The board of directors is responsible for an appropriate business risk management environment. The paper studies in a comparative way how legislators and courts fill this duty. We question whether the legislative and regulatory framework will improve the equilibrium between entrepreneurship and...

While tax avoidance strategies result in greater after-tax cash flows, they can involve uncertain future outcomes, which can impose significant costs on firms. Thus, the extent to which tax avoidance increases firm risk is unclear. This paper re-examines the relation between tax avoidance and...

We show that the information on derivatives usage and securitization activities of U.S. banks as disclosed in their pre-crisis 10-K filings predicts their systemic equity risk during the financial crisis. Investors predominantly exited stocks of banks that had previously disclosed a more...

I examine the role of financial covenants in private debt contracts. I predict that financial covenants help limit ex ante uncertainty about the borrower's performance - the risk that the borrower will default on the loan - in the contract. I find that covenant inclusion is positively related to...

We investigate how the availability of traded credit default swaps (CDSs) affects the referenced firms' voluntary disclosure choices. CDSs enable lenders to hedge their credit risk exposure, weakening their incentives to monitor borrowers. We predict that reduced lender monitoring in turn leads...

Purpose: The article aims to highlight the concept of risk management in maritime transportation accidents in the specialized literature on the Web of Sciences database through existing materials. Design/methodology/ approach: The keyword study identifies several keywords as they have been set...

For about three years now, the COVID-19 pandemic has kept the global economy on tenterhooks. Although the pandemic has now been declared "over", the consequences of this mega-example of disruptive developments are still being felt everywhere, also regarding the work of Internal Audit. In...

The Coronavirus pandemic, as a global and total risk of our time, has imposed the need for a more complete and comprehensive review of existing approaches to crisis prevention and preventive management in general. This crisis also pointed to some shortcomings in quality management, risk...

We examine the effects of strategic risk perception on behaviour through the meta-analysis of five studies. The extant literature suggests that if risk perception is high it can decrease risk-taking behaviour. The direction of the impact is generally accepted in the business and research...

For weak management and collapse of family businesses, the research recommends that the members must trend positively in the family firm toward management which in result leads to the continuation of the family establishment as well as to realize Success in a family business this is a result of...