Enterprise Risk Management (ERM) has emerged as a construct that ostensibly overcomes limitations of silo-based traditional risk management (TRM), yet little is known about its effectiveness. The scant research on the relationship between ERM and firm performance has offered mixed findings, and...

Many regulators, rating agencies, executives, and academics have responded to recent corporate scandals and business failures by advocating and embracing a new approach to risk management: enterprise risk management (ERM). ERM proposes the integrated management of all the risks an organization...

The dynamic capabilities framework has emerged as a growing area of research within business disciplines — the framework seeks to explain how and why firms adapt successfully to changes in their environments. Yet, whether such capabilities are effective in periods of environmental changes that...