THE EFFECT OF ENTERPRISE RISK MANAGEMENT ON FIRM PERFORMANCE: A CASE STUDY ON TURKEY

Zekai Şenol and Süleyman Serdar Karaca
Additional contact information
Zekai Şenol: Cumhuriyet University, Faculty of Economics and Administrative Sciences, Department of Business Administration, Turkey
Süleyman Serdar Karaca: Gaziosmanpaşa University, Faculty of Economics and Administrative Sciences, Department of Business Administration, Turkey

Studii Financiare (Financial Studies), 2017, vol. 21, issue 2, 6-30

Abstract: Enterprise Risk Management (ERM) is a risk management process based on all of the risks faced in business and applied entirely by the enterprise. It is also a risk management process that evaluates risk and opportunity together and provides reasonable assurance that the business objectives are realized. This study attempts to determine the effect of ERM on firms’ financial performance and the determinants of ERM. The study sample was prepared by the firms listed in Stock Exchange Istanbul (BIST), within the first 200 of the list of the Top 500 Industrial Enterprises of Turkey which Istanbul Chamber of Industry prepared for 2015. 231 observational values were obtained from a sample of 33 firms in the 2009-2015 period. In panel data analysis, it was seen that the effects of ERM on firm performance were not determined, whereas in the panel logistic regression, firm size was found to be determinant of ERM applications.

Keywords: Risk Management; Financial Performance; Panel Data Analysis; Panel Logistic Regression (search for similar items in EconPapers)
JEL-codes: G10 G17 G32 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.icfm.ro/RePEc/vls/vls_pdf/vol21i2p6-30.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vls:finstu:v:21:y:2017:i:2:p:6-30

Access Statistics for this article

More articles in Studii Financiare (Financial Studies) from Centre of Financial and Monetary Research "Victor Slavescu" Contact information at EDIRC.
Bibliographic data for series maintained by Daniel Mateescu ().