New development: The behavioural effects of risk management in higher education

Anil K. Narayan and John Kommunuri

Public Money & Management, 2022, vol. 42, issue 6, 414-416

Abstract: This article will be useful to policy-makers and managers to gain control over risk-taking behaviour in higher education institutions (HEIs). It provides an understanding of often overlooked psychological hurdles. The article assists policy-makers and managers in formulating sound risk management policies and frameworks. In addition, it builds a risk-awareness culture showing how to avoid behavioural pitfalls and over-ambitious target-setting that is putting many HEIs under extreme financial riskABSTRACTRisk management is gaining increasing importance in the higher education sector, but risk-taking behaviours associated with human vulnerabilities are not well understood. This article offers new insights into people’s risk-taking behaviour and the consequences for higher education institutions. The authors discuss core psychological and socio-cultural issues associated with behavioural risk management and propose ideas to help overcome risk-taking behavioural problems.

Date: 2022
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DOI: 10.1080/09540962.2021.1959985

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