Risk Governance: Basic Rationale and Tentative Findings from the German Banking Sector

Volker Stein () and Arnd Wiedemann ()
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Volker Stein: University of Siegen
Arnd Wiedemann: University of Siegen

A chapter in Current Issues in Corporate Social Responsibility, 2018, pp 97-110 from Springer

Abstract: Abstract The fact that, over and over again, companies are surprised by unanticipated risks points to a serious deficit: Obviously, neither risk management nor corporate governance has been able to avert the incurred damage. Are these two highly specialized functions unable “to see the forest for the trees?” For the sake of overcoming the addressed limitations, the management theory-related search for a solution leads to the proposal of a bridging function: “risk governance”. We will first introduce its basic rationale in the corporate context before presenting tentative empirical findings from a benchmark study in the German banking sector. Our paper contributes to the development of a generic approach towards the strategic control of risk from the perspective of top management.

Keywords: Risk governance; Board effectiveness; Corporate governance; Strategic leadership; Risk management; Top management; Sustainability (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-319-70449-4_7

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DOI: 10.1007/978-3-319-70449-4_7

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