, board diversityBoard diversity in terms of gender, proportion of executive directors, executive/non-executive status of Chairperson, proportion of independent directorsIndependent directors , CEO duality, chief risk officer (CRO), risk management committeeRisk management committee , mandatory committees, voluntary committees and existence/non-existence of whistle-blower policyWhistle-blower policy . The index has been then empirically computed for the sample 429 non-financial companies for each of the 10 years from 2005 to 2015. In addition, an aggregative analysis, focussing on phase-wise, age-wise, and industry-wise analysisIndustry-wise analysis has been carried out. Further, a disaggregative (variable-wise) detailed analysis has been carried out to develop a deeper understanding of elements that are essential to have a robust risk governance structure.

Keywords: Risk governance; Corporate governance; Risk management; Chief risk officer (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-13-8141-6_5

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DOI: 10.1007/978-981-13-8141-6_5

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