Risk Management - The Revealing Hand

Détails

ID Serval
serval:BIB_9B119612272B
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Risk Management - The Revealing Hand
Périodique
Journal of Applied Corporate Finance
Auteur(s)
Kaplan  R. S., Mikes  A.
ISSN
1078-1196
Statut éditorial
Publié
Date de publication
2016
Peer-reviewed
Oui
Volume
28
Numéro
1
Pages
8-18
Langue
anglais
Résumé
Many believe that the recent emphasis on enterprise risk management function is misguided, especially after the failure of sophisticated quantitative risk models during the global financial crisis. The concern is that top-down risk management will inhibit innovation and entrepreneurial activities. We advocate, however, that risk management done well-identifying, assessing, and mitigating risks in a cost-efficient manner-allows firms to add value by taking on riskier projects and strategies. But risk management must overcome severe individual and organizational biases that prevent managers and employees from thinking deeply and analytically about their risk exposure. In the paper, we reason inductively, from seven case studies, to propose multiple ways for the corporate risk function to foster highly interactive and intrusive dialogues that surface and prioritize risks, help to allocate resources to mitigate them, and bring clarity to the value trade-offs and moral dilemmas that lurk in those decisions.
Mots-clé
Disasters, organizations, decision
Web of science
Open Access
Oui
Création de la notice
20/04/2016 9:36
Dernière modification de la notice
20/08/2019 16:02
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