Insights from the Boardroom: Opening the ‘Black Box’ of Board Risk Oversight

Regine Slagmulder ()
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Regine Slagmulder: Vlerick Business School

A chapter in Risk Management, 2022, pp 169-191 from Springer

Abstract: Abstract Board risk oversight has received increased attention in both the academic and the corporate world. Despite the growing importance of the topic, little evidence exists on how risk oversight is carried out by the board as a decision-making group. We develop an integrated model of how structural risk oversight attributes (board composition, risk governance structure, and risk reporting to the board) impact board effectiveness (in particular, strategic role performance) through their intermediate relationship with board processes (effort norms, the use of board knowledge and skills, and cognitive conflict). Based on in-depth interviews with chairmen of boards and audit committees from 20 companies across a range of industries, this study provides evidence of how boards perform their risk oversight duties in the pursuit of sustainable value creation and the factors that explain the observed differences in companies’ risk oversight practices.

Keywords: Risk oversight; Risk governance; Board of directors; Board effectiveness; Corporate governance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:rischp:978-3-030-88374-4_8

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DOI: 10.1007/978-3-030-88374-4_8

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