This paper analyzes simultaneity and endogeneity of ERM and Corporate Governance. It assesses quantitative relationship between Corporate Governance, ERM and value of the firm. The research results provide quantitative justifications for the boards to make investments in ERM and Corporate...

The paper shows the ways of disclosing financial risks by IFRS 7 and certain types of sensitivity analysis. The different possibilities of preparing a sensitivity analysis, such as value at risk are illustrated and their suitability for reporting are faced critically. Following, the manner of...

This chapter looks at the role of corporate boards in risk oversight, risk management, and compliance through a comparative lens, drawing on examples from international guidance and diverse legal systems, primarily, the United States, the United Kingdom, leading European jurisdictions, and...

This paper examines corporate governance and Climate Change risk management of transport industry in Hong Kong. This exploratory case study aims to investigate how the board of directors of an organization in the transport sector is addressing Climate Change risks through governance practices....

The paper analyzes the role of financial regulation in facilitating the development of organizational norms to enhance risk culture in banking institutions. Specifically, it examines the regulatory responses and industry-led initiatives taken since the financial crisis of 2007-08 to address...

In merger agreements, the seller makes contractual representations and warranties (“reps”) about the state of the target, e.g., attesting to the accuracy of the target’s financial statements. We obtain a proprietary sample of claims for breaches of the reps in acquisition agreements...

This paper develops a risk-management view of CSR by arguing that CSR provides insurance-like effects in adverse corporate events. Since passive investors have diversified away most idiosyncratic risks, we predict that they demand less CSR as a strategic approach to manage risks. Using the...

Does corporate compliance help to reduce firm risk? We explore this question by examining the reported compliance activities of 150 publicly listed German firms over the years 2014 to 2018. We build a summary score that accounts for 24 clearly identifiable compliance elements and find that...

Few can argue with the notion that corporations should at least consider corporate social responsibility (CSR) to better understand the impact of their operations on society. However, recent empirical tests suggest CSR has an ambiguous impact on firm performance. To shed new light on this...

Managers are required to disclose material climate risk (CR) in Form 10-K, but their decision whether or not to disclose is confounded by the lack of consensus on whether CR is material to the firms, as well as uncertainty about enforcement of disclosure regulations. Using the SASB Materiality...