Influence of Family Culture on Enterprise Risk Management in Brazilian Companies

Elisane Brandt, Márcia Zanievicz da Silva and Franciele Beck

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), 2021, vol. 25, issue 6, e190082

Abstract: Context: family involvement creates specific goals that include family interests and values, and is used to pursue the family’s vision, creating effective corporate governance and risk management practices. Objective: our objective is to evaluate the relationship between family influence and enterprise risk management in Brazilian family businesses. Method: data from 142 family businesses was analyzed using descriptive statistics and structural equation modeling. The construct of enterprise risk management comprised: identification, evaluation, response, and communication. Family influence was captured by power, experience, and culture. Results: the results broaden the understanding that, among the three family dimensions investigated, culture is the one that better explains risk management practices. Conclusions: we concluded that the higher the level of family culture, the higher the level of attention to enterprise risk management.

Date: 2021
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